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The New York Board of Trade® (NYBOT®) announced today that starting with the first options contract that has the March 2009 futures as its underlying (which is the November 2008 Sugar No. 11 Options contract), an amendment to its Sugar Rules will be implemented. The amendment provides that the Last Trading Day for Sugar Options shall be the 15th calendar day of the month in which such Option expires, or, if the 15th is not a Business Day, the next succeeding Business Day. (The Last Trading Day for all Options contracts expiring prior to the November 2008 serial shall remain unchanged.) Pursuant to the amendment, the Last Trading Day for the November 2008 Sugar No. 11 Options contract will be October 15, 2008.
Commencing with all Sugar No. 11 Options on Futures Spread contracts which have the July 2007 futures contract as the first month in the pair, an amendment to its Sugar Rules will be implemented. The amendment provides that the Last Trading Day for Sugar No. 11 Options on Futures Spreads shall be the 15th calendar day of the calendar month in which the Option Contract of the first expiring delivery month in the pair expires, or, if the 15th is not a Business Day, the next succeeding Business Day. (The Last Trading Day for all Options on Futures Spread contracts which have as the front month in the pair the March 2007 or May 2007 futures contract shall remain unchanged.) Pursuant to the amendment, the Last Trading Day for all Sugar No. 11 Options on Futures Spread contracts that have the July 2007 futures contract as the first month in the pair will be June 15, 2007.
Additionally, effective with the commencing of the March 2009 Sugar No. 11 expiration, an amendment to the NYBOT Sugar Rules is being implemented to add the Emirate of Dubai to the list of destinations for which settlement is to be made on the basis of net landed weights and tests taken at the port of discharge.
To request a copy of the NYBOT rules showing language deletions and/or additions, please call the Corporate Secretary’s Office at (212) 748-4082.
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.
