Notice Number:  01-440
December 21, 2001

TO:		ALL NYMEX DIVISION MEMBERS
		ALL COMEX DIVISION MEMBERS

FROM:	J. Robert Collins, Jr., President

SUBJECT:	Delivery Procedures


The Exchange proposes to amend the delivery rules for the metals futures
contracts by making permanent the temporary emergency rules enacted by the
NYMEX Board of Directors as a result of the attack on the World Trade
Center.  The proposed rule amendments would permit deliveries against the
COMEX Division's Gold, Silver and Grade 1 Copper Futures Contracts and the
NYMEX Division's Platinum and Palladium Futures Contracts to take place at
such location as may be mutually agreed upon by the Clearing Member taking
delivery and the Clearing Member making delivery.

The proposed rule amendments must be approved by the Commodity Futures
Trading Commission ("CFTC").  The Exchange Membership will be notified upon
receipt of CFTC approval.

A copy of the proposed rule amendments is attached.

Should you have any questions please contact Albert J. Getz at 212-299-2608
or Nick Galati at 212-299-2920.


Proposed Rule Amendment. Underlining indicates additions. Bracketing []
indicates deletions.

GOLD FUTURES CONTRACT

COMEX Rule 13.12 - Delivery of Gold

(h) Each delivery of gold in fulfillment of an Exchange contract and the
delivery of any invoices required in connection herewith shall be made [at
the location of the party taking delivery if the member taking delivery has
an office for the purpose of accepting deliveries in fulfillment of Exchange
contracts located on or south of Canal Street, in the Borough of Manhattan,
City of New York.  If the member taking delivery does not have an office in
such location, delivery shall be made at the offices of the Exchange or] at
such [other] location as may be mutually agreed upon by the member making
delivery and the member taking delivery.  Any delivery pursuant to the
previous sentence shall be made and accepted between the hours of 12:00 noon
and 2:00 p.m. on the day of delivery.  [The Exchange shall designate an
office at the offices of the Exchange at which such deliveries shall take
place, but] [t]The Exchange shall not be liable or responsible for any
failure to make or take delivery at such [office] other location or for any
other act or omission which can or may occur in connection therewith.

The remainder of paragraph (h) remains unchanged.

Paragraphs (a), (b), (c), (d), (e), (f) and (g) remain unchanged.



Proposed Rule Amendment. Underlining indicates additions. Bracketing []
indicates deletions.

SILVER FUTURES CONTRACT

COMEX Rule 12.16 - Delivery of Silver

(h) Each delivery of silver in fulfillment of an Exchange contract and the
delivery of any invoices required in connection herewith shall be made [at
the location of the party taking delivery if the member taking delivery has
an office for the purpose of accepting deliveries in fulfillment of Exchange
contracts located on or south of Canal Street, in the Borough of Manhattan,
City of New York.  If the member taking delivery does not have an office in
such location, delivery shall be made at the offices of the Exchange or] at
such [other] location as may be mutually agreed upon by the member making
delivery and the member taking delivery.  Any delivery pursuant to the
previous sentence shall be made and accepted between the hours of 12:00 noon
and 2:00 p.m. on the day of delivery.  [The Exchange shall designate an
office at the offices of the Exchange at which such deliveries shall take
place, but] [t]The Exchange shall not be liable or responsible for any
failure to make or take delivery at such [office] other location or for any
other act or omission which can or may occur in connection therewith.

The remainder of paragraph (h) remains unchanged.

Paragraphs (a), (b), (c), (d), (e), (f) and (g) remain unchanged.




Proposed Rule Amendment. Underlining indicates additions. Bracketing []
indicates deletions.

GRADE 1 COPPER FUTURES CONTRACT

COMEX Rule 11.45 - Delivery Against Grade 1 Copper Contract

(d) When delivery of copper is made outside the City of New York, the
documents required by the By-Laws, Rules and Regulations of the Exchange for
such delivery shall be delivered by the seller to the buyer [in New York] at
such location as may be mutually agreed upon by the member making delivery
and the member taking delivery.

(m) Each delivery of copper in fulfillment of an Exchange contract and the
delivery of any invoices required in connection herewith shall be made [at
the location of the party taking delivery if the member taking delivery has
an office for the purpose of accepting deliveries in fulfillment of Exchange
contracts located on or south of Canal Street, in the Borough of Manhattan,
City of New York.  If the member taking delivery does not have an office in
such location, delivery shall be made at the offices of the Exchange or] at
such [other] location as may be mutually agreed upon by the member making
delivery and the member taking delivery.  Any delivery pursuant to the
previous sentence shall be made and accepted between the hours of 12:00 noon
and 2:00 p.m. on the day of delivery.  [The Exchange shall designate an
office at the offices of the Exchange at which such deliveries shall take
place, but] [t]The Exchange shall not be liable or responsible for any
failure to make or take delivery at such [office] other location or for any
other act or omission which can or may occur in connection therewith.

The remainder of paragraph (m) remains unchanged.

Paragraphs (a), (b), (c), (e), (f), (g), (h), (i), (j), (k) and (l) remain
unchanged.

Proposed Rule Amendments. Underlining indicates additions. Bracketing [ ]
indicates deletions.

Platinum Futures Contract

Rule 90.08.  DELIVERY PROCEDURE

(G) Delivery Day

The buyer who receives a Notice of Intention to Deliver shall present it to
the seller before 12:00 noon on the following business day, at a location
mutually agreed upon by the buyer and seller, [the office of the seller by
whom it was issued] with a certified check for the amount payable as shown
on the Notice of Intention to Deliver.  Upon receipt of the certified check,
the seller shall give the buyer a depository receipt and, unless such
receipt was issued pursuant to Rule 90.10(a)(5), (6) or (7), an assay
certificate which corresponds to the Notice of Intention to Deliver.  The
seller must endorse the depository receipt and set forth the date of
endorsement.  The day the buyer receives the stated documents shall be
referred to as the Delivery Day.

Paragraphs (A), (B), (C), (D), (E) and (F) remain unchanged.

Proposed Rule Amendments. Underlining indicates additions. Bracketing [ ]
indicates deletions.

Palladium Futures Contract

Rule 100.08.  DELIVERY PROCEDURE

(G) Delivery Day

The buyer who receives a Notice of Intention to Deliver shall present it to
the seller before 12:00 noon on the following business day, at a location
mutually agreed upon by the buyer and seller, [the office of the seller by
whom it was issued] with a certified check for the amount payable as shown
on the Notice of Intention to Deliver.  Upon receipt of the certified check,
the seller shall give the buyer a depository receipt and, unless such
receipt was issued pursuant to Rule 100.10(a)(5), (6) or (7), an assay
certificate which corresponds to the Notice of Intention to Deliver.  The
seller must endorse the depository receipt and set forth the date of
endorsement.  The day the buyer receives the stated documents shall be
referred to as the Delivery Day.

Paragraphs (A), (B), (C), (D), (E) and (F) remain unchanged.