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The year 2006 will be remembered at the New York Board of Trade® (NYBOT®) as one of both monumental change and explosive growth. From the historic merger transaction with the IntercontinentalExchange (NYSE: ICE), the leading electronic energy marketplace, to record volumes and growth, as well as the introduction of many new technological developments – 2006 is a year to be remembered.
Total 2006 volume for the 136-year old exchange was a record 44,667,169 futures and options contracts, up 18% from the previous 2005 yearly record volume of 37,945,585 contracts (a grid of category and individual volumes is below).
“We saw sizable growth in practically all our markets during 2006, and the past year has now gone down in the record books as the best year our exchange has ever had,” said Frederick W. Schoenhut, NYBOT Chairman. “In addition, we implemented monumental change in the way we conduct business, from the merger transaction with ICE, to the many new products and services we launched throughout the year. We expect the upcoming year to hold even more growth and opportunities, and I personally want to thank the NYBOT Board, our Members and Staff, and all the many market users throughout the world for making 2006 our best year ever.”
Throughout 2006, NYBOT set numerous records in many different products, including Monthly Volume, Agricultural Futures, Total Futures, and highest Daily Trading volume. Other high marks for NYBOT include the futures market, which reached a new record during 2006 with 32,746,692 contracts, up 13% over the previous year; the options market also set a new record with 11,920,477 contracts being traded, jumping 33%. Ag futures and options at NYBOT both established new records of 39,900,031 contracts, of which futures were up 15% and options contracts were up 35%.
Joe O’Neill, NYBOT’s Senior Vice President, said: “This record volume activity is proof that NYBOT is the leading soft commodity exchange in the world, where for over 136 years, all segments of the many different industries have come to trade and warehouse our renowned products. We take this responsibility very seriously, and seek to establish ever-stronger personal relationships with our community, built on mutual respect, integrity and trust.”
Individual yearly product increases and records during 2006 include:Cocoa (symbol CC) futures is up 23%, an annual volume record. On April 12, cocoa set a futures daily volume record of 38,729 futures contracts. A monthly volume record of 333,275 contracts was also set in June for cocoa futures. - Sugar No. 11sm (symbol SB) futures volume is up 16% and reached an annual volume record, and options grew 72%, also hitting a yearly volume record. NYBOT’s World Sugar market on January 20 set a record with 232,560 combined contracts. Sugar options achieved a monthly volume record of 768,559 contracts in January. Also, a record number of Sugar No. 11 contract deliveries occurred on October 2 of 22,429 contracts.
- Cotton No. 2sm (symbol CT) futures is up 17%, an annual volume record, and options increased 6%. A new Cotton daily futures volume record was set November 13, of 61,464 contracts, and a monthly volume record was set in June for Cotton futures of 601,971 contracts.
- Coffee “C”® (symbol KC) futures climbed 11%, an annual record, and options grew 18%, also an annual volume record. A coffee futures monthly volume record was set during November with 492,904 contracts traded. A new futures daily volume record was set on November 17 with 49,101 contracts, and also the options contract had a daily volume record of 28,625 contracts, set August 3.
- Frozen Concentrated Orange Juice (symbol OJ) futures were up 2%.
- U.S. Dollar Index® (symbol DX) futures were up 1% and options grew 11%. On June 12, daily futures volume hit 28,701 contracts, the highest levels in the twenty-one year history of the Exchange’s exclusive DX market.
- Russell 1000® Index (symbol R) options had a contract daily volume record of 4,214 contracts, traded on June 14. In January, the Continuous Commodity Index (CCI) had a record monthly volume of 2,231 contracts.
- Merger agreement: On September 14, NYBOT and ICE announced that the two exchanges had entered into a definitive merger agreement, and upon consummation of the agreement, NYBOT would become a wholly-owned subsidiary of ICE. On December 11, 93% of the voting NYBOT members approved the proposed merger transaction in a special member meeting. For more information on the transaction, please visit www.nybot.com or www.theice.com.
- MOU Partnerships: In September, NYBOT and the Singapore Commodity Exchange (SICOM) announced the signing of a historic Memorandum of Understanding (MOU), and in February, NYBOT and the Multi Commodity Exchange of India Limited (MCX) signed an MOU.
- Seat Prices: NYBOT seat prices continued the climb upwards, starting the year at $510,000 and culminating in mid-November at $1.4 million, up $890,000 for the year. Effective on the close of business December 19, 2006, the Exchange stopped accepting bids or offers for equity memberships.
- eCOPS®, LLC: NYBOT’s fully electronic commodity delivery system announced with the Sydney Futures Exchange Limited (SFE) that the two groups agreed to explore the use of eCOPS for the issuance, safe keeping and transfer of electronic documents of title for Australian commodities. Also, on July 21, Frozen Concentrated Orange Juice (FCOJ, symbol OJ) delivery capability was added to the eCOPS system.
- NYBOTLive: On December 15, NYBOTLive, the Exchange’s real-time market data service which provides product prices and a package of support capabilities directly over the Internet, launched its new NYBOTLive Streaming Real Time Mobile Service, which pushes all of the exchange’s NYBOTLive real-time market data out to BlackBerry and other similar handheld devices. The Mobile option is available for free to all subscribers of NYBOTLive real-time data.
- NYBOT.COM: The exchange website continues to add new features and content, including twice daily market reports added to NYBOTV, the exchange’s free streaming video service, and more market commentary added to the Research Report section and daily clips in NYBOT in the News.
- Contract Modifications/Actions: Throughout the year, NYBOT updates its contracts to keep them current, by adjusting trading hours, contract specifications, and more – a key strength to the flexibility of the NYBOT markets. Among the many modifications throughout the 2006 year include: the Exchange announced in April it was adding Mozambique as a deliverable origin for its sugar contract, and in February, the Exchange added the Port of Barcelona, Spain, as a delivery point for its Coffee “C” futures contract. Finally, two new brands of pulp were added for delivery.
- NYBOT Futures & Options for Kids: In 2006, the Exchange’s charity raised a record $1,000,000 from NYBOT members, staff and those throughout the futures industry – a record amount.
- Education: In October, NYBOT hosted a seminar entitled “Sugar Options Strategy and Volatility Outlook” in Sao Paulo, Brazil, and in April, NYBOT hosted a free seminar in New York entitled “The New Face of the Sugar Market.”
The full NYBOT Volume and Open Interest Report is available 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.
Category YTD Volumes
|
|
2006 YTD |
2005 YTD |
% Increase |
|
Total Ag Futures |
28,233,129 |
24,486,440 |
15% |
|
Total Ag Options |
11,662,0576 |
8,663,470 |
35% |
|
Total Futures |
32,746,692 |
29,013,416 |
13% |
|
Total Options |
11,920,477 |
8,932,169 |
33% |
|
Total Futures & Options |
44,667,169 |
37,945,585 |
18% |
Individual Product YTD Volumes
|
|
2006 YTD |
2005 YTD |
% Increase |
|
Cocoa Futures |
3,169,202 |
2,582,927 |
23% |
|
Sugar No. 11 Futures |
15,100,721 |
13,007,072 |
16% |
|
Sugar No. 11 Options |
6,250,162 |
3,631,939 |
72% |
|
Cotton No. 2 Futures |
4,490,407 |
3,848,990 |
17% |
|
Coffee “C” Futures |
4,407,512 |
3,987,778 |
11% |
|
Coffee “C” Options |
2,785,053 |
2,370,161 |
18% |
|
FCOJ Futures |
923,696 |
902,019 |
2% |
