DELIVERY PROCEDURES: ROBUSTA COFFEE FUTURES FINANCIALS & SOFTS COFFEE – 10 TONNE Formatted: Font: (Default) Times New

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PART P: ROBUSTA COFFEE FUTURES FINANCIALS & SOFTS COFFEE CONTRACTS

1. DELIVERY SPECIFICATION

1.1 Quality 

Robusta Coffee shall be delivered of a growth and quality as specified in the LIFFE Rules or the ICE 

Futures Europe Rules, as applicable. 

1.2 Price 

The price at which the Robusta CoffeeCocoa is delivered is the Market Delivery Settlement Price on 

the Business Day immediately preceding the day of Tender, adjusted in accordance with the LIFFE 

Rules or the ICE Futures Europe Rules, as applicable. 

1.3 Scope 

Robusta Coffee shall be delivered from a nominated warehouse as defined in the LIFFE Rules or the 

ICE Futures Europe Rules, as applicable. 

1.4 Cessation of Trading 

Robusta Coffee delivery months cease trading on the last trading day, as specified in the Contract 

Terms, which unless specified otherwise in the Market Rules is at approximately 12:30 on the last 

Business Day of the delivery month. Sellers’ Tenders may be submitted by 12:00 on any Business Day 

during the Tender Period delivery month (excluding the last trading day when the Tender must be 

submitted by 14:30). 
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DELIVERY TIMETABLE FOR ROBUSTA COFFEE FUTURES FINANCIALS & SOFTS COFFEE 

10 TONNE CONTRACTS

TIME ACTION

Tender Day 

(excluding last 

Tender day)

Tender Day

By 12:00 All Clearing Members perform position maintenance.

Sellers who wish to tender input Delivery Notices via both UCP ECS 

(or any successor system) and Guardian (or any successor system).

On each Business Day during the Tender Period delivery month a 

Seller may input a delivery notification via UCP ECS (or any 

successor system). Clearing Members submitting a delivery 

notification to UCP ECS (or any successor system) must also submit 

via Guardian (or any successor system) the details of the lots to be 

tendered.

Tender notifications may be deleted by Clearing Members.

Submission of a delivery notification to UCP ECS (or any successor 

system) without the corresponding input to Guardian (or any 

successor system) (or vice versa) will not constitute valid notification 

of Tender to the Clearing House.

Clearing Members must ensure that all settlements and transfers 

are completed in UCP ECS/PTMS (or any successor system) by 

the 12:00 deadline.

First Allocation After 12:00 MPFE report available on UCP (or any successor system) informing 

Buyers of the number of lots allocated.

RobustaRobusta Coffee allocated to Buyers on a pro rata basis.

The following are made available to Buyers via Guardian (or any 

successor system):

- invoice report.

- delivery details.

The following are made available to Sellers via Guardian (or any 

successor system):

- account sale report.

- delivery details.

Cessation of 

Trading

Last Tender Day

At 12:30 The Robusta Coffee delivery month ceases trading.

By 14:30 All Clearing Members perform position maintenance. Remaining 

Open Contract Positions automatically become subject to delivery 

obligations.

Sellers submit delivery notices via Guardian (or any successor 

system).

Sellers holding Open Contract Positions must submit via Guardian (or 

any successor system) the details of the lots to be tendered.
DELIVERY PROCEDURES: ROBUSTA COFFEE FUTURES FINANCIALS & SOFTS COFFEE – 10 TONNE Formatted: Font: (Default) Times New

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TIME ACTION

Tender notifications may be deleted by Clearing Members.

Sellers are not required to give notification via UCP ECS (or any 

successor system).

Clearing Members must ensure that all assignments, settlements 

and transfers are completed in UCP ECS/ PTMS (or any 

successor system) by the 14:30 deadline. Clearing Members with 

Open Contract Positions in the expired delivery month are obliged to 

make or take delivery.

Second 

Allocation

After 14:30 The MPFE report is made available on UCP (or any successor system) 

informing Buyers of the final number of lots allocated.

Second allocation of c Robusta Coffee to Buyers on a pro rata basis.

The following are made available to Sellers via Guardian (or any

successor system):

- account sale report.

- delivery details.

The following are made available to Buyers via Guardian (or any 

successor system):

- invoice report.

- delivery details.

Early Take Up Business Day prior to Business Day on which the Buyer wishes to take up and pay for 

the warrants

By 16:00 A Buyer may take up warrants prior to the due Settlement Day, by 

inserting instructions via Guardian (or any successor system).

The early take up is then processed and an Early Take Up Invoice or 

Account Sale is made available to the Buyer and Seller respectively.

Payment Settlement Day 14 days (2 4 days) after the Tender Day (or the next Business Day in 

the case of a Bank Holiday or a day declared a non-Business Day by LIFFE or ICE 

Futures Europe, as applicable)

By 09:00 The Clearing House debits Buyers, as detailed on the Invoices

After 09:00 The Clearing House credits Sellers, as detailed on the Account Sales.

The Clearing House transfers the warrants to Buyers via Guardian (or 

any successor system).

1 With effect from delivery months July 2018 onwards this ‘Early Take Up’ 

section is deleted

2 With effect from delivery months July 2018 onwards this shall instead read 

‘4 days’

3 With effect from delivery months July 2018 onwards this title shall instead 

read “14 Business Days after Tender Day”

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TIME ACTION

Substitution of 

Tenders

714 Business Days after Tender Settlement Day

By 17:00 A Seller may substitute a Tender with the Buyer’s prior consent (or in 

the case of dispute, if ordered to do so by LIFFE or ICE Futures 

Europe, as applicable) via Guardian (or any successor system) and 

Guardian (or any successor system) will notify any changes in pricing 

resulting from the substitution. A Substitution Invoice or Account 

Sale is made available to the Buyer and Seller respectively.

If the Buyer does not consent to such a substitution, then the Seller 

remains obliged to make delivery in accordance with the original 

Tender. If the Seller fails to make delivery against the original Tender 

then the Seller will be in default in performance.

2. DELIVERY DOCUMENTATION SUMMARY 

Sellers and Buyers should ensure that relevant Delivery Documentation is completed in full, 

including standard details such as Clearing Member name, mnemonic, etc.

Name of Delivery Document Explanation Timing

Financials & Softs Coffee 

10 tonne: Buyer’s Invoice

Buyers are provided with Invoices via 

Guardian (or any successor system). 

Provisional Invoices are issued where a 

delivery unit is the subject of an instruction to 

convert.

Early Take Up, Substitution and Adjustment 

Invoices are identical to the original Invoices 

except the title reflects why they have been 

produced and the information that has changed.

By 16:00 on the 

day that is (i) 10 

Business Days 

prior to the last 

Business Day of 

the delivery 

month; (ii) First 

Business Day 

prior to the 

Conversion 

Settlement Day; 

(iii) First 

Business Day 

prior to the 

Extended 

Conversion 

Settlement Day.

Financials & Softs Coffee  10 

tonne: Seller’s Account Sales

Sellers are provided with Account Sales via

Guardian (or any successor system). 

Provisional Account Sales are issued where a 

delivery unit is the subject of an instruction to 

convert.

Early Take Up, Substitution and Adjustment 

Account Sales are identical to the original 

Account Sales except the title reflects why they 

have been produced and the information that 

has changed.

Financials & Softs Coffee – 10 

Tonne: Seller’s Delivery 

Notice

Sellers submit this notice via Guardian (or any 

successor system).

By 14:30 on the 

last tender 

day/last trading 

day.