Notice No. 01-93
March 14, 2001


TO:
All COMEX Division Floor Members and Member Firms
All COMEX Clearing Firms
All COMEX Operations Managers

FROM:
Neal Wolkoff
Executive Vice President

RE:
Amendments to Delivery Rules Concerning Payment in the Gold, Silver and 
Copper Futures Contracts
______________________________________________________________________________




  Please be advised that effective, Thursday, March 15, 2001, payment for 
delivery of COMEX Division metal contracts Gold, Silver and Copper may be 
consummated by money wire if agreed upon by both clearing members.

  Currently, the above-mentioned contracts require payment by certified check 
only.  These amendments will offer added flexibility through an additional 
option to the clearing members upon mutual consent.  The amendments for the 
relevant contracts are attached for your review.

  If you have any questions concerning this Notice, please contact Thomas 
LaSala, Vice President, Compliance, at (212) 299-2897, or Nicholas Galati, 
Director, Market Surveillance, at (212) 299-2920.



Attachment



(underlining indicates additions)

COMEX Gold:

Rule 13.12(e) ) Delivery of Gold

(e) The member to whom delivery is made shall at once make payment to the 
member making delivery by a certified check drawn upon a bank in the City of 
New York or, if mutually agreed upon, effect payment by federal funds money 
wire.  Payment shall be made upon the basis of the weight as certified in the 
weight certificate for the lot and the fineness of such gold up to 9999 fine 
as stamped on the bars.


COMEX Silver:

Resolution - .10 Interpretation of Term &Bar List8

(f) The member receiving the warehouse or vault receipt shall at once make 
payment to the member presenting the same, by a certified check drawn upon a 
bank in the City of New York or, if mutually agreed upon, effect payment by 
federal funds money wire.  Payment shall be made upon the basis of the weight 
stamped upon the bars delivered.  If the material is stamped in kilos and the 
total weight as shown by the depository on the receipt is in kilos, then the 
total kilo weight should be converted to ounces for the purposes of 
determining the billable weight.


COMEX HG Copper:

Rule 11.45(i) ) Delivery of Copper

(i) When documents are presented, the buyer shall at once make payment by 
bankers certified check to the delivery member or, if mutually agreed upon, 
effect payment by federal funds money wire to the delivery member.



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