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Coal (API 4) fob Richards Bay (Argus/McCloskey) Calendar Option Contract Specs

    Please see SER 7952 for amendments to expiry timing.

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 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: RLA
CME ClearPort: RLA
Clearing: RLA
Listed Contracts Annual contracts listed for 2 consecutive years.
Termination Of Trading (FOR ALL CONTRACT MONTHS PRIOR TO JANUARY 2019)
Trading terminates 30 calendar days prior to the first calendar day of the first month in the strip at 5:00 pm London Time. If such day is not a UK business day, trading terminates on the preceding UK business day.

Options will be auto-exercised by the Exchange with reference to end of day prices published by the London Energy Brokers’ Association (‘LEBA’) on the expiration day. Contra-instructions may be submitted up to 6:00 pm London time, or 15 minutes after the publication of the LEBA reference price, whichever is later.

(FOR ALL CONTRACT MONTHS COMMENCING WITH JANUARY 2019 AND BEYOND)
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 pm London time.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 918
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Settlement Method Deliverable
Underlying Coal (API4) FOB Richards Bay (ARGUS-McCloskey) Futures