If we were ever thinking about becoming clearing members, now is the time to 
do so!
----- Forwarded by Tana Jones/HOU/ECT on 01/23/2001 02:11 PM -----

	exchangeinfo@nymex.com
	01/23/2001 01:59 PM
		 
		 To: tana.jones@enron.com
		 cc: 
		 Subject: (01-29) Proposal to Increase Clearing Member Capital Requirement


Notice No. 01-29
January 23, 2001

TO: All NYMEX and COMEX Division Members and Member 
Firms                                        All Clearing Member Firms
       All Compliance Officers and Operations Managers

FROM: Neal Wolkoff; Executive Vice-President

RE: Proposal to Increase Clearing Member Capital Requirement
_________________________________________________________________

The Clearing House Committee has proposed to the Board of Directors ("Board") 
that the capital requirement of a clearing member firm be increased to $5 
million.

However, the Board is giving interested parties an opportunity to apply for 
clearing member privileges while the capital requirement remains at its 
current level of $2 million. Thus, if a firm files with the Exchange a 
clearing member application no later than May 31, 2001, it will not be 
required to meet the new $5 million requirement until one year later, May 31, 
2002. The same effective date would apply to all existing Clearing Members.

Applications for clearing membership can be obtained from the Membership 
Department. If the Exchange does not receive any new clearing member 
applications by May 31, 2001, the proposed capital requirement increase to $5 
million will become effective for all existing clearing member firms on June 
30, 2001.

Should you have any questions regarding these issues please contact Artie 
McCoy, Vice President of Financial Surveillance at 212-299-2928 or Joe 
Sanguedolce, Director, at 212-299-2855.





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