ICE Futures to Grade Brazilian Coffee - Analyst Blog
30 Aprile 2012 - 7:45PM
Zacks
According to media release, IntercontinentalExchange
Inc. (ICE) will start grading Brazilian arabica coffee by
ICE Futures U.S. from June this year. IntercontinentalExchange will
allow the Brazilian coffee to be traded at 900-point differential
under par. Back in December 2010, the company announced the
delivery of the coffee beans from the world's largest
coffee-producing country, Brazil.
The opportunity for delivering coffee "C" futures contracts will
come up in March next year. However, the issuance notices will
commence a month prior to the delivery.
In a separate development, IntercontinentalExchange recently
entered into an agreement with Cetip, S.A., to develop a brand new
platform for trading Brazilian corporate and government bonds.
Cetip is the top-rated clearing house in Brazil, besides being the
principal operator of registration and custodial services for
securities, fixed-income bonds and OTC derivatives. This fixed
income trading platform is expected to go live in the latter half
of this year.
Recently, ICE Futures Europe, the UK arm of
IntercontinentalExchange was selected by the UK Department of
Energy & Climate Change to carry out the aviation allowances
formalities and auctions for Phase III of the EU Emissions Trading
Scheme (EU ETS) on behalf of the UK Government.
These expansions are insync with the company’s long-term
strategy of gaining a significant foothold in the emerging
markets.
NYSE Euronext Inc. (NYX), a rival of
IntercontinentalExchange, recently announced the commencement of
repo futures market trading, in a bid to enhance its efficiency in
the US futures market starting July 16 this year. However, the
launch awaits requisite regulatory approvals.
We retain our long term Neutral recommendation on
IntercontinentalExchange. The quantitative Zacks #3 Rank
(short-term Hold rating) for the company indicates no clear
directional pressure on the stock over the near term.
INTERCONTINENTL (ICE): Free Stock Analysis Report
NYSE EURONEXT (NYX): Free Stock Analysis Report
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