On March 23, the New York Mercantile Exchange (NYMEX) requested an order from the Commodity Futures Trading Commission that would permit NYMEX and registered futures commission merchants (FCMs) to hold in customer segregated accounts positions and funds related to NYMEX’s clearing of futures and options on futures traded on or subject to the rules of the Dubai Mercantile Exchange Limited (DME). Under the requested order, NYMEX and FCMs would be allowed to “commingle” any customer secured (CFTC Rule 30.7) amounts held to support trading in DME contracts with U.S. customer segregated funds, subject to the rules applicable to such segregated funds. The request is based upon NYMEX’s status as the clearing house to DME and the exclusive use of NYMEX clearing members (and registered FCMs) to clear DME customer transactions.

The CFTC seeks public comment regarding the NYMEX proposal.