SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested

Registered Entity Identifier Code (optional): 23-507 (1 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): December 12, 2023 Filing Description: Implementation of the 

Aluminum Large Participant Development Program

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: Not Applicable

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: 
20 S Wacker Dr Chicago, IL 60606 T 312 466 7478 tim.elliott@cmegroup.com cmegroup.com

Timothy Elliott

Managing Director and Chief Regulatory Counsel

Legal Department

December 12, 2023

VIA ELECTRONIC PORTAL

Christopher J. Kirkpatrick

Office of the Secretariat

Commodity Futures Trading Commission

Three Lafayette Centre

1155 21st Street, N.W.

Washington, DC 20581

RE: Implementation of the Aluminum Large Participant Development Program

NYMEX Submission No. 23-507 (1 of 2)

Dear Mr. Kirkpatrick:

New York Mercantile Exchange, Inc. (“NYMEX”) and Commodity Exchange, Inc. (“COMEX”) (collectively, the

“Exchanges”) hereby notify the Commodity Futures Trading Commission (“CFTC” or “Commission”) of plans to

implement the Aluminum Large Participant Development Program (“Program”). The Program will become effective on

January 1, 2024.

Exhibit 1 sets forth the terms of the Program. 

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

Commodity Exchange Act (“CEA” or “Act”). During the review, Exchange staff identified the following Core Principles 

as potentially being impacted: Monitoring of Trading, Execution of Transactions, Protection of Market Participants, 

Compliance with Rules, Availability of General Information, and Recordkeeping.

The Program does not impact the Exchanges’ ability to perform its trade practice and market surveillance obligations 

under the CEA. The Exchanges will monitor trading in the Program’s product to prevent manipulative trading and 

market abuse. Additionally, the Exchanges have implemented systems to track Program participants’ volume to 

ensure proper distribution of earned incentives. The product included in this Program is listed for trading in the open 

and competitive market. Participants in the Program will be selected by Exchanges’ staff using criteria as further 

stated in Exhibit 1. Each of the Exchanges’ respective rules includes prohibitions against fraudulent, non-competitive, 

unfair, or abusive practices. All participants must execute a contractual agreement with the Exchanges’ in which each 

participant will expressly agree to comply with and be subject to applicable regulations and applicable rules. The 

Program is subject to the Exchanges’ record retention policies which comply with the CEA.

The Exchanges certify that the Program complies with the CEA and the regulations thereunder. There were no 

substantive opposing views to this Program.

The Exchanges certify that this submission has been concurrently posted on the Exchange’s website at 

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

If you require any additional information regarding this submission, please e-mail 

CMEGSubmissionInquiry@cmegroup.com or contact Rachel Johnson at 312-466-4393 or via e-mail at 

Rachel.Johnson@cmegroup.com. Please reference our NYMEX Submission No. 23-507 in any related 

correspondence.

Sincerely,

/s/ Timothy Elliott

Managing Director and Chief Regulatory Counsel 

Attachment: Exhibit 1
EXHIBIT 1

Aluminum Large Participant Development Program

Program Purpose

The purpose of this Program is to encourage market participants to increase volume and open interest in 

the product listed below. A more liquid contract benefits all participants in the market.

Product Scope

All metals futures that are traded on the CME Globex Platform (“Globex”) or cleared through CME 

ClearPort (“Products”).

Eligible Participants

There is no limit to the number of participants that may participate in the Program. Participants must be 

COMEX 106.J and NYMEX Members, or COMEX individual members (in accordance with the CME 

Group Fee Policy Bulletin regarding Individual Members Trading on Globex).

Hours

N/A

Program Term 

Start date is January 1, 2024. End date is March 31, 2025.

Obligations

In order to be eligible to receive incentives, participants must meet certain volume and open interest

thresholds.

Incentives

Upon meeting all requirements, as determined by the Exchange, participants will receive predetermined

incentives.

Monitoring and Termination of Status

The Exchange shall monitor trading activity and participants’ performance and shall retain the right to 

revoke participant status if it concludes from review that a participant has failed to meet the requirements 

of the Program.