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ICE hopes to launch global cotton contract in Q1 2015

Reuters

DUBAI, Oct 2 (Reuters) - The IntercontinentalExchange plans to launch its global cotton futures contract in the first quarter of 2015, a senior executive said on Thursday.

The contract was set to be launched in the fourth quarter of 2014, but has been delayed due to a new system being considered by Malaysia for agricultural imports, said Tim Barry, vice president of product development for ICE Futures.

"We hope for the launch to be in first quarter of 2015 with first delivery in the months of May and July," he told a meeting of the International Cotton Association in Dubai, in the United Arab Emirates.

The Atlanta-based exchange had previously aimed to list the contract, the first alternative for merchants, mills and growers to pricing on ICE's U.S.-only one, in early 2014. (Reporting by Maha El Dahan; editing by Rania El Gamal and Jason Neely)