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RELEASE: pr5724-09

  • Release: 5724-09
    For Release: September 30, 2009

    CFTC Seeks Public Comment on Request From New York Mercantile Exchange Involving Contracts Traded on the Dubai Mercantile Exchange

    Washington, DC – The Commodity Futures Trading Commission (Commission) is requesting public comment on a petition submitted by the New York Mercantile Exchange to amend an existing order in connection with contracts traded on the Dubai Mercantile Exchange (DME).

    In May 2007, the Commission issued an order under Section 4d of the Commodity Exchange Act permitting DME and clearing member futures commission merchants to hold customer positions and associated funds held in connection with NYMEX’s clearing of specific futures contracts traded on or subject to the rules of the DME with other funds held in the segregated account. The order currently requires the margin calculation to cover two days instead of the typical one day. NYMEX now requests that the Commission amend the order to reduce the coverage to one day.

    Comments regarding the request should be submitted within 30 days from date of posting.

    Comments may be submitted via email to secretary@cftc.gov. All comments received will be posted on the Commission’s website.

    Media Contacts
    Scott Schneider
    202-418-5174

    R. David Gary
    202-418-5085

    Last Updated: September 30, 2009

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