API8 CFR South China Coal Futures19118104

Description

A cash-settled monthly future based upon the price of coal delivered into Southern China. The contract is cash settled against the API 8 Index published in the Argus/McCloskey Coal Price Index Report.

Market Specifications

Trading Screen Product Name
CFR South China Coal Futures
Trading Screen Hub Name
CFR S China
Contract Series
Up to 72 consecutive months.
Expiration Date
Trading will cease at 17:00 on the day of expiry of the delivery month, quarter, season, or calendar as applicable.
Contract Security
ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Model
Continuous trading throughout trading hours
Trading Methods
Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading
1,000 metric tonnes of thermal coal
Contract Size
1,000 metric tonnes per contract month
Minimum Trading Size
1 lot = 1,000 metric tonnes
Minimum Block Order
5 lots = 5,000 metric tonnes
Quotation
The contract price is in US Dollars and in US Dollar Cents per tonne
Minimum Price Fluctuation
Five cents ($0.05) per tonne
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
Maximum Price Fluctuation
There are no limits.
Settlement Price
The weighted average price of trades during a ten-minute settlement period from 16:50:00 to 17:00:00, London Local Time. If there is low liquidity during this time, Quoted Settlement Prices (QSPs) will be used to establish the settlement price.
Position Limit
Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate.
Initial Margin
Calculated on all open contracts, initial margin is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin
All open contracts are 'marked-to-market' daily, with variation margin being called for as appropriate.
Delivery/Settlement Basis
The ICE CFR South China Coal Futures Contract is cash-settled at an amount equal to the monthly average API 8 Index as published in Argus/McCloskey's Coal Price Index Report.
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM
20:00 - 18:00
7:55 PM
19:55
London1:00 AM - 11:00 PM
01:00 - 23:00
12:55 AM
00:55
Singapore9:00 AM - 7:00 AM
09:00 - 07:00
8:55 AM
08:55
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Codes

Clearing Admin Name
Coal CFR SChina
Physical
CRF
Logical
CRF
GMI(FC)
R&N A.C.N.