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JKM LNG (Platts) Half Month Futures71544090
ICE Futures Europe

JKM LNG (Platts) Half Month Futures

Description

A cash settled daily futures contract based on the Platts daily assessment price for the LNG Japan/Korea Marker (JKM).

Market Specifications

Trading Screen Product Name
LNG Futures (half month)
Trading Screen Hub Name
JKM
Contract Symbol
JKH
Trading Period
Up to 2 consecutive months (4 half months), or as otherwise determined by the Exchange. The First Half-Month contracts (H1) start on the first calendar day of the month and end on the fifteenth calendar day of the month. The Second Half-Month contracts (H2) start on the sixteenth calendar day of the month and end on last calendar day of the month
Contract Size
10,000 MMBtu
Unit of Trading
Any multiple of 10,000 MMBTUs
Currency
US Dollars and cents
Trading Price
One tenth of one cent ($0.001) per MMBtu
Settlement Price
One tenth of one cent ($0.001) per MMBtu
Minimum Price Fluctuation
One tenth of one cent ($0.001) per MMBtu
Last Trading Day
Trading in a First Half-Month contracts (H1) shall cease on the fifteenth calendar day of the calendar month prior to the Half-Month contract. If the fifteenth calendar day is not a business day then trading shall cease on the next preceding business day. For example the last trading day of the First Half-Month contract (H1) of September 2018 is 15 August 2018. Trading in a Second Half-Month contracts (H2) shall cease on the last day of the calendar month prior to the Half-Month contract. If the last day of the calendar month is not a business day then trading shall cease on the next preceding business day. For example the last trading day of the Second Half-Month contract (H2) of July 2018 is 29 June 2018.
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products
Final Settlement
In respect of final settlement of the First Half-Month (H1) contract, the Floating Price will be a price in USD and cents per MMBtu equal to the average of the relevant quotations appearing in “Platts LNG Daily” under respectively the heading "Platts daily LNG markers ($/MMBtu)” subheading “DES Japan/Korea Marker (JKM)" for “H1 (month)” for each business day (as specified below) between the first and the fifteenth day of the previous calendar month. For example, in respect of final settlement the Floating Price of the First (H1) contract of September 2018 is equal to the average of the relevant quotations appearing in “Platts LNG Daily” between 1 August 2018 and 15 August 2018. In respect of final settlement of the Second Half-Month (H2) contract, the Floating Price will be a price in USD and cents per MMBtu equal to the average of the relevant quotations appearing in “Platts LNG Daily” under respectively the heading "Platts daily LNG markers ($/MMBtu)” subheading “DES Japan/Korea Marker (JKM)" for “H2 (month)” for each business day (as specified below) between the sixteenth and the last day of the previous calendar month. For example, in respect of final settlement the Floating Price of the Second (H2) contract of July 2018 is equal to the average of the relevant quotations appearing in “Platts LNG Daily” between 16 June 2018 and 30 June 2018.
Final Payment Date
Two Clearing House Business Days following the Last Trading Day
Business Days
Publication days for Platts LNG Daily
MIC Code
IFEU
Clearing Venues
ICEU

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
Singapore7:50 AM - 6:00 AM
07:50 - 06:00
7:40 AM
07:40

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
LNG JKM Daily
Physical
JKH
Logical
JKH
GMI (FC)
8P
Symbol Code
JKH