Due to the transfer by Exchange-approved carrier, all of the metal which meets the futures contract specifications, remains eligible for delivery against the respective contract. These stocks will continue to be identified separately on the Exchange's daily warehouse stock report and will not be intermingled with the Brink's inventory.
ScotiaMocatta has applied to establish a new Exchange-licensed depository in New York City for silver, gold, platinum, and palladium. Upon approval, the metal being held in ScotiaMocatta's custodial account at Brink's will be relocated to this facility using an Exchange-approved carrier.
Prior to the establishment of its new facility as an Exchange-licensed depository, ScotiaMocatta will offer its clients the options of leaving the metal in storage; selling it to ScotiaMocatta; exchanging depository receipts for those of another Exchange-licensed depository acceptable to ScotiaMocatta, with any ounce differential cash-settled on the basis of a published price determined by ScotiaMocatta; or delivering replacement metal to a mutually agreeable location, in exchange for the metal at the ScotiaMocatta depository, subject to payment by the client of the current price differential, as quoted by ScotiaMocatta.
The Exchange plans to rescind its emergency rules which allowed an individual or firm taking delivery to reject a warrant for metal on deposit at the ScotiaMocatta vault.
