Citrus Associates of the New York Cotton Exchange Proposed FCOJ-A Futures and Options Contract and FCOJ-B Contract

Resumo

The Citrus Associates of the New York Cotton Exchange (CANYCE or Exchange) has requested that the Commission approve the subject proposed new FCOJ-A futures and options contracts and FCOJ-B futures contract. The proposals were submitted pursuant to Commission Regulations 40.3 and 40.5. The delivery provisions of the proposed FCOJ-A futures contract are the same as the existing FCOJ-2 futures contract, and the delivery provisions of the proposed FCOJ-B futures contract are the same as the existing FCOJ-1 futures contract. The FCOJ-A contract will trade outright, as the principal trading vehicle, and the FCOJ-B contract will trade as a differential to the FCOJ-A contract (currently, the FCOJ-1 contract trades outright and the FCOJ-2 contract trades as a differential to the FCOJ-1 contract). Both the FCOJ-A and FCOJ-B futures contracts will require delivery of 15,000 pounds of US Grade A orange solids with a Brix value of not less than 62.5 degrees, and a Brix to acid value ration of not less than 14 to 1 nor more than 19 to 1. Deliverable product must also have a minimum score of 94, with the minimums for the component factors fixed at 37 for color, 37 for flavor and 19 for defects.