"This is quite a positive occasion for our organization," said Scott Amoye, Chairman of the Cocoa Merchants' Association of America. "We're very happy to be so close to the heart of the cocoa industry in a new, high-tech grading and office facility. We'd like to thank all of our Members, the New York Board of Trade, and everyone else who helped us make this move possible. The CMAA is now in a wonderful position to continue to be an important part of the cocoa industry."
The Cocoa Merchants' Association of America is a trade organization founded in 1924 with the purpose of fostering the trade and welfare of the cocoa industry in the United States. It seeks to obtain for its members the benefits secured by friendly communication among those engaged in importing and trading in cocoa beans. Chocolate manufacturers, foreign merchants, weighers, bankers, steamship companies, warehouse operators, and port authorities all participate with the CMAA. The Association provides its members with publications and regular updates, arbitration facilities to settle disputes, daily publication of spot prices for cocoa beans and cocoa products, information gathering and an exchange center, representation with the Federal Government, and administration of a warehouse inspection program.
"We welcome the Cocoa Merchants' Association of America into our facilities," said Charles H. "Harry" Falk, President and CEO of NYBOT. "This will be the start of a productive new relationship in which both organizations can now work side by side to better serve the cocoa industry."
The NYBOT trades the benchmark cocoa contract at its trading floor at One North End Avenue, not far from its 39 Broadway location. NYBOT's cocoa futures and options contracts are traded from 8:00 am until 11:50 am (NY Time), and consists of 10 metric tons (22,046 pounds) of exchange-certified cocoa.
The CMAA's new address is:
Ms. Lori Trimarchi, Administrator
Cocoa Merchants' Association of America, Inc.
39 Broadway
New York, NY 10006
(212) 201-8819
www.cocoamerchants.com
The NYBOT opened its new coffee and cocoa grading facility in lower Manhattan in October 2003, a short distance from its new home in the World Financial Center. The $1.1 million, 1,800 square foot operation marks the final stage of NYBOT's return downtown to the Financial District, and allows the exchange to resume its position as the premier provider of coffee and cocoa grading. NYBOT also maintains some of its back office operations at the 39 Broadway site.
The New York Board of Trade (NYBOT) is the parent company of the Coffee, Sugar and Cocoa Exchange, Inc. (CSCE) and the New York Cotton Exchange (NYCE). Through its two exchanges, NYBOT offers an expanding range of agricultural and financial products. Information about the New York Board of Trade can be found at www.nybot.com and www.nybotlive.com.
