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ICE Futures U.S.(sm), a wholly-owned subsidiary of IntercontinentalExchange (NYSE: ICE), announced today effective with the start of trading on Friday, December 14, the exchange is implementing Trade At Settlement ("TAS") capability in the ICE electronic trading system for Cotton No. 2 and FCOJ-A futures contract months.
Orders to buy or sell a futures contract at the settlement price can be submitted at the start of the pre-open period for the respective product through the end of the futures contract settlement window each day. For Cotton, the pre-open begins at 8:00 p.m. ET the prior calendar day and the settlement window is 2:14 p.m. to 2:15 p.m. ET. For FCOJ-A, the pre-open begins at 6:45 a.m. ET and the settlement window is 1:29 p.m. to 1:30 p.m. ET.
TAS orders will be matched on a first-in, first-out basis. Once matched, each TAS transaction will receive a trade price equal to the daily settlement price for the respective futures contract month, as determined and published by the exchange.
TAS capability will be added for other ICE Futures U.S. products in the near future.
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 contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including canola, 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 Europe(sm), its London-based futures exchange, 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 equity index markets through its U.S. futures exchange, ICE Futures U.S.(sm), which provides global futures and options markets, as well as clearing services through ICE Clear U.S.(sm) In August 2007, ICE acquired the Winnipeg Commodity Exchange Inc., the leading agricultural futures exchange in Canada. 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 and the S&P 500 Index in September 2007. Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Dublin, Houston, London, New York, Singapore and Winnipeg. For more information, please visit www.theice.com.
