The Tokyo Grain Exchange Non-GMO Soybean Futures Launch

The partial amendments of the Business Regulations and Contract Terms for Brokerage that had been approved at the Extraordinary General Meeting of Members held on March 27, 2000, received authorization from the Ministry of Agriculture, Forestry and Fisheries on April 21, 2000 and shall come into effect from that day. The main points of the amendments are as follows:

The present listed U.S Soybean futures contract shall be separated into U.S. Soybeans which are GMO soybeans along with a mixture of GMO and non-GMO soybeans and a new futures contract-Non-GMO Soybeans. The amended U.S. Soybean contract shall come in effect on April 26, 2000 from the April 2001 contract month which deliverable grades will include the states of Iowa, Illinois and Wisconsin.

The new Non-GMO Soybean contract will be launched on May 18, 2000 starting with the Dec. 2000, February 2001 and April 2001 contract months.

To prepare for the launch of the Non-GMO Soybean futures contract, the trading hours for Raw Sugar futures and options will change. The new trading hours for raw sugar futures are: AM 1st session, 09:30; AM 2nd session, 10:30; PM 1st session, 13:30; PM 2nd session, 14:30; PM 3rd session, 15:30. The trading hours for raw sugar options are: Morning opening, 09:40-10:00, Morning continuous, 10:00-11:30. Afternoon opening, 13:30-23:45, Afternoon continuous, 13:45-15:40, Closing, 15:40-15:50.

The amendments of the trading hours for Raw Sugar futures and Raw Sugar Options shall come into effect from May 1, 2000.