ICE U.S. Coffee "C" Arabica

From MarketsWiki
Revision as of 13:31, 13 January 2021 by OwenRehling (Talk | contribs)

Jump to: navigation, search
ICE wiki logo.jpg

ICE U.S. Coffee "C" Arabica futures is the world benchmark contract for Arabica coffee. The contract prices physical delivery of exchange-grade green beans from one of 19 countries of origin in a licensed warehouse in one of several ports in the U.S. and Europe, with stated premiums/discounts for ports and growths.

Uses

Dried Coffee "C" Arabica seeds "beans" are roasted, ground, and brewed to make coffee. The two most important species of coffee economically speaking are Coffea Arabica (Arabica coffee) - which accounts for over 70% of world production - and Coffea Canephora (Robusta coffee). Two other species which are grown on a much smaller scale are Coffea Liberica (Liberica coffee) and Coffea Dewevrei (Excelsa coffee).[1]

Data Quotes

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

Coffee C ® Arabica Futures
Trading Screen Product Name Coffee "C" Futures
Trading Screen Hub Name NYCC
Contract Symbol KC
Contract Size 37,500 pounds
Price Quotation Cents and hundredths of a cent up to two decimal places
Contract Series March, May, July, September, December
Minimum Price Fluctuation 5/100 cent/lb., equivalent to $18.75 per contract.
Settlement Physical Delivery
Grade/Standards/Quality A Notice of Certification is issued based on testing the grade of the beans and by cup testing for flavor. The Exchange uses certain coffees to establish the "basis". Coffees judged better are at a premium; those judged inferior are at a discount.
Daily Price Limit None
Deliverable Origins Mexico, Salvador, Guatemala, Costa Rica, Nicaragua, Kenya, Papua New Guinea, Panama, Tanzania, Uganda, Honduras, and Peru all at par, Colombia at 400 point premium, Burundi, Rwanda, Venezuela and India at 100 point discount, Dominican Republic and Ecuador at 400 point discount, and Brazil at 600 point discount.
Delivery Locations Exchange licensed warehouse in the Ports of New York District, Virginia, New Orleans, Houston, Miami, Bremen/Hamburg, Antwerp and Barcelona.

The New York and Virginia delivery points are par; the New Orleans, Miami and Houston delivery points are at a discount of 0.50 cents per pound; and the Bremen/Hamburg, Antwerp and Barcelona delivery points are at a discount of 1.25 cents per pound.

First Notice Day Seven business days prior to first business day of delivery month.
Last Trading Day One business day prior to last notice day
Last Notice Day Seven business days prior to the last business day of the 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 4:15 AM - 1:30 PM

04:15 - 13:30

8:00 PM

20:00

LONDON 9:15 AM - 6:30 PM

09:15 - 18:30

1:00 AM

01:00

SINGAPORE 5:15 PM - 2:30 AM

17:15 - 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 Coffee C
Physical KC
Logical KC
GMI (FC) 43
ION A.C.N. 2065
Coffee C ® Arabica Options
Trading Screen Product Name Coffee "C" Futures
Trading Screen Hub Name NYCC
Contract Symbol KC
Contract Size One Coffee C futures contract (37,500 pounds)
Price Quotation Cents and hundredths of a cent up to two decimal places
Contract Series Regular Options: March, May, July, September and December

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

Minimum Price Fluctuation 1/100 cent/lb, equivalent to $3.75 per contract
Exercise American style
Daily Price Limit None
Strike Price Intervals Strike increment is $0.025 cents per pound.
First Trading Day (Regular Options) Business day following the business day on which the underlying futures trade is listed.
First Trading Day (Serial Options) First business day of the third calendar month preceding the serial option month.
Last Trading Day Second Friday of the calendar month preceding such regular or serial option month; provided, however, that for each option, there will be a minimum of four trading days between the last trading day of the expiring option and the first notice day of the expiring future .
Expiration Date 17:00 Eastern time on the last trading day. Automatic exercise at one tick or more in-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

References

  1. Botanical Aspects. International Coffee Organization.
  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}}}.

Resources

ICE Coffee C ® Arabica Product Spec