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There are going to be some changes coming in the "softs" markets. Coffee, Sugar, Cocoa, Cotton, and Orange Juice futures are now trading ONLY electronically on the ICE exchange. Therefore, there will no longer be any 'open outcry' or 'pit' trading after February 1st, '08. As a result of these changes, all these markets are gong to have extended trading hours. IMPORTANT - ALL CURRENT STOP ORDERS WILL BE CANCELLED AT THE CLOSE OF BUSINESS 1 FEBRUARY '08 AND WILL NEED TO BE REPLACED – USING THE NEW PARAMETERS.
Additionally, all these markets are requiring a new method of placing your stop-loss orders (see below). This will not affect the option market or trading hours.
Coffee, Cocoa, Sugar and Cotton will now be open from 1:30am to 3:15pm EST
Orange Juice will now be open from 7:00am to 3:15pm EST
If you need to place an order when the markets are open but we are not, you can call our night desk. The night desk number is (866) 364-6333. If you call them, please remember to announce your account number as 515 and then your 5 digit account number. This lets them know your account is with Main Street Trading and not some other division of MFGlobal.
Straight stop loss orders will no longer be accepted on these markets. The ICE requires everyone use a stop limit (STL) or stop with limit (STWL) order instead. The limits must be placed within the "no bust" range which is listed below. Please call with any questions.
Market
Symbol (ICE)
Allowable Differential on STWL
Coffee
IKC
60
Sugar
ISB
10
Cocoa
ICC
15
Cotton
ICT
25
Orange Juice
IOJ
150
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This site has been published in the United States for residents of the United States. Nothing here is an offer or solicitation for the purchase and sale of commodity futures and options contracts, or any products or services to persons, other than U.S. residents. Futures and Options trading involves a substantial risk of loss and is not suitable for all investors. Please carefully consider your financial condition prior to making any investments.
