About a-team Marketing Services

A-Team Insight Briefs

ICE Subsidiary IBA Partners with Space Intelligence to Launch Commodity Traceability Platform

Subscribe to our newsletter

ICE Benchmark Administration Limited (IBA), a subsidiary of Intercontinental Exchange, Inc., is collaborating with Space Intelligence, a nature mapping data provider, to introduce the ICE Commodity Traceability Service (ICE CoT). This is a new technology platform designed to streamline the trade of physical cocoa and coffee by automating the submission, storage, validation, and sharing of due diligence information required under the European Union’s Deforestation Regulation (EUDR). The EUDR aims to minimise the EU’s contribution to global deforestation by ensuring that specified goods entering or sold in the EU are “deforestation-free” and lawfully produced. Given that Europe is the largest market for cocoa and coffee globally, the regulation has significant implications for supply chains.

The partnership will see Space Intelligence’s geospatial mapping integrated into ICE CoT, identifying areas in cocoa and coffee-producing countries that have been deforested since December 31, 2020, and are ineligible for EUDR-compliant production. This data will be combined with ICE CoT’s farm and physical flow validation methods, leveraging geolocation and traceability information to support compliance across the supply chain.

The platform’s pilot phase began in June 2024, focusing on the validation of cocoa and coffee farm geolocation data to allow companies to upload farm plot coordinates and conduct a series of validation checks on the data. IBA also plans to pilot the validation of physical flow data, including the movement, merging, or splitting of cocoa and coffee parcels along the supply chain, alongside lawful production data.

IBA aims to launch ICE CoT by the end of 2024, subject to further testing, system and data availability, and any regulatory requirements.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Best approaches for trade and transaction reporting

Compliance practitioners and technology leaders in capital markets face mounting pressure to ensure that reporting processes are efficient, accurate, and aligned with global standards. Market developments and jurisdictional nuances in regulatory frameworks like MiFID II, EMIR, SFTR and MAS create a continual challenge for compliance teams. This webinar brings together senior RegTech executives and seasoned...

BLOG

Chainlink Brings 24/5 U.S. Equities Data Onchain, Targeting Always-On Equity Markets

Chainlink, the blockchain technology company, has launched 24/5 U.S. Equities Streams, a new market-data service designed to support continuous, onchain trading of U.S. stocks and ETFs beyond standard market hours. The service provides sub-second equity pricing across regular, pre-market, post-market and overnight sessions, addressing a longstanding structural mismatch between always-on blockchain-based markets and time-bound U.S....

EVENT

TradingTech Summit London

Now in its 15th year the TradingTech Summit London brings together the European trading technology capital markets industry and examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Regulatory Data Handbook – Fourth Edition

Need to know all the essentials about the regulations impacting data management? Welcome to the Fourth edition of our A-Team Regulatory Data Handbook which provides all the essentials about regulations impacting data management. A-Team’s series of Regulatory Data Handbooks are a great way to see at-a-glance: All the regulations that are impacting data management today A...