Coffee, Sugar and Cocoa Exchange

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Coffee, Sugar and Cocoa Exchange (now part of ICE Futures U.S.)
Headquarters New York
Key People Trabue Bland, President/COO
Products softs: coffee, sugar, cocoa
Website none

The New York Coffee, Sugar and Cocoa Exchange was a futures exchange that merged with the New York Cotton Exchange in 1998 and was acquired by the New York Board of Trade, which in turn was acquired by the Intercontinental Exchange and renamed ICE Futures U.S. in 2007.[1][2]

History

The Coffee, Sugar and Cocoa Exchange was founded in 1882 as the Coffee Exchange in the City of New York. Sugar futures were added in 1914, and on September 28, 1979, the New York Coffee and Sugar Exchange merged with the New York Cocoa Exchange (which in turn had been founded in 1925), to form CSCE.[3]

Headquartered in New York, in 1995 the CSCE threatened to move to New Jersey. The CSCE and the New York Cotton Exchange were eventually offered $91 million in subsidies to stay in New York.[4]

In 2004, the CSCE merged with the New York Cotton Exchange to form the New York Board of Trade ("NYBOT"). As a result of this merger, all of the previous exchanges and subsidiaries ceased to exist. Those exchanges included the Coffee, Sugar, & Cocoa Exchange, the New York Cotton Exchange, the Citrus Associates of the New York Cotton Exchange, the New York Futures Exchange (NYFE), and the FINEX Exchange.[5]

In 2012, ICE announced that the trading floors for coffee, sugar, cocoa, cotton and orange juice would be closed and the products would be exclusively electronically traded.[6]

Coffee, Sugar and Cocoa Exchange History

  • 1882 Coffee Exchange of the City of New York trades first coffee contracts
  • 1914 Coffee Exchange adds sugar futures
  • 1916 Coffee Exchange becomes the New York Coffee and Sugar Exchange
  • 1925 New York Cocoa Exchange begins trading cocoa futures
  • 1966 New York Cotton Exchange adds Frozen Concentrated Orange Juice (FCOJ) futures
  • 1979 New York Coffee and Sugar merges with New York Cocoa Exchange forming the Coffee, Sugar & Cocoa Exchange, Inc. (CSCE)
  • 1982 CSCE introduces options on sugar futures, first U.S. exchange-traded commodity option
  • 1984 NYCE introduces cotton options
  • 1985 NYCE adds FCOJ options
  • 1986 CSCE adds cocoa and coffee options
  • 1998 CSCE and NYCE form New York Board of Trade (Board of Trade of the City of New York, Inc.)
  • 2004 CSCE and NYCE become the New York Board of Trade® (NYBOT®)[7]

References

  1. Agriculutural Commodities. InterContinental Exchange.
  2. Savoring Gotham: A Food Lover's Companion to New York City. Google Books.
  3. Understanding the History of Commodities Markets and Futures Market. Universal Class.
  4. New York Makes Staying Put Irresistible to Coffee Exchange. New York Times.
  5. Coffee, Sugar & Cocoa Exchange (CS&CE). Nasdaq.
  6. ICE to close New York trading floor. Financial Times.
  7. New York Board of Trade. RJ O'Brien.