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mobile-submenu-item visible-xs"><a href="/web/20151004171253/https://www.theice.com/clearing">Overview</a></p></div><div id="content-1500088378"><div><p class="list-featured-header mobile-submenu-item"><a href="/web/20151004171253/https://www.theice.com/clear-europe">ICE Clear Europe</a></p><ul class="list-featured hidden-xs"><li><a href="/web/20151004171253/https://www.theice.com/clear-europe/risk-management">Risk Management</a></li><li><a href="/web/20151004171253/https://www.theice.com/clear-europe/membership">Membership</a></li><li><a href="/web/20151004171253/https://www.theice.com/clear-europe/circulars">Circulars</a></li><li><a href="/web/20151004171253/https://www.theice.com/clear-europe/regulation">Regulation</a></li><li><a href="/web/20151004171253/https://www.theice.com/clear-europe/operations">Operations</a></li><li><a href="/web/20151004171253/https://www.theice.com/clear-europe/technology">Technology</a></li><li><a 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data-reactid=".1thoxn9c000.2.3:$5.0">Benchmarks</a><div class="nav-flyout-drawer true-grid-10" data-reactid=".1thoxn9c000.2.3:$5.1"><div class="row"><div class="true-grid-quarter"><div><div id="content-1500088311"><div><p class="list-featured-header mobile-submenu-item"><a href="/web/20151004171253/https://www.theice.com/iba">About IBA</a></p><ul class="list-featured hidden-xs"><li><a href="/web/20151004171253/https://www.theice.com/iba/licensing">Licensing & Data</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/market-status">Market Status</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/board-of-directors">Board of Directors</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/historical-data">Historical Data</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/holiday-calendars">Holiday Calendar</a></li></ul></div></div></div></div><div class="true-grid-quarter"><div><div id="content-1500088312"><div><p 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href="/web/20151004171253/https://www.theice.com/iba/ice-swap-rate#accessing">Accessing Rates</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/ice-swap-rate#calculation">Methodology</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/ice-swap-rate#venues">Venues</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/ice-swap-rate#currencies-tenors">Currencies, Tenors & Publication Times</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/ice-swap-rate#governance">Governance & Oversight</a></li><li><a href="/web/20151004171253/https://www.theice.com/iba/ice-swap-rate#non-publication">Non-Publication Days</a></li><li><a href=""></a></li></ul></div></div></div></div><div class="true-grid-quarter"><div><div id="content-1500092153"><div><p class="list-featured-header mobile-submenu-item"><a href="/web/20151004171253/https://www.theice.com/iba/lbma-gold-price">LBMA Gold Price</a></p><ul class="list-featured hidden-xs"><li><a 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class="row"><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div></div><div class="hidden-xs"><div><div id="content-1500085149"><p class="list-featured-header mobile-submenu-item spacer-sm"><a href="/web/20151004171253/https://www.theice.com/iba/contact">Contact ICE Benchmark Administration</a></p></div></div></div></div></li><li class="" data-reactid=".1thoxn9c000.2.3:$6"><a href="/web/20151004171253/https://www.theice.com/marketdata/reports" data-reactid=".1thoxn9c000.2.3:$6.0">Reports</a><div class="nav-flyout-drawer true-grid-10" data-reactid=".1thoxn9c000.2.3:$6.1"><div class="row"><div class="true-grid-quarter"><div><div id="content-1500088404"><div><p class="list-featured-header mobile-submenu-item"><a href="/web/20151004171253/https://www.theice.com/marketdata/reports">See All Reports</a></p><ul class="list-featured hidden-xs"></ul></div></div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div></div><div class="row"><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div></div><div class="hidden-xs"><div><div id="content-1500088403"><p class="list-featured-header mobile-submenu-item">Frequently Accessed Reports</p> <ul class="list-inline list-featured hidden-xs"> <li><a href="/web/20151004171253/https://www.theice.com/marketdata/reports/10">ICE Futures Europe End of Day</a></li> <li><a href="/web/20151004171253/https://www.theice.com/marketdata/reports/122">Commitments of Traders</a></li> <li><a href="/web/20151004171253/https://www.theice.com/marketdata/reports/176">Daily, MTD, QTD, YTD Volume & OI</a></li> <li><a href="/web/20151004171253/https://www.theice.com/marketdata/reports/170">ICE LIBOR Historical Rates</a></li> </ul></div></div></div></div></li><li class="" data-reactid=".1thoxn9c000.2.3:$7"><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/why-nyse" data-reactid=".1thoxn9c000.2.3:$7.0">List</a><div class="nav-flyout-drawer true-grid-10" data-reactid=".1thoxn9c000.2.3:$7.1"><div class="row"><div class="true-grid-quarter"><div><div id="content-1500088363"><div><p class="list-featured-header mobile-submenu-item"><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/market-model">NYSE Market Model</a></p><ul class="list-featured hidden-xs"><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/market-model/overview#dmms-2">Designated Market Makers</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/market-model/overview#floor-brokers">Floor Brokers</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/market-model/overview#slp">Supplemental Liquidity Providers</a></li><li><a href=""></a></li></ul></div></div></div></div><div class="true-grid-quarter"><div><div id="content-1500088364"><div><p class="list-featured-header mobile-submenu-item"><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/corporate-services">NYSE Executive Solutions</a></p><ul class="list-featured hidden-xs"><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/corporate-services#investor-relations">IR Tools</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/corporate-services/nysegs">Governance