Description

Contract calls for physical delivery of cotton of certain minimum standards of basis grade and staple length.

Market Specifications

Trading Screen Product Name

Cotton No. 2 Futures

Trading Screen Hub Name

NYCC

Contract Symbol

CT

Contract Size

50,000 pounds net weight

Quotation

Cents and hundredths of a cent per pound

Contract Months

March, May, July, October, December

Minimum Price Movement

1/100 of a cent (one "point") per pound equivalent to $5.00 per contract.

Settlement

Physical Delivery

Daily Price Limit

Futures contracts are subject to a daily price limit that can range from 3 to 7 cents per pound. Please consult Rule 10.09 for details (Click here for Cotton Rules.pdf)

Deliverable Origins

US Origin only.

Delivery Points

Galveston, TX, Houston, TX, Dallas/Ft. Worth, TX, Memphis, TN and Greenville/Spartanburg, SC.

Basis Grade

Quality : Strict Low Middling Staple Length: 1 2/32nd inc

First Notice Day

Five business days before the first delivery day of the spot contract month, which is the first business day of that month.

Last Trading Day

Seventeen business days from end of spot month.

Last Notice Day

Twelve business days from end of spot month.

Position Limits

Position Limit and Position Accountability information for all IFUS products can be found here.

MIC Code

IFUS

Clearing Venues

ICUS