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NYBOT's Margin Rules Amended to Permit FCMS’ Acceptance of Approved Money Market Mutual Funds

Date 26/06/2002

The New York Board of Trade (NYBOT)® announced today that effective immediately, amendments to its Coffee, Sugar and Cocoa Exchange, Inc.'s (CSCE) and New York Cotton Exchange's (NYCE) Margin Rules are being implemented that permit futures commission merchants (FCMs) to accept from their customers shares of money market mutual funds (MMMFs) that have been approved by the New York Clearing Corporation (NYCC) as payment for initial and maintenance margin. The value of the MMMFs will be set at an amount that does not exceed their market value less applicable haircuts required by SEC Regulation 240.15c3-1.