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Description

The ICE Rotterdam Coal Single Expiry Options contract is an option on the underlying monthly expiry ICE Rotterdam 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 Rotterdam Coal single expiry option, if exercised, will result in 5 lots of each of the monthly Rotterdam Coal futures contracts for 2020.

Market Specifications

Trading Screen Product Name

Rotterdam Coal Futures

Trading Screen Hub Name

ARA 1x Cal (214 days Futures-style)

Contract Symbol

RDF

Contract Series

2 consecutive years

Unit of Trading

Any multiple of 1,000 metric tonnes

Minimum Trading Size

Options: 1 lot = 1,000 metric tonnes
Block Order: 5 lots = 5,000 metric tonnes

Price Quotation

The contract price is in US Dollars and in US Dollar Cents per tonne.

Minimum Price Fluctuation

One cent ($0.01) per metric tonne

Tick Value

Contract Size x Minimum Trade Size x Minimum Price Fluctuation

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

Last Trading Day

Trading will cease when the intraday reference price is set 214 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

Option Premium

Futures Style

Exercise Procedure

Expires into the ICE Rotterdam Coal Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money. At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.

Exchange Rulebook

ICE Futures Europe Contract Rules & Procedures

MIC Code

IFEU

Clearing Venues

ICEU

Related Products

• globalCOAL Newcastle Coal Futures
• API4 Richards Bay Coal Futures

Trading Hours

Codes