Nobody knows about TAS orders at ICE?
It stands for "Trade at Settlement" and you are guaranteed to get filled at the settlement price if you enter your order before settlement time. Cocoa settlement occurs at 11:50am New York time (to coincide with London Cocoa I guess).
And I'm not sure how valid it is to say that business is being lost to OTC. Looking at aggregate commercial hedger's growth in open interest historically to present day I would say it is still being used extensively and going strong.
It stands for "Trade at Settlement" and you are guaranteed to get filled at the settlement price if you enter your order before settlement time. Cocoa settlement occurs at 11:50am New York time (to coincide with London Cocoa I guess).
And I'm not sure how valid it is to say that business is being lost to OTC. Looking at aggregate commercial hedger's growth in open interest historically to present day I would say it is still being used extensively and going strong.