NYBOT “Soft” Commodities Trade More than 12,000 Contracts the First Day
The first day of trading of the NYBOT products traded on ICE got off to a good start with over 12,000 contracts trading hands. Traders interested in the NYBOT soft commodity markets can execute trades through CQG’s order routing system. This is just one more example of where the trading industry is headed, and at the risk of coming across self-serving, it is nice to be able to analyze a market and execute right from the chart. Through CQG, traders will have direct access to trade execution and price discovery.
Here is the TFlow chart of March Sugar traded on ICE with the CQG ChartTrader and TFlow Volume study. I took this image on Sunday and the DOM ladder is inactive.
Here are some details on the NYBOT move to ICE. As of January 12, 2007, NYBOT became a wholly owned subsidiary of the IntercontinentalExchange (NYSE: ICE). On February 2, nearly around the clock (22-hours) electronic trading was offered in the physical contracts for the NYBOT agricultural products via the ICE electronic trading platform.
Contract specifications and commodity codes remain unchanged for both floor and electronically traded contracts. The open outcry contracts and the electronically traded contracts are fungible with one another. Now, traders will have two ways to trade the same contracts. Trades initiated in the pits can be liquidated on the electronic exchange, or vice versa.
The open outcry session trading hours remain unchanged.
The daily settlement price for both electronically traded and open outcry traded contracts will be the settlement price posted at the close of the contract’s open outcry trading session.
CQG will support market data and trading of these products with the following symbols:
CQG NYBOT Title
SBE SB Sugar #11
SEE SE Sugar #14
CTE CT Cotton #2
KCE KC Coffee “C”
CCE CC Cocoa
OJE OJ Frozen Concentrated Orange Juice (FCOJ-A)