On December 27, 2001, the NYBOT Exchanges adopted a fee reduction program of up to $2 million for proprietary trades entered into on and after November 15, 2001 through December 31, 2001. The fee reduction program applies to all Exchange members, including lessees, except FINEX - European permit holders. The fee reduction program consists of rebates of such amounts as have been paid by such members and forbearance of such amounts as have not yet been billed or paid.
In addition, the NYBOT Board voted that, unless suspended by the Board, NYBOT would make available $1 million for the purpose of buying memberships during the calendar year 2002, when and as determined by a Committee to be appointed.