Services</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/corporate-services/mac-desk">Market Access Center</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/corporate-services/bell-to-bell">Bell-to-Bell Coverage</a></li></ul></div></div></div></div><div class="true-grid-quarter"><div><div id="content-1500088365"><div><p class="list-featured-header mobile-submenu-item"><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/network">NYSE Network</a></p><ul class="list-featured hidden-xs"><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/the-exchange">Community</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/global-visibility">Global Visibility</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/bell">The Bell</a></li><li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/events">Events</a></li></ul></div></div></div></div><div class="true-grid-quarter"><div><div id="content-1500093002"><div class="media-promo hidden-xs"> <img class="media-object" src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/floor.jpg" style="width: 200px" alt=""> </div></div></div></div></div><div class="row"><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div></div><div class="hidden-xs"><div><div id="content-1500085134"><i class="logo-nyse"></i> <p class="list-featured-header mobile-submenu-item"><strong>Listings Resources</strong></p><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/get-started" class="btn btn-default pull-right">Get Started</a> <ul class="list-featured list-inline hidden-xs"> <li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/get-started/ipo-kit">IPO Kit</a></li> <li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/get-started/reference">Important References</a></li> <li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/get-started/transfer">Transfer</a></li> <li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/get-started/international/details">International Listings</a></li> <li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/get-started/what-to-list">What to List</a></li> <li><a href="https://web.archive.org/web/20151004171253/https://www.nyse.com/ipo-center/filings">IPO Center</a></li> </ul></div></div></div></div></li><li class="" data-reactid=".1thoxn9c000.2.3:$8"><a href="/web/20151004171253/https://www.theice.com/information-exchange" data-reactid=".1thoxn9c000.2.3:$8.0">Insights</a><div class="nav-flyout-drawer true-grid-10" data-reactid=".1thoxn9c000.2.3:$8.1"><div class="row"><div class="true-grid-quarter"><div><div id="content-1500090734"><div><p class="list-featured-header mobile-submenu-item"><a href="/web/20151004171253/https://www.theice.com/support/education">ICE Education</a></p><ul class="list-featured hidden-xs"><li><a href="/web/20151004171253/https://www.theice.com/EducationCourses.shtml?courseList=">Education Courses</a></li><li><a href="/web/20151004171253/https://www.theice.com/EducationCourses.shtml?courseCalendar=">Course Calendar</a></li><li><a href="/web/20151004171253/https://www.theice.com/support/education-booking-terms">Booking Terms</a></li><li><a href="/web/20151004171253/https://www.theice.com/KnowledgeCenter.shtml">Knowledge Center</a></li></ul></div></div></div></div><div class="true-grid-quarter"><div><div id="content-1500088341"><div><p class="list-featured-header mobile-submenu-item"><a href="/web/20151004171253/https://www.theice.com/information-exchange">The Information Exchange</a></p><ul class="list-featured hidden-xs"></ul></div></div><div id="content-1500092234"><ul class="list-featured hidden-xs"> <li> <a href="/web/20151004171253/https://www.theice.com/benchmarks-confidence"><img src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/ph_nav_iba.jpg" width="225"><br><ul class="list-featured">Restoring Integrity to Global Benchmarks</ul></a></li></ul></div></div></div><div class="true-grid-quarter"><div><div id="content-1500092236"><p class="list-featured-header mobile-submenu-item hidden-xs"><br></p> <ul class="list-featured hidden-xs"></ul> <ul class="list-featured hidden-xs"> <li><a href="/web/20151004171253/https://www.theice.com/brent-crude"><img src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/nav_promo_oil.jpg" width="225" alt=""><br><ul class="list-featured"><li>5 Facts About Today’s Oil Market</li></ul></a></li></ul></div></div></div><div class="true-grid-quarter"><div><div id="content-1500092238"><p class="list-featured-header mobile-submenu-item hidden-xs"><br></p> <ul class="list-featured hidden-xs"></ul> <ul class="list-featured hidden-xs"> <li><a href="/web/20151004171253/https://www.theice.com/article/world-cotton"><img src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/ph_nav_cotton.jpg" width="225" alt=""><br><ul class="list-featured"><li>Cotton Hedgers Pave Way for International Contracts</li></ul></a></li></ul></div></div></div></div><div class="row"><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div><div class="true-grid-quarter"><div></div></div></div><div class="hidden-xs"><div></div></div></div></li><li class="visible-xs is-standalone" data-reactid=".1thoxn9c000.2.4"><a href="#" data-reactid=".1thoxn9c000.2.4.0">Search</a></li></ul></div></div><div id="content-1500087915"><form class="typeahead-search typeahead-search-fullscreen typeahead-search typeahead is-empty" data-reactid=".1mgofijzxmo" data-react-checksum="-1919680461"><div class="typeahead-mask" data-reactid=".1mgofijzxmo.0"></div><div 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class=\"true-grid-quarter\"><div><div id=\"content-1500085741\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/products/Futures-Options\">Futures & Options</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/products/Futures-Options/Agriculture\">Agriculture</a></li><li><a href=\"/products/Futures-Options/Credit\">Credit</a></li><li><a href=\"/products/Futures-Options/Energy\">Energy</a></li><li><a href=\"/products/Futures-Options/Equity-Derivatives\">Equity Derivatives</a></li><li><a href=\"/products/Futures-Options/FX\">FX</a></li><li><a