Previously, issuer and stopper information was delivered at separate times, whereas now it will be delivered earlier and at the same time (on the eve of the notice day). Also, each of NYBOT's five commodities used to have its own spreadsheet format, whereas now it's been standardized into one format.
"One of my main goals is to provide our members and partners with tools that help them make the most of our markets," said Mark D. Fichtel, President and CEO of NYBOT. "By making our delivery notices available sooner and in one format, we're making it easier to read our data in a more timely and efficient manner."
The NYBOT will implement the new procedures for its other commodities as each delivery is due, excluding cotton, which will begin with the October delivery period.
The New York Clearing Corporation (NYCC), NYBOT's clearinghouse, allocates notices for cocoa, coffee, cotton, and orange juice based on reported long positions and notice(s) issued on the evening prior to notice day, and shortly after 5:00 pm (EST), NYCC initiates allocation information. Sugar notices are allocated based on cleared positions and therefore are not allocated until the morning of the notice day.
Delivery notices are available on the NYBOT website at www.nybot.com in the Market Information section under the Trader's Reports.
The NYBOT delivery notice system provides tools to maintain the process of reporting, issuing, detailing, and allocating of commodity futures for delivery. Clearing members report long and short positions for its house and customer accounts for each commodity every business day during the notice period, and issue a notice for intention to deliver one or more futures contract of a specific commodity in the format described by the NYBOT exchanges. Clearing members are required to supply specific information concerning the application or contract being issued during such delivery period.
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 and their subsidiaries and divisions, including the NYFE, FINEX, and Citrus Associates, NYBOT offers a wide variety of agricultural, currency and index products.
