COCOA FUTURES

Cocoa Futures

Cocoa Futures
Unit of trading

Ten tonnes

Delivery months

March, May, July, September, December, such that ten delivery months are available for trading

Delivery units

¹Standard Delivery Unit (SDU) – bagged cocoa with a nominal net weight of ten tonnes. Large Delivery Unit (LDU) – bagged cocoa with a nominal net weight of 100 tonnes. Bulk Delivery Unit (BDU) – loose cocoa with a nominal net weight of 1,000 tonnes²

Minimum price movement (tick size and value)

£1 per tonne (£10)

Last trading day

Eleven business days immediately prior to the last business day of the delivery month at 12:00

Last update
Fri, 03/26/2010
Trading Hours

09:30 - 16:50 London time

Trading platform

Universal Trading Platform (UTP)

Algorithm

Central Order Book applies a price-time trading algorithm, with priority given to the first order at the best price.

Wholesale service

Against Actuals, Exchange for Swaps

Clearing

ICE Clear Europe Limited

Notice day/Tender day

The business day immediately following the last trading day

Origins tenderable

Côte d’Ivoire, Democratic Republic of Congo (formerly known as Zaire), Equatorial Guinea, Ghana, Grenada Fine Estates, Jamaica, Nigeria, Republic of Cameroon, Republic of Sierra Leone, Togo, Trinidad and Tobago Plantation, Western Samoa at contract price. All other origins tenderable at set discounts

Price basis

Pounds sterling per tonne in an Exchange Nominated Warehouse in a delivery area which is, in the Board's opinion, in or sufficiently close to Amsterdam, Antwerp, Bremen, Felixstowe, Hamburg, Humberside, Le Havre, Liverpool, London, Rotterdam or Teesside ³

1 - Where necessary upon tender, a seller may be instructed by the Clearing Services Provider to convert a Bulk Delivery Unit into Large and/or Standard Delivery Units, or a Large Delivery Unit into Standard Delivery Units.
2 - Bulk Delivery Units are tenderable at a discount of £20 per tonne to the contract price.
3 - Please refer to http://globalderivatives.nyx.com/en/commodities/nyse-liffe/warehouses-grain-delivery to determine which Delivery Areas have Dual Capacity Warehousekeepers (i.e. those nominated for the storage of Bulk Delivery Units as well as Standard and Large Delivery Units).

NYSE Liffe market: London

Statement in relation to the Tender Process: Potential users of the Cocoa Futures Contract should familiarise themselves with the Contract Terms and Administrative Procedures and the Grading and Warehousekeeping Procedures in respect of Cocoa and Robusta Coffee Futures Contracts.  Potential users should also be aware of the fact that for the May 2010 delivery month onwards only Warrants that have been immobilised will be tenderable.


All times are London times.
Clearing - ICE Clear Europe Limited.