CME and ICE launched rival cocoa contracts on March 30
CME Group has traded more than triple the
number of contracts of its rival the Intercontinental Exchange
in its new Euro-denominated cocoa contract since launching
three weeks ago.
The Merc said Tuesday that in the 14 days
since launch on March 30, total volume in its new Euro cocoa
offering is 1,562 contracts, in comparison to Atlanta-based
rival ICE which has traded 463 contracts in its new Euro cocoa
There have been 14 days of trading since
the launch three weeks ago due to two UK bank holidays.
The world's top futures markets the
Intercontinental Exchange and CME Group's CME Europe launched
rival Euro-denominated cocoa contracts on March 30.
An ICE spokesperson told FOW Tuesday: "We
continue to be committed to work with the market to ensure that
firms with bona fide hedges can migrate their physical and
financial transactions to the euro currency if they choose,
with minimal impact to their broader business.
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