href=\"/products/Futures-Options/Freight\">Freight</a></li><li><a href=\"/products/Futures-Options/Interest-Rates\">Interest Rates</a></li><li><a href=\"/products/Futures-Options/Metals\">Metals</a></li><li><a href=\"/products/Futures-Options/Energy/Emissions\">Emissions</a></li><li><a href=\"/products/Futures-Options/US-Environmental\">U.S. Environmental</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088228\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/products/OTC\">OTC</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/products/OTC/Credit-Default-Swaps\">Credit Default Swaps</a></li><li><a href=\"/products/OTC/ICE-Swap-Trade\">ICE Swap Trade</a></li><li><a href=\"/products/OTC/Physical-Energy\">Physical Energy</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div><div id=\"content-1500090704\"><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/products\">SEE ALL Products <i class=\"chevron-e chevron-sm chevron-disabled\"></i></a></p></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500085092\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/products\">Featured Products</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/brent-crude\">Brent Crude</a></li><li><a href=\"/products/23/Sugar-No-11-Futures\">Sugar No 11</a></li><li><a href=\"/products/37650330/Three-Month-Sterling-Short-Sterling-Future\">Sterling</a></li><li><a href=\"/products/194/US-Dollar-Index-Futures\">USDX</a></li><li><a href=\"/products/38527986/Three-Month-Euribor-Futures\">EURIBOR</a></li><li><a href=\"/products/15/Coffee-C-Futures\">Coffee</a></li><li><a href=\"/products/6590258/Henry-LD1-Fixed-Price-Future\">Henry Hub</a></li><li><a href=\"/products/31196851/mini-MSCI-Emerging-Markets-Index-Future\">MSCI</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500085748\"><a class=\"media-promo hidden-xs\" href=\"https://www.theice.com/article/world-cotton\" target=\"_blank\">\r\n <img class=\"media-object\" src=\"/publicdocs/cmsdata/ice/images/cotton_square_logo.jpg\" height=\"150px\">\r\n <p class=\"media-heading\">World Cotton</p>\r\n <p>World Cotton will trade alongside the benchmark Cotton No. 2 contract</p>\r\n\r\n</a></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500088231\"><div class=\"split spacer-sm\">\r\n <div class=\"split-left split-vbottom\">\r\n <p class=\"list-featured-header mobile-submenu-item\">Trading Resources</p><ul class=\"list-featured-inline spacer-xs hidden-xs\">\r\n <li><a href=\"/productguide/Search.shtml?tradingHours=\">Trading Hours</a></li>\r\n <li><a href=\"/holiday-hours\">Holiday Calendar</a></li>\r\n <li><a href=\"/marketdata/ExpiryCalendar.shtml?expiry\">Expiry Dates</a></li>\r\n <li><a href=\"/products\">All Product Codes</a></li>\r\n <li><a href=\"http://data.theice.com/Services/DataDistribution/Vendor/VendorCodes.aspx\">Vendor Codes</a></li>\r\n </ul>\r\n </div>\r\n <div class=\"split-right split-vbottom\">\r\n <a href=\"/contact\" class=\"btn spacer-sm\">Help Desk</a>\r\n </div>\r\n</div></div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088006\"><p class=\"list-featured-header mobile-submenu-item visible-xs visible-sm\"><a href=\"/markets\">Overview</a></p></div><div id=\"content-1500086642\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/asset-classes\">Asset Classes</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/energy\">Energy</a></li><li><a href=\"/interest-rates\">Interest Rates</a></li><li><a href=\"/agriculture\">Agriculture</a></li><li><a href=\"/single-stock-equity-index\">Equity Derivatives</a></li><li><a href=\"/metals\">Metals</a></li><li><a href=\"/credit-derivatives\">Credit Derivatives</a></li><li><a href=\"/forex\">FX</a></li><li><a href=\"/emissions\">Emissions</a></li><li><a href=\"https://www.nyse.com\">Equities</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500091676\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/futures-europe\">ICE Futures Europe</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/futures-europe/regulation\">Regulation</a></li><li><a href=\"/futures-europe/circulars\">Circulars</a></li><li><a href=\"/futures-europe/corporate-actions\">Corporate Actions</a></li><li><a href=\"/futures-europe/membership\">Membership</a></li><li><a href=\"/futures-europe/brent\">Brent Index</a></li><li><a href=\"/futures-europe/market-resources\">Resources</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500091364\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/endex\">ICE Endex</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/endex/regulation\">Regulation</a></li><li><a href=\"/endex/circulars\">Circulars</a></li><li><a href=\"/endex/membership\">Membership</a></li><li><a href=\"/endex/supervisory-board\">Supervisory Board</a></li><li><a href=\"/endex/market-resources\">Resources</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500092216\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/otc-energy\">ICE OTC Energy</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/otc-energy/regulation\">Regulation</a></li><li><a href=\"/otc-energy/agreements\">Agreements</a></li><li><a href=\"/otc-energy/cleared-ngx-markets\">Cleared NGX</a></li><li><a href=\"/ccx\">OTC Environmental</a></li><li><a href=\"https://brix.com.br/homepage.jhtml\">Brix</a></li></ul></div></div><div id=\"content-1500085171\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/brokered-markets\">Brokered Markets</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/service/creditex\">Creditex</a></li><li><a href=\"/service/broker-services#chatham\">Chatham</a></li><li><a href=\"/service/broker-services#beacon\">Beacon</a></li></ul></div></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088012\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/futures-us\">ICE Futures U.S.