ICE Cocoa

The ICE Cocoa contract is the world benchmark contract for the global cocoa market. The contract prices physical delivery of exchange-grade product from a variety of African, Asian and Central and South American origins in any of five US delivery ports. 
 
== Uses ==
Cocoa seeds are processed into cocoa powder for use mainly to make chocolate and cocoa butter. Cocoa pulp can be eaten fresh or made into cocoa juice. 
== Data Quotes ==
ICE offers data quotes on a subscription basis. 
Cocoa Futures 	Cocoa Futures 	Cocoa Futures 	Cocoa Futures
Trading Screen Product Name	Cocoa Futures 	Cocoa Futures 	Cocoa Futures
Trading Screen Hub Name 	NYCC 	NYCC 	NYCC
Contract Symbol 	CC 	CC 	CC
Contract Size 	10 metric tons 	10 metric tons 	10 metric tons
Price Quotation 	Dollars per metric tons 	Dollars per metric tons 	Dollars per metric tons
Contract Series 	March, May, July, September, December 	March, May, July, September, December 	March, May, July, September, December
Minimum Price Fluctuation 	$1.00/metric ton, equivalent to $10.00 per contract. 	$1.00/metric ton, equivalent to $10.00 per contract. 	$1.00/metric ton, equivalent to $10.00 per contract.
Settlement 	Physical Delivery 	Physical Delivery 	Physical Delivery
Daily Price Limit 	None 	None 	None
Deliverable Origins 	The Growth of any country is deliverable, and Growths are divided into three delivery Groups:
Group A (deliverable at a premium of $160/ton) includes the Growths of Ghana, Ivory Coast, Nigeria, Sierra Leone and Togo.
Group B (deliverable at a premium of $80/ton) includes the Growths of Arriba (Ecuador), Cameroon, Colombia, New Guinea, Venezuela and several other Growths.
Group C (deliverable at par) includes the Growths of Bolivia, Haiti, Indonesia-Sulawesi, Malaysia and all other Growths not specified in the contract Rules as being in Groups A, B or C.	The Growth of any country is deliverable, and Growths are divided into three delivery Groups:
Group A (deliverable at a premium of $160/ton) includes the Growths of Ghana, Ivory Coast, Nigeria, Sierra Leone and Togo.
Group B (deliverable at a premium of $80/ton) includes the Growths of Arriba (Ecuador), Cameroon, Colombia, New Guinea, Venezuela and several other Growths.
Group C (deliverable at par) includes the Growths of Bolivia, Haiti, Indonesia-Sulawesi, Malaysia and all other Growths not specified in the contract Rules as being in Groups A, B or C.	The Growth of any country is deliverable, and Growths are divided into three delivery Groups:
Group A (deliverable at a premium of $160/ton) includes the Growths of Ghana, Ivory Coast, Nigeria, Sierra Leone and Togo.
Group B (deliverable at a premium of $80/ton) includes the Growths of Arriba (Ecuador), Cameroon, Colombia, New Guinea, Venezuela and several other Growths.
Group C (deliverable at par) includes the Growths of Bolivia, Haiti, Indonesia-Sulawesi, Malaysia and all other Growths not specified in the contract Rules as being in Groups A, B or C.
Delivery Locations 	At licensed warehouses in the Port of New York District, Delaware River Port District, Port of Hampton Roads, Port of Albany or Port of Baltimore. 	At licensed warehouses in the Port of New York District, Delaware River Port District, Port of Hampton Roads, Port of Albany or Port of Baltimore. 	At licensed warehouses in the Port of New York District, Delaware River Port District, Port of Hampton Roads, Port of Albany or Port of Baltimore.
First Notice Day 	Ten business days prior to first business day of delivery month. 	Ten business days prior to first business day of delivery month. 	Ten business days prior to first business day of delivery month.
Last Trading Day 	One business day prior to last notice day. 	One business day prior to last notice day. 	One business day prior to last notice day.
Last Notice Day 	Ten business days prior to last business day of delivery month 	Ten business days prior to last business day of delivery month 	Ten business days prior to last business day of delivery month
Position Limit 	Position Limit and Position Accountability information for all IFUS products can be found here. 	Position Limit and Position Accountability information for all IFUS products can be found here. 	Position Limit and Position Accountability information for all IFUS products can be found here.
