MARKETS NEWS
ICE Streamlines Cotton Tender Process
Thu Mar 7, 2013 10:52 AM CST

NEW YORK (Dow Jones) -- IntercontinentalExchange Inc. plans to streamline the process by which cotton bales are made tenderable to its benchmark No. 2 futures contract by offering the option of having the fiber classed only once by the U.S. Department of Agriculture, eliminating a second exchange-administered classing.

The new process, referred to as "Smith Doxey Registration," would be offered in addition to the current Certified Classing process. A bale would be considered suitable for delivery on the ICE cotton contract as long as it has been classed under Smith Doxey within the six months prior to tendering it to ...

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