World Cotton Demand in the Future:

Issues on Competitiveness

The global financial crisis that began in 1997 caused world economic growth to decelerate from
above 4% in 1997 to 2.5% in 1998 and 3% in 1999. The crisis interrupted a four-year period of
rapid expansion of world end-use consumption of textiles. With cotton prices at higher levels than
prices of polyester, the major textile fiber that competes with cotton, cotton lost 1 percentage
point of the textile market during this two-year period and is estimated to now represent 41.9% of
the world market. As a result of the loss of both price and nonprice competitiveness, cotton lost 7
percentage points of the world textile market between 1990 and 1999. Current projections of fiber
prices, and current cotton competitiveness suggest that, on a worldwide basis, cotton’s market
share will reach 40% in 2005. During the 1990s, cotton lost market share in both industrial and
developing countries, as well as in Eastern Europe and the former USSR. Within industrial
countries, however, cotton gained market share in North America and in the Japan, Australia and
New Zealand group. Only in North America is cotton expected to continue to gain market share
over the next five years. Despite the expected loss of market share, world end-use cotton
consumption is expected to increase from 19.2 million tons in 1999 to 20.5 million tons in 2005.
World textile fiber consumption is expected to reach 51 million tons in 2005.

[Sigma Contract Specification]

Sigma Forex provide the clients with the lowest spreads in Forex Market for the most traded pairs and Forex spots.

Trading Hours
Sigma Dealing Room operate 24/5 from Sunday 23:00 CET until Friday 23.00 CET.
You Can contact us directly: + 41 435 004 145

Margin Requirements
The margin requirements must be respected by Friday at 23:00 GMT and before holidays.
One of our dealers will contact you if you are below your margin requirements at that time. Your margin requirements will depend on the client's account equity. However, if you approach the level where the loss of your open positions approaches the balance of your account, you will be stopped out and your positions will be closed. Stop positions will be executed when there is only around 50% equity of the required margin left in your account.

Streamline Dealing
Clients will not suffer Price Re-Quote that you can buy and sell directly on real-time prices without a request for quote (RFQ).
Clients taking advantage of wrong price quotes in the Market Watch will be requoted.
Sigma Forex effort is taken to ensure correct pricing at all times. However, there are rare circumstances when wrong prices are given.

Stop Order Execution
Volatile market conditions can result in prices gapping, which may prevent the execution of stop orders (sell stop, buy stop, stop loss) at the price you initially requested. However, our dealers strive to execute all stop orders at the price, or failing that, at the best attainable rate the market allows.

Lot Types
Sigma Forex has generated an ultimate account type that allow you to trade Standard, Mini and Micro lot in the same account which is Sigma Account to make it more simple and easy for traders.

Multi Currency Denomination

Sigma offers the ability to set-up accounts denominated in the following currencies:

• United States dollar (USD)
• Euro (EUR)
• Great Britain pound (GBP)
• Australian dollar (AUD)
• Swiss Frank (CHF)

There is no minimum deposit for opening an account, in order to review the spreads, pip value & margin requirement choose the required pair, leverage & the lot type.

If you have any problem regarding Sigma Contract Specification click on the Live Chat button on the right hand side and our customer support staff will help you through the process.