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To: lorne who wrote (76936)	9/19/2001 9:58:27 AM
From: lorne	Read Replies (1) \| Respond to of 116892

Nymex Implements New Procedures For Metals Deliveries Wednesday September 19, 3:30 AM NEW YORK (Dow Jones)--The destruction of warrants for precious metals deliveries issued by licensed depositories and the inaccessibility to metals stored under the razed World Trade Center has prompted the New York Mercantile Exchange to implement new procedures and a temporary emergency rule, the exchange announced Tuesday. The bars of gold, silver, platinum and palladium are stored at ScotiaMocatta Depository Corporation located in a vault beneath 4 World Trade Center and may not be available until the debris from last week's collapse has been cleared. Its status as a viable depository is currently unknown, Nymex noted. ScotiaMocatta is the metals-trading arm of the Bank of Nova Scotia (T.BNS). Nymex has approved replacing the lost warrants with new warrants issued by an Exchange-licensed depository, as long as the chain of custody can be documented, an affidavit of loss is prepared by the warrant holder and the clearing member of the original warrant guarantees the validity of the chain of custody. The chain of custody must be documented either by the street invoice issued by the clearing house, the records of the depository proving the original warrant was issued, transfer letters issued by the clearing house, or a photocopy of the original warrant. If a chain of custody can't be verified by documents from the licensed depository, the clearing member or the Exchange clearing house, the holder of the warrant must obtain an open penalty indemnity bond for the lost or stolen instrument, Nymex said. If a clearing member taking delivery is provided a warrant from the ScotiaMocatta Licensed Depository and refuses to accept transfer of title of metal located there, that member "may require that the clearing member making delivery provide either a warrant from another Exchange licensed depository, or physical metal, meeting the specifications of the applicable metal contract, in a mutually agreed upon location," in accordance with certain guidelines. Those guidelines stipulate that, if agreed to by the member accepting delivery, the clearing member making delivery will execute an alternative notice of intention to deliver on the form prescribed by Nymex and then deliver a completed, executed copy of the intention to deliver to the Exchange. That delivery will release the clearing members and the Exchange from their respective obligations under the Exchange contracts. Clearing members, in executing this notice, "shall indemnify the Exchange against any liability, cost, or expense it may incur for any reason as a result of the execution, delivery or performance of such contracts or such agreement, or any breach thereof or default thereunder," Nymex's published release said. The Exchange will also be required to return all margin money held for each clearing member's account to the appropriate clearing member upon receiving the alternative notice of intention to deliver. in.biz.yahoo.com

To: lorne who wrote (76936)	9/19/2001 10:36:02 AM
From: Ahda	Read Replies (1) \| Respond to of 116892

OT I think i could very well of picked up the new worm due to communication with my son prior to his company going down. My update of virus protection does not seem to be able to get into the web set to update. The difficulty we face here being a tech driven economy is the cost is tremendous. I going sound as if i come from a cave but improvements in technology and past products we created were greeted with a huge demand as they eased and elevated our lives. I thought today about how many people could have termite ridden computers you can't see termites and if you don't have an inspector check for them the house finally has all it beams in terribly weak shape. This bothers me because interconnection is feasible for all computers. To create safety we are continually adding patches and increasing costs. The results are that this is perpetual but so is the cost portion of it a debit to the profit structure. The difference we have here is that most inventions have increased ease of life and at some point create a profit that goes into the creation of a new product but we are spending huge amounts just to keep our new product up and running. Every day we face a higher probability that we can be shut down if not by air by our own inability to secure what we have created. The cost of this is not easy to absorb. We are not alone here by any means i can see where some whacko might get a kick out of getting in and reprogramming a robot of some sort who operates in a sheet factory. Low and behold the rivets are all on the walls instead of on the sheet metal. We lack ethics or we seeing a new breed of people who have no respect for other people. It is scary stuff and the cost to secure is becoming greater every day and security is now not only an illusion job wise but nation wise.