Feb 18 (Reuters) - ICE Futures U.S. said on Tuesday it will increase the reasonability limit for Coffee (C) futures contract to 375 points, effective with the start of trading for Wednesday, Feb. 19.
Under the exchange’s error policy, the reasonability limit (RL) for a product establishes a maximum range within which market orders may be executed, ICE said
Any residual volume on a market order that cannot be executed within the RL range will be canceled.
“With this change to the RL for Coffee (C) futures, the RL range will be $0.0375 per pound above/below the anchor price for the product,” the exchange operator said.
Arabica prices jumped almost 9 percent, gaining for a second straight day. Arabica has risen in eight of the 11 sessions in February, making it the CRB’s best performer year-to-date with a 40 percent gain.