Notice # 01-187
June 1, 2001

TO:
All NYMEX and COMEX Division Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Implementation of Rule Amendments Increasing Capital Requirements for NYMEX
and COMEX Clearing Members

DATE:
June 1, 2001
===========================================================
Please be advised that the Exchange has determined to implement amendments
to
NYMEX Rule 9.21 ("Minimum Capital Requirements") and to COMEX Clearing
Association Rule 20 ("Minimum Capital Requirements"), which are attached
below. The amendments further enhance the financial integrity of the
Exchange's Clearing Houses by raising the minimum capital requirements
applicable to all Clearing Members from $2 million to $5 million.  The
amendments will go into effect on June 30, 2001.

If you have any questions concerning this change, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Arthur McCoy, Vice President, Financial Surveillance Section,
NYMEX Compliance Department, at (212) 299-2928; or Charles Bebel, Vice
President, Clearing Department, at (212) 299-2130.

NYMEX Rule 9.21. MINIMUM CAPITAL REQUIREMENTS

(Additions are indicated by asterisks; Deletions are in {Brackets})

         "(B) Financial Requirements

     Each clearing member registered with the Commission as a futures
commission merchant shall have and maintain working capital equal to or in
excess of the greater of {$2,000,000} *$5,000,000* or the amount prescribed
in Commission Regulation 1.17. Except as provided in Rule 9.02(K), all
other Clearing Members shall have and maintain minimum working capital of
{$2,000,000} *$5,000,000*.

CCA Rule 20. MINIMUM FINANCIAL REQUIREMENTS

(Additions are indicated by asterisks; Deletions are in {Brackets})

     (a)(ii) "A Clearing Member must have and maintain at all times an
adjusted net capital or working capital, as the case may be, of not less
than the amount set forth in Rule 20(b)? ."
     (b)(I) "For a Clearing Member which is a Futures Commission Merchant
registered as such with the Commission {and which is a U.S. person,} the
minimum amount of adjusted net capital shall be {two million ($2,000,000)}
*$5,000,000* {Dollars}."
     {(b)(ii) "For a Clearing Member which is a Futures Commission Merchant
registered as such with the Commission and which is a non-U.S. person, the
minimum amount of adjusted net capital shall be Two and One Half Million
($2,500,000) Dollars of which at least One Million ($1,000,000) Dollars ?
."}