Given that the underlying futures months currently available for trading extend to May 2005, this means that as the distant futures months open, their relating option serial months will be available for trading, potentially out to April 2005. This amended listing procedure becomes effective Monday, June 30, 2003.
"A growing number of market participants are transacting cash business for settlement in more distant months outside of the ordinary futures trading months," said KCBT Chairman John Crowe. "In order to provide these users with a risk management tool that best matches the risk associated with these cash transactions, we will now offer the maximum allowable number of serial options contracts."
The Kansas City Board of Trade, chartered in 1876, is the world's largest futures market for hard red winter wheat. Options give a buyer the right, but not the obligation, to buy or sell a KCBT wheat futures contract at a specified price.
