Formerly the Liverpool Cotton Association, it was formed in 1841 in Liverpool, UK, by a group of cotton brokers who created a set of trading rules to regulate the sale and purchase of raw cotton.
其前身为利物浦棉花协会，成立于1841年英国利物浦，由一批棉花经纪人创建，制定规范原棉销售和买卖的交易规则。