API2 Rotterdam Coal Average Price Option57250515

Description

A European style option which at expiration references the Argus/McCloskey API 2 index for the relevant month and is exercised into Rotterdam Coal Futures (ATW)

Market Specifications

Trading Screen Product Name
Rotterdam Coal Futures
Trading Screen Hub Name
ARA APO
Commodity Code
ATA
Hedge Instrument
Rotterdam Coal Futures
Contract Size
1,000 metric tonnes
Unit of Trading
Any multiple of 1,000 metric tonnes
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per metric tonne
Settlement Price Quotation
One cent ($0.01) per metric tonne
Minimum Price Fluctuation
One cent ($0.01) per metric tonne
Last Trading Day
Trading shall cease at the close of business on the last Friday of the delivery month. In the event of a public holiday on such Friday, trading shall cease at the close of business on the preceding Business Day.
Option Style
Options are European style and will be automatically exercised on the expiry day if they are ‘in the money’. If an option is ‘out of the money’ it will expire automatically. It is not permitted to exercise the option on any other day or in any other circumstance. No manual exercise is permitted.
Option Premium / Daily Margin
Option Premium
Expiry
The last Friday of the delivery month. In the event of a public holiday on such Friday, the expiry will be on the preceding Business Day. The reference price will be a price in USD and cents per metric tonne, equal to the Argus/McCloskey API2 Index for the relevant contract month.
Strike Price Increments
$0.05 increments from $10 to $150
Contract Series
Up to 48 consecutive months, 12 quarters and 4 calendar years
Final Payment Date
One Clearing House Business Days following the Last Trading Day
Business Days
UK Business days
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
ATA
Logical
ATA
GMI(FC)
R&N A.C.N.