ICE Markets Expiry Calendar

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ICE Futures Europe

globalCOAL Newcastle Coal Cal 1x Options (Futures Style Margin)

Description

The ICE gC Newcastle Coal Single Expiry Options contract is an option on the underlying monthly expiry ICE gC Newcastle Coal futures contract. A calendar year single expiry option will expire equally into the twelve underlying months which make up that calendar year. For example, a 5 lot Cal-20 gC Newcastle Coal single expiry option, if exercised, will result in 5 lots of each of the monthly gC Newcastle Coal futures contracts for 2020.

Market Specifications

Trading Screen Product Name: Newcastle Coal Futures
Trading Screen Hub Name: Newcastle 1x Cal (Futures-style)
Contract Symbol: NWC
Hedge Instrument: gC Newcastle Coal Futures
Unit of Trading: Any multiple of 1,000 metric tonnes
Minimum Block Order: 5 lots = 5,000 metric tonnes
Currency: US Dollars and cents
Quotation: Dollars per tonne
Minimum Price Fluctuation: One cent ($0.01) per metric tonne
Last Trading Day: Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style: European style options, exercisable into NCF. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium: Futures Style
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
Contract Series: 4 consecutive years
Business Days: UK Business days
Trading Hours: 01:00-23:00 London time
MIC Code: IFEU
Clearing Venues: ICEU

Trading Hours

City	Trading	Pre-Open
New York	8:00 PM - 6:00 PM* 20:00 - 18:00	7:55 PM 19:55
London	1:00 AM - 11:00 PM* 01:00 - 23:00	12:55 AM 00:55
Singapore	8:00 AM - 6:00 AM* 08:00 - 06:00	7:55 AM 07:55

*Next Day

Codes

Clearing Admin Name: O-Coal Newc
Physical: NWC
Logical: NWC

GMI (FC): OX
Symbol Code: NWC

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