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NYBOT announces revision to Russell 1000 mini-sized contract

03
May '07
The New York Board of Trade (NYBOT) announced revisions to the NYBOT Russell 1000 mini-sized contract in preparation for listing on the electronic trading platform of IntercontinentalExchange.

Effective Wednesday, May 2, the September 2007, December 2007 and March 2008 Russell 1000 Mini futures contracts (“Russell Mini”, symbol RM) have been delisted, with a new contract size to be introduced in its place. No new mini contract months will be listed under the RM symbol. Thursday, June 14, 2007 will be the last day of trading for the current Russell Mini (symbol RM) contract.

NYBOT will replace the current Russell Mini futures contract, which has a multiplier of $50 times the Index, with a larger Russell 1000 Mini contract. The new Russell 1000 mini contract will have a $100 multiplier, doubling the current size of the contract.

The new contract will have symbol RF, and will follow the same quarterly calendar cycle of March, June, September and December contract months. The first contract, expiring in September 2007, will begin trading on the NYBOT floor on Friday, May 11, 2007.

Also effective, NYBOT has revised the computation process for volume and open interest totals for the Russell 1000 Index regular and mini futures contracts. Under the new procedures, separate volume and open interest figures will be calculated and published for each month of both the full-size and the mini futures contracts.

Under existing procedures, a single open interest figure has been calculated which aggregates the regular and mini open interest in the same contract month; this number has been published as the open interest for the respective mini contract month, and no information has been published for the full-size contract.

New York Board of Trade


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