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ICE Futures Europe

API4 Richards Bay Coal Qtr 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 Richards Bay Coal futures contract. A quarterly single expiry option will expire equally into the three underlying months which make up that quarter. For example, a 5 lot Q1 Richard's Bay Coal single expiry option, if exercised, will result in 5 lots of each of a Jan, Feb, and Mar Richards Bay Coal futures contract.

Market Specifications

Trading Screen Product Name
Richards Bay Coal Futures
Trading Screen Hub Name
Richards Bay 1x Qtr (Futures-style)
Contract Symbol
RBD
Contract Series
12 consecutive quarters
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
RBD
Logical
RBD
GMI (FC)
OT
ION A.C.N.
Symbol Code
RBD