ICE Cocoa

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The ICE Cocoa contract is the world benchmark contract for the global cocoa market. The contract prices physical delivery of exchange-grade product from a variety of African, Asian and Central and South American origins in any of five US delivery ports.

Uses

Cocoa seeds are processed into cocoa powder for use mainly to make chocolate and cocoa butter. Cocoa pulp can be eaten fresh or made into cocoa juice.[1]

Data Quotes

ICE offers data quotes on a subscription basis.[2]

Cocoa Futures
Trading Screen Product Name Cocoa Futures
Trading Screen Hub Name NYCC
Contract Symbol CC
Contract Size 10 metric tons
Price Quotation Dollars per metric tons
Contract Series March, May, July, September, December
Minimum Price Fluctuation $1.00/metric ton, equivalent to $10.00 per contract.
Settlement Physical Delivery
Daily Price Limit None
Deliverable Origins The Growth of any country is deliverable, and Growths are divided into three delivery Groups:

Group A (deliverable at a premium of $160/ton) includes the Growths of Ghana, Ivory Coast, Nigeria, Sierra Leone and Togo.

Group B (deliverable at a premium of $80/ton) includes the Growths of Arriba (Ecuador), Cameroon, Colombia, New Guinea, Venezuela and several other Growths.

Group C (deliverable at par) includes the Growths of Bolivia, Haiti, Indonesia-Sulawesi, Malaysia and all other Growths not specified in the contract Rules as being in Groups A, B or C.

Delivery Locations At licensed warehouses in the Port of New York District, Delaware River Port District, Port of Hampton Roads, Port of Albany or Port of Baltimore.
First Notice Day Ten business days prior to first business day of delivery month.
Last Trading Day One business day prior to last notice day.
Last Notice Day Ten business days prior to last business day of delivery month
Position Limit Position Limit and Position Accountability information for all IFUS products can be found here.[3]
Markers TAS (Trade at Settlement)[4]
MIC Code IFUS
Clearing Venues ICUS
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 4:45 AM - 1:30 PM

04:45 - 13:30

8:00 PM

20:00

LONDON 9:45 AM - 6:30 PM

09:45 - 18:30

1:00 AM

01:00

SINGAPORE 5:45 PM - 2:30 AM

17:45 - 02:30

9:00 AM

09:00

**In addition to the Pre-Open start time shown above, there will be a Post-Close Pre-Open order entry session from 2:00 pm to 6:00 pm NY time on the prior Exchange business day.
Codes Clearing Admin Name Cocoa
Physical CC
Logical CC
GMI (FC) CY
ION A.C.N. 2050
Cocoa Options
Trading Screen Product Name Cocoa Futures
Trading Screen Hub Name NYCC
Contract Symbol CC
Contract Size One Cocoa CC futures contract (10 metric tons)
Price Quotation Dollars per metric ton
Contract Series Regular Options: March, May, July, September and December

Serial Options: January, February, April, June, August, October and November. For a serial option, the underlying future is the next Regular futures contract month

Minimum Price Fluctuation $1.00/metric ton, equivalent to $10.00 per contract.
Daily Price Limit None
Strike Price Intervals Strike increment is $50 per ton.
First Trading Day (Regular Options) Business day following the business day on which the underlying future is listed for trading.
First Trading Day (Serial Options) First business day of the third calendar month preceding the serial option month.
Last Trading Day First Friday of the month preceding the contract month.
Expiration Date 17:00 Eastern time on the last trading day. Automatic exercise at one tick or morein-the-money at expiration on last trading day.
Position Limit Position Limit and Position Accountability information for all IFUS products can be found here.[5]
MIC Code IFUS
Clearing Venues ICUS
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 4:45 AM - 1:30 PM

04:45 - 13:30

8:00 PM

20:00

LONDON 9:45 AM - 6:30 PM

09:45 - 18:30

1:00 AM

01:00

SINGAPORE 5:45 PM - 2:30 AM

17:45 - 02:30

9:00 AM

09:00

*Next Day

In addition to the Pre-Open start time shown above, there will be a Post-Close Pre-Open order entry session from 2:50 pm to 6:00 pm NY time on the prior Exchange business day.

Codes Clearing Admin Name Cocoa
Physical CC
Logical CC
GMI (FC) CY
ION A.C.N. 2050

Resources

References

  1. Use of Cocoa. ETAWAU.
  2. The most valuable commodity is information. ICE.
  3. Position Limit and Position Accountability Information. {{{org}}}.
  4. TAS. {{{org}}}.
  5. Position Limit and Position Accountability Information. {{{org}}}.