The New York Board of Trade® (NYBOT®), the world’s leading “soft” commodity exchange, announced today that in accordance with its New York Clearing Corporation (NYCC) rules, it will utilize an alternate price for purposes of margining outstanding positions at the clearing member level for December 11, 2006.
The relevant provisions of the rule are triggered whenever a Frozen Concentrated Orange Juice (symbol OJ) futures contract month ends the trading day locked at either limit-up or limit-down; the alternate price is derived from the respective futures contract month’s corresponding options contract at the market close or the imputed value through futures spread prices. Under the Resolution, Clearing Members must use this same alternate price for purposes of collecting margins as required by margin rules.
The Orange Juice futures and options contract months for which NYCC will utilize an alternate price, the futures contract settlement price and the alternate price for business day December 11, 2006, are as follows:
Contract Settlement Alternate
Month Price Price for Settlement Purposes
May ’07 1.9930 1.9725
July ’07 1.9830 1.9675
September ’07 1.9830 1.9625
All other months listed for trading not shown above will be margined at their Settlement Price.
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, wood 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. To learn more about New York Board of Trade Futures & Options for Kids, the Exchange’s non-profit group, please go to www.futuresandoptionsforkids.org.
