ICE Robusta Coffee Futures

The Robusta Coffee futures contract is used as the global benchmark for the pricing of physical Robusta Coffee. It is actively traded by producers, exporters, trade houses, importers and roasters as well as by managed funds and both institutional and short-term investors.
Robusta Coffee (coffea Canephora) usually produces a higher-yield crop and has a higher caffeine content than Arabica coffee. Robusta is also considered to have a lower quality taste than Arabica and trades at a lower price.
Robusta Coffee Futures 	Robusta Coffee Futures 	Robusta Coffee Futures 	Robusta Coffee Futures
Trading Screen Product Name	Robusta Coffee Future 	Robusta Coffee Future 	Robusta Coffee Future
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	RC 	RC 	RC
Contract Size 	Ten Tonnes 	Ten Tonnes 	Ten Tonnes
Price Quotation 	£ per metric tonne 	£ per metric tonne 	£ per metric tonne
Contract Series 	January, March, May, July, September, November, such that ten delivery months are available for trading 	January, March, May, July, September, November, such that ten delivery months are available for trading 	January, March, May, July, September, November, such that ten delivery months are available for trading
Minimum Price Fluctuation 	$1 per tonne ($10) 	$1 per tonne ($10) 	$1 per tonne ($10)
Settlement 	Physical Delivery 	Physical Delivery 	Physical Delivery
Delivery Locations 	Delivered in an Exchange Nominated Warehouse in Europe or the U.S.A. 	Delivered in an Exchange Nominated Warehouse in Europe or the U.S.A. 	Delivered in an Exchange Nominated Warehouse in Europe or the U.S.A.
Grade/Standards/Quality 	Class 1 Robusta Coffee deliverable at Contract price. Other qualities deliverable at set premiums and discounts.	Class 1 Robusta Coffee deliverable at Contract price. Other qualities deliverable at set premiums and discounts.	Class 1 Robusta Coffee deliverable at Contract price. Other qualities deliverable at set premiums and discounts.
Daily Price Limit 	None 	None 	None
Deliverable Origins 	Robusta Coffee from any Origin that is freely available for export to any destination 	Robusta Coffee from any Origin that is freely available for export to any destination 	Robusta Coffee from any Origin that is freely available for export to any destination
First Notice Day 	Fourth business day preceding the first business day of the delivery month. 	Fourth business day preceding the first business day of the delivery month. 	Fourth business day preceding the first business day of the delivery month.
Last Trading Day 	Fourth business day preceding the last business day of the delivery month at 12:30. 	Fourth business day preceding the last business day of the delivery month at 12:30. 	Fourth business day preceding the last business day of the delivery month at 12:30.
Last Notice Day 	Fourth business day preceding the last business day of the delivery month. 	Fourth business day preceding the last business day of the delivery month. 	Fourth business day preceding the last business day of the delivery month.
Delivery Limit 	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 	4:00 AM - 12:30 PM
04:00 - 12:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:00 AM - 5:30 PM
09:00 - 17:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:00 PM - 1:30 AM
17:00 - 01:30 	9:00 AM
09:00
Codes 	Clearing Admin Name 	Robusta 	Robusta
Codes 	Physical 	RC 	RC
Codes 	Logical 	RC 	RC
Codes 	GMI (FC) 	RC 	RC
Codes 	ION A.C.N. 	None 	None
Robusta Coffee Options 	Robusta Coffee Options 	Robusta Coffee Options 	Robusta Coffee Options
Trading Screen Product Name	Robusta Coffee Future 	Robusta Coffee Future 	Robusta Coffee Future
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	RC 	RC 	RC
Contract Size 	One Robusta Coffee futures contract 	One Robusta Coffee futures contract 	One Robusta Coffee futures contract
Price Quotation 	$ per tonne 	$ per tonne 	$ per tonne
Contract Series 	January, March, May, July, September, November such that ten expiry months are available for trading. The first expiry month for this Contract is November 2008.	January, March, May, July, September, November such that ten expiry months are available for trading. The first expiry month for this Contract is November 2008.	January, March, May, July, September, November such that ten expiry months are available for trading. The first expiry month for this Contract is November 2008.
Minimum Price Fluctuation 	$1 per tonne ($10) 	$1 per tonne ($10) 	$1 per tonne ($10)
Exercise 	American style 	American style 	American style
Daily Price Limit 	None 	None 	None
Strike Price Intervals 	$25 per tonne up to $1,000 $50 per tonne from $1,001 and above 	$25 per tonne up to $1,000 $50 per tonne from $1,001 and above 	$25 per tonne up to $1,000 $50 per tonne from $1,001 and above
Expiration Date 	12:30 on the third Wednesday of the calendar month preceding the expiry month 	12:30 on the third Wednesday of the calendar month preceding the expiry month 	12:30 on the third Wednesday 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 	4:00 AM - 12:30 PM
04:00 - 12:30 	None
Trading Hours 	LONDON 	9:00 AM - 5:30 PM
09:00 - 17:30 	None
Trading Hours 	SINGAPORE 	5:00 PM - 1:30 AM
17:00 - 01:30 	None
Codes 	Clearing Admin Name 	Robusta 	Robusta
Codes 	Physical 	RC 	RC
Codes 	Logical 	RC 	RC
Codes 	GMI (FC) 	RC 	RC
Codes 	ION A.C.N. 	None 	None
Robusta Coffee 1-Month Calendar Spread Options	Robusta Coffee 1-Month Calendar Spread Options 	Robusta Coffee 1-Month Calendar Spread Options 	Robusta Coffee 1-Month Calendar Spread Options
Trading Screen Product Name 	Robusta Coffee 1-Month CSO 	Robusta Coffee 1-Month CSO 	Robusta Coffee 1-Month CSO
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	RC1 (one-month series)
Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.