</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/futures-us/regulation\">Regulation</a></li><li><a href=\"/futures-us/notices\">Notices</a></li><li><a href=\"/futures-us/membership\">Membership</a></li><li><a href=\"/futures-us/market-resources\">Resources</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088014\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/futures-canada\">ICE Futures Canada</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/futures-canada/regulation\">Regulation</a></li><li><a href=\"/futures-canada/notices\">Notices</a></li><li><a href=\"/futures-canada/membership\">Membership</a></li><li><a href=\"/futures-canada/market-resources\">Resources</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088013\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/futures-singapore\">ICE Futures Singapore</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/futures-singapore/regulation\">Regulation</a></li><li><a href=\"/futures-singapore/circulars\">Circulars</a></li><li><a href=\"/futures-singapore/membership\">Membership</a></li><li><a href=\"/futures-singapore/market-resources\">Resources</a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088015\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/swap-trade\">ICE Swap Trade</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/swap-trade/regulation\">Regulation</a></li><li><a href=\"/swap-trade/notices\">Notices</a></li><li><a href=\"/swap-trade/membership\">Membership</a></li></ul></div></div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500090132\"><div class=\"split spacer-sm\">\r\n <div class=\"split-left split-vbottom\">\r\n <p class=\"list-featured-header mobile-submenu-item\">Trading Resources</p>\r\n <ul class=\"list-featured-inline spacer-xs hidden-xs\">\r\n <li><a href=\"/productguide/Search.shtml?tradingHours=\">Trading Hours</a></li>\r\n <li><a href=\"/holiday-hours\">Holiday Calendar</a></li>\r\n <li><a href=\"/marketdata/ExpiryCalendar.shtml?expiry\">Expiry Dates</a></li>\r\n <li><a href=\"/products\">All Product Codes</a></li>\r\n <li><a href=\"http://data.theice.com/Services/DataDistribution/Vendor/VendorCodes.aspx\">Vendor Codes</a></li>\r\n </ul>\r\n </div>\r\n <div class=\"split-right split-vbottom\">\r\n <a href=\"/contact\" class=\"btn spacer-sm\">Help Desk</a>\r\n </div>\r\n</div>\r\n</div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088377\"><p class=\"list-featured-header mobile-submenu-item visible-xs\"><a href=\"/clearing\">Overview</a></p></div><div id=\"content-1500088378\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clear-europe\">ICE Clear Europe</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-europe/risk-management\">Risk Management</a></li><li><a href=\"/clear-europe/membership\">Membership</a></li><li><a href=\"/clear-europe/circulars\">Circulars</a></li><li><a href=\"/clear-europe/regulation\">Regulation</a></li><li><a href=\"/clear-europe/operations\">Operations</a></li><li><a href=\"/clear-europe/technology\">Technology</a></li><li><a href=\"/clear-europe/treasury-and-banking\">Treasury & Banking</a></li><li><a href=\"/clear-europe/client-clearing\">Client Clearing</a></li><li><a href=\"/clear-europe/cds\">CDS</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500086002\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clear-canada\">ICE Clear Canada</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-canada/risk-management\">Risk Management</a></li><li><a href=\"/clear-canada/participants\">Membership</a></li><li><a href=\"/clear-canada/notices\">Notices</a></li><li><a href=\"/clear-canada/regulation\">Regulation</a></li><li><a href=\"/clear-canada/technology\">Technology</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088383\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clear-netherlands\">ICE Clear Netherlands</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-netherlands/risk-management\">Risk Management</a></li><li><a href=\"/clear-netherlands/membership\">Membership</a></li><li><a href=\"/clear-netherlands/notices\">Notices</a></li><li><a href=\"/clear-netherlands/operations\">Operations</a></li><li><a href=\"/clear-netherlands/regulation\">Regulation</a></li><li><a href=\"/clear-netherlands/technology\">Technology</a></li><li><a href=\"/clear-netherlands/statistics\">Statistics</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088385\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clearing-corp\">The Clearing Corp</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-us/notices\">Notices</a></li><li><a href=\"/clearing-corp/regulation\">Regulation</a></li><li><a href=\"https://firms.icc.theice.com/wrq/session/\">Atom</a></li><li><a href=\"https://www.theice.com/clearingcorp/bulletins/index.html\">Archived Bulletins</a></li></ul></div></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500092198\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clear-us\">ICE Clear U.S.</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-us/risk-management\">Risk Management</a></li><li><a href=\"/clear-us/membership\">Membership</a></li><li><a href=\"/clear-us/notices\">Notices</a></li><li><a href=\"/clear-us/regulation\">Regulation</a></li><li><a href=\"/clear-us/technology\">Technology</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088382\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clear-singapore\">ICE Clear Singapore</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-singapore/membership\">Membership</a></li><li><a href=\"/clear-singapore/circulars\">Circulars</a></li><li><a href=\"/clear-singapore/regulation\">Regulation</a></li><li><a href=\"/clear-singapore/technology\">Technology</a></li><li><a href=\"/clear-singapore/treasury\">Treasury</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500085910\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/clear-credit\">ICE Clear Credit</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/clear-credit/participants\">Membership</a></li><li><a href=\"/clear-credit/circulars\">Circulars</a></li><li><a href=\"/clear-credit/regulation\">Regulation</a></li><li><a href=\"/clear-credit/cds-client-clearing\">CDS Client Clearing</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500085913\"><p class=\"list-featured-header