SOFTS CONTRACTS

Cotton Contracts Overview | Quote-board

Contract specifications are current as of   Sept. 2, 2003  and may be subject to change.   Verify information with your broker. Contact the Exchange for more information an other specifications.

FUTURES

OPTIONS

Trading Unit 50,000 lbs. net weight (approximately 100 bales). Trading Hours 10:30 am to 2:15 pm; closing period commences at 2:14 pm Price Quotation Cents and hundredths of a cent per pound Trading Months Current month plus one or more of the next 23 succeeding months. Active trading months: March, May, July, October, December. Ticker Symbol CT below 95 cents per pound. 5/100 of a cent (or five "points") per Minimum Fluctuation 1/100 of a cent (one "point") per pound pound at prices of 95 cents per pound or higher.* N.B.: Spreads may always trade and be quoted in one point increments, regardless of price levels. Last Trading Day: Seventeen business days from end of spot month. First Notice Day: Five business days from end of preceding month. Daily Price Limits: 3 cents above or below previous day's settlement price.  However, if any contract months settles at or above $1.10 per pound, all contract months will trade with 4 cent price limits. Should no month settle at or above $1.10 per pound, price limits stay (or revert) to 3 cents per lb. Spot month - no limit on or after first notice day. Position Limits: Delivery Month                    300 contracts Any other month                2,500 contracts All months combined          3,500 contracts Futures & options have a combined limit in futures equivalents.    Contact the Exchange for more information. Basis Grade Quality:            Strict Low Middling Staple Length:  1 2/32nd inch Point Value: $5.00 Delivery Points Galveston, TX; Houston, TX; New Orleans, LA;.  Memphis, TN; Greenville/Spartanburg, S.C

Trading Unit One New York Cotton Exchange Cotton No. 2 futures contract. Trading Hours See cotton futures Price Quotation Prices quoted in cents and hundredths of a cent. Trading Months Mar, May, Juy, Oct & Decr.  The nearest ten delivery months will be available for trading. Example:  In Aug 1999, the Oct 1999, Dec 1999, Mar 2000, May 2000, July 2000, Oct2000, Dec 2000, Mar 2001, May 2001 & Jul 2001 contracts will be available for trading. Ticker Symbol CT Minimum Fluctuation Prices quoted in cents and hundredths of a cent. Last Trading Day The last Friday which precedes first notice day for the underlying future by at least five business days. Expiration Date/Time Until 5 p.m.(NY time) on any trading day including last trading day. Automatic exercise at one tick or more in-the-money at expiration on last trading day. Daily Price Limits: None Strike Price Increments: 1 cent increments Minimum Price Fluctuation: 1/100 of a cent. Point Value: $5.00 Position Limits:

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