A Challenging Year Ahead for the ICA and the cotton Industry

摘要

What happened in the ICE Futures market toward the end of February and the beginning of March 2008 was so unprecedented in the history of the cotton market that it could never have been anticipated. The merchant community was hit hard by the demands of excessive margin calls implemented by the ICE exchange on March 5. The carnage that followed that fateful day was catastrophic; many merchants who had relied on a futures market for security as a hedging tool found themselves no longer having the confidence, or the resources, to continue doing so.