NYBOT Announces New Cotton And Sugar Margin Requirements

The New York Board of Trade® (NYBOT®), the world's leading "soft" commodities exchange, announced yesterday that effective with the opening of business on Wednesday, November 5, 2003, the Cotton and Sugar #14 margin requirements are as follows:

COTTON (CT)
	Initial	Maintenance
Spec (Per Contract)	2,660 USD	1,900 USD (+$200)
Hedge (Per Contract)	1,900 USD	1,900 USD

SUGAR #14 (SE)
	Initial	Maintenance
Spec (Per Contract)	560 USD	400 USD (- $100)
Hedge (Per Contract)	400 USD	400 USD

Margin rates for all other NYBOT products remain unchanged.

A complete grid of margin rates for all NYBOT products is available on our web page @ www.nybot.com

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.