NEW YORK, Sept 22 (Bernama) -- Intercontinental
Exchange (NYSE: ICE), the leading global network of exchanges and
clearing houses, announced that ICE Futures U.S. will launch a World
Cotton contract on November 2, 2015. The World Cotton contract will
price delivery of multiple origins and allow delivery in multiple
locations around the world. The new contract will trade alongside ICE’s
benchmark Cotton No. 2® contract.
“The new contract is
based on extensive conversations with our customers about the need for a
broader price benchmark that reflects the global nature of today’s
cotton markets,” said ICE Futures U.S. President Benjamin Jackson. “We
have worked closely with cotton industry participants to design a
contract that complements our Cotton No. 2 contract and enhances the
ability for cotton growers and consumers to efficiently manage their
pricing risk.”
Key details of the World Cotton futures contract include:
http://mrem.bernama.com/viewsm.php?idm=25299
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