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New York Board of Trade® (NYBOT®), the world’s leading “soft” commodity exchange, announced today that commencing with the start of trading on Tuesday, October 17, 2006, and pursuant to exchange rules, the daily price limit for FCOJ “Back Months” futures contracts will expand from 5 cents above and below the prior day settlement price to 8 cents above and below the prior day settlement price. As of October 17, Back Months for FCOJ futures are all contract months from the March 2007 through the May 2008 contracts.
Under NYBOT rules, the expansion in limits is triggered because at least three Back Month contracts have settled up the then-current 5 cent limit for three consecutive trading days. The Back Month limit will remain at 8 cents until less than three Back Months close at the limit in the same direction; when this occurs, the limit will revert to the original 5 cent level.
NYBOT’s FCOJ contract has a trading unit of 15,000 pounds of orange solids, and trades from 10:00 am to 1:30 pm (NY Time). For details of the FCOJ price limit rule, see the NYBOT Rule Book, which can be accessed from the home page 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, 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.
