Coffee, Sugar and Cocoa Exchange - CSCE

What Was the Coffee, Sugar and Cocoa Exchange?

The Coffee, Sugar and Cocoa Exchange (CS&CE) was a commodities exchange laid out in September 1979 to work with commodity futures trading. The exchange had its foundations in the Coffee Exchange, which was laid out in New York City in 1882. The Coffee Exchange added trading in sugar in 1914 and merged with the Cocoa Exchange in 1979.

The Coffee, Sugar and Cocoa Exchange merged with New York Cotton Exchange in June 2004, with the combined entity then, at that point, known as the New York Board of Trade (NYBOT). The merged entity was in this manner bought by the Intercontinental Exchange (ICE) in 2007; starting around 2020, it is known as ICE Futures U.S. The two futures and options are actively traded there.

Understanding Coffee, Sugar and Cocoa Exchange

The Coffee Exchange of the City of New York was laid out so merchants could safeguard themselves against changes in the price of Brazilian Arabica coffee. Its foundation in 1882 followed the supposed "coffee crash" of 1881, in which several companies tried and, unfortunately, failed to corner the market on coffee.

The development of beet sugar in Germany in the late nineteenth century decreased Europe's reliance on sugar stick production from the Americas and forcefully increased consumption. Be that as it may, the flare-up of World War I in 1914 disturbed the supply of sugar in Europe and closed the related financial markets where the price was hedged. This prompted the beginning of sugar trade on the Coffee Exchange that year.

The New York Cocoa Exchange was laid out in 1925 and was the world's most memorable cocoa futures market. Its beginnings followed the quick growth in cocoa and chocolate consumption in the mid twentieth century. The exchange merged with the New York Coffee and Sugar Exchange in 1979 to form the Coffee, Sugar, and Cocoa Exchange. The CS&CE merged with the New York Cotton Exchange in June 2004 to form the New York Board of Trade (NYBOT). ICE bought NYBOT in 2007.

Special Considerations

The "open outcry" system of commodities trading, which highlighted traders hollering across a crowded room, was supplanted by completely electronic trading as of Oct. 22, 2012. The CS&CE exchange and its trading floor were highlighted in the well known 1983 film "Trading Places," which featured Dan Ackroyd and Eddie Murphy.

The Intercontinental Exchange

The Intercontinental Exchange, known as ICE, started in 2000 as an electronic platform for trading energy futures and options. It claims stock, commodities, futures and options exchanges in the United States, Europe, Canada, and Singapore. ICE bought the New York Stock Exchange in 2012 for $8.2 billion. The ICE presently clutches and controls the leftovers of the CS&CE.

Features

• The CS&CE is popular for its location being utilized in the hit 1980s satire "Trading Places".
• The Coffee, Sugar, and Cocoa Exchange (CS&CE) was a New-York based commodities futures exchange laid out in 1979, yet with its underlying foundations dating back to the nineteenth century.
• The CS&CE hence went through several mergers, and isn't a part of the Intercontinental Exchange's ICE Futures division.