"One of our goals is to provide the cotton cash marketplace with an efficient trading environment," said Phillip C. Burnett, CEO and President of The Seam. "With the addition of NYBOT's real-time pricing data, our users now have all the tools they will need to make purchasing decisions right in front of them without having to log onto another system to find it."
Individuals must first have an account with NYBOTLIVE to be able to view NYBOT's real-time price quotes on The Seam. After joining, price quotes will automatically appear on The Seam whenever the user is logged in. To sign-up for NYBOTLIVE, visit www.nybotlive.com; the cost is $94.00 per month for the initial user, and additional screens at the same location for the same company are $11.00 per month.
"We welcome this arrangement with The Seam," said Charles H. Falk, President and CEO of NYBOT. "The Seam and NYBOT both provide the cotton marketplace with ideal environments for price discovery, and the added feature of our real-time prices on The Seam will make the market even more efficient."
NYBOTLIVE also provides a feature-rich client software package with extended data presentation and robust charting tools. The client software can be used simultaneously with The Seam's Domestic Trading system and real-time quotes.
The exchange formally launched NYBOTLIVE on March 17, 2003, which allowed for the direct access of NYBOT's real-time prices. Before NYBOTLIVE, data was available through traditional vendors.
NYBOT's market prices originate in their historic open outcry trading pits where numerous price reporters enter pricing data directly into hand-held wireless computers as trades are executed. The data then goes to NYBOT's mainframe computers and out to the world through the traditional data vendors and over its website through NYBOTLIVE.
The Seam is a totally neutral Internet-based global marketplace for the buying and selling of cotton. Users of The Seam increase their profits through improved transaction process efficiencies, expanded exposure to potential customers and suppliers, constant access to real-time market information, and guaranteed domestic trades. The United States Department of Agriculture selected The Seam as its online marketer of Commodity Credit Corporation (CCC) upland and extra long staple (ELS) cotton inventories. For more information about The Seam visit www.theseam.com.
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, 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 and www.nybotlive.com.
