NYBOT Announces Sugar Options Strike Price Reporting Change

The New York Board of Trade (NYBOT) announced today that effective with the start of trading on Monday, September 26, 2005, amendments to its Sugar Options rules will provide for a strike price interval of 25 points up to a price level of 10 cents per pound; for a strike price interval of 50 points at a price level above 10 cents per pound and up to 15 cents per pound; and for a strike price interval of 100 points at a price above 15 cents per pound.

To support implementation of the amendments, changes have been made to Exchange price reporting, trade capture and clearing systems to accommodate the new 25 point strike increment. For example, the 9 and 9.5 cent strike prices that are currently displayed in most systems as "90" and "95" respectively will be displayed as "900" and "950". In the same way, Trade Input Processing System (or TIPS) data entry for the 9 and 9.5 cent strikes that are currently entered as "90" and "95" will need to be entered as "900" and "950" respectively. These system changes will be implemented on September 26th as well.

To view the new rules, please visit the NYBOT website 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, 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.