Change of splitting rules for screen traded dry contracts

As the trading pattern in the Dry Cargo FFA market has changed from being mainly a hedging market to be more small lots traded, and with the entry of the financial players, Imarex have seen the need to change the way the Dry T/C basket contracts are traded on screen.

Imarex and NOS are changing the way the number of lots traded on screen in a Quarter, Half Year or Year Contract in any of the Dry T/C basket routes, are split into Months. All Quarter, Half Year and Year contracts in PM4TC, CS4TC, SM6TC and HS6TC will from 1st April 2008 be split equally into the Months and settled as Month contracts. Please see NOS News 2008 - 7 for more information.