Cocoa Futures: Answering Industry Concerns

On January 27, 2015 CME Europe announced the launch of two cocoa futures contracts to be cleared in London. First a Euro-denominated cocoa futures contract with delivery in certain northern European ports and second, a cash-settled US Dollar denominated contract to be settled on the basis of the close of cocoa in New York. Trading in these contracts, which have been drafted in response to consultation with the international cocoa trade and industry, will begin at the end of March 2015.

In designing the Euro-denominated cocoa futures contract, CME Europe aimed to address the main causes of conflict in the cocoa market and so offer participants not only a choice of where to place their hedges but also a relevant and effective hedging and pricing mechanism.

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