London Cocoa Futures37089076

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

Symbol
C
Contract Size
Ten Tonnes
Price Quotation
£ per metric tonne
Contract Listing
March, May, July, September, December, such that ten delivery months are available for trading
Minimum Price Movement
£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 Points
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, Felixstowe, Hamburg, Humberside, Le Havre, Liverpool, London, Rotterdam or Teesside
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

Bulk Delivery Units are tenderable at a discount of £20 per tonne to the contract price.
Daily Price Limit
None
Deliverable Growths
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
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.
MIC Code
IFLX
Clearing Venue
ICEU

Trading Hours

CityTradingPre-Open
New York4:30 AM - 11:55 AM
04:30 - 11:55
8:00 PM
20:00
London9:30 AM - 4:55 PM
09:30 - 16:55
1:00 AM
01:00
Singapore4:30 PM - 11:55 PM
16:30 - 23:55
8:00 AM
08:00

NOTE: DST in the US will be different than BST time. See Circular 15030 and the associated attachment for temporary trading hours changes.

Codes

Clearing Admin Name
Cocoa UK
Physical
C
Logical
C
GMI (FC)
R&N A.C.N.