"The early activity and steady growth of our new SPCI contract displays its increasing importance and acceptance among those in the financial community," said Mark D. Fichtel, President and CEO of the New York Board of Trade. "We look forward to the SPCI's continued success and encourage others in the financial community to investigate this exciting new investment vehicle." The SPCI (Standard and Poor's Commodity Index) was introduced at a ceremony at NYBOT on August 9, 2001, and the futures and options contracts began trading at NYBOT on October 19, 2001. SPCI contracts trade at NYBOT from 10:00 am to 2:45 pm (EST).
The SPCI tracks 17 commodities in six sectors including grains, meat and livestock, metals, softs (coffee, sugar, cocoa), fibers, and energy. The index uses real-time prices of the relevant futures contracts traded on the commodities futures markets in New York and Chicago. Noted attributes of the SPCI include its geometric calculation methodology and a weighting adjustment that eliminates double counting of upstream and downstream commodities.
The New York Board of Trade (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 NYBOT offers an expanding range of agricultural, currency and index products. Information about the New York Board of Trade can be found at www.nybot.com.
