API2 Rotterdam Coal Early (214 days) Single Expiry Option32419675

Description

The ICE Rotterdam Coal Single Expiry Options contract is an option on an underlying monthly expiry ICE Rotterdam Coal futures contract as appropriate. A quarterly single expiry option will expire equally into the three underlying months which make up that quarter. A calendar year single expiry option will expire equally into the twelve underlying months which make up that calendar year. For example, a 5 lot Q1 Rotterdam Coal single expiry option, if exercised, will result in 5 lots of each of a Jan, Feb , and Mar Rotterdam Coal futures contract. The quarterly single expiry option and the calendar year single expiry option both have separate but identical underlying futures contracts, which is identical to the ICE Rotterdam Coal Futures contract.

Market Specifications

Trading Screen Product Name
Rotterdam Coal Futures
Trading Screen Hub Name
ARA 1x Cal (214 days)
Commodity Code
AT2
Trading Hours
07:00 - 23:00, London time
Trading Model
Continuous trading throughout trading hours.
Unit of Trading
Any multiple of 1,000 tonnes of coal.
Quotation
US Dollars and cents per tonne
Strike Price Increments
Multiples of 5 US cent per tonne in a range of $10 - $150/tonne
Minimum Price Fluctuation
Screen: $0.01 per tonne.

EFP/EFS/Block: $0.01 per tonne
Maximum Price Fluctuation
No limits.
Daily Margin
All open contracts are marked-to-market daily.
Option Premium
Equity Style. Premiums are paid at the time of the transaction.
Trading Period
Calendar Year options: 2 consecutive years.
Last Trading Day
17:00 LLT 122/214/305 calendar days before the start of the contract period. If that day is a non-business day, expiry will be on the preceding business day.
Exercise and Automatic Exercise
Exercisable into ICE Rotterdam/Richards Bay/gC Newcastle Coal supporting futures, as appropriate. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Manual exercise/abandonment must be for the entire calendar year contract as appropriate.
Underlying Contract
ICE FUTURES ROTTERDAM COAL EARLY (214 DAYS) SINGLE EXPIRY FUTURE
MIC Code
IFEU
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York2:00 AM - 6:00 PM
02:00 - 18:00
1:45 AM
01:45
London7:00 AM - 11:00 PM
07:00 - 23:00
6:45 AM
06:45
Singapore2:00 PM - 6:00 AM
14:00 - 06:00
1:45 PM
13:45
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Codes

Clearing Admin Name
ICE Coal ARA
Physical
AT2
Logical
ATW
GMI(FC)
R&N A.C.N.