NYBOT to Introduce New Robusta Futures and Options ContractsRobusta Grade Adds to Existing Arabica Coffee Futures on the ICE Platform
NEW YORK, Aug. 27 /PRNewswire-FirstCall/ -- The New York Board of Trade
(NYBOT), a wholly-owned subsidiary of IntercontinentalExchange (NYSE: ICE),
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.
About IntercontinentalExchange
IntercontinentalExchange(R) (NYSE: ICE) 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 www.theice.com.
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.
SOURCE IntercontinentalExchange, Inc.