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ICE Futures Europe

API4 Richards Bay Coal Cal 1x Options (Futures Style Margin)

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Description

The ICE Richards Bay Coal Single Expiry Options contract is an option on the underlying monthly expiry ICE Richard's Bay Coal futures contract. 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 Cal-20 Richards Bay Coal single expiry option, if exercised, will result in 5 lots of each of the monthly Richards Bay Coal futures contracts for 2020.

Market Specifications

Trading Screen Product Name
Richards Bay Coal Futures
Trading Screen Hub Name
Richards Bay 1x Cal (Futures-style)
Contract Symbol
RBC
Contract Series
4 consecutive years
Contract Size
1,000 metric tonnes per contract month
Unit of Trading
Any multiple of 1,000 metric tonnes
Minimum Trading Size
Options: 1 lot = 1,000 metric tonnes
Block Order: 5 lots = 5,000 metric tonnes
Price Quotation
The contract price is in US Dollars and in US Dollar Cents per tonne.
Minimum Price Fluctuation
One cent ($0.01) per metric tonne
Tick Value
Contract Size x Minimum Trade Size x Minimum Price Fluctuation
Strike Price Increments
A minimum of 5 strike prices in increments of $0.05 above and below the at-the-money Strike Price. Strike Price boundaries are adjusted according to futures price movements. IFEU may add one or more strike prices nearest to the last price listed as necessary
Last Trading Day
Trading will cease when the intraday reference price is set thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day.
Option Style
European Style
Option Premium
Futures Style
Exercise Procedure
Expires into the ICE Richard's Bay Coal Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money. At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Exchange Rulebook
MIC Code
IFEU
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:55 PM
19:55
London12:00 AM - 10:00 PM*
00:00 - 22:00
11:55 PM
23:55
Singapore8:00 AM - 6:00 AM*
08:00 - 06:00
7:55 AM
07:55

*Next Day

Codes

Clearing Admin Name
O-ICE Coal Rbay
Physical
RBC
Logical
RBC
GMI (FC)
OS
ION A.C.N.
Symbol Code
RBC