Notice to Members No: 00-404
November 21, 2000


TO:  ALL NYMEX MEMBERS
  ALL NYMEX MEMBER FIRMS
  ALL NYMEX CLEARING MEMBERS

FROM:  Neal Wolkoff, Executive Vice President

SUBJECT: DELIVERY ISSUES)PLATINUM and PALLADIUM FUTURES CONTRACTS


The Exchange has received approval from the Commodity Futures Trading 
Commission to amend;

1) Platinum Futures Contract Rules: 90.02, "Contract Unit"; 90.03, "Grade and 
Quality Specifications"; 90.08, "Delivery Procedure"; 90.10, "Depository 
Receipt"; 90.11, "Inspection"; 90.14, "Rights and Obligations in a Delivery"; 
90.18, "Transition of 99.5 Contract to 99.9 Contract"; 90.18A, "Transition 
Rules" and Supplement No.5, "Approved Brands Acceptable on the London 
Platinum and Palladium Market" and

2) Palladium Futures Contract Rules: 100.02, "Contract Unit"; 100.03, "Grade 
and Quality Specification"; 100.04, "Packaging and Marking"; 100.08 "Delivery 
Procedure"; 100.10, "Depository Receipt"; 100.11, "Inspection"; 100.14, 
"Rights and Obligations in a Delivery"; 100.17, "Transition of 99.8 Contract 
to 99.9 Contract"; 100.17A, "Transition Rules" and Supplement No.5, "Approved 
Brands Acceptable on the London Platinum and Palladium Market".

The approved amendments are effective commencing with deliveries in the 
December 2000 Palladium Futures Contract and with deliveries in the January 
2001 Platinum Futures Contract.

The approved amendments:

1) increase the weight tolerance on the platinum and palladium ingots/plate 
delivered from five (5) percent to seven (7) percent;

2) expand the list of approved brands acceptable for delivery against the 
respective Exchange contracts by adding all of the brands of platinum and 
palladium acceptable on the London Platinum and Palladium Market ("LPPM") as 
of September 18, 2000;

3) permit the delivery of approved brands of platinum and palladium to an 
Exchange approved depository directly from the vaults of Credit Suisse First 
Boston and UBS Warburg in Zurich, Switzerland, which are delivery locations 
for the London Platinum and Palladium Market, by an Exchange approved carrier 
without the requirement for an assay certificate;

4) eliminate the transition rules which were applicable when the contract,s 
quality specifications were transitioned to the current 99.95% pure 
specification; and

5) establish procedures and safeguards for the buyer in the event the metal 
being delivered does not meet the quality specifications of the contract.

The approved rule amendments may be found on the Exchange,s website at 
www.nymex.com/refernce/notices/ntm_404.htm

Should you have any questions or require any further information please 
contact Albert J. Getz at 212-299-2608.


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