SOFTS CONTRACTS

Coffee | Cocoa | Cotton | Sugar | Orange Juice | Lumber

Coffee Contracts Overview | Quote-board

FUTURES

OPTIONS

Trading Unit 37,500 lbs. (approx. 250 bags) Trading Hours 9:15 am to 12:30 pm; closing period commences at 12:28 pm Price Quotation Cents per pound Delivery Months March, May, July, September, December Ticker Symbol KC Minimum Fluctuation 5/100 cent/lb., equivalent to $18.75 per contract. Last Trading Day: One business day prior to last notice day. First Notice Day: Seven business days prior to first business day of delivery month. Last Notice Day: Seven business days prior to last business day of delivery month. Daily Price Limits: None Position Limits: Spot Month: 500 contracts as of the first notice day in the expiring month. Additionally, Position Accountability Rules apply to all futures and options contract months. Contact the Exchange for more information. Standards: A Notice of Certification is issued based on testing the grade of the beans and by cup testing for flavor. The Exchange uses certain coffees to establish the "basis" coffees judged better are at a premium those judged inferior are at a discount. Deliverable Growths: Country Differential Mexico, Salvador, Guatemala, Costa Rica, Nicaragua, Kenya, New Guinea, Panama, Tanzania, Uganda Basis Colombia Plus 200 pts Honduras*, Venezuela, Peru* Minus 100 pts Burundi, India*, Rwanda Minus 300 pts Dominican Republic, Ecuador Minus 400 pts *Effective with the July 2005 delivery, the differential for India will be minus 100 points, and Honduras and Peru will be deliverable at Basis. Delivery Points: Exchange licensed warehouses in the Port of New York District (at par), the Port of New Orleans, the Port of Bremen/Hamburg , the Port of Antwerp , and the Port of Miami (at a discount of 1.25 cents/lb). (Exchange licensed warehouses in the Port of Houston become deliverable, at a discount of 1.25 cents/lb., commencing with the March 2005 futures contract.)

Trading Unit One coffee "C" futures contract Trading Hours See coffee futures Price Quotation Cents per pound  Contract Months "Regular Options": March, May, July, September, December "Serial Options": January, February, April, June, August, October, November Ticker Symbol KC Minimum Fluctuation 1/100 cent/lb., equivalent to $3.75 per contract. First Trading Day "Regular Options": Business day following the day on which the underlying future is listed for trading. "Serial Options": First business day of the third calendar month preceding the serial option month. Last Trading Day Second Friday of the calendar month preceding such regular or serial option month;  provided, however, that for each option, there will be a miniumof four (4) trading days between the last trading day of the expiring option and the first notice day of the expiring future. ExpirationDate/Time 9:00 PM NY Time on the last trading day. Notification of intention to exercise must be made by an options holder to a carrying member firm by 4:00 PM on such day. Daily Price Limits: None Position Limits: See Futures Specifications. Option Trading Cycles: Serial options (listed in italics) are short-life options providing additional option expirations on existing futures contracts. All options are designated by the month following the expiration of the option contract. Option Name Underlying Futures Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec March March March May May July July September September December December December Strike Price Increments Futures Contract Price All months Less than $1.00 $.025 Less than $2.00 $.05 $2.00 or more $.10

 

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