CME Group

Coal Options

With futures-style Coal options on NYMEX, you can trade the Coal options you know on the marketplace you trust.

Futures-Style Margin
Equity-Style Margin

Futures-Style Margin

Clearing	Globex	ClearPort	Product Name	Cleared As
F4C	F4C	F4C	Coal (API 4) fob Richards Bay (Argus/McCloskey) Future-Style Margined Option on Calendar Futures Strips	Options
F2Q	F2Q	F2Q	Coal (API 2) cif ARA (Argus/McCloskey) Future-Style Margined Option on Quarterly Futures Strips	Options
F4Q	F4Q	F4Q	Coal (API 4) fob Richards Bay (Argus/McCloskey) Future-Style Margined Option on Quarterly Futures Strips	Options
F2C	F2C	F2C	Coal (API 2) cif ARA (Argus/McCloskey) Future-Style Margined Option on Calendar Futures Strips	Options

Trade Date: 21 Jul 2017 | FINAL

SER-7935 - Initial Listing of Four (4) Coal Option Contracts with Future-Style Margining (PDF)

Exercise Process

Option Ceases Trading	12:30 p.m. London Time Trading terminates 30 calendar days prior to the first calendar day of the Contract Month. If such day is not a UK business day, trading terminates on the first preceding UK business day.	7:30 a.m. Eastern Time (ET)
Auto-exercise Prices	Around 1:00 p.m. London Time The Intraday prices provided by the London Energy Brokers’ Association (‘LEBA’) are received. Those prices are used in the auto-exercise process.	8:00 a.m. ET
Contra Instructions	2:30 p.m. London Time Contra-instructions can be submitted to your Clearer up to 2:30 p.m.	9:30 a.m. ET
Exercise / Assignment process	2:30 p.m. London Time All options are exercised/ assigned based upon the LEBA intraday prices and any contra-instructions received. All options that are “In-the-money” are auto-exercised (considering any contra-instructions). The CME Positions and Expiration Report is made available. View a list of contrary instructions.	9:30 a.m. ET

Equity-Style Margin

Clearing	Globex	ClearPort	Product Name	Cleared As	Open Interest
CLA	CLB	CLA	Coal (API 2) cif ARA (Argus/McCloskey) Calendar Option	Options	5,418
CQA	CQA	CQA	Coal (API 2) cif ARA (Argus/McCloskey) Quarterly Option	Options	20
RLA	RLA	RLA	Coal (API 4) fob Richards Bay (Argus/McCloskey) Calendar Option	Options	0
RQA	RQA	RQA	Coal (API 4) fob Richards Bay (Argus/McCloskey) Quarterly Option	Options	0

Trade Date: 21 Jul 2017 | FINAL

NB: All equity style margins from Cal 19 and Q2 18 will have the earlier exercise time of 12.30am (UK time)

SER-7952 - Amendments to Option Exercise and Termination of Trading Rules of Six (6) Coal Option Contracts

Exercise Process

Option Ceases Trading	5:00 p.m. London Time Trading terminates 30 calendar days prior to the first calendar day of the first month in the strip. If such day is not a UK business day, trading terminates on the first preceding UK business day.	12:00 p.m. Eastern Time (ET)
Auto-exercise Prices	Around 5:30 p.m. London Time All options that are “In-the-money” are auto-exercised by the Exchange with reference to end-of-day prices published by the London Energy Brokers’ Association (‘LEBA’) on the expiration day.	12:30 p.m. ET
Contra Instructions	6:00 p.m. London Time (or 15 minutes after LEBA data is published) All contra-instructions can be submitted to your Clearer up to 6:00 p.m.	1:00 p.m. ET
Exercise / Assignment process	6:00 p.m. London Time (or 15 minutes after LEBA data is published) All options are exercised/ assigned based upon the LEBA intraday prices and any contra-instructions received. All options that are “In-the-money” are auto-exercised (considering any contra-instructions). The CME Positions and Expiration Report is made available. View a list of contrary instructions.	1:00 p.m. ET

Option Ceases Trading

5:00 p.m. London Time

Trading terminates 30 calendar days prior to the first calendar day of the first month in the strip. If such day is not a UK business day, trading terminates on the first preceding UK business day.

12:00 p.m. Eastern Time (ET)

Auto-exercise Prices

Around 5:30 p.m. London Time

All options that are “In-the-money” are auto-exercised by the Exchange with reference to end-of-day prices published by the London Energy Brokers’ Association (‘LEBA’) on the expiration day.

12:30 p.m. ET

Contra Instructions

6:00 p.m. London Time (or 15 minutes after LEBA data is published)

All contra-instructions can be submitted to your Clearer up to 6:00 p.m.

1:00 p.m. ET

Exercise / Assignment process

6:00 p.m. London Time (or 15 minutes after LEBA data is published)

All