.jpg)
The New York Board of Trade® (NYBOT®) announced today amendments to its Frozen Concentrated Orange Juice (FCOJ) and Not From Concentrate (NFC) daily trading limit rules and also licensing rules:
Pending CFTC approval, effective with the start of trading on January 2, 2007, the Exchange is implementing amendments to its FCOJ Rules and NFC Rules. The amendments provide that all futures contract months for FCOJ and/or NFC shall have an expandable 10 cent per pound daily trading limit. The amendments also provide for a trading suspension following a limit up or down move in the Lead Month, which is defined as the futures delivery month carrying the most open interest. The amendments also clarify the definition of reaching a limit and state that all questions with respect to these rules and their implementation shall be determined by the Settlement Committee.
Pending CFTC approval, effective on December 29, 2006, the Exchange is implementing amendments to its FCOJ and NFC Licensing Rules to provide the requirement that each FCOJ Licensed Facility be under any one of three inspection regimes: USDA Continuous Inspection; USDA Quality Assurance Program inspection; or Florida Quality Systems Certification program inspection. This requirement replaces the current requirement that such facilities be under USDA Continuous Inspection. This amendment applies to FCOJ Licensed Facilities only as there is no inspection requirement for NFC Licensed Facilities.
The amendments also make explicit in the Rules the requirement that each FCOJ and NFC Licensed Facility must as a term of its license provide an on-site laboratory that is accepted by the USDA for purposes of USDA performance of grading and testing of product on loadout under the respective contract rules.
For a copy of the NYBOT rules, please visit the NYBOT website 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.
