€B) (C) In all other delivery months for such futures contracts that do not satisfy the open interest and
volume criteria set forth in paragraph (A), the settlement price, shall be determined in the best judgment
of the Settlement Committee based upon trades or orders that are bid/offered and posted pursuant to
prescribed procedures in the last 30 minutes of trading on the trading floor by open outcry: outrights for
a volume of 100 lots in any of the first 24 listed contract months, or outrights for a volume of 100 lots
beyond the 24th contract month that have reached a minimum open interest of 10,000 contracts based
upon the open interest published at noon on a trading day; intracommodity spreads for a volume of 100
lots/month; and intracommodity strips for a volume of 30 lots/month for a yearly or 50 lots/month for a
seasonal. Priority will be given first to outrights, then spreads, then strips, that meet the criteria above.
Provided further, that an order that met the original volume requirement and was partially filled with the
balance still open, will be honored. Additionally, Floor Members posting any orders shall be held to
filling them unless the order was cancelled during the posting period with appropriate notice to the
market. Cancelled orders will not be honored for settlement purposes. br

€&) (D) For any contract months not otherwise addressed in Sections (A) and (B) of this rule, or if any
settlement price, determined pursuant to paragraphs (A) or (B), is inconsistent with transactions

that occurred during the closing range in other delivery months of the same futures contract or

with market information known to the Settlement Price Committee, (including, but not limited to.

either floor trading or electronic trading), the Settlement Price Committee shall be bound to consider
all relevant available data but shall not be bound by data from any one type of market information. Such
other market information includes but is not limited to the following:

Executed trades, bids or offers for outrights, spreads and strips provided before the last 30
minutes of the trading day transactions including both floor trading and Electronic
Trading, an Exchange settlement price model, and relevant OTC market data as further
specified below;

The Exchange settlement price model will be calibrated so that it is generally
mathematically consistent with market price information provided through Sections (A)
and (B);

OTC market quotes, if available, may be considered for outrights, spreads and strips
supplied by OTC brokers who are registered with NYMEX for NYMEX Clearport®
Clearing;

The Committee shall prepare a written record for any settlement price determined
pursuant to Section (C) of this rule.

€B) (E) A NYMEX staff member will be a voting member of the Settlement Price Committee with the
ability to veto and change any determination by the Committee if the priorities cited in Sections (A), (B),
or the exercise of judgment in Section (B) or the exercise of judgment based upon available data in
Section (C) of this rule are not adhered to in the best judgment of the staff member.

€&) (F) Notwithstanding the above, the settlement price for a delivery month in the Henry Hub Swap
futures contract will be the settlement price for the corresponding delivery month in the Natural Gas
futures contract, provided however that the final settlement for an expiring delivery month in the Henry
Hub Swap futures contract will be determined in accordance with the terms of Chapter 225 (Henry Hub
Swap).


considering spread relationships pursuant to this paragraph. For the purpose of this rule, a "price spike in
the closing range" shall have occurred if, in the sole discretion of the Settlement Price Committee, a
significant change in the spread relationships between the "spiked month" and the contract months
immediately preceding and following such month occurred during the closing range. Notwithstanding the
foregoing, no settlement price shall be established that would be lower than the best bid, or higher than
the best offer that: (a) was for at least 100 contracts for outrights or at least 200 contracts for spreads in
crude oil futures contracts or for at least 50 contracts (outrights or spreads) for heating oil or gasoline
futures contracts or for at least 10 contracts for coal futures, and (b) had been posted with the Exchange
and remained available for execution and unfilled for the final fifteen (15) minutes of trading.

(C) If any settlement price, determined pursuant to paragraphs (A) or (B), is inconsistent with transactions
that occurred during the closing range in other delivery months of the same futures contract or with
market information known to the Settlement Price Committee, (including, but not limited to, either floor
trading or electronic trading, (i) bids or offers for outright transactions and spreads that were unfilled
during the closing range, (ii) bids, offers or transactions in strips, and (iii) outright transactions executed
prior to the closing range) the Committee may establish a settlement price at a level consistent with such
other transactions or market information. In such event the Committee shall prepare a written record of
the basis for any settlement price so established.

