SUBMISSION COVER SHEET

IMPORTANT: Check box if Confidential Treatment is requested 

Registered Entity Identifier Code (optional): 23-286

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): 07/26/23 Filing Description: Correction to the Termination of 

Trading Rule of the Platinum Option and Palladium Option 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

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: See filing.

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

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Christopher Bowen 

Managing Director and Chief Regulatory Counsel

Legal Department

July 26, 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. Correction to the Termination of Trading Rule 

of the Platinum Option and Palladium Option Contracts.

NYMEX Submission No. 23-286

Dear Mr. Kirkpatrick:

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

Trading Commission (“CFTC” or “Commission”) amendments to Rule XXXX01.E. (“Termination of Trading”) 

of the Platinum Option and Palladium Option contracts (the “Contracts”) (collectively, the “Rule 

Amendments”) effective August 11, 2023.

Contract Title Commodity 

Code Rulebook 

Chapter

Platinum Option PO 360

Palladium Option PAO 119

Specifically, the Exchange is correcting the Termination of Trading rule for the Contracts to delete language 

that indicates if the termination date is the day prior to an Exchange holiday, the termination of trading date 

then becomes the preceding business day. The procedure to determine termination of trading is currently 

operationally accurate and, therefore, no contract month termination dates have been or will be adversely 

impacted. The Rule Amendments will provide an accurate description of the Exchange’s long-standing 

operational practice on the methodology of the termination of trading of the Contracts. There will be no 

economic value impact as a result of the Rule Amendments.

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

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

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• 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. 

• 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.

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 NYMEX Chapters 360 and 119 (blackline format) 
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Exhibit A

NYMEX Rulebook

(deletions are struck through)

Chapter 360

Platinum Option

***

360101. OPTION CHARACTERISTICS

***

360101.E. Termination of Trading 

A Platinum option shall expire at the close of trading on the third Wednesday of the month preceding 

the option contract month; provided, however, that if such day is the day immediately prior to an 

Exchange holiday, the expiration date shall be the preceding business day. In the event that the 

official Exchange holiday schedule changes subsequent to the listing of a Platinum futures option, 

the originally listed expiration date shall remain in effect. In the event that the originally listed 

expiration day is declared a holiday, expiration will move to the business day immediately prior.

[Remainder of Rule is unchanged]

Chapter 119

Palladium Option

***

119101. OPTION CHARACTERISTICS

***

119101.E. Termination of Trading 

A Palladium option shall expire at the close of trading on the third Wednesday of the month preceding 

the option contract month; provided, however, that if such day is the day immediately prior to an 

Exchange holiday, the expiration date shall be the preceding business day. In the event that the 

official Exchange holiday schedule changes subsequent to the listing of a Palladium futures option, 

the originally listed expiration date shall remain in effect. In the event that the originally listed 

expiration day is declared a holiday, expiration will move to the business day immediately prior.

[Remainder of Rule is unchanged]