----- Forwarded by Tana Jones/HOU/ECT on 01/31/2001 01:12 PM -----

	exchangeinfo@nymex.com
	01/31/2001 12:03 PM
		 
		 To: tana.jones@enron.com
		 cc: 
		 Subject: (01-42)  Extension of Resolution Governing Price Fluctuation Limits 
on NYMEX ACCESS


Notice No. 01-42
January 31, 2001

MEMORANDUM

TO:  ALL NYMEX AND COMEX MEMBERS

FROM:  Neal L. Wolkoff , Executive Vice President

DATE:  January 31, 2001

RE:  Six-Month Extension of Resolution Governing Price Fluctuation Limits   
Applicable to Trading on NYMEX ACCESS

On December 12, 2000, the Exchange issued Notice to Members #421, which 
consisted of a reminder to Members of an Exchange Resolution in effect that 
concerned Exchange price fluctuation limit rules as those rules apply to 
trading on NYMEX ACCESS(; That notice stated that the Resolution would 
continue until February 1, 2001, unless Members were notified otherwise by 
the Exchange.

The purpose of this Notice is to advise Members that the Exchange has 
extended this Resolution, which is attached below, for another six months.  
Thus, this Resolution will continue through August 1, 2001, unless Members 
are notified otherwise by the Exchange.

If you have any questions, please contact Rick Taibi, Director, NYMEX ACCESS 
Operations, NYMEX ACCESS Department, at (212) 299-2677; or Brian Regan, 
Senior Associate General Counsel, at (212) 299-2207.

* * * *

APPROVED RESOLUTION OF THE EXECUTIVE COMMITTEEOF THE BOARD OF DIRECTORS 
REGARDING PRICE FLUCTUATION LIMITS FOR EXCHANGE CONTRACTS

The Executive Committee of the Board of Directors hereby

Resolves that, until further notice, the price fluctuation limit rules for 
each futures contract that is listed for trading on NYMEX ACCESS(r) and that 
has such applicable rules shall continue in effect except as amended below 
with regard to market activity occurring on NYMEX ACCESS(r):

The initial and subsequent price fluctuation limits (for each Exchange 
futures contract that has such limits) shall be expanded to 200% of the 
initial and subsequent price fluctuation limits applicable to the first two 
contract months of that futures contract that have price limits under the 
applicable rule.

This expanded limit (200% of the limits for the first two months with limits) 
shall be applicable to all contract months for that futures contract.

In the event that such a price fluctuation limit is reached by a bona fide 
bid at the high price fluctuation limit or a bona fide offer at the low price 
fluctuation limit, trading on NYMEX ACCESS(r) shall be halted immediately 
except as directed otherwise by the President or the President's designee.  
Following resumption of trading, the price limits in effect shall be 200% of 
the limits applicable to RTH trading.  In the event that a limit is touched 
during the last 90 minutes of a NYMEX ACCESS(r) session, the market shall be 
halted briefly, and price limits shall be expanded thereafter

In addition, in the event that a contract trading on NYMEX ACCESS(r) traded 
for five minutes during the NYMEX ACCESS&#61495; session at a price 
fluctuation limit applicable to the Regular Trading Hours session, then the 
RTH session shall open with expanded price fluctuation limits as provided 
under the applicable rule, even though no temporary cessation of trading 
occurred during the NYMEX ACCESS(r) trading session.


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