Notice No. 00-393
November 20, 2000

TO: ALL NYMEX AND COMEX MEMBERS AND MEMBER FIRMS

FROM: Neal L. Wolkoff, Executive Vice President

DATE: November 20, 2000

RE: Notice of Availability of Demutualization Rules
____________________________________________________________________

The purpose of this Notice is to advise Members and Member Firms that the 
bylaws for NYMEX Holdings and for NYMEX Inc., along with related rule changes 
for NYMEX Inc., which implement the demutualization transaction, can be found 
on the Exchange,s website at 
http:\\www.nymex.com\refernce\notices\ntm393.htm. In addition, hard copies of 
the new bylaws for NYMEX Holdings, a "black-line" version of the bylaws for 
NYMEX Inc. showing all actual changes to such bylaws, and the rule changes 
for NYMEX Inc. can be obtained from Kelly Ann Neeson in the Legal 
Department.  The Commerce Clearing House, which reprints the NYMEX rulebook, 
also will distribute an update in the near future containing these by-laws 
and rule changes.

If you have any questions concerning these rules, please contact Christopher 
K. Bowen, Senior Vice President and General Counsel, at  (212) 299-2200 or 
Robin Zablow, Associate General Counsel, at (212) 299-2212.



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