NYBOT Announces New Cotton Margin Requirements

The New York Board of Trade® (NYBOT®) announced today that effective with the opening of business on Tuesday, September 16, 2003, the margin requirements for Cotton are as follows:

COTTON (CT)
	Initial	Maintenance
Spec (Per Contract)	1,680 USD	1,200 USD (+200)
Hedge (Per Contract)	1,200 USD	1,200 USD

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