mobile-submenu-item\">Clearing Resources</p>\r\n<ul class=\"list-inline list-featured hidden-xs\">\r\n <li><a href=\"https://www.theice.com/productguide/Search.shtml?tradingHours=\">Trading Calendar</a></li>\r\n <li><a href=\"/holiday-hours\">Holiday Calendar</a></li>\r\n <li><a href=\"/fees\">Fees</a></li>\r\n <li><a href=\"/margins\">Margins</a></li>\r\n <li><a href=\"/marketdata/ExpiryCalendar.shtml?expiry\">Expiry Calendar</a></li>\r\n <li><a href=\"/Subscription.shtml\">Subscriptions</a></li>\r\n<li><a href=\"/technology/ice-link\">ICE Link</a></li>\r\n</ul></div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088259\"><div class=\"visible-xs visible-sm\"><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/market-data\">Overview</a></p></div></div><div id=\"content-1500088266\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/market-data/traders-risk-managers\">For Traders & Risk Managers</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/market-data/view-only-quotes\">View-Only Quotes</a></li><li><a href=\"/market-data/ice-indices\">ICE Indices</a></li><li><a href=\"https://www.superderivatives.com/\">SuperDerivatives</a></li><li><a href=\"/market-data/end-of-day-reports\">End of Day Reports</a></li><li><a href=\"/marketdata/reports\">Report Center</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500090789\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/market-data/quote-data-distribution\">Quote and Data Distribution</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/market-data/quote-data-distribution\">Quote Vendors</a></li><li><a href=\"/market-data/end-of-day-reports\">End-of-Day Pricing Data</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div><div id=\"content-1500087376\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/market-data/third-party\">Third-Party Data</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/market-data/oil-gas-commentary\">Oil & Natural Gas Commentary</a></li><li><a href=\"/data/live-squawk\">Real-Time, Global Financial News</a></li><li><a href=\"/market-data/weather-services\">Meteorological Reports</a></li><li><a href=\"/market-data/petroleum-status-alerts\">Global Petroleum Refining Alerts</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500091856\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/iba\">Benchmark Administration Services</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/iba/libor\">ICE LIBOR</a></li><li><a href=\"/iba/ice-swap-rate\">ICE Swap Rate</a></li><li><a href=\"/iba/lbma-gold-price\">LBMA Gold Price</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div><div id=\"content-1500088264\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/market-data/market-price-validation\">Market Price Validation</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088586\"><a class=\"media-promo hidden-xs\" href=\"/marketdata/reports\">\r\n <img class=\"media-object\" src=\"/publicdocs/cmsdata/ice/images/Promo_report_center_preview.jpg\" height=\"150px\">\r\n <p class=\"media-heading\">ICE Report Center</p>\r\n <p>Offering Reports across all ICE Exchanges and Products</p>\r\n</a></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500088260\"><p class=\"list-featured-header mobile-submenu-item\">Interested in Using Our Data?</p>\r\n<p><a href=\"/contact?form=services#directory\" class=\"btn btn-more\">Start Here</a></p></div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088244\"><p class=\"list-featured-header mobile-submenu-item visible-xs\"><a href=\"/technology-and-services\">Overview</a></p></div><div id=\"content-1500088245\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/technology/pre-trade\">Pre-Trade</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/technology/instant-message\">Instant Messaging</a></li><li><a href=\"/technology/cscreen\">Cscreen</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500091697\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/technology/trading-apps\">Trade</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/technology/ice-trading-platform\">ICE Trading Platform</a></li><li><a href=\"/technology/options-analytics\">Options Analytics</a></li><li><a href=\"/technology/ice-block\">ICE Block</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500086492\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/technology/post-trade\">Post Trade</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/technology/trade-vault\">Trade Vault</a></li><li><a href=\"/technology/econfirm\">eConfirm</a></li><li><a href=\"/technology/ice-link\">ICE Link</a></li><li><a href=\"https://www.superderivatives.com\">SuperDerivatives</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500091606\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/technology/connectivity\">Ways to Connect</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/technology/direct-connection\">Connectivity & Colocation</a></li><li><a href=\"/technology/internet-connection\">Web & Mobile</a></li><li><a href=\"/technology/isv\">Independent Software Providers (ISV)</a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li><li><a href=\"\"></a></li></ul></div></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500088243\"><p class=\"list-featured-header mobile-submenu-item\">Our Security Commitment</p>\r\n<ul class=\"list-inline list-featured hidden-xs\">\r\n <li><a href=\"/security\">Learn How We Protect Your Information</a></li>\r\n</ul></div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088311\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/iba\">About IBA</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/iba/licensing\">Licensing & Data</a></li><li><a href=\"/iba/market-status\">Market Status</a></li><li><a href=\"/iba/board-of-directors\">Board of Directors</a></li><li><a href=\"/iba/historical-data\">Historical Data</a></li><li><a href=\"/iba/holiday-calendars\">Holiday Calendar</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088312\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/iba/libor\">ICE