Your browser is unsupported

Description

A European style option which at expiration references the Argus/McCloskey API 2 index for the relevant month and is exercised into Rotterdam Coal Futures (ATW)

Market Specifications

Trading Screen Product Name

Rotterdam Coal Futures

Trading Screen Hub Name

ARA APO (Futures-style)

Contract Symbol

RCA

Contract Series

Up to 48 consecutive months

Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip.

Contract Size

1,000 metric tonnes per contract month

Unit of Trading

Any multiple of 1,000 metric tonnes

Minimum Trading Size

Futures: 1 lot = 1,000 Allowances
Block Order: 5 lots = 5,000 Allowances

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 shall cease at 17:00 LLT on the last Friday of the delivery month. In the event of a public holiday on such Friday, trading shall cease at the close of business 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. Options will be automatically exercised on the expiry day if they are ‘In-The-Money’. If an option is ‘Out-of-The-Money’ it will expire automatically. It is not permitted to exercise the option on any other day or in any other circumstance. No manual exercise is permitted.

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