(D) In the event that the Settlement Price Committee: establishes a settlement price in accordance with
paragraph (C) of this Rule, determines that a "price spike in the closing range occurred", in accordance
with paragraph (B) of this Rule, or fails to determine a settlement price by unanimous agreement of the
six Members designated by the Chairman to establish settlement prices pursuant to Rule 6.51, the
Committee shall prepare a written record of the basis upon which it established such settlement price.

NYMEX Rule 6.52A - Settlement Prices for Natural Gas Futures Contracts
Settlement prices will be determined as follows:

(A) The settlement price for each delivery month that: (1) as of the opening of business for that day has
more than ten percent (10%) of the total open interest for all delivery months of the futures contract and
(2) for which 10% of the closing range volume in that commodity is done in that delivery month
(excluding, for the purposes of this calculation volume done during the closing range on the last day of
trading in an expiring contract), shall be the weighted average price (rounded to the nearest minimum
fluctuation) of all outright transactions including both trades executed on the trading floor by open
outcry and trades executed electronically in that delivery month which occur in the closing range. (3)
Additionally, trading at settlement (TAS) volume, if applicable, shall not be included as closing range
volume for the purpose of item (2) above, to determine percentage of closing range volume in a delivery
month. TAS volume shall not be used to calculate settlement.

(B) Notwithstanding the qualifications cited in items 1-3 above, the current delivery month or spot
month will always be the weighted average price (rounded to the nearest minimum fluctuation) of
all outright transactions including both trades executed on the trading floor by open outcry and
trades executed electronically.


NYMEX 6.52B - Settlement Prices for Propane Gas Products

(A) For each propane futures contract, the settlement price for each delivery month that: (1) as of the
opening of business for that day has more than ten percent (10%) of the total open interest for all delivery
months of the futures contract and (2) for which 10% of the closing range volume in that commodity is
done in that delivery month (excluding, for the purposes of this calculation volume done during the
closing range on the last day of trading in an expiring contract), shall be the weighted average price
(rounded to the nearest minimum fluctuation) of all outright transactions including both trades executed
on the trading floor by open outcry and trades executed electronically in that delivery month which
occur in the closing range. If there are no such transactions in the closing range, the settlement price shall
be the last trade price, unless a bid higher or offer lower than the last trade price is made in the closing
range. Such higher bid or lower offer shall be the settlement price.

(B) In all other delivery months for such futures contracts that do not satisfy the open interest and volume
criteria set forth in paragraph (A), the settlement price shall be determined based upon spread
relationships between and among contract months, which relationships shall be determined in the
judgment of the Settlement Price Committee with: (a) greatest weight given to spreads executed on the
trading floor by open outery late in the trading day in large volumes, and (b) lesser weight given to (i)
spreads traded on the trading floor by open outcry in lesser volumes, (ii) spread bids and offers actively
represented on the trading floor by open outcry late in the trading day, and (iii) spread transactions,
bids and offers from earlier in the trading day on the trading floor by open outcry.

(C) If any settlement price, determined pursuant to paragraphs (A) or (B), is inconsistent with transactions
that occurred during the closing range in other delivery months of the same futures contract or with
market information known to the Settlement Price Committee, (including, but not limited to, either floor
trading or electronic trading, (i) bids or offers for outright transactions and spreads that were unfilled
during the closing range, (ii) bids, offers or transactions in strips, and (iii) outright transactions executed
prior to the closing range) the Committee may establish a settlement price at a level consistent with such
other transactions or market information. In such event, the Settlement Committee shall prepare a written
record of the basis for any settlement price so established.

Rule 6.53 - Settlement Price Procedures for Platinum and Palladium Contracts

(A)(i) The term "base month" shall mean, with respect to Platinum, the January, April, July or October
delivery months and, with respect to Palladium, the March, June, September, or December delivery
months; (ii) The term "most active month" shall mean the nearest base month that has the largest daily
trading volume, provided however, that if a base month other than the nearest base month has larger daily
trading volume on any day, the most active month shall be such base month until the daily trading volume
in such month is less than the next succeeding base month.

