Notice No. 01-41
January 31, 2001

TO:  ALL NYMEX MEMBERS AND MEMBER FIRMS

FROM:  Neal L. Wolkoff, Executive Vice President

RE: Amendments to NYMEX Rule 6.40B (Trading at Settlement (Pilot Program)): 
Extension of Pilot Program

DATE:  January 31, 2001
__________________________________________________________

Please be advised that the Exchange has amended NYMEX Rule 6.40B (Trading at 
Settlement (Pilot Program)). The amendments, which are attached below, become 
effective tomorrow on February 1, 2001. Briefly, the pilot TAS programs now 
in effect for Crude Oil and Natural Gas futures contracts are being extended 
until further notice from the Exchange.

If you have any questions concerning the above, please contact George 
Henderson, Vice President, Floor Data Entry and Systems, NYMEX Floor 
Department, at (212) 299-2071, or Brian Regan, Senior Associate General 
Counsel at (212) 299-2207.

(Asterisks indicate additions, and brackets indicate deletions.)

Rule 6.40B TRADING AT SETTLEMENT (PILOT PROGRAM)

 (A) Trading at Settlement Procedure.   A floor member may enter into a 
transaction at the settlement price through open outcry with another floor 
member in any futures contract and delivery month specified in section (C) of 
this rule.  Any such trade (collectively referred to as a trading at 
settlement or TAS) shall be made by open outcry no later than 3:10 p.m. or 
such other time as designated by the Board on that same trading day in the 
trading ring designated for trading in the particular contract.

 (B) Reporting and Recordation.   All TAS transactions shall be identified as 
such on the executing member's trading records prepared in accordance with 
Rule 6.10 (Reporting of Trades Executed on the Trading Floor).

 (C)Transactions Eligible for Board Approval For Trading at Settlement 
Procedures.

The Board may, by resolution, authorize the execution of transactions in any 
or all of the futures contracts and delivery months specified below pursuant 
to the TAS order procedures set forth in this Rule 6.40B.

 Futures
 Contract    Delivery Month

Crude Oil     Spot Month (except on the last trading day)

Natural Gas Spot Month (except on the last trading day)

(D) This pilot program shall expire on the following dates:

 Futures
 Contract    Expiration Date

 Crude Oil    * extended until further notice * [January 31, 2001]
Natural Gas    * extended until further notice * [January 31, 2001]


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