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M42 (IHS McCloskey) Coal Futures71544091
ICE Futures Europe

M42 (IHS McCloskey) Coal Futures


Contracts are financially settled based upon the price of coal sold on an FOB Indonesia basis. The contract is cash settled against IHS McCloskey Indonesian (4,200 kc GAR) FOB marker (also known as the M42).

Market Specifications

Trading Screen Product Name
M42 Coal Futures
Trading Screen Hub Name
FOB Indonesian
Contract Symbol
Contract Size
1,000 metric tonnes.
Unit of Trading
Any multiple of lots
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.
The weighted average price of trades during a ten-minute settlement period from 16:05 to 16:15, 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 Terms
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
Clearing Venues

Trading Hours

New York8:00 PM - 6:00 PM*
20:00 - 18:00
7:55 PM
London1:00 AM - 11:00 PM*
01:00 - 23:00
12:55 AM
Singapore8:00 AM - 6:00 AM*
08:00 - 06:00
7:55 AM

*Next Day


Clearing Admin Name
Indo Sub-Bit
Symbol Code