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Coal (API4) FOB Richards Bay (ARGUS-McCloskey) Futures
 
 
Coal (API4) FOB Richards Bay (ARGUS-McCloskey) Futures
Product Symbol MFF
Venue CME ClearPort, Open Outcry (New York)

Hours

(All Times are New York Time/ET)

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 Unit 1,000 metric tons
Price Quotation Prices shall be quoted in U.S. dollars and cents per metric ton
Minimum Fluctuation The minimum price fluctuation shall be $0.05 (5¢) per metric ton. The minimum final settlement is $0.01 per metric ton.
Floating Price The Floating Price for each contract month shall be equal to the (API 4) fob Richards Bay Monthly Coal Price Index published in the Argus/McCloskey’s Coal Price Index Report (ie being the average of weekly prices during the contract month).
Termination of Trading The contract shall terminate at the close of trading on the last Friday of the contract month. If such Friday is a UK holiday, the contract will terminate on the UK business day immediately prior to the last Friday of the contract month unless such day is not an Exchange business day, in which case the contract shall terminate on the Exchange business day immediately prior.
Listed Contracts Current year plus the next four years. A new calendar year will be added following the termination of trading in the December contract of the current year.
Settlement Type Financial
Final Settlement Delivery under the contract shall be by cash settlement. Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month.
Position Limits NYMEX Position Limits
Rulebook Chapter 928
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.
 
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