NYBOT Announces New Coffee And Cotton Margins

The New York Board of Trade® (NYBOT®) announced today that effective with the opening of business on Wednesday, December 1, 2004, the coffee and cotton margin requirements are as follows:

COFFEE (KC)
	Initial	Maintenance
Spec (Per Contract)	3,080 USD (+455 )	2,200 USD (+325 )
Hedge (Per Contract)	2,200 USD (+325 )	2,200 USD (+325 )
COFFEE MINI (MK)
	Initial	Maintenance
Spec (Per Contract)	1,050 USD (+175 )	750 USD (+125 )
Hedge (Per Contract)	750 USD (+125 )	750 USD (+125 )
COTTON (CT)
	Initial	Maintenance
Spec (Per Contract)	1,400 USD (-280)	1,000 USD (-200)
Hedge (Per Contract)	1,000 USD (-200)	1,000 USD (-200)

Margin rates for all other NYBOT products remain unchanged. A complete grid of margin rates for all NYBOT products is available at www.nybot.com.

The New York Board of Trade (NYBOT) is New York’s original futures exchange, where the world trades food, fiber and financial products. For well over a century, the New York Board of Trade has provided reliability, integrity and security in a global marketplace for cocoa, coffee, cotton, ethanol, orange juice and sugar, as well as currency and index futures and options. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.