ICE Futures Europe

globalCOAL Newcastle Coal Cal 1x Options

globalCOAL Newcastle Coal Cal 1x Options4244513


The ICE gC Newcastle Coal Single Expiry Options contract is an option on an underlying monthly expiry ICE gcC Newcastle 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 gC Newcastle Coal single expiry option, if exercised, will result in 5 lots of each of a Jan, Feb , and Mar Newcastle 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 gC Newcastle Coal Futures contract

Market Specifications

Trading Screen Product Name
Newcastle Coal Futures
Trading Screen Hub Name
Newcastle 1x Cal
Trading Model
Continuous trading throughout trading hours.
Unit of Trading
Any multiple of 1,000 tonnes of coal.
Minimum Block Order
5 lots = 5,000 metric tonnes

5 lots aggregated over the strip with a reporting time of 15 minutes (For example, 1 lot of the yearly strip is equal to 12 monthly lots and is eligible for blocking. Similarly, 1 quarterly strip equals 3 monthly lots and does not meet the block minimum).
Dollars 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 / Daily Margin
Equity Style. Premiums are paid at the time of the transaction.
Trading Period
4 consecutive years.
Position Limit
No limits to the size of position.
Cessation Of Trading
17:00 LLT thirty 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. For example, on 2 December 2011 both the Quarter 1, 2012 and the Calendar Year 2012 contracts will expire.
Exercisable into ICE gC Newcastle coal 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.
Underlying Contract
MIC Code
Clearing Venues

Trading Hours

New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:55 PM
London1:00 AM - 11:00 PM*
01:00 - 23:00
12:55 AM
Singapore8:00 AM - 6:00 AM*
08:00 - 06:00
7:55 AM

*Next Day


Clearing Admin Name
Coal Newc
R&N A.C.N.