ICE White Sugar

The White Sugar futures contract is used as the global benchmark for the pricing of physical white sugar. It is actively traded by the international sugar trade, sugar millers, refiners, and end-users (manufacturers) as well as by managed funds and both institutional and short-term investors.
There are no major public companies producing or selling sugar, it is largely a private trading sector. Imperial Sugar was the last major pure-play global public company operating in sugar before it was purchased and made private by Louis Dreyfus in 2012 for $78 million. 
White Sugar Future 	White Sugar Future 	White Sugar Future 	White Sugar Future
Trading Screen Product Name	White Sugar Future 	White Sugar Future 	White Sugar Future
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	W 	W 	W
Contract Size 	Fifty Tonnes 	Fifty Tonnes 	Fifty Tonnes
Price Quotation 	Dollars and cents per metric tonne 	Dollars and cents per metric tonne 	Dollars and cents per metric tonne
Contract Series 	March, May, August, October, December, such that eight delivery months are available for trading 	March, May, August, October, December, such that eight delivery months are available for trading 	March, May, August, October, December, such that eight delivery months are available for trading
Minimum Price Fluctuation 	10 cents per tonne ($5) 	10 cents per tonne ($5) 	10 cents per tonne ($5)
Settlement 	Physical Delivery 	Physical Delivery 	Physical Delivery
Delivery Locations 	FOB and stowed in vessel’s hold in a designated port in one of the following countries of origin: Algeria, Argentina, Australia, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Egypt, France, Germany, Guatemala, India, Italy, Korea, Malaysia, Mauritius, Mexico, Morocco, Mozambique, The Netherlands, Pakistan, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sudan, Thailand, Turkey, U.A.E., Ukraine, U.K. and U.S.A.	FOB and stowed in vessel’s hold in a designated port in one of the following countries of origin: Algeria, Argentina, Australia, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Egypt, France, Germany, Guatemala, India, Italy, Korea, Malaysia, Mauritius, Mexico, Morocco, Mozambique, The Netherlands, Pakistan, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sudan, Thailand, Turkey, U.A.E., Ukraine, U.K. and U.S.A.	FOB and stowed in vessel’s hold in a designated port in one of the following countries of origin: Algeria, Argentina, Australia, Belgium, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Egypt, France, Germany, Guatemala, India, Italy, Korea, Malaysia, Mauritius, Mexico, Morocco, Mozambique, The Netherlands, Pakistan, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, Spain, Sudan, Thailand, Turkey, U.A.E., Ukraine, U.K. and U.S.A.
Grade/Standards/Quality 	White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery, free running of regular grain size and fair average of the quality of deliveries made from the declared origin from such crop, with minimum polarisation 99.8 degrees, moisture maximum 0.06% and colour of a maximum 45 units ICUMSA attenuation index, all at time of delivery to vessel at the port. 	White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery, free running of regular grain size and fair average of the quality of deliveries made from the declared origin from such crop, with minimum polarisation 99.8 degrees, moisture maximum 0.06% and colour of a maximum 45 units ICUMSA attenuation index, all at time of delivery to vessel at the port. 	White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery, free running of regular grain size and fair average of the quality of deliveries made from the declared origin from such crop, with minimum polarisation 99.8 degrees, moisture maximum 0.06% and colour of a maximum 45 units ICUMSA attenuation index, all at time of delivery to vessel at the port.
Daily Price Limit 	None 	None 	None
Deliverable Origins 	White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery. 	White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery. 	White beet, cane crystal sugar or refined sugar of the crop current at the time of delivery.
First Notice Day 	Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month. 	Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month. 	Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month.
Last Trading Day 	Sixteen calendar days preceding the first day of the delivery month at 17:55 (if not a business day then the first business day immediately preceding) 	Sixteen calendar days preceding the first day of the delivery month at 17:55 (if not a business day then the first business day immediately preceding) 	Sixteen calendar days preceding the first day of the delivery month at 17:55 (if not a business day then the first business day immediately preceding)
Last Notice Day 	Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month. 	Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month. 	Fifteen calendar days preceding the first day of the delivery period (if not a business day then the first business day following). Delivery period is the specified delivery month and the following delivery month.
Delivery Limits 	Delivery limits for IFEU Softs can be found here. 	Delivery limits for IFEU Softs can be found here. 	Delivery limits for IFEU Softs can be found here.
Markers 	TAS (Trade at Settlement) 	TAS (Trade at Settlement) 	TAS (Trade at Settlement)
MIC Code 	IFLX 	IFLX 	IFLX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	3:45 AM - 1:00 PM
03:45 - 13:00 	8:00 PM
20:00
Trading Hours 	LONDON 	8:45 AM - 6:00 PM
08:45 - 18:00 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	4:45 PM - 2:00 AM
16:45 - 02:00 	9:00 AM
09:00
Codes 	Clearing Admin Name 	White Sugar 	White Sugar
Codes 	Physical 	W 	W
Codes 	Logical 	W 	W
Codes 	GMI (FC) 	LU 	LU
Codes 	ION A.C.N. 	None 	None
White Sugar Options 	White Sugar Options 	White Sugar Options 	White Sugar Options
Trading Screen Product Name	White Sugar Future 	White Sugar Future 	White Sugar Future
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	W 	W 	W
Contract Size 	One White Sugar futures contract 	One White Sugar futures contract 	One White Sugar futures contract
Price Quotation 	$ and cents per tonne 	$ and cents per tonne 	$ and cents per tonne
Contract Series 	March, May, August, October, December, such that eight expiry months are available for trading, subject to the option expiring before the underlying future.	March, May, August, October, December, such that eight expiry months are available for trading, subject to the option expiring before the underlying future.	March, May, August, October, December, such that eight expiry months are available for trading, subject to the option expiring before the underlying future.
Minimum Price Fluctuation 	5 cents per tonne ($2.50) 	5 cents per tonne ($2.50) 	5 cents per tonne ($2.50)
Exercise 	American style 	American style 	American style
Daily Price Limit 	None 	None 	None
Strike Price Intervals 	$10 per tonne 	$10 per tonne 	$10 per tonne
Expiration Date 	18:00 on the first business day of the calendar month preceding the expiry month. 	18:00 on the first business day of the calendar month preceding the expiry month. 	18:00 on the first business day of the calendar month preceding the expiry month.
MIC Code 	IFLX 	IFLX 	IFLX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	3:45 AM - 1:00 PM
03:45 - 13:00 	None
Trading Hours 	LONDON 	8:45 AM - 6:00 PM
08:45 - 18:00 	None
Trading Hours 	SINGAPORE 	4:45 PM - 2:00 AM
16:45 - 02:00 	None
Codes 	Clearing Admin Name 	White Sugar 	White Sugar
Codes 	Physical 	W 	W
Codes 	Logical 	W 	W
Codes 	GMI (FC) 	LU 	LU
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE White Sugar Product Spec
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