IRON ORE 62% FE (PLATTS IODEX) FUTURE11203345

Description

A monthly cash settled Iron Ore future based on the Platts IODEX 62% Fe daily index.

Market Specifications

Trading Screen Product Name
Iron Ore 62% Fe Futures (Platts IODEX)
Trading Screen Hub Name
CFR North China
Contract Symbol
IOR
Contract Size
1,000 dry metric tonnes
Units of Trading
Any multiple of 1,000 dry metric tonnes
Currency
US Dollars and cents
Trading Price
One cent ($ 0.01) per dry metric tonne
Settlement Price
One tenth of one cent ($0.001) per dry metric tonne
Minimum Price Fluctuation
One tenth of one cent ($0.001) per dry metric tonne
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement Price
In respect of final settlement, the Floating Price will be a price in USD and cents per dry metric tonne based on the average of the relevant High/Low daily quotations published by Platts within their real-time data service “Platts Metal Alert” (PMA) under the heading ”IODEX: 62% Fe CFR North China" subheading "IODEX 62% Fe" for each business day during the determination period.

If a Singapore public holiday should fall on what would otherwise be the final monthly publication day, the final day's quotation will be published on PMA on the last business day immediately prior to the holiday at 20.00 Singapore time (12.00 GMT).

Final Settlement Time: The final published price by Platts will be made available from 20.00 Singapore time (12:00 GMT) on the last business day of the calendar month. If a Singapore public holiday should fall on what would otherwise be a business day, the publication of the final quotation will be published on PMA on the last business day immediately prior to the Singapore holiday at 20.00 Singapore time (12.00 GMT).
Contract Series
Up to 48 consecutive months
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Singapore business days
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM
08:50 - 07:00
8:40 AM
08:40
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Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Metals Ferrous
Physical
IOR
Logical
IOR
GMI(FC)
R&N A.C.N.