IntercontinentalExchange announces IBA collaboration with Meridia Land B.V.

Intercontinental Exchange announced that ICE Benchmark Administration, or IBA, is collaborating with Meridia Land B.V, an agricultural technology company specializing in the verification of farm origin and supply chain data, to launch the ICE Commodity Traceability service. ICE CoT is a technology platform designed to maintain the frictionless trade of physical cocoa and coffee by supporting these industries’ compliance with the European Union’s Deforestation Regulation. Europe is the largest market for cocoa and coffee worldwide. ICE CoT aims to automate the process of submitting, storing, and validating the information necessary for cocoa and coffee operators and traders to ensure and demonstrate compliance of their products with the regulation. ICE CoT is aimed at supporting all commercial trade affected by the EUDR.