SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-208 (2 of 2)

Organization: New York Mercantile Exchange, Inc. ("NYMEX")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 05/31/23 Filing Description: Expansion of the Listing Schedule of 

the Platinum and Palladium Futures Option Contracts/Expansion of TAS Eligibility and 

Implementation of TAS Spread Eligibility of the Palladium Futures Contract

SPECIFY FILING TYPE 

Please note only ONE choice allowed per Submission.

Organization Rules and Rule Amendments

Certification § 40.6(a)

Approval § 40.5(a)

Notification § 40.6(d)

Advance Notice of SIDCO Rule Change § 40.10(a)

SIDCO Emergency Rule Change § 40.10(h)

Rule Numbers: See filing.

New Product Please note only ONE product per Submission.

Certification § 40.2(a) 

Certification Security Futures § 41.23(a)

Certification Swap Class § 40.2(d)

Approval § 40.3(a)

Approval Security Futures § 41.23(b)

Novel Derivative Product Notification § 40.12(a)

Swap Submission § 39.5

Official Product Name: 

Product Terms and Conditions (product related Rules and Rule Amendments)

Certification § 40.6(a) 

Certification Made Available to Trade Determination § 40.6(a)

Certification Security Futures § 41.24(a)

Delisting (No Open Interest) § 40.6(a) 

Approval § 40.5(a)

Approval Made Available to Trade Determination § 40.5(a)

Approval Security Futures § 41.24(c)

Approval Amendments to enumerated agricultural products § 40.4(a), § 40.5(a)

“Non-Material Agricultural Rule Change” § 40.4(b)(5)

Notification § 40.6(d)

Official Name(s) of Product(s) Affected:

Rule Numbers: 
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

1

Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

May 31, 2023

VIA ELECTRONIC PORTAL

Mr. Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, DC 20581

Re: CFTC Regulation 40.6(a) Certification. Expansion of the Listing Schedule of the 

Platinum and Palladium Futures Option Contracts / Expansion of TAS Eligibility on 

and Implementation of TAS Spread Eligibility of the Palladium Futures Contract.

NYMEX Submission No. 23-208 (2 of 2)

Dear Mr. Kirkpatrick:

New York Mercantile Exchange, Inc. (“NYMEX” or “Exchange”) is certifying to the Commodity Futures 

Trading Commission (“CFTC” or “Commission”) effective Sunday, July 16, 2023 for trade date Monday, 

July 17, 2023, the Exchange will:

1. Expand the listing schedule of the Platinum and Palladium Futures and Option contracts (the 

“Contracts”) for trading on the CME Globex electronic trading platform (“CME Globex”) and for 

submission for clearing on CME ClearPort as noted in Table 1. below;

2. Amend the Trading at Settlement (“TAS”) and Trading at Marker table located in NYMEX Chapter 

5 (“Trading Qualifications and Practices”) (the “Table”) to expand eligibility for the Palladium 

Futures contract as also noted in Table 1. below; and

3. Further amend the Table to enable TAS spread eligibility of the Palladium Futures contract for all 

TAS eligible contract months (collectively, the “Rule Amendments”).

Table 1.

Contract Title

CME Globex 

and

CME 

ClearPort 

Codes

Rulebook 

Chapter

Current Listing 

Schedule

Expanded Listing 

Schedule

Platinum Futures PL 105

Monthly contracts 

listed for 3 

consecutive months 

and any Jan, Apr, 

Jul, Oct in the 

nearest 15 months

Monthly contracts 

listed for 3 

consecutive months 

and any Jan, Apr, 

Jul, Oct in the 

nearest 36 months
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

2

Platinum Option PO 360

Monthly contracts 

listed for 3 

consecutive months 

and any Jan, Apr, 

Jul, Oct in the 

nearest 3 months

Monthly contracts 

listed for 3 

consecutive months 

and any Jan, Apr, 

Jul, Oct in the 

nearest 36 months

Palladium Futures PA

TAS Code: 

PAT*

105

Monthly contracts 

listed for 3 

consecutive months 

and any Mar, Jun, 

Sep, Dec listed for 

15 months

Monthly contracts 

listed for 3 

consecutive months 

and any Mar, Jun, 

Sep, Dec in the 

nearest 36 months

Palladium Option PAO 119

Monthly contracts 

listed for 3 

consecutive months 

and the next 3 

contracts in the Mar, 

Jul, Sep, Dec cycle

Monthly contracts 

listed for 3 

consecutive months 

and any Mar, Jun, 

Sep, Dec in the 

nearest 36 months

*TAS eligibility expanded from first active month to first and second active month (March, June, September, 

December)

The Exchange conducted an analysis of liquidity of the affected contract month and determined that the 

expansion of TAS eligibility for the Palladium Futures contract is appropriate at this time.

Amendments to the Table are provided as Exhibit A in blackline format. 

The Exchange reviewed the designated contract market core principles (“Core Principles”) as set forth in 

the Commodity Exchange Act (“CEA” or “Act”) and identified that the Rule Amendments may have some 

bearing on the following Core Principles:

• Availability of General Information: NYMEX will issue a Special Executive Report (“SER”) to the

marketplace regarding these amendments. The SER will also be posted on the CME Group 

website.

• Contracts Not Readily Subject to Manipulation: A review of the Palladium Futures contract 

shows that there is sufficient liquidity on CME Globex to support pricing at TAS. The Exchange 

continues to believe that the contract is not subject to manipulation.

• Daily Publication of Trading Information: NYMEX will continue to comply with this Core 

Principle by making public daily information on settlement prices, volume, open interest, and 

opening and closing ranges for the Contracts which will be published daily on the Exchange’s 

website.

• Compliance with Rules: The Exchange shall continue its normal practice to establish, monitor, 

and enforce compliance with the rules of the Contracts, including the expansion of the listing 

schedules of the Contracts. 

• Execution of Transactions: The Exchange will continue its current practice of providing a 

competitive, open, and efficient market mechanism for executing transactions in the Contracts.
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

3

Pursuant to Section 5c(c) of the Act and CFTC Regulation 40.6(a), the Exchange hereby certifies that the 

Rule Amendments comply with the Act, including regulations under the Act. There were no substantive 

opposing views to the proposal.

The Exchange certifies that this submission has been concurrently posted on the CME Group website at

http://www.cmegroup.com/market-regulation/rule-filings.html.

Should you have any questions concerning the above, please contact the undersigned at (212) 299-2200 

or via e-mail at CMEGSubmissionInquiry@cmegroup.com.

Sincerely, 

/s/ Christopher Bowen

Managing Director and Chief Regulatory Counsel

Attachment: Exhibit A – Amendments to the NYMEX Trading at Settlement (“TAS”) and Trading at `

Marker (“TAM”) Table Located in Chapter 5 (“Trading Qualifications and

 Practices”) (blackline format)
4

Exhibit A

NYMEX Rulebook

Chapter 5

(“Trading Qualifications and Practices”)

Trading at Settlement (“TAS”) and Trading at Marker (“TAM”) Table

 (additions underscored)

Palladium 

(PAT)*

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

Mar Mar Jun Jun Jun Sep Sep Sep Dec Dec Dec Mar 

Jun Jun Sep Sep Sep Dec Dec Dec Mar Mar Mar Jun

Mar-Jun MarJun

JunSepJunSepJunSepSepDecSepDecSepDecDecMarDecMarDecMarMarJun

Palladium Futures: Trading at Settlement (TAS) is allowed in the first and second nearby active contract 

months (Mar, Jun, Sep, Dec)