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Coal Futures Contract Specs

Product Symbol QLD, Clearing: QL
Venue CME Globex, CME ClearPort and Open Outcry
Hours CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
Contract Size 1,550 tons
Price Quotation U.S. Dollars and Cents per ton
Minimum Fluctuation $0.01 per ton
Termination of Trading Trading terminates on the fourth last business day of the month prior to the delivery month.
Listed Contracts CME Globex: Monthly for 5 consecutive years
CME ClearPort and Open Outcry: Monthly for 5 consecutive years
Settlement Type Physical
Delivery Period The seller may not schedule delivery of coal earlier than the first calendar day and not later than a date such that there are a minimum of seven calendar days remaining in the delivery month.  The seller may not complete delivery of coal later than the last calendar day of the delivery month.
Grade and Quality Specifications Coal delivered under this contract shall meet the following quality specifications:
  • Btu: Minimum 12,000 btu/lb., gross calorific value, with an analysis tolerance of 250 btu/lb below (A.S.T.M. D1989);
  • Ash: Maximum 13.50%, with no analysis tolerance (A.S.T.M. D3174 or D5142);
  • Sulfur: Maximum 1.00%, with an analysis tolerance of 0.050% above (A.S.T.M. D4239);
  • Moisture: Maximum 10.00%, with no analysis tolerance (A.S.T.M. D3302 or D5142);
  • Volatile Matter: Minimum 30.00%, with no analysis tolerance (A.S.T.M. D5142 or D3175);
  • Grindability: Minimum 41 Hardgrove Index (HGI) with three-point analysis tolerance below. (A.S.T.M. D409);
  • Sizing: Three inches topsize, nominal, with maximum fifty five per cent passing one quarter inch square wire cloth sieve to be determined basis the primary cutter of the mechanical sampling system. (A.S.T.M. D4749).
The tests for Grindability and Sizing are at the buyer's option, with the buyer required to:
  • Direct its inspection company to collect whatever additional samples are necessary for these tests to be performed according to the specified A.S.T.M. guidelines. The buyer will bear any costs for additional sample collection.
  • Notify the seller whether the test is to be conducted pursuant to Rule 260.13(D)(1)(b).
Position Limits NYMEX Position Limits
Rulebook Chapter 260
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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