- Trading Screen Product Name
- M42 Coal Futures
- Trading Screen Hub Name
- FOB Indonesian
- Commodity Code
M42
- Contract Size
1,000 metric tonnes.
- Unit of Trading
Any multiple of lots
- Quotation
The contract price is in US$ per metric tonne
- Minimum Price Fluctuation
5 Dollar Cents per tonne
- Last Trading Day
The month contracts cease trading at 17:00:00, London Local Time on
the last Friday of the contract delivery period. The quarters and
calendar years cease trading as a quarter/calendar year at the
close of business on the last Friday of the first month contract in
that quarter/calendar year.
- Settlement
The weighted average price of trades during a ten-minute settlement
period from 16:50:00 to 17:00:00, LLT. If there is low liquidity
during this time, Quoted Settlement Prices (QSPs) will be used to
establish the settlement price.
- Trading Period
Up to 48 consecutive months, 13 to 16 consecutive quarters and 3
consecutive calendar years
- Trading Methods
Electronic futures, Exchange for Physical (EFP), Exchange for Swap
(EFS) and Block Trades are available for this contract.
- Minimum Trading Size
1 lot = 1,000 metric tonnes
- Minimum Block Order
5 lots = 5,000 metric tonnes
- Contract Security
ICE Clear Europe acts as the central counterparty for trades
conducted on ICE Futures Europe.
- Position Limit
All positions in any contract month must be reported to the ICE
Futures Europe on a daily basis. The Exchange has powers to prevent
the development of excessive positions or unwarranted speculation
or any other undesirable situation and may take steps to resolve
such situations including the ability to mandate members to limit
the size of such positions or to reduce positions where
appropriate.
- Delivery/Settlement Basis
The M42 (IHS McCloskey) Coal Futures Contract is cash-settled at an
amount equal to the monthly average for IHS McCloskey Indonesian
(4,200 kc GAR) FOB marker (also known as the M42) published in the
McCloskey Fax.
- MIC Code
- IFEU
- Clearing Venues
- ICEU