What is the NYMEX Soft offering?
NYMEX is launching 6 new financially settled contracts. The contracts are Sugar 11 and 14 (World & Domestic), Coffee (Washed Arabica), Cocoa, Cotton and Frozen Concentrated Orange Juice.
What are the contract symbols, sizes, and tradable months?
Product |
Symbol |
Size |
2007 Contract Months |
Cocoa |
CJ |
10 Metric Tons |
Mar, May, Jul, Sep, Dec |
Coffee |
KT |
37,500 lbs |
Mar, May, Jul, Sep, Dec |
Cotton |
TT |
50,000 lbs |
Mar, May, Jul, Oct, Dec |
Sugar 11 |
YO |
112,000 lbs |
Mar, May, Jul, Oct |
Where when and how can I trade these products?
The contracts will be listed on NYMEX Clearport Trading and Clearport
Clearing for trade date December 21, 2006 to be followed by a CME Globex™
launch in January 2007. Trading hours are 6:00 PM thru 5:15 PM, New York
time, Sunday thru Friday. Trades can be brokered and submitted to Clearport
Clearing or alternatively executed on Clearport Trading once traders are
registered and the Citrix Client application is downloaded. You can register
for Clearport Trading here.
How are the products margined?
Initial and Maintenance Margins for these products are as follows:
Product |
Clearing Member / Maintenance
Margin |
Member Customer Initial
Margin |
Non-Member Initial Margin |
CJ |
750 |
825 |
1013 |
KT |
2000 |
2200 |
2700 |
TT |
1500 |
1650 |
2025 |
YO |
750 |
825 |
1013 |
When is the last trading day for these products?
The Last Trading Day for NYMEX Soft's Contracts shall be at the the
close of business immediately preceding the First Notice Day on the New
York Board of Trade.
How is the daily settlement determined?
The Exchange shall publish a Settlement Price which shall be set at the corresponding monthly value of the physically settled New York Board of Trade futures contracts or as specified by the NYMEX Board of Directors.
How is the final settlement determined?
The Exchange shall publish a cash settlement price on the last day of trading for the contract month based on the last day of trading in the corresponding month for the physically settled contract at the New York Board of Trade.
What are the Intra-Commodity Spread Margins for all months?
Product |
Clearing Member / Maintenance
Margin |
Member Customer Initial
Margin |
Non-Member Initial Margin |
CJ |
150 |
165 |
203 |
KT |
150 |
165 |
203 |
TT |
300 |
330 |
405 |
YO |
200 |
220 |
270 |
Who can clear these products?
All NYMEX and COMEX clearing members can clear these contracts.
What are the NYMEX fees for these products?
There will be no fees to trade these 6 products for the first 6 months of trading.
Are spreads, TAS and options available for trading on these contracts?
Spreads, Trade At Settle and Options will be available at a later date.
Where can I find more information and product specifications?
You can receive more information by calling our marketing hotline at 212.299.2301 or accessing the NYMEX website at www.nymex.com/softs.
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