(B) The settlement price for the most active month shall be the weighted average price (rounded to the
nearest minimum fluctuation) of all outright transactions that occur in the closing range including both
trades executed on the trading floor by open outcry and trades executed electronically. If no outright
transactions occur in the closing range, the settlement price shall be the last trade price, unless during the
closing range a bid higher or offer lower than the last trade price is made. In such event, such higher bid


September 7, 2006

Via E-Mail

Office of the Acting Secretary
Commodity Futures Trading Commission
Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: Amended Rule Certification. NYMEX Submission 06.101: Notification
of Amendments to NYMEX Settlement Rules 6.52, 6.52A, 6.52B, 6.53,
And Rule 6.51, Settlement Price Committee.

Dear Ms. Eileen Donovan:

The New York Mercantile Exchange ("NYMEX" or the "Exchange") is notifying the
Commodity Futures Trading Commission (“CFTC” or Commission”) of amendments to
NYMEX Settlement Rules 6.52, 6.52A, 6.52B, 6.53, and Rule 6.51, Settlement Price Committee.
This amended certification corrects an inadvertent omission in Rule 6.52, Section (A).

Effective with the launch of side-by-side physical trading on CME GLOBEX® on
September 4, 2006 for trade date September 5, 2006, the Exchange will implement amendments
to the settlement rules relative to all affected markets, including CL, NG, HO, HU, RB, PN, PL
and PA (NYMEX Rules 6.52, 6.52A, 6.52B and 6.53). The amendments achieve the following:

. incorporate electronic trades into the weighted average settlement
price in contract months that would qualify for such handling;

. delete the use of TAS transactions (where applicable) in qualifying
a contract month for weighted average price treatment, and
otherwise make clear that the spot month will always be settled on
a weighted average in CL, NG, HO, HU, RB and PN; and

. generally rely upon spread values determined on the trading floor for
all other months, but if relevant, the Settlement Price Committee
may, in its discretion, utilize electronic trade information for such
months.

Additionally, the Settlement Committee, by way of procedure, will exercise discretion in
potentially including or excluding the pricing data between the venues if they believe it to be
erroneous or not generally indicative of value.


or lower offer shall be the settlement price.

(C) The settlement prices of all delivery months other than the most active month shall be the price
relationships established by spread differentials between such most active month and such other month
executed on the trading floor by open outcry. Spread differentials shall be determined by the last
spread transaction. If no spread transaction occurred on such day such differential shall be the average of
the last bid and offer for such spread. If no spread transactions have occurred on such day and there were
no bids or offers for such spread on such day, the spread differential shall be the spread differential of the
settlement prices for the previous business day.

(D) If any settlement price, determined pursuant to Paragraphs (B) or (C), is inconsistent with transactions
that occurred during the closing range for other delivery months of the same futures contract or with other
market information known to the Committee including but not limited to, either floor trading or
electronic trading, the Committee may establish a settlement price at a level consistent with such other
transactions or market information. In such event, the Committee shall prepare a written record of the
basis for any settlement price so established.

NYMEX 6.51, Settlement Price Committee

(A) Except as provided in Subsection (B) below, the Settlement Price Committee, which shall be a
Regular Committee, shall consist of such members, permittees and representatives of non-member firms
as the Chairman may appoint with the consent of the Board. Additionally, one (1) Exchange employee
will be a voting member of the Committee in the PJM electricity futures contract, calendar spread options
and crack spread options. The Exchange employee shall have final authority in all instances to veto and
override price determinations made by the Committee. Further, in the Natural Gas, and Crude Oil,
Heating Oil, Unleaded Gasoline, and New York Harbor Gasoline Blendstock (RBOB) Futures
contracts, an Exchange employee shall be a voting member of the Committee and shall have the right and
authority to veto and override any decision by the Committee in conformance with Exchange Rule
6.52A(D) and 6.52 respectively. The Committee shall be divided into sub-committees for each futures
and options contract traded. To the extent possible, each sub-committee shall consist of at least six (6)
Members, at least one of whom shall be a Floor Broker, one of whom shall be a Floor Trader, and one of
whom shall represent trade interests (either personal, of his employer, or of a substantial customer base).

(B) For all futures and options contracts traded solely on NYMEX ACCESS® or NYMEX Clearport®
Trading, the Settlement Price Committee shall consist of such Exchange employees as the President shall
designate from time to time and such Members, Non-Members, and representatives of Member and Non-
Member firms as may be appointed by the Chairman and approved by the Board.

(C) At the conclusion of the RTH trading session on the Exchange Floor each day, settlement prices shall
be determined for every contract listed.

(D) The Settlement Price Committee, or any subcommittee thereof, shall have the authority to request
from any member representing that certain market information should be considered in the determination
of a settlement price, such documentation as it deems appropriate including, but not limited to, trading
cards or records created using an Approved Handheld, and order tickets.


It should be noted that Compliance Staff currently have voting rights and veto authority
on the Settlement Committee for both CL and NG, and will have similar authority in HU, HO
and RB (NYMEX Rule 6.51) by the implementation date.

Pursuant to Section 5c(c) of the Commodity Exchange Act (‘“‘Act”) and CFTC Rule 40.6,
the Exchange hereby certifies that the attached rule amendments comply with the Act, including
regulations under the Act.

Should you have any questions concerning the above, please contact Nancy Minett, Vice
President, Compliance, at (212) 299-2940, or the undersigned at (212) 299-2897.

Very truly yours,

Thomas F. LaSala
Senior Vice President

Compliance and Risk Management
ce: Brian Regan
Nancy Minett


Revisions to NYMEX Settlement Rules

(Bold/underlining indicates additions, bold/strikethroughs indicate deletions.)

NYMEX Rule 6.52 - Settlement Prices for Crude Oil, Heating Oil, Gasoline, and New York Harbor
Gasoline Blendstock (RBOB) and-Coal Futures Contracts

(A) For crude oil, Brent-erude-eil, gaseil, heating oil, gasoline_and New York Harbor Gasoline
Blendstock (RBOB) or-ceal futures contracts, the settlement price for each delivery month that:

(1) as of the opening of business for that day has more than ten percent (10%) of the total open interest for
all delivery months of the futures contract and

(2) for which 10% of the closing range volume in that commodity is done in that delivery month
(excluding, for the purposes of this calculation, volume done during the closing range on the last day of
trading in an expiring contract), shall be the weighted average price (rounded to the nearest minimum
fluctuation) of all outright transactions including both trades executed on the trading floor by open
outcry and trades executed electronically in that delivery month which occur in the closing range.

(3) Additionally, TAS volume, if applicable, shall not be included as closing range volume for the
purpose of item (2) above, to determine percentage of closing range volume in a delivery month. TAS
volume shall not be used to calculate settlement.

4) Notwithstanding the qualifications cited in items 1-3 above, the current delivery month or spot

month will always be the weighted average price (rounded to the nearest minimum fluctuation) of
all outright transactions including both trades executed on the trading floor by open outcry and
trades executed electronically.

(B) In all other delivery months for such futures contracts that do not satisfy the open interest and volume
criteria set forth in paragraph (A), the settlement price shall be determined based upon spread
relationships between and among contract months, which relationships shall be determined in the
judgment of the Settlement Price Committee with:

(a) greatest weight given to spreads executed on the trading floor by open outcry late in the trading day
in large volumes, and

(b) lesser weight given to

(i) spreads traded on the trading floor by open outcry in lesser volumes,

(ii) spread bids and offers actively represented on the trading floor by open outcry late in the trading
day, and

(iii) spread transactions, bids and offers from earlier in the trading day on the trading floor by open
outery, provided that, in any circumstance where the Committee is considering bids and offers for
spreads, it shall consider the mid-point of the best bid and best offer and not the individual best bid or best
offer. In the event of a "price spike in the closing range" in any contract month where the settlement price
is determined by weighted average according to the open interest and volume criteria set forth in
paragraph (A), the Settlement Price Committee may disregard the settlement price for a spiked month in