globalCOAL Newcastle Coal Qtr 1x Option4244514

Description

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 Rotterdam Coal Futures contract.

Market Specifications

Trading Screen Product Name
Newcastle Coal Futures
Trading Screen Hub Name
Newcastle 1x Qtr
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).
Quotation
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
12 consecutive options
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.
Exercise and Automatic Exercise
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
GC NEWCASTLE COAL (SUPPORTING QTR 1X OPTION)
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 Newc
Physical
NCQ
Logical
NCF
GMI(FC)
INCQ
R&N A.C.N.