ICE Futures Europe

JKM LNG (Platts) Average Price Options

JKM LNG (Platts) Average Price Options71090519

Description

A European style option which at expiration references the Platts LNG Japan/Korea Marker (JKM)

Market Specifications

Trading Screen Product Name
LNG Futures
Trading Screen Hub Name
JKM
Commodity Code
JKM
Trading Hours
00:50 – 23:00 London time
Trading Model
Continuous trading throughout trading hours.
Unit of Trading
Any multiple of 10,000 MMBtu
Contract Size
10,000 MMBtu
Quotation
US Dollars and cents per MMBtu
Minimum Price Fluctuation
$0.005 per MMBtu
Option Premium / Daily Margin
All open contracts are marked-to-market daily. Futures style margining (not premium paid up-front)
Contract Series
Up to 24 consecutive months. Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip.
Strike Price Increments
This contract will support strike prices with increments of $0.10 within a range of $1 to $25. This range may be revised from time to time according to future price movements. The at-the-money strike price is the closest interval nearest to the previous business day's settlement price of the underlying contract
Last Trading Day
Trading shall cease at the close of business on the 15th calendar day of the calendar month prior to the contract month. If the 15th calendar day is not a business day then trading shall cease on the next 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.
Expiry
The 15th calendar day of the calendar month prior to the contract month. If the 15th calendar day is not a business day then expiry will be on the next preceding business day.

The reference price will be a price in USD and cents per MMBtu based on the average of the relevant quotations appearing in “Platts LNG Daily” under the heading "Platts daily LNG markers ($/MMBtu)” subheading “DES Japan/Korea Marker (JKM)" for “JKM (month)” for each business day (as specified below) in the determination period
Business Days
Publication days for Platts LNG Daily
MIC Code
IFEU
Clearing Venues
ICEU

Related Products

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

Codes

Clearing Admin Name
LNG JKM
Physical
JKM
Logical
JKM
GMI(FC)
R&N A.C.N.