Firms may apply for member firm privileges in the name of either one individual who will hold two Exchange seats or two individuals who will each hold one seat. Please note that the individual(s) who will hold the seats must also submit applications for membership. In either case, one of the individual(s) must either be: (i) the senior officer/senior partner of the firm responsible for its commodity futures activities or (ii) a senior executive officer/senior partner of the firm. Firms applying to both divisions must hold two seats on each division.

Check carefully to ensure that all required documents listed below are submitted with application, that each question on the application form has been answered, and that the application has been signed by the individual(s) who will hold the seats.

Please note that applications will not deemed filed until all documents and any additional information which may be requested has been submitted to the Exchange.

CHECKLIST

To be considered, applications for member firm privileges must include:

1. A non-refundable $700 application fee. (All checks should be made payable to the New York Mercantile Exchange).

2. Completed application form.

3. Financial Requirements:

   COMEX Division- An audited balance sheet showing working capital of $250,000 for corporations; $100,000 for partnerships.

   NYMEX Division- An audited balance sheet showing working capital of $100,000.

4. Legal Opinion, acceptable to the Exchange, that the firm is :

a. duly and validly organized and existing under the laws of the jurisdiction in which it was organized;

b. qualified to transact business under the laws of the jurisdiction in which it has its principal place of business; and

c. qualified to transact business in the State of New York or that such qualification is unnecessary.

5. Status certificate form for each individual who will confer privileges on the firm.

6. A certified copy of the certificate of incorporation/partnership agreement.

7. For corporations which have been incorporated in a jurisdiction other than New York, the firm shall submit documents which demonstrate that the corporation:

a. is qualified to do business in the State of New York; or

b. has authorized service of process upon the Secretary of State of New York; or

c. has designated an agent in the State of New York for receipt of service of process and the agent has authorized service of process to be made upon it.

8. Copies of the corporation's by-laws.

9. For partnerships which have been organized under the laws of the State of New York: a certified copy of the business certificate for partners. For partnerships organized under the laws of a jurisdiction other than New York: a certified copy of the partnership's application for foreign partnership.

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Along with the firm's application and required documents, application(s) must be submitted on behalf of the individual(s) who will confer membership privileges on the firm.

If you have any questions regarding the above checklist or the materials enclosed, please feel free to contact the member services department (NYMEX Division 212-299-2378) or (COMEX Division 212-299-2375).