- Trading Screen Product Name
- Illinois Basin Coal Futures
- Trading Screen Hub Name
- Illinois Basin
- Commodity Code
- Trading Period
The Exchange may list up:
Up to 60 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.
9-11 half-years. Half-years are strips of six individual and
consecutive contract months. Half-years always comprise a strip of
Jan-Jun or Jul-Dec. 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
- Unit of Trading
Short tons of thermal coal
- Contract Size
1,000 short tons per contract month
- Minimum Trading Size
1 lot = 1,000 short tons
- Minimum Block Order
5 lots = 5,000 short tons
The contract price is in USD and in US Dollar Cents per ton
- Minimum Price Fluctuation
1Dollar Cent per ton
- 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 fifteen minute
settlement window from 2:15:00 to 2:30:00, New York Local Time.. If
there is low liquidity during the settlement window, Quoted
Settlement Prices (QSPs) will be used to establish the settlement
- 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 call for as appropriate
- Delivery/Settlement Basis
The settlement price for each contract month will be equal to the
final monthly average of the corresponding month of the Platts
Daily 11,800 Illinois Basin Assessments, 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 Venues