CBOT tweaks ethanol contract
September 1, 2006
The Chicago Board of Trade's (CBOT) board of directors announced several changes to its ethanol futures contract in late July. Daily price limits have increased from 15 to 30 cents per gallon, and settlement prices are now derived on e-cbot transactions rather than open auction. Open interest in CBOT's ethanol futures surpassed 1,000 contracts in late July and spiked slightly following the start of electronic trading in May.
Two revisions are taking place in September. The final trading day will be the third business day of the delivery month. Load-out procedures will require that regular shippers load out against certificates within 17 days of cancellation and that in-tank transfers be completed within 17 days of certificate cancellation. EP
Two revisions are taking place in September. The final trading day will be the third business day of the delivery month. Load-out procedures will require that regular shippers load out against certificates within 17 days of cancellation and that in-tank transfers be completed within 17 days of certificate cancellation. EP
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