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The International Cotton Association has set up a committee to design specifications for a futures contract that would rival Intercontinental Exchange Inc.’s U.S. benchmark, Reuters reported, citing unidentified members of the trade group.
A proposal for the contract may be ready in months, according to the report. Talks may be focused on starting cotton trading on a new exchange or expanding the ICE contract to allow for delivery in locations outside the U.S. Atlanta-based ICE may already be considering adding international delivery locations to its U.S. contract, Reuters said, citing unidentified merchants.
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