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NYBOT to Introduce New Robusta Futures and Options Contracts
Aug 27, 2007 (08:08 AM EDT)
NEW YORK, Aug. 27 /PRNewswire-FirstCall/ -- The New York Board of Trade (NYBOT), a wholly-owned subsidiary of IntercontinentalExchange , announced today that, effective Friday, September 28, 2007, a new Robusta Coffee futures contract will begin trading on ICE's electronic platform. The new contract will be listed alongside the world's largest coffee futures contract, NYBOT's Coffee "C" Arabica futures contract. Trading of inter- commodity spreads between the Robusta and Arabica futures contracts will be available on a single platform.
"The Robusta futures contract leverages the recognized strength and integrity of our coffee grading and physical delivery capabilities. We are pleased to respond to the demand for the Robusta contract design, as well as the opportunity to develop a liquid options market," said Thomas Farley, NYBOT President and COO. "Our global coffee trade customers were integrally involved in developing the terms of the new contract, and we look forward to enhancing the set of hedging tools available via the ICE platform."
The Robusta Coffee futures contract will trade from 1:30 a.m. to 3:15 p.m. ET. The contract will have a delivery cycle of March, May, July, September and December and will allow for physical delivery of exchange-graded product of up to 30 origins in any of four delivery points in the U.S. and five delivery points in Europe. Grading will be performed by exchange-licensed graders and will include a cupping component. The contract size is 37,500 pounds and will be priced in U.S. cents per pound.
Options on the new Robusta futures contract will begin trading on Monday, October 1, 2007. Options will trade on the NYBOT trading floor only and will be in the same trading ring as the Coffee "C" options, providing access to an existing deep and competitive pool of market makers.
IntercontinentalExchange(R) www.theice.com operates global commodity and financial products marketplaces, including the world's leading electronic energy markets and soft commodity exchange. ICE's diverse futures and over- the-counter (OTC) markets offer access to contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition to foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets through ICE Futures, its U.K. regulated London-based subsidiary, which offers the world's leading oil benchmarks and trades nearly half of the world's global crude futures in its markets. ICE conducts its soft commodity, foreign exchange and index markets through its U.S. regulated subsidiary, the New York Board of Trade(R). NYBOT(R) provides global futures and options markets, as well as clearing services through ICE Clear US(sm), its wholly owned clearing house. ICE's state-of-the-art electronic trading platform brings market access and transparency to participants in more than 50 countries. ICE was added to the Russell 1000(R) Index in June 2006. Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Houston, London, New York and Singapore. For more information, please visit .
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 - Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2006, and the Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2007, each as filed with the SEC on February 26, 2007, May 4, 2007 and July 27, 2007, respectively.
CONTACT: Investors: Kelly Loeffler, VP, Investor Relations & Corp. firstname.lastname@example.orgCommunications, IntercontinentalExchange, +1-770-857-4726,, or Sarah Stashak, Director, Investor & PublicRelations of IntercontinentalExchange, +1-770-857-0340,, or Media: Ellen G. Resnick, Crystal ClearCommunications, +1-773-929-9292, cell, +1-312-399-9295,
Web site: http://www.theice.com//