Commodities
ICE Rebuffs Request to Introduce Price Limits on Cocoa Futures
- One cocoa trader called for the change, another supported it
- ICE argued limits would make it harder to liquidate positions
A farmer sifts through cocoa beans at a farm in Offoumpo, Ivory Coast.
Photographer: Issouf Sanogo/AFP/Getty ImagesThis article is for subscribers only.
Intercontinental Exchange Inc. refused a request to introduce daily price limits on cocoa after futures surged this year, according to people familiar with the matter.
In a meeting with traders, the exchange argued such limits — commonplace in cotton and grain markets — would make it harder to liquidate positions if needed, said the people, who asked not to be identified discussing private talks. Most participants agreed, the people said.