ICE Coal futures

From MarketsWiki
Jump to: navigation, search
ICE wiki logo.jpg

ICE lists coal futures for delivery in several locations throughout the world, including:

  • Rotterdam (The Netherlands) - Contracts are financially settled based on delivery to Rotterdam in the Netherlands. The product is cash settled against API 2 as published in the Argus/McCloskey Coal Price Index Report.
  • Richards Bay South Africa) - Contracts are financially settled based upon the price of coal loaded at the Richards Bay Coal Terminal in South Africa. The contract is cash settled against the API 4 Index published in the Argus/McCloskey Coal Price Index Report.
  • Newcastle (Australia) - Contracts are financially settled based upon the price of coal loaded at the Newcastle Coal Terminal in Australia. The contract is cash settled against the globalCOAL Weekly NEWC Index.
  • CFR (South China) - The contract is cash settled against the API 8 Index published in the Argus/McCloskey Coal Price Index Report.
  • CSX (U.S) - Contracts are financially settled based upon the price of coal delivered via the Eastern Rail network from the Central Appalachain mining region. The contract is cash settled against the monthly average for the corresponding month of the Platts CAPP Rail (CSX) OTC assessment published in Platts Coal Trader.
  • Central Appalachian (U.S.) - Contracts are financially settled based upon the price of coal loaded at the Central Appalachian mining region. The contract is cash settled against the monthly average for the corresponding month of the Platts CAPP Barge OTC assessment published in Platts Coal Trader.

Contracts are traded on the ICE Platform or by the Exchange of Futures for Physicals, Exchange of Futures for Swaps or Block trades.

The first contracts launched on July 17, 2006.

Contract Specifications

Rotterdam & Richards Bay Coal futures
Exchange ICE
Settlement Cash settled
Contract Size 1000 metric tons of thermal coal
Pricing Unit U.S. Dollars and cents per ton
Tick Value 5 cents
Contract Months Up to 84 consecutive month contracts.

25 to 28 consecutive quarters. Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.

6 consecutive seasons. Seasons are strips of six individual and consecutive contract months. Seasons always comprise a strip of Apr-Sep or Oct-Mar.

6 consecutive years. Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.

Months, quarters, seasons and years are listed in parallel. Upon expiry of a December monthly contract an additional 12 months, four quarters, two seasons, and one calendar year are added.

Last Trading Day Trading will cease at the close of business on the last Friday of the delivery month, quarter, season, or calendar year as applicable. (Rotterdam, Richards Bay, CFR); 25th day of the month prior to the contract month. If the 25th day is a Non-Business Day, the contract shall expire on the business day prior to the 25th. (CSX, Central Appalachian).
Note: This contract is electronic ONLY -- no open outcry
  No Open Outcry Electronic
Trading Hours N/A New York: 2:00 AM - 6:00 PM,02:00 - 18:00
Ticker Symbol N/A ATW (Rotterdam), AFR (Richards Bay), CRF (CFR South China), UCA (Central Appalachian), UCX (CSX)
Price Limits N/A There are no limits.

Notes