NYBOT Announces New Coffee, FCOJ And Cotton Margins

The New York Board of Trade® (NYBOT®) announced today that effective Wednesday, November 17, 2004, the new margin requirements are as follows:

COFFEE (KC)
	Initial	Maintenance
Spec (Per Contract)	2,625 USD (+665 )	1,875 USD (+475 )
Hedge (Per Contract)	1,875 USD (+475 )	1,875 USD (+475 )
COFFEE MINI (MK)
	Initial	Maintenance
Spec (Per Contract)	875 USD (+210 )	625 USD (+150 )
Hedge (Per Contract)	625 USD (+150 )	625 USD (+150 )
FCOJ (OJ)
	Initial	Maintenance
Spec (Per Contract)	1,050 USD (-210)	750 USD (-150)
Hedge (Per Contract)	750 USD (-150)	750 USD (-150)
COTTON (CT)
Straddle (December 2004 Only)
Spec (Per Contract)	840 USD (+280 )	600 USD (+200 )
Hedge (Per Contract)	600 USD (+200 )	600 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