The NYBOT Executive Committee in session on the afternoon of September 21, directed
staff to make the following changes in its' Long Island facility
as rapidly as possible:
- Move Finex and NYFE from the corners of the LIC trading floor to a trading room off of the member staging area; this should be completed on Tuesday or Wednesday.
- Reconfigure the trading floor and TIPS area by:
- moving TIPS to the member staging area
- putting two smaller pits in the former TIPS area
- trading Cocoa and FCOJ futures and options in the new, smaller pits, with longer hours
- Using the larger trading pits to trade Coffee, Sugar, and Cotton on longer hours.
As soon as the Executive Committee has an estimate for time of completion of the new pits, it will be posted on the NYBOT web site, along with any further information.
Tentative lengthened trading hours would be:
- Coffee, Open: 6:30am, Close: 9:15am
- Cocoa, Open: 8:00am, Close: 11:00pm
- Sugar, Open: 9:45am , Close: 12:45pm
- OJ , Open: 12:00pm, Close: 3:00pm
- Cotton, Open: 1:15pm, Close: 4:00pm
Discussions continue on a cooperative basis with NYMEX, regarding NYBOT moving to their facility. Upon any specific developments, the NYBOT will inform members and staff promptly. NYMEX asked the NYBOT today to provide all EOR/OBMS detail and specifications. In the spirit of cooperation, the NYBOT is asking Micro Design Systems to provide this information.
