- Trading Screen Product Name
- Richards Bay Coal Options (Futures Style Margin)
- Trading Screen Hub Name
- Richards Bay (Futures-style)
- Contract Symbol
AFO
- 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
1 lot = 1,000 metric tonnes
- Price Quotation
The contract price is in US Dollars and in US Dollar Cents per
tonne.
- Minimum Price Fluctuation
1 dollar cent 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. For example, on 30 November 2012 both the January 2013,
Quarter 1 2013, and Calendar Year 2013 contracts will expire.
- 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