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ICE Futures Europe

London Cocoa Futures

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Description

The London Cocoa futures contract has long been used as the global benchmark for the pricing of physical cocoa. It is actively traded by producers, exporters, trade houses, processors and chocolate manufacturers as well as by managed funds and both institutional and short‑term investors.

Market Specifications

Trading Screen Product Name
London Cocoa Future
Trading Screen Hub Name
ICEU
Contract Symbol
C
Contract Size
Ten Tonnes
Price Quotation
£ per metric tonne
Contract Series
March, May, July, September, December, such that ten delivery months are available for trading
Minimum Price Fluctuation
£1 per tonne (£10)
Settlement
Physical Delivery: Standard 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 tonnes
Delivery Locations
Delivered in an Exchange Nominated Warehouse in a delivery area which is, in the Board's opinion, in or sufficiently close to Amsterdam, Antwerp, Bremen, Hamburg, Liverpool, London, Rotterdam.
Grade/Standards/Quality
Standard 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 tonnes

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
Daily Price Limit
None
Deliverable Origins
All African origins are ORIGIN GROUP 1 (No discount)
All other origins are ORIGIN GROUP 2 (50 GBP discount)
First Notice Day
The business day immediately following the last trading day
Last Trading Day
Eleven business days immediately prior to the last business day of the delivery month at 12:00
Delivery Limits
Delivery limits for IFEU Softs can be found here.
Markers
TAS (Trade at Settlement)
MIC Code
IFLX
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York5:30 AM - 12:55 PM
05:30 - 12:55
9:00 PM
21:00
London9:30 AM - 4:55 PM
09:30 - 16:55
1:00 AM
01:00
Singapore5:30 PM - 12:55 AM
17:30 - 00:55
9:00 AM
09:00

Codes

Clearing Admin Name
Cocoa UK
Physical
C
Logical
CCO
GMI (FC)
LA
ION A.C.N.
Symbol Code
C