LIBOR</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/iba/libor#calculating\">Calculating ICE Libor</a></li><li><a href=\"/iba/libor#panel-composition\">Panel Composition</a></li><li><a href=\"/iba/libor#governance\">Governance & Oversight</a></li><li><a href=\"/iba/libor#fixing-calendar\">Non-Publication Days</a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500093233\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/iba/ice-swap-rate\">ICE Swap Rate</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/iba/ice-swap-rate#accessing\">Accessing Rates</a></li><li><a href=\"/iba/ice-swap-rate#calculation\">Methodology</a></li><li><a href=\"/iba/ice-swap-rate#venues\">Venues</a></li><li><a href=\"/iba/ice-swap-rate#currencies-tenors\">Currencies, Tenors & Publication Times</a></li><li><a href=\"/iba/ice-swap-rate#governance\">Governance & Oversight</a></li><li><a href=\"/iba/ice-swap-rate#non-publication\">Non-Publication Days</a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500092153\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/iba/lbma-gold-price\">LBMA Gold Price</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"/iba/lbma-gold-price#methodology\">Methodology</a></li><li><a href=\"/iba/lbma-gold-price#technology\">Technology</a></li><li><a href=\"/iba/lbma-gold-price#auction-process\">Auction Process</a></li><li><a href=\"/iba/lbma-gold-price#participants\">Direct Participants</a></li><li><a href=\"/iba/lbma-gold-price#participation\">Client Participation</a></li><li><a href=\"/iba/lbma-gold-price#publication\">Publication</a></li><li><a href=\"/iba/lbma-gold-price#governance-oversight\">Governance & Oversight</a></li><li><a href=\"/iba/lbma-gold-price#non-publication-days\">Non-Publication Days</a></li><li><a href=\"\"></a></li></ul></div></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500085149\"><p class=\"list-featured-header mobile-submenu-item spacer-sm\"><a href=\"/iba/contact\">Contact ICE Benchmark Administration</a></p></div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088404\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"/marketdata/reports\">See All Reports</a></p><ul class=\"list-featured hidden-xs\"></ul></div></div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500088403\"><p class=\"list-featured-header mobile-submenu-item\">Frequently Accessed Reports</p>\r\n<ul class=\"list-inline list-featured hidden-xs\">\r\n <li><a href=\"/marketdata/reports/10\">ICE Futures Europe End of Day</a></li>\r\n \r\n <li><a href=\"/marketdata/reports/122\">Commitments of Traders</a></li>\r\n <li><a href=\"/marketdata/reports/176\">Daily, MTD, QTD, YTD Volume & OI</a></li>\r\n <li><a href=\"/marketdata/reports/170\">ICE LIBOR Historical Rates</a></li>\r\n \r\n </ul></div></div></div>","<div class=\"row\"><div class=\"true-grid-quarter\"><div><div id=\"content-1500088363\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"https://www.nyse.com/market-model\">NYSE Market Model</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"https://www.nyse.com/market-model/overview#dmms-2\">Designated Market Makers</a></li><li><a href=\"https://www.nyse.com/market-model/overview#floor-brokers\">Floor Brokers</a></li><li><a href=\"https://www.nyse.com/market-model/overview#slp\">Supplemental Liquidity Providers</a></li><li><a href=\"\"></a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088364\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"https://www.nyse.com/corporate-services\">NYSE Executive Solutions</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"https://www.nyse.com/corporate-services#investor-relations\">IR Tools</a></li><li><a href=\"https://www.nyse.com/corporate-services/nysegs\">Governance Services</a></li><li><a href=\"https://www.nyse.com/corporate-services/mac-desk\">Market Access Center</a></li><li><a href=\"https://www.nyse.com/corporate-services/bell-to-bell\">Bell-to-Bell Coverage</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500088365\"><div><p class=\"list-featured-header mobile-submenu-item\"><a href=\"https://www.nyse.com/network\">NYSE Network</a></p><ul class=\"list-featured hidden-xs\"><li><a href=\"https://www.nyse.com/the-exchange\">Community</a></li><li><a href=\"https://www.nyse.com/global-visibility\">Global Visibility</a></li><li><a href=\"https://www.nyse.com/bell\">The Bell</a></li><li><a href=\"https://www.nyse.com/events\">Events</a></li></ul></div></div></div></div><div class=\"true-grid-quarter\"><div><div id=\"content-1500093002\"><div class=\"media-promo hidden-xs\">\r\n<img class=\"media-object\" src=\"/publicdocs/cmsdata/ice/images/floor.jpg\" style=\"width: 200px\" alt=\"\">\r\n </div></div></div></div></div><div class=\"row\"><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div><div class=\"true-grid-quarter\"><div></div></div></div><div class=\"hidden-xs\"><div><div id=\"content-1500085134\"><i class=\"logo-nyse\"></i>\r\n<p class=\"list-featured-header mobile-submenu-item\"><strong>Listings Resources</strong></p><a href=\"https://www.nyse.com/get-started\" 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id="content-fa4101d1-7f84-4392-b449-d1b311113b33"></div><div class="row"><div class="l-main true-grid-10"><div id="content-1500087574"><header class="page-header page-header-long" data-reactid=".2ejhowx9ts0" data-react-checksum="-600280517"><div class="page-header-parent" data-reactid=".2ejhowx9ts0.0"><a href="/web/20151004171253/https://www.theice.com/information-exchange" style="color:#a2a4a3; font-weight: 300;">The Exchange</a></div><h1 data-reactid=".2ejhowx9ts0.1">Cotton Hedgers Pave the Way for International Contracts</h1></header></div><div><div id="content-1500087040"><div data-reactid=".1gexr0m1q0w" data-react-checksum="-1987125935"><h2 class="secondary-header" data-reactid=".1gexr0m1q0w.$0">ICE WORLD COTTON CONTRACT TO LAUNCH NOVEMBER 2, 2015*</h2><p class="" data-reactid=".1gexr0m1q0w.