"There's growing interest today in investing in the currency market," said Charles H. "Harry" Falk, NYBOT President and CEO. "NYBOT is now meeting this demand by offering four new smaller versions of existing currency products. These contracts, with the security of a regulated exchange behind them, will be attractive investment opportunities to the retail investor, smaller CTAs, and Hedge Funds."
The Small U.S. dollar-Canadian dollar (symbol SV), the Small U.S. dollar-Japanese yen (symbol SN), and the Small U.S. dollar-Swiss franc (symbol MF) contracts are US$100,000 each in size, and the small British pound-U.S. dollar (symbol MP) contract size is 62,500 British pounds. All four contracts will have four trading months (March, June, September, and December), with a physical delivery. There will be no options offered on these new contracts. Margin rates, which will also be smaller, will be announced at a later date. The new currency products will trade virtually around the clock on the NYBOT's New York and Dublin FINEX exchanges.
The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges, NYBOT offers an expanding range of agricultural and financial products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.
