- Trading Screen Product Name
- FOB Indo sub-bit Coal Futures
- Trading Screen Hub Name
- FOB Indonesian
- Trading Period
61-72 consecutive month contracts.
21-24 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.
6 consecutive years.
Years are strips of twelve individual and consecutive contract
months comprising Jan - Dec.
Months, quarters, seasons, and calendars are listed in parallel.
Upon expiry of a December monthly contract an additional 12 months,
four quarters, and one calendar year are added.
- 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 sub-bituminous 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 tons
The contract price is in US Dollars and in US Dollar Cents per
- Minimum Price Fluctuation
5 Dollar Cents 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.
- Cessation Of Trading
The month contracts cease trading at 17:00:00, London Local Time on
the last Friday of the contract delivery period. The quarters and
calendar years cease trading as a quarter/calendar year at the
close of business on the last Friday of the first month contract in
that quarter/calendar year.
- Delivery/Settlement Terms
The ICE FOB Indo sub-bit Coal Contract is cash-settled at an amount
equal to the arithmetic average, for the corresponding month, of
the IHS McCloskey Indonesian Sub-Bituminous FOB marker as published
in IHS McCloskey Coal Report, IHS McCloskey Fax and IHS McCloskey
Newswire. The cash-settlement price will be to 2 decimal places,
- MIC Code
- Clearing Venues