$1">While cotton has had a long-standing spot at the center of the global textiles industry, the last decade has seen a pronounced shift in the commodity's production and exportation. In 2003/2004, the U.S. accounted for 19% of the world's cotton production and 41% of global cotton exports. Just ten years later in 2013/2014, the U.S. accounted for only 11% of world cotton production and 27% of the product's exports - a 42% and 34% drop respectively. </p><p class="" data-reactid=".1gexr0m1q0w.$2">And cotton hedgers have noticed. </p><p class="" data-reactid=".1gexr0m1q0w.$3">“Our customers told us they want a futures contract that acts as the broader price benchmark for world cotton,” says ICE Futures U.S. President Ben Jackson. “It makes sense. An international cotton contract allowing delivery of multiple points of origins in multiple locations reflects the global nature of today’s cotton market and will enhance the ability of cotton market participants to hedge in a global market.”</p><p class="" data-reactid=".1gexr0m1q0w.$4"><table><tr><td><img src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/cotton_artcle_chart.png" style="margin-right: 10px; width: 550px;"></td><td>In response to the need for a better hedging mechanism, we've developed a new contract that allows delivery of cotton from origins that collectively represent 73% of world cotton exports.</td></tr></table></p><p class="" data-reactid=".1gexr0m1q0w.$5"> </p><p class="disclaimer" data-reactid=".1gexr0m1q0w.$6">Source: WASDE April Report<br>CFA represents Benin, Burkina Faso, Cameroon, Ivory Coast and Mali</p><h3 class="subheader" data-reactid=".1gexr0m1q0w.$7">Trading Alongside ICE’s Cotton No. 2<sup>®</sup> Futures Contract</h3><p class="" data-reactid=".1gexr0m1q0w.$8">As the home of the U.S. cotton benchmark, we’re excited to support the launch of a complementary international contract to trade alongside the U.S. cotton benchmark No. 2 contract.</p><p class="" data-reactid=".1gexr0m1q0w.$9">“We have a history of evolving our products to meet the changing needs of the trade” continues Jackson. “Because of that history, our customers have come to rely on our markets to provide holistic hedging solutions. Our Cotton No. 2 contract offers regional hedging across the U.S., which is the world’s top exporter of cotton. Now we’ll have two contracts trading side by side – one that tracks the top country for cotton exportation and one that tracks the global cotton market.”</p><p class="" data-reactid=".1gexr0m1q0w.$10">The new world cotton futures contract is a logical step in our history of providing hedging solutions to cotton market participants, which dates back to the establishment of the New York Cotton Exchange in the late 1800s.</p><h2 class="secondary-header" data-reactid=".1gexr0m1q0w.$11">Plans for ICE Futures U.S. World Cotton Contract</h2><p class="" data-reactid=".1gexr0m1q0w.$12">Based on input from market participants including the American Cotton Shippers Association (ACSA) and the International Cotton Association (ICA), the current draft contract terms include:</p><p class="" data-reactid=".1gexr0m1q0w.$13"><ul><li>Physical delivery at expiration</li><li>Delivery of multiple origins, including Brazil, Australia, the United States, India and West Africa</li><li>Delivery at both origin and Asian destination delivery points</li></ul><img src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/WorldCotton-ContractDeliveryOrigins2.jpg" width="50%"><img src="/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/WorldCotton-ContractDeliveryPoints.jpg" width="50%"></p><p class="" data-reactid=".1gexr0m1q0w.$14"><a href="/web/20151004171253/https://www.theice.com/publicdocs/futures/ICE_World_Cotton.pdf" target="_blank">More Info on ICE’s World Cotton Future</a></p><p class="" data-reactid=".1gexr0m1q0w.$15">“This contract will give cotton producers, merchants, spinners and mills an enhanced ability to manage their risk,” Jackson says. “We’re grateful for the customer feedback that drove the design of our world cotton futures contract and look forward to listing the contract later this year.”</p></div></div><div id="content-1500087577"><style> .tile { border-style: solid; border-width: 1px; color: #a2a4a3; } </style> <p class="secondary-header" align="center">Related Content</p> <div class="row"> <div class="col-md-4 col-sm-4"> <a class="tile tile-square" href="/web/20151004171253/https://www.theice.com/publicdocs/World_Cotton_Web.pdf" target="_blank"> <div class="tile-media" style="background-image: url('/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/cotton_field2_tile_img.jpg');"></div> <div class="tile-content"> <div class="tile-title">Reshaping Cotton Trading </div> <p>Why we need an international cotton future and the changes it brings to agricultural trading </p> </div> </a> </div> <div class="col-md-4 col-sm-4"> <a class="tile tile-square" href="/web/20151004171253/https://www.theice.com/publicdocs/futures/ICE_World_Cotton.pdf" target="_blank"> <div class="tile-media" style="background-image: url('/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/cotton_field_tile_img.jpg');"></div> <div class="tile-content"> <div class="tile-title">World Cotton Contract Details</div> <p>More info on the ICE World Cotton contract and how it will trade </p> </div> </a> </div> <div class="col-md-4 col-sm-4"> <a class="tile tile-square" href="https://web.archive.org/web/20151004171253/https://www.theice.com/publicdocs/futures/Cotton_Differentials.pdf" target="_blank"> <div class="tile-media" style="background-image: url('/web/20151004171253im_/https://www.theice.com/publicdocs/cmsdata/ice/images/ph_cotton_differential.jpg');"></div> <div class="tile-content"> <div class="tile-title">World Cotton Delivery Differentials </div> <p>Cotton delivery invoice differentials other than par origin, delivery location and quality</p> </div> </a> </div> </div> </div></div></div></div></div><footer class="page-subfooter inverse"><div><div id="content-1500087580"> <div class="row hidden-xs"> <div class="true-grid-3"> <a href="https://web.archive.org/web/20151004171253/https://www.intercontinentalexchange.com/" target="_blank"> <p 