New Global Cotton Futures Contract Coming Early 2015

IntercontinentalExchange (ICE) plans to launch its postponed global cotton futures contract early next year, according to a Reuters report from the International Cotton Association meeting in Dubai.

The new contract, which has been in development for more than a year, should provide a more accurate reflection of international prices, stated an ICE executive. Cotton traders have argued that a new contract is necessary because the United States contract currently used as the global benchmark relates only to deliveries of U.S. cotton.

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ICE had planned to launch the contract before the end of this year, but it was delayed by regulatory changes planned in Malaysia, one of the contract’s planned delivery points.

For more details, read the entire article here.

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