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Trade Sugar #11 (World) Futures
Sugar Futures Contract
Specs
To trade Sugar futures,
open a futures
trading account.
Current as of January 8 , 2004 and may be subject to
change. Verify information with your broker.
| Sugar Futures Info: |
Sugar
Futures Charts, Quotes, Options |
| Trading Unit |
Trading Unit
112,000 lbs. (50 Long tons) |
| Trading Hours: |
9:00 am to 12:00 pm; closing period
commences at 11:58 am |
| Price Quotation |
Cents per pound |
| Delivery Months: |
March, May, July, October |
| Ticker Symbol: |
SB |
| Minimum Fluctuation: |
1/100 cent/lb., equivalent to $11.20
per contract. |
| Notice Day: |
1st business day after the last
trading day. |
| Last Trading Day: |
Last business day of the month
preceding delivery month. |
| Daily Limit on Price Movement: |
None |
| Position Limits: |
Accountability Spot Month - 5,000
contracts as of the 2nd business day following the
expiration of the regular option contract traded on
the expiring futures contract. Additionally,
Position Accountability rules apply to all futures
and options contract months. Contact the Exchange
for more information. |
These contract specifications are subject to change.
Option Contract on
Sugar #11 (World) Futures
Current as of January 8 , 2004
and may be subject to change. Verify information with your
broker.
Confer to buyer the right to buy (in the case of a call)
or sell (in the case of a put) one Sugar no. 11 futures
contract.
| Option Trading Cycles: |
Option Name |
Underlying Futures |
Expires 2nd Fri of |
| Serial
options 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. |
Jan |
March |
December |
| Feb |
March |
January |
| Mar |
March |
February |
| Apr |
May |
March |
| May |
May |
April |
| Jun |
July |
May |
| Jul |
July |
June |
| Aug |
October |
July |
| Sep |
October |
August |
| Oct |
October |
September |
| Nov |
March |
October |
| Dec |
March |
November |
Strike Price
Increments
| Futures Price on Two
Nearby Futures Month |
Increment |
| Less than 15 cents |
.5 cent: 50 pts |
| Between 15 & 40 cents |
1 cent: 100 pts |
| 40 cents & above |
2 cents: 200 pts |
| *Special allowances for for .5 cent strikes up to 20
cents. |
Contract specifications are current as of Sept 2,
2003 and may be subject to change. Verify information with
your broker.
| Trading Unit |
One sugar no. 11 futures contract |
| Trading Hours: |
See sugar futures |
| Price Quotation: |
Cents per pound |
| Contract Months: |
"Regular Options": Jan, Mar, May,
Jul & Oct. "Serial Options": Feb, Apr, Jun, Aug,
Sep, Nov & Dec |
| Ticker Symbol: |
SB |
| Minimum Fluctuation: |
1/100 cent/lb., equivalent to $11.20
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 month preceding
the contract month. |
| Expiration Date/Time |
9:00 PM New York Time on last
trading day. Notification of intention to exercise
must be made by an options holder to carrying member
firm by 3:00 PM that day.
|
| Daily Limit on Price Movement: |
None |
| Position Limits: |
See futures specifications |
Flexible Options on World Sugar Futures
Flexible sugar options will allow market participants to
customize certain contract terms. These contract terms
include:
(1) the strike price
(2) the expiration date
(3)
the exercise style (American or European) and
(4) the way
in which the strike price is specified.
Other contract
terms will be those of the applicable standard futures
options contract.
| Trading Unit |
Flexible sugar options will allow market participants to
customize certain contract terms. These contract terms
include: (1) the strike price
(2) the expiration date
(3)
the exercise style (American or European) and
(4) the way
in which the strike price is
specified.
Other contract terms will be those of the
applicable standard futures options contract.
|
| Trading Hours |
Trading hours are the same as regular sugar options,
commencing with the completion of the opening call, if
any.
|
| Expiration Date |
The expiration date of a flexible sugar option may be any
Exchange business day, provided, however, that each such
flexible sugar option shall not
have an expiration date later than two business days prior
to the last trading day of the flexible sugar option's
underlying futures contract. If the expiration date is not
a
business day, the expiration date shall be the first
business day preceding such date. |
| Daily Price Limits: |
None |
| Listing Procedure: |
To list a flexible option, a "Request
for Quote" (RFQ) for at least 25 contracts must be
submitted. RFQs may be for a single option or a
combination of up to four contracts. The response time
interval after an RFQ is posted and before the flexible
sugar options specified in the RFQ can be traded will be
five minutes. The Options Committee, however, from time to
time, may decide to change the duration of the response
time interval. |
| Tick Size: |
Ticks are 1 point or .01 cents on a per lb. basis. |
| Strike Prices: |
Strike prices should be specified in cents
and hundredths of a cent per pound, provided, however,
that at the time an RFQ is submitted, a flexible sugar
option may be specified, as the case may be, as
in-the-money or out-of-the money (in cents and hundredths
of a cent per pound), or at-the-money relative to the
underlying futures contract at the time the transaction
will be executed. |
| Exercise & Exercise Style: |
The requestor can select either
European or American-style exercise. European-style
options are exercised only on expiration day.
The buyer receives (delivers) by book transfer
the appropriate number of sugar futures contracts
from (to) the seller. American-style options are
exercisable on any Exchange business day until
expiration day. |
Contract specifications are current as of Sept. 2, 2003
and may be subject to change, verify information with your
broker.
For more information contact the New York Board of
Trade.
Other Futures Contract Specs
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