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renderComponent('BusinessUnitAlert', '3.0.0', 'content-fa4101d1-7f84-4392-b449-d1b311113b33', {"elementId":"content-fa4101d1-7f84-4392-b449-d1b311113b33"}); renderComponent('PageHeader', '4.0.0', 'content-1500087574', {"header":"Cotton Hedgers Pave the Way for International Contracts","parentHeader":"<a href=\"/information-exchange\" style=\"color:#a2a4a3; font-weight: 300;\">The Exchange</a>","elementId":"content-1500087574"}); renderComponent('TextParagraphs', '4.0.2', 'content-1500087040', {"sections":[{"type":"header","content":"ICE WORLD COTTON CONTRACT TO LAUNCH NOVEMBER 2, 2015*","className":"secondary-header"},{"type":"paragraph","content":"While cotton has had a long-standing spot at the center of the global textiles industry, the last decade has seen a pronounced shift in the commodity's production and exportation. In 2003/2004, the U.S. accounted for 19% of the world's cotton production and 41% of global cotton exports. Just ten years later in 2013/2014, the U.S. accounted for only 11% of world cotton production and 27% of the product's exports - a 42% and 34% drop respectively. ","className":""},{"type":"paragraph","content":"And cotton hedgers have noticed. ","className":""},{"type":"paragraph","content":"“Our customers told us they want a futures contract that acts as the broader price benchmark for world cotton,” says ICE Futures U.S. President Ben Jackson. “It makes sense. An international cotton contract allowing delivery of multiple points of origins in multiple locations reflects the global nature of today’s cotton market and will enhance the ability of cotton market participants to hedge in a global market.”","className":""},{"type":"paragraph","content":"<table><tr><td><img src=\"/publicdocs/cmsdata/ice/images/cotton_artcle_chart.png\" style=\"margin-right: 10px; width: 550px;\"></td><td>In response to the need for a better hedging mechanism, we've developed a new contract that allows delivery of cotton from origins that collectively represent 73% of world cotton exports.</td></tr></table>","className":""},{"type":"paragraph","content":" ","className":""},{"type":"paragraph","content":"Source: WASDE April Report<br>CFA represents Benin, Burkina Faso, Cameroon, Ivory Coast and Mali","className":"disclaimer"},{"type":"subheader","content":"Trading Alongside ICE’s Cotton No. 2<sup>®</sup> Futures Contract","className":"subheader"},{"type":"paragraph","content":"As the home of the U.S. cotton benchmark, we’re excited to support the launch of a complementary international contract to trade alongside the U.S. cotton benchmark No. 2 contract.","className":""},{"type":"paragraph","content":"“We have a history of evolving our products to meet the changing needs of the trade” continues Jackson. “Because of that history, our customers have come to rely on our markets to provide holistic hedging solutions. Our Cotton No. 2 contract offers regional hedging across the U.S., which is the world’s top exporter of cotton. Now we’ll have two contracts trading side by side – one that tracks the top country for cotton exportation and one that tracks the global cotton market.”","className":""},{"type":"paragraph","content":"The new world cotton futures contract is a logical step in our history of providing hedging solutions to cotton market participants, which dates back to the establishment of the New York Cotton Exchange in the late 1800s.","className":""},{"type":"header","content":"Plans for ICE Futures U.S. World Cotton Contract","className":"secondary-header"},{"type":"paragraph","content":"Based on input from market participants including the American Cotton Shippers Association (ACSA) and the International Cotton Association (ICA), the current draft contract terms include:","className":""},{"type":"paragraph","content":"<ul><li>Physical delivery at expiration</li><li>Delivery of multiple origins, including Brazil, Australia, the United States, India and West Africa</li><li>Delivery at both origin and Asian destination delivery points</li></ul><img src=\"/publicdocs/cmsdata/ice/images/WorldCotton-ContractDeliveryOrigins2.jpg\" width=\"50%\"><img src=\"/publicdocs/cmsdata/ice/images/WorldCotton-ContractDeliveryPoints.jpg\" width=\"50%\">","className":""},{"type":"paragraph","content":"<a href=\"/publicdocs/futures/ICE_World_Cotton.pdf\" target=\"_blank\">More Info on ICE’s World Cotton Future</a>","className":""},{"type":"paragraph","content":"“This contract will give cotton producers, merchants, spinners and mills an enhanced ability to manage their risk,” Jackson says. “We’re grateful for the customer feedback that drove the design of our world cotton futures contract and look forward to listing the contract later this year.”","className":""}],"elementId":"content-1500087040"}); } function renderComponent(name, version, elementId, json) { if (document.getElementById(elementId)) { setTimeout(function() { new window.ICE.components[name + 'Component'][version](json); }); } } var readyPromise = new Promise(function(resolve) { if (document.readyState === 'complete') { return resolve(); } document.addEventListener('DOMContentLoaded', resolve); }); readyPromise.then(renderComponents, renderComponents); }()); </script><div><div id="content-1500066499"><script> (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,'script','//web.archive.org/web/20151004171253/https://www.google-analytics.com/analytics.js','ga'); ga('create', 'UA-50934818-1', 'theice.com'); ga('send', 'pageview'); </script>  <noscript><iframe src="//web.archive.org/web/20151004171253if_/https://www.googletagmanager.com/ns.html?id=GTM-5GCW73" height="0" width="0" style="display:none;visibility:hidden"></iframe></noscript> <script>(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push( {'gtm.start': new Date().getTime(),event:'gtm.js'} );var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= '//web.archive.org/web/20151004171253/https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-5GCW73');</script> </div></div></body></html>