ICE sugar, coffee and cocoa market opens to be delayed in March
NEW YORK Feb 14 (Reuters) - Raw sugar, coffee and cocoa contracts trading on ICE will open an hour later than usual for a two-week period in March, due to differing time changes in the United States and United Kingdom, ICE Futures U.S. said on Thursday.
Effective March 11 through March 29, the exchange will implement temporary changes to the open times for sugar No. 11, arabica coffee "C" and cocoa futures and options, it said in a notice.
The temporary change is because the United States will start daylight-saving time on March 10 while British summertime will not begin until March 31, ICE stated.
During this time, sugar markets will open at 3:30 a.m. New York time (0730 GMT), instead of 2:30 a.m. Coffee will begin trade at 4:30 a.m., rather than the usual 3:30 a.m., and cocoa at 5 a.m. instead of 4 a.m., the notice stated.
For this period only, the daily settlement window for cocoa futures will be from 12:48-12:50 p.m., one hour later than usual.
- U.S. pledges 3,000 troops to fight Ebola; experts say more needed
- Tesla prevails in top Massachusetts court over direct sales
- Russia needs government investment to avoid recession, says former finance minister
- Ukraine ratifies EU deal, offers special status to rebels
- Ahead of independence vote, Britain pledges state funding to Scotland |