The Coffee, Sugar and Cocoa Exchange (CSCE) was founded in 1882 as the Coffee Exchange in the City of New York. Sugar futures were added in 1914, and, on September 28, 1979,[1] the New York Coffee and Sugar Exchange merged with the New York Cocoa Exchange (which in turn had been founded in 1925) to form CSCE. In 1998, CSCE merged with the New York Cotton Exchange as subsidiaries of the New York Board of Trade (NYBOT). The CSCE operates as an independent unit of NYBOT trading futures and options on coffee, sugar and cocoa and the S&P Commodity Index. Trading is by open outcry, from 8 a.m. to 2:45p.m., Monday through Friday. In January 2007, NYBOT merged with IntercontinentalExchange (ICE) and became a wholly owned subsidiary of ICE.[2]
Benjamin Green Arnold, founding president of the Coffee Exchange.
At the end of April 1902, H. M. Humphreys resigned from his position as superintendent of the Coffee Exchange to become vice president of the newly formed Mutual Alliance Trust Company.[3]
Coffee broker Joseph J. O'Donohue was a founder of the Coffee Exchange, New York's City Commissioner of Parks, and a founder of the Brooklyn-New York Ferry.[4]
In 1909 writer Vincent O'Sullivan lost his income from the family coffee business when his brother Percy made a spectacularly mistimed futures gamble at the New York Coffee Exchange. The entire family was ruined, and Vincent was destitute for the remaining years of his life.[7]
Some major U.S. commodities exchanges, like the New York Coffee Exchange and the Chicago Mercantile Exchange did not begin using clearing houses to settle their transactions until the second decade of the 20th century. The New York Coffee Exchange began using clearing houses in 1914.[8]
A commodity market is a market that trades in the primary economic sector rather than manufactured products, such as cocoa, fruit and sugar. Hard commodities are mined, such as gold and oil. Futures contracts are the oldest way of investing in commodities. Commodity markets can include physical trading and derivatives trading using spot prices, forwards, futures, and options on futures. Farmers have used a simple form of derivative trading in the commodity market for centuries for price risk management.
In finance, a futures contract is a standardized legal contract to buy or sell something at a predetermined price for delivery at a specified time in the future, between parties not yet known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price of the contract is known as the forward price. The specified time in the future when delivery and payment occur is known as the delivery date. Because it derives its value from the value of the underlying asset, a futures contract is a derivative.
A futures exchange or futures market is a central financial exchange where people can trade standardized futures contracts defined by the exchange. Futures contracts are derivatives contracts to buy or sell specific quantities of a commodity or financial instrument at a specified price with delivery set at a specified time in the future. Futures exchanges provide physical or electronic trading venues, details of standardized contracts, market and price data, clearing houses, exchange self-regulations, margin mechanisms, settlement procedures, delivery times, delivery procedures and other services to foster trading in futures contracts. Futures exchanges can be organized as non-profit member-owned organizations or as for-profit organizations. Futures exchanges can be integrated under the same brand name or organization with other types of exchanges, such as stock markets, options markets, and bond markets. Non-profit member-owned futures exchanges benefit their members, who earn commissions and revenue acting as brokers or market makers. For-profit futures exchanges earn most of their revenue from trading and clearing fees.
The New York Mercantile Exchange (NYMEX) is a commodity futures exchange owned and operated by CME Group of Chicago. NYMEX is located at One North End Avenue in Brookfield Place in the Battery Park City section of Manhattan, New York City.
The New York Board of Trade, is a physical commodity futures exchange located in New York City. It is a wholly owned subsidiary of Intercontinental Exchange (ICE).
CSCE may refer to
The New York Cotton Exchange (NYCE) is a commodities exchange founded in 1870 by a group of one hundred cotton brokers and merchants in New York City. In 1998, the New York Board of Trade (NYBOT) became the parent company of the New York Cotton Exchange, and it is now owned by IntercontinentalExchange (ICE).
Coffee is a popular beverage and an important commodity. Tens of millions of small producers in developing countries make their living growing coffee. Over 2.25 billion cups of coffee are consumed in the world daily that amounts to 2.5 cups of coffee consumed per person on average. Over 90 percent of coffee production takes place in developing countries — mainly South America — while consumption happens primarily in industrialized economies. There are 25 million small producers who rely on coffee for a living worldwide. In Brazil, where almost a third of the world's coffee is produced, over five million people are employed in the cultivation and harvesting of over three billion coffee plants; it is a more labor-intensive culture than alternative cultures of the same regions, such as sugar cane or cattle, as its cultivation is not automated, requiring frequent human attention.
StoneX Group Inc. is a financial services organization. The company operates in six areas: commercial hedging, global payments, securities, physical commodities, foreign exchange and clearing and execution services (CES). The company ranked No. 58 in the 2021 Fortune 500 list of the largest United States corporations by total revenue. In July 2020, the company rebranded and changed its name to StoneX Group Inc.
The Refinitiv/CoreCommodity CRB Index is a commodity futures price index. It was first calculated by Commodity Research Bureau, Inc. in 1957 and made its inaugural appearance in the 1958 CRB Commodity Year Book.
Soft commodities, or softs, are commodities such as coffee, cocoa, sugar, corn, wheat, soybean, fruit and livestock. The term generally refers to commodities that are grown, rather than mined; the latter are known as hard commodities.
Intercontinental Exchange, Inc. (ICE) is an American company formed in 2000 that operates global financial exchanges and clearing houses and provides mortgage technology, data and listing services. Listed on the Fortune 500, S&P 500, and Russell 1000, the company owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the New York Stock Exchange, equity options exchanges and OTC energy, credit and equity markets.
Sucden is a French-based commodity broker of soft commodities and other financial products headquartered in Paris. The firm started as a sugar broker and is now amongst the world leaders with a market share of around 15% in volume, or 9.5 million tonnes. It has offices in a number of countries around the world, including London and Hong Kong.
Armajaro Asset Management is a commodity investment firm based in London. The company specializes within the cocoa and coffee markets, managing investments in soft commodity hedge funds. Armajaro is run by Anthony Ward.
The New York Cocoa Exchange was a commodities exchange in New York City where futures contracts on cocoa were bought and sold. The exchange was located at 82 Beaver Street in Manhattan for most of its existence.
Cocoa Exchange may refer to:
Sir Henry Saxon Tate, 5th Baronet, was an English businessman particularly associated with the family sugar business Tate & Lyle, with the Industrial Development Board for Northern Ireland, and the London Futures and Options Exchange.
A clearing house is a financial institution formed to facilitate the exchange of payments, securities, or derivatives transactions. The clearing house stands between two clearing firms. Its purpose is to reduce the risk of a member firm failing to honor its trade settlement obligations.
This page is based on this Wikipedia article Text is available under the CC BY-SA 4.0 license; additional terms may apply. Images, videos and audio are available under their respective licenses.
