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ICE Futures Europe

API2 Rotterdam Coal Options (Futures Style Margin)

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Description

The ICE Rotterdam Coal Options contract is an option on the ICE Rotterdam Coal Futures contract. At expiry, one lot of Rotterdam Coal Options will exercise into one lot of Rotterdam Coal Futures. Rotterdam Coal Options are European-style, such that In-The-Money options, unless abandoned, are automatically exercised at expiry. At-The-Money and Out-of-The-Money options will expire un-exercised unless the Member has elected to exercise them.

Market Specifications

Trading Screen Product Name
Rotterdam Coal Futures
Trading Screen Hub Name
ARA (Futures-style)
Contract Symbol
RCO
Contract Series
Up to 60 consecutive months

Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. For example, a Q1 option is an option on Jan, an option on Feb, and an option on Mar, with each option expiring thirty calendar days before the start of the relevant contract month.
Contract Size
1,000 metric tonnes per contract month
Unit of Trading
1,000 metric tonnes of thermal coal
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
5 Cents ($0.05) per 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, expiry will be on the preceding business day.
Option Style
European Style.
Option Premium
Futures Style
Exercise Procedure
Expires into the ICE Rotterdam 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
London1:00 AM - 11:00 PM*
01:00 - 23:00
12:55 AM
00:55
Singapore8:00 AM - 6:00 AM*
08:00 - 06:00
7:55 AM
07:55

*Next Day

Codes

Clearing Admin Name
O-ICE Coal ARA
Physical
RCO
Logical
RCO
GMI (FC)
KB
ION A.C.N.
Symbol Code
RCO