- Trading Screen Product Name
- Central Appalachian Coal Futures
- Trading Screen Hub Name
- Central Appalachian
- Trading Period
50-61 consecutive months.
12-15 consecutive quarters.
Quarters are strips of three individual and consecutive contract
months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul-
Sep or Oct-Dec.
Half-years are strips of six individual and consecutive contract
months. Half-years always comprise a strip of Jan-Jun or
5-6 consecutive years.
Years are strips of twelve individual and consecutive contract
months comprising Jan - Dec.
Months, quarters, half-years, and calendars are listed in parallel.
Upon expiry of a December monthly contract an additional 12 months,
four quarters, two half-years, and one calendar year are added.
- Expiration Date
Trading will cease at the close of business on the 25th day of the
month prior to the contract month. If the 25th day is a
Non-Business Day, the contract shall expire on the business day
prior to the 25th.
- 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 Hours
London - 23:00 Sunday - 23:00 Monday
New York - 18:00 Sunday - 18:00 Monday
Chicago - 17:00 Sunday - 17:00 Monday
London - 01:00 - 23:00
New York - 20:00 - 18:00
Chicago - 19:00 - 17:00
- 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.
- Units of Trading
1,550 short tons of thermal coal
- Contract Size
1,550 short tons per contract month
- Minimum Trading Size
1 lot = 1,550 short tons
- Minimum Block Order
5 lots = 7,750 short tons
The contract price is in US Dollars and in US Dollar Cents per ton
- Minimum Price Flux
1 Dollar Cent per ton
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Maximum Price Flux
There are no limits.
- Settlement Price
The weighted average price of trades during a fifteen-minute
settlement period from 20:45:00 to 21:00:00, London Local Time. If
there is low liquidity during this time, Quoted Settlement Prices
(QSPs) will be used to establish the settlement price
- Position Limits
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.
- Cessation Of Trading
Close of business on the 25th day of the month prior to the contract month. If the 25th day is not a business day, the contract shall expire on the business day prior to the 25th.
- Delivery/Settlement Terms
The settlement price for each contract month will be equal to the
final monthly average for the corresponding month of the Platts
Daily OTC Assessments for CAPP barge OTC, which is published in
Platts Coal Trader in the table titled "Platts Daily OTC
Assessments Final Monthly Average (month)" in the first regular
issue following the last day of trading for the contract month.
- MIC Code
- Clearing Venue