| Futures
Contract on Coffee "C" |
|
Calls for delivery of washed arabica
coffee produced in several Central and South American, Asian
and African countries.
|
|
Contract specifications are current as
of January 17, 2003 and
may be subject to change, verify information with your
broker.
|
|
Trading Unit
37,500 lbs. (approximately 250 bags)
Trading Hours
9:00 a.m. - 11:45 a.m.; NY Time.
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 |
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).
|
Option Contract on Coffee "C" Futures
|
|
Confers to buyer the right to buy (in the case
of a call) or sell (in the case of a put) one coffee "C"
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 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 New York 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 |
March |
| Feb |
March |
| Mar |
March |
| Apr |
May |
| May |
May |
| Jun |
July |
| Jul |
July |
| Aug |
September |
| Sep |
September |
| Oct |
December |
| November |
December |
| Dec |
December |
Strike Price Increments
| Futures Contract Price |
All months |
| Less than $1.00 |
$.025 |
| Less than $2.00 |
$.05 |
| $2.00 or more |
$.10 |
|
