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Coal (API 4) fob Richards Bay (Argus/McCloskey) Future-Style Margined Option on Calendar Futures Strips Contract Specs

    Effective Sunday 9 July 2017 for trade date Monday 10 July2017, and pending all relevant regulatory review periods, please be advised that CBOT will launch Coal (API 4) fob Richards Bay (Argus/McCloskey) Future-Style Margined Options.

Options
Contract Unit 12 consecutive futures contract months beginning with the underlying contract month of the option (each contract month is 1,000 metric tons, 12,000 metric tons in total).
Minimum Price Fluctuation $0.01 per metric ton
Price Quotation U.S. Dollars and Cents per Metric Ton
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Product Code CME Globex: F4C
CME ClearPort: F4C
Clearing: F4C
Listed Contracts Annual contracts listed for 2 consecutive years
Termination Of Trading Trading terminates 30 calendar days prior to the first calendar day of the first month in the strip at 12:30 pm London Time. If such day is not a UK business day, trading terminates on the preceding UK business day.

Options are auto-exercised by the Exchange with reference to intraday prices published by the London Energy Brokers’ Association (LEBA) on the expiration day. Traders may submit contra-instructions up to 2:30 p.m. London time.
Exchange Rulebook NYMEX 1118
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Dynamic strikes only 
Exercise Style European
Settlement Method Deliverable
Underlying Cal Strip of Coal (API4) fob Richards Bay (Argus/McCloskey) Fut-Style Combo