SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 22-126

Organization: Commodity Exchange, Inc. ("COMEX")

Filing as a: DCM SEF DCO SDR 

Please note - only ONE choice allowed.

Filing Date (mm/dd/yy): 04/12/22 Filing Description: Disable Cabinet Trades of Four (4) 

Metals Options Contracts

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: 

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

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

April 12, 2022

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. Disable Cabinet Trades for Four (4) Metals 

Options Contracts.

COMEX Submission No. 22-126

Dear Mr. Kirkpatrick:

Commodity Exchange, Inc. (“COMEX” or “Exchange”) is certifying to the Commodity Futures Trading 

Commission (“CFTC” or “Commission”) amendments to Rules 644101.C., 1008101.C., 1009101.C., and 

1010101.C., (“Price Increments”) of the four (4) metals option contracts noted in the table below (“the 

Contracts”) to disable cabinet trades (collectively, the “Rule Amendments”) effective Sunday, May 8, 2022

for trade date Monday, May 9, 2022.

Contract Title

Rulebook 

Chapter

Commodity 

Code

Iron Ore 62% Fe, CFR China (Platts) 

Average Price Option 644 ICT

Gold Weekly Option 1008 OG1-OG5

Silver Weekly Option 1009 SO1-SO5

Copper Weekly Option 1010 H1E-H5E

The Exchange has determined to implement the Rule Amendments as cabinet trades for the Contracts are 

not utilized by market participants.

The Rule Amendments are provided in Exhibit A below in blackline format.

The Exchange reviewed the designated contracts 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: The Exchange will publish on its website information 

regarding the Rule Amendments for the Contracts. A Special Executive Report (“SER”) will be 

published and posted to the CME website.

• Daily Publication of Trading Information: The Exchange will publish information contract trading 

volumes, open interest levels, and price information daily on its website and through quote vendors 

for the Contracts.
300 Vesey Street New York, NY 10282 T 212 299 2200 F 212 301 4645 christopher.bowen@cmegroup.com cmegroup.com

2

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 COMEX Rulebook Chapters 644, 1008, 1009, and 1010

 (blackline format)
3

Exhibit A

COMEX Rulebook

(deletions struck through)

Chapter 644

Iron Ore 62% Fe, CFR China (Platts) Average Price Option

***

644101. OPTION CHARACTERISTICS

 ***

644101.C. Price Increments 

Prices shall be quoted in dollars and cents per dry metric ton. The minimum price increment will be 

$0.01. A cabinet trade may occur at the price of $.002 per dry metric ton or $1.00.

 [Remainder of Rule is unchanged.]

Chapter 1008

 Gold Weekly Option

***

1008101. OPTION CHARACTERISTICS

 ***

1008101.C. Price Increments

Prices shall be quoted in dollars and cents per ounce and prices shall be in multiples of $0.10 per 

troy ounce. The minimum price increment will be $0.01. A cabinet trade may occur at a price of $0.01 

per troy ounce, or $1.00 per contract.

 [Remainder of Rule is unchanged] 

Chapter 1009

Silver Weekly Option

***

1009101. OPTION CHARACTERISTICS

 

***

1009101.C. Price Increments

Prices shall be quoted in dollars and cents per ounce and prices shall be in multiples of $0.001 per 

troy ounce. The minimum price increment will be $0.001. A cabinet trade may occur at a price of 

$0.002 per troy ounce, or $1.00 per contract.

 [Remainder of Rule is unchanged.]

 

 Chapter 1010

 Copper Weekly Option

***

1010101. OPTION CHARACTERISTICS

 ***

1010101.C. Price Increments

Prices shall be quoted in dollars and cents per pound and prices shall be in multiples of $0.0005 per 

pound. The minimum price increment will be $0.0005. A cabinet trade may occur at a price of $0.0004 

per pound, or $1.00 per contract.

 [Remainder of Rule is unchanged.]