Markers 	TAS (Trade at Settlement) 	TAS (Trade at Settlement) 	TAS (Trade at Settlement)
MIC Code 	IFUS 	IFUS 	IFUS
Clearing Venues 	ICUS 	ICUS 	ICUS
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	4:45 AM - 1:30 PM
04:45 - 13:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:45 AM - 6:30 PM
09:45 - 18:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:45 PM - 2:30 AM
17:45 - 02:30 	9:00 AM
09:00
Trading Hours 	**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.	**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.	**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 	Cocoa 	Cocoa
Codes 	Physical 	CC 	CC
Codes 	Logical 	CC 	CC
Codes 	GMI (FC) 	CY 	CY
Codes 	ION A.C.N. 	2050 	2050
Cocoa Options 	Cocoa Options 	Cocoa Options 	Cocoa Options
Trading Screen Product Name 	Cocoa Futures 	Cocoa Futures 	Cocoa Futures
Trading Screen Hub Name 	NYCC 	NYCC 	NYCC
Contract Symbol 	CC 	CC 	CC
Contract Size 	One Cocoa CC futures contract (10 metric tons) 	One Cocoa CC futures contract (10 metric tons) 	One Cocoa CC futures contract (10 metric tons)
Price Quotation 	Dollars per metric ton 	Dollars per metric ton 	Dollars per metric ton
Contract Series 	Regular Options: March, May, July, September and December
Serial Options: January, February, April, June, August, October and November. For a serial option, the underlying future is the next Regular futures contract month	Regular Options: March, May, July, September and December
Serial Options: January, February, April, June, August, October and November. For a serial option, the underlying future is the next Regular futures contract month	Regular Options: March, May, July, September and December
Serial Options: January, February, April, June, August, October and November. For a serial option, the underlying future is the next Regular futures contract month
Minimum Price Fluctuation 	$1.00/metric ton, equivalent to $10.00 per contract. 	$1.00/metric ton, equivalent to $10.00 per contract. 	$1.00/metric ton, equivalent to $10.00 per contract.
Daily Price Limit 	None 	None 	None
Strike Price Intervals 	Strike increment is $50 per ton. 	Strike increment is $50 per ton. 	Strike increment is $50 per ton.
First Trading Day (Regular Options)	Business day following the business day on which the underlying future is listed for trading. 	Business day following the business day on which the underlying future is listed for trading. 	Business day following the business day on which the underlying future is listed for trading.
First Trading Day (Serial Options) 	First business day of the third calendar month preceding the serial option month. 	First business day of the third calendar month preceding the serial option month. 	First business day of the third calendar month preceding the serial option month.
Last Trading Day 	First Friday of the month preceding the contract month. 	First Friday of the month preceding the contract month. 	First Friday of the month preceding the contract month.
Expiration Date 	17:00 Eastern time on the last trading day. Automatic exercise at one tick or morein-the-money at expiration on last trading day.	17:00 Eastern time on the last trading day. Automatic exercise at one tick or morein-the-money at expiration on last trading day.	17:00 Eastern time on the last trading day. Automatic exercise at one tick or morein-the-money at expiration on last trading day.
Position Limit 	Position Limit and Position Accountability information for all IFUS products can be found here. 	Position Limit and Position Accountability information for all IFUS products can be found here. 	Position Limit and Position Accountability information for all IFUS products can be found here.
MIC Code 	IFUS 	IFUS 	IFUS
Clearing Venues 	ICUS 	ICUS 	ICUS
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	4:45 AM - 1:30 PM
04:45 - 13:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:45 AM - 6:30 PM
09:45 - 18:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:45 PM - 2:30 AM
17:45 - 02:30 	9:00 AM
09:00
Trading Hours 	*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.	*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.	*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 	Cocoa
Codes 	Physical 	CC 	CC
Codes 	Logical 	CC 	CC
Codes 	GMI (FC) 	CY 	CY
Codes 	ION A.C.N. 	2050 	2050
Cocoa 1-month Calendar Spread Options	Cocoa 1-month Calendar Spread Options 	Cocoa 1-month Calendar Spread Options 	Cocoa 1-month Calendar Spread Options
Trading Screen Product Name 	Cocoa 1-Month CSO 	Cocoa 1-Month CSO 	Cocoa 1-Month CSO
Trading Screen Hub Name 	NYCC 	NYCC 	NYCC
Contract Symbol 	CC1 (1 Month Series)
Determining the two futures months in an CSO pair requires knowing both the Contract Symbol and the Month Symbol. CSO contract symbols are three characters long, with the first two characters denoting the futures contract for the pair and the third digit signifying how to identify the second month in the pair, which must be implied using the Month Symbol for the CSO contract. For example, the Contract Symbol “CC1” indicates the underlying contract is Cocoa, and that the second month in the spread pair is ONE month forward from the front month of the pair. If the Month Symbol for an CSO contract is K10 (or May 2010), the Contract Symbol “CC1” implies that the second month in the pair is N10 (or July 2010) – one contract month forward from the K10; the Contract Symbol “CC2” would imply that the second month in the pair is U10 (or Sep 2010) – two contract months forward from the K10.	CC1 (1 Month Series)
Determining the two futures months in an CSO pair requires knowing both the Contract Symbol and the Month Symbol. CSO contract symbols are three characters long, with the first two characters denoting the futures contract for the pair and the third digit signifying how to identify the second month in the pair, which must be implied using the Month Symbol for the CSO contract. For example, the Contract Symbol “CC1” indicates the underlying contract is Cocoa, and that the second month in the spread pair is ONE month forward from the front month of the pair. If the Month Symbol for an CSO contract is K10 (or May 2010), the Contract Symbol “CC1” implies that the second month in the pair is N10 (or July 2010) – one contract month forward from the K10; the Contract Symbol “CC2” would imply that the second month in the pair is U10 (or Sep 2010) – two contract months forward from the K10.	CC1 (1 Month Series)
Determining the two futures months in an CSO pair requires knowing both the Contract Symbol and the Month Symbol. CSO contract symbols are three characters long, with the first two characters denoting the futures contract for the pair and the third digit signifying how to identify the second month in the pair, which must be implied using the Month Symbol for the CSO contract. For example, the Contract Symbol “CC1” indicates the underlying contract is Cocoa, and that the second month in the spread pair is ONE month forward from the front month of the pair. If the Month Symbol for an CSO contract is K10 (or May 2010), the Contract Symbol “CC1” implies that the second month in the pair is N10 (or July 2010) – one contract month forward from the K10; the Contract Symbol “CC2” would imply that the second month in the pair is U10 (or Sep 2010) – two contract months forward from the K10.
Contract Size 	A spread position between the two futures contract months. 	A spread position between the two futures contract months. 	A spread position between the two futures contract months.
Price Quotation 	Dollars per metric ton 	Dollars per metric ton 	Dollars per metric ton
Contract Series 	March, May, July, September and December.
1 Month Series: each of the first four listed futures months paired with consecutive listed months 	March, May, July, September and December.
1 Month Series: each of the first four listed futures months paired with consecutive listed months 	March, May, July, September and December.
1 Month Series: each of the first four listed futures months paired with consecutive listed months
Minimum Price Fluctuation 	$1.00/metric ton 	$1.00/metric ton 	$1.00/metric ton
Daily Price Limit 	None 	None 	None
Strike Price Intervals 	10 point increments. ($10 per metric ton) 	10 point increments. ($10 per metric ton) 	10 point increments. ($10 per metric ton)
First Trading Day 	See Cocoa Rule No. 9.62 for details. 	See Cocoa Rule No. 9.62 for details. 	See Cocoa Rule No. 9.62 for details.
Last Trading Day 	Each CSO contract expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2011 future is the front month of the pair will expire on the ltd of the March 2011 regular option. 	Each CSO contract expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2011 future is the front month of the pair will expire on the ltd of the March 2011 regular option. 	Each CSO contract expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2011 future is the front month of the pair will expire on the ltd of the March 2011 regular option.
Call Option 	Buyer of an CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Put Option 	Buyer of an CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Strike Price 	The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).	The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).	The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).
MIC Code 	IFUS 	IFUS 	IFUS
Clearing Venues 	None 	None 	None
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	4:45 AM - 1:30 PM
04:45 - 13:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:45 AM - 6:30 PM
09:45 - 18:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:45 PM - 2:30 AM
17:45 - 02:30 	9:00 AM
09:00
Codes 	Clearing Admin Name 	O-Cocoa 	O-Cocoa
Codes 	Physical 	CC1 	CC1
Codes 	Logical 	CC1 	CC1
Codes 	GMI (FC) 	C1 	C1
Codes 	ION A.C.N. 	None 	None
Cocoa 2-month Calendar Spread Options	Cocoa 2-month Calendar Spread Options 	Cocoa 2-month Calendar Spread Options 	Cocoa 2-month Calendar Spread Options
Trading Screen Product Name 	Cocoa 2-Month CSO 	Cocoa 2-Month CSO 	Cocoa 2-Month CSO
Trading Screen Hub Name 	NYCC 	NYCC 	NYCC
Contract Symbol 	CC2 (2 Month Series)
Determining the two futures months in an CSO pair requires knowing both the Contract Symbol and the Month Symbol. CSO contract symbols are three characters long, with the first two characters denoting the futures contract for the pair and the third digit signifying how to identify the second month in the pair, which must be implied using the Month Symbol for the CSO contract. For example, the Contract Symbol “CC1” indicates the underlying contract is Cocoa, and that the second month in the spread pair is ONE month forward from the front month of the pair. If the Month Symbol for an CSO contract is K10 (or May 2010), the Contract Symbol “CC1” implies that the second month in the pair is N10 (or July 2010) – one contract month forward from the K10; the Contract Symbol “CC2” would imply that the second month in the pair is U10 (or Sep 2010) – two contract months forward from the K10.	CC2 (2 Month Series)
Determining the two futures months in an CSO pair requires knowing both the Contract Symbol and the Month Symbol. CSO contract symbols are three characters long, with the first two characters denoting the futures contract for the pair and the third digit signifying how to identify the second month in the pair, which must be implied using the Month Symbol for the CSO contract. For example, the Contract Symbol “CC1” indicates the underlying contract is Cocoa, and that the second month in the spread pair is ONE month forward from the front month of the pair. If the Month Symbol for an CSO contract is K10 (or May 2010), the Contract Symbol “CC1” implies that the second month in the pair is N10 (or July 2010) – one contract month forward from the K10; the Contract Symbol “CC2” would imply that the second month in the pair is U10 (or Sep 2010) – two contract months forward from the K10.	CC2 (2 Month Series)
Determining the two futures months in an CSO pair requires knowing both the Contract Symbol and the Month Symbol. CSO contract symbols are three characters long, with the first two characters denoting the futures contract for the pair and the third digit signifying how to identify the second month in the pair, which must be implied using the Month Symbol for the CSO contract. For example, the Contract Symbol “CC1” indicates the underlying contract is Cocoa, and that the second month in the spread pair is ONE month forward from the front month of the pair. If the Month Symbol for an CSO contract is K10 (or May 2010), the Contract Symbol “CC1” implies that the second month in the pair is N10 (or July 2010) – one contract month forward from the K10; the Contract Symbol “CC2” would imply that the second month in the pair is U10 (or Sep 2010) – two contract months forward from the K10.
Contract Size 	A spread position between the two futures contract months. 	A spread position between the two futures contract months. 	A spread position between the two futures contract months.
Price Quotation 	Dollars per metric ton 	Dollars per metric ton 	Dollars per metric ton
Contract Series 	March, May, July, September and December.
2 Month Series: each of the first three listed futures months paired with the 2nd listed month forward from that month. 	March, May, July, September and December.
2 Month Series: each of the first three listed futures months paired with the 2nd listed month forward from that month. 	March, May, July, September and December.
2 Month Series: each of the first three listed futures months paired with the 2nd listed month forward from that month.
Minimum Price Fluctuation 	$1.00/metric ton 	$1.00/metric ton 	$1.00/metric ton
Daily Price Limit 	None 	None 	None
Strike Price Intervals 	10 point increments. ($10 per metric ton) 	10 point increments. ($10 per metric ton) 	10 point increments. ($10 per metric ton)
First Trading Day 	See Cocoa Rule No. 9.62 for details. 	See Cocoa Rule No. 9.62 for details. 	See Cocoa Rule No. 9.62 for details.
Last Trading Day 	Each CSO contract expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2011 future is the front month of the pair will expire on the ltd of the March 2011 regular option. 	Each CSO contract expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2011 future is the front month of the pair will expire on the ltd of the March 2011 regular option. 	Each CSO contract expires on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2011 future is the front month of the pair will expire on the ltd of the March 2011 regular option.
Call Option 	Buyer of an CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Put Option 	Buyer of an CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract. 	Buyer of an CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Strike Price 	The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).	The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).	The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).
MIC Code 	IFUS 	IFUS 	IFUS
Clearing Venues 	None 	None 	None
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	4:45 AM - 1:30 PM
04:45 - 13:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:45 AM - 6:30 PM
09:45 - 18:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:45 PM - 2:30 AM
17:45 - 02:30 	9:00 AM
09:00
Codes 	Clearing Admin Name 	Cocoa 	Cocoa
Codes 	Physical 	CC2 	CC2
Codes 	Logical 	CC2 	CC2
Codes 	GMI (FC) 	C2 	C2
Codes 	ION A.C.N. 	None 	None
== Resources ==
*ICE Cocoa Brochure
*ICE Cocoa Product Specs
*ICE Cocoa 1-Month Calendar Spread Product Spec
*ICE Cocoa 2-Month Calendar Spread Product Spec
== References ==
Category:Cocoa Futures Contracts
Category:Futures Contracts Traded on ICE
Category:Agricultural Futures Contracts
Category:Futures Data in Template