For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.
Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.	RC1 (one-month series)
Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.
For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.
Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.	RC1 (one-month series)
Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.
For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.
Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.
Contract Size 	A spread position between the two Robusta Coffee Futures contracts 	A spread position between the two Robusta Coffee Futures contracts 	A spread position between the two Robusta Coffee Futures contracts
Price Quotation 	£ per tonne 	£ per tonne 	£ per tonne
Contract Series 	January, March, May, July, September, November.
1-month series: Each of the first nine listed futures months paired with consecutive listed months. 	January, March, May, July, September, November.
1-month series: Each of the first nine listed futures months paired with consecutive listed months. 	January, March, May, July, September, November.
1-month series: Each of the first nine listed futures months paired with consecutive listed months.
Minimum Price Fluctuation 	£1 per tonne (£10) 	£1 per tonne (£10) 	£1 per tonne (£10)
Daily Price Limit 	None 	None 	None
Exercise 	American Style 	American Style 	American Style
Strike Price Intervals 	5-tick intervals (£5 per tonne) 	5-tick intervals (£5 per tonne) 	5-tick intervals (£5 per tonne)
Last Trading Day 	Each CSO contract expires at 12:30 PM 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 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option. 	Each CSO contract expires at 12:30 PM 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 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option. 	Each CSO contract expires at 12:30 PM 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 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option.
Call Option 	Buyer of a 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 a 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 a 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 a 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 a 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 a 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 	IFLX 	IFLX 	IFLX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	4:00 AM - 12:30 PM
04:00 - 12:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:00 AM - 5:30 PM
09:00 - 17:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:00 PM - 1:30 AM
17:00 - 01:30 	9:00 AM
09:00
Codes 	Clearing Admin Name 	Robusta 	Robusta
Codes 	Physical 	RC1 	RC1
Codes 	Logical 	RC1 	RC1
Codes 	GMI (FC) 	C1 	C1
Codes 	ION A.C.N. 	None 	None
Robusta Coffee 2-Month Calendar Spread Options	Robusta Coffee 2-Month Calendar Spread Options 	Robusta Coffee 2-Month Calendar Spread Options 	Robusta Coffee 2-Month Calendar Spread Options
Trading Screen Product Name 	Robusta Coffee 2-Month CSO 	Robusta Coffee 2-Month CSO 	Robusta Coffee 2-Month CSO
Trading Screen Hub Name 	ICEU 	ICEU 	ICEU
Contract Symbol 	RC2 (two-month series)
Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.
For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.
Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.	RC2 (two-month series)
Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.
For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.
Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.	RC2 (two-month series)
Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.
For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.
Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.
Contract Size 	A spread position between the two Robusta Coffee Futures contracts 	A spread position between the two Robusta Coffee Futures contracts 	A spread position between the two Robusta Coffee Futures contracts
Price Quotation 	£ per tonne 	£ per tonne 	£ per tonne
Contract Series 	January, March, May, July, September, November.
2-month series: Each of the first eight listed futures months paired with the second month forward from that month. 	January, March, May, July, September, November.
2-month series: Each of the first eight listed futures months paired with the second month forward from that month. 	January, March, May, July, September, November.
2-month series: Each of the first eight listed futures months paired with the second month forward from that month.
Minimum Price Fluctuation 	£1 per tonne (£10) 	£1 per tonne (£10) 	£1 per tonne (£10)
Daily Price Limit 	None 	None 	None
Exercise 	American Style 	American Style 	American Style
Strike Price Intervals 	5-tick intervals (£5 per tonne) 	5-tick intervals (£5 per tonne) 	5-tick intervals (£5 per tonne)
Last Trading Day 	Each CSO contract expires at 12:30 PM 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 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option. 	Each CSO contract expires at 12:30 PM 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 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option. 	Each CSO contract expires at 12:30 PM 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 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option.
Call Option 	Buyer of a 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 a 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 a 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 a 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 a 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 a 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 	IFLX 	IFLX 	IFLX
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	4:00 AM - 12:30 PM
04:00 - 12:30 	8:00 PM
20:00
Trading Hours 	LONDON 	9:00 AM - 5:30 PM
09:00 - 17:30 	1:00 AM
01:00
Trading Hours 	SINGAPORE 	5:00 PM - 1:30 AM
17:00 - 01:30 	9:00 AM
09:00
Codes 	Clearing Admin Name 	Robusta 	Robusta
Codes 	Physical 	RC2 	RC2
Codes 	Logical 	RC2 	RC2
Codes 	GMI (FC) 	C2 	C2
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE Robusta Coffee Product Spec
ICE Robusta Coffee 1-Month Calendar Spread Product Spec
ICE ICE Robusta Coffee 2-Month Calendar Spread Product Spec
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