LIFFE to allow bulk cocoa deliveries
THE London International Financial Futures and Options Exchange is to allow bulk delivery of cocoa against its cocoa futures contracts.
Other contract changes include a premium for high-quality cocoa, a one-day notice period for physical delivery and a test for consistency.
The changes will start in from the May 2000 contract which begins trading on 1 October this year.
Liffes trading limit of 10-tonnes has been in force since the 1930s. The decision will allow units of 100 tonnes and 1000 tonnes to be traded.
- Financial Times 22/09/98 page 32