globalCOAL Newcastle Coal Average Price Option57250516

Description

A European style option which at expiration references the globalCOAL Newcastle Index for the relevant month and is exercised into gC Newcastle Coal Futures

Market Specifications

Trading Screen Product Name
Newcastle Coal Futures
Trading Screen Hub Name
Newcastle APO
Commodity Code
NCA
Hedge Instrument
gC Newcastle 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 globalCoal Newcastle 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 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
NCA
Logical
NCA
GMI(FC)
R&N A.C.N.