| Spot Month | Any Single Month | All Months Combined | |||
| Exchange | CFTC | Exchange | CFTC | Exchange | CFTC |
| 300 | 300 | 2,500 | 3,500 | 4,500 | 5,000 |
The above limits are net limits for futures and options combined in futures equivalent contracts.
Because the Exchange limits are lower than the CFTC’s for the any single month and all months combined levels, any person seeking an exemption to the Exchange’s limits must file the appropriate application with the Exchange’s Market Surveillance Department. Exchange Rules 6.26, 6.27 and 6.28 describe the procedures for filing an application for an exemption to the Exchange’s limits. In order to maintain continuity between the Exchange and the CFTC procedures, the Exchange will accept a copy of the appropriate form that is filed with the CFTC as long as the application is signed by the member owning or carrying the positions.
Please note that the CFTC will also be monitoring the Cotton No. 2 position limits. Therefore, in accordance with Regulations 1.3(z), 1.47 and 1.48, a person must continue to file the appropriate forms with the CFTC when seeking an exemption from the CFTC’s limits.
If you would like a copy of the Rule showing language additions or deletions, please contract the Corporate Secretary’s office at +1 212 748-4082.
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, pulp 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.
