No.2 US Cotton Futures
COTTON NO. 2 FUTURES CONTRACT
Contract Specifications
TRADING UNIT: 50,000 pounds net weight (approximately 100 bales).
TRADING HOURS: 10:30 a.m. - 2:40 p.m. (New York time).
TICKER SYMBOL: CT
TRADING MONTHS: Current month plus one or more of the next twenty-three succeeding months. Active trading months: March, May, July, October, December.
PRICE QUOTATION: Prices quoted in cents and hundredths of a cent per pound.
MINIMUM PRICE FLUCTUATION: 1/100 of a cent (one "point") per pound below 95 cents per pound. 5/100 of a cent (or five "points") per 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.
POINT VALUE: $5.00
DAILY LIMIT ON
PRICE MOVEMENT: 3 cents above or below previous day's settlement price. However, if any contract month 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.
DELIVERY:
First Notice Day: Five business days from end of month preceding spot month.
First Delivery Day: First business day of spot month.
Last Trading Day: Seventeen business days from end of spot month.
Last Notice Day: Five business days after last trading day.
Last Delivery Day: Five business days after last notice day.
DELIVERY POINTS: Galveston, TX; Houston, TX; New Orleans, LA; Memphis, TN; Greenville/Spartanburg, S.C.
Sources:
Bremen Cotton Exchange
Agricultural Marketing Service
REUTERS
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- India last edited on 2 November 2001 at 10:21 am by libnt37.gatech.edu