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Coal (API 4) fob Richards Bay (Argus/McCloskey) Short Dated Calendar Options Contract Specs

    Please see SER 7952 for amendments to expiry timing.

Options
Contract Unit 12 consecutive futures beginning with the underlying month of the option contract (each future 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: MFY
CME ClearPort: MFY
Clearing: MFY
Listed Contracts Annual contracts listed for 2 consecutive years
Termination Of Trading (FOR ALL CONTRACT MONTHS PRIOR TO APRIL 2018)
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 APRIL 2018 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 1114
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