March 3, 2006

BY EMAIL AND FACSIMILE

Office of the Secretariat

Commodity Futures Trading Commission
Three Lafayette Centre

1155 21st Street, N.W.

Washington, D.C. 20581

Re: Rule Certification. NYMEX Submission 06.38: (Replaces Submission 06.2!
Notification of Amendment to Rule 6.21E to allow a spread price of up
to two cents wide for EFM transactions for NYMEX miNYTM Natural
Gas futures contracts.

Dear CFTC Commissioners:

The New York Mercantile Exchange, Inc. ("NYMExX" or the "Exchange" is notifying the
Commodity Futures Trading Commission (“CFTC” or “Commission” of a rule amendment to
Rule 6.21E to allow a spread price of up to two cents wide for Exchange of Futures for Mini
(EFM) transactions in the NYMEX miNYTM Natural Gas futures contract. This change will
become effective for all listed months beginning on March 6, 2006. This submission replaces the
previous submission 06.29 dated February 24, 2006.

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
Dan Brusstar, Director, Research, at (212) 299-2604; or the undersigned at (212) 299-2390.

Very truly yours,

Robert A. Levin
Senior Vice President, Research

Attachment: Rule Amendment below



Notification of Approved Rule Amendment
(Underlining refers to inserts, and strikethreughs refer to deletions)

Rule 6.21E Exchange of NYMEX {emiNY Futures for, or in Connection with, NYMEX
Futures Transactions

(A) General Requirements. An exchange of futures for, or in connection with, mini futures (EFM)
consists of two discrete, but related transactions; a purchase (sale) transaction ina NYMEX ¢e9
miNY and a sale (purchase) transaction in the related NYMEX futures contract. At the time such
transaction is effected, the buyer (seller) of the NYMEX ¢e}miNY shall be the seller (buyer) of
the related NYMEX futures contract in the ratio designated by the Board of Directors.

(B) Final Deadline for Transactions. An EFM involving an expiring NYMEX ¢e+miNY futures
contract month is permitted at any time up to and must be reported to the Exchange by the close of
trading one business day preceding the expiration date of the NYMEX (e}-miNY futures Gride
and-Natural-Gas contracts.

(C) Contract Month and Quantity. An EFM transaction may only be effected for the same contract
month in both of the applicable NYMEX futures contracts. The quantity of contracts to be
exchanged in the EFM transaction. must be consistent with the size ratio then in effect between the
applicable NYMEX (e-+miNY N¥MEX futures contract listed for trading en-Glebex on the
NYMEX ClearPort Trading platform and the regular standard size NYMEX contract listed for
trading at NYMEX

(D) Transaction Price. An EFM transaction may only be transacted at the settlement price for the
regular size NYMEX futures contract for the trading session in which the EFM transaction was
reported to the Exchange; provided however, that an EFM transaction in the NYMEX miNY
Natural Gas futures contract may be transacted at a spread price of up to two cents wide. For an
EFM transaction in NYMEX miNY Natural gas, the settlement price of the standard futures
contract will be shown in the NYMEX miNY side of the transaction with the price differential
reflected in the standard futures contract side of the transaction.

(E) Floor Reporting Requirements and Deadlines. A report of each EFM transaction must be
given and notice thereof must be posted on the Floor of the Exchange. The report of an EFM
transaction must be given on the Floor prior to the end of the trading session on the day that the
agreement was made, or if such agreement was made after the close of trading, then during the
trading session on the next business day.

(F) Clearing. EFM transactions shall be cleared through the Exchange in accordance with normal
procedures, shall be clearly identified and marked in the manner provided by the Exchange, and
shall be recorded by the Exchange and by the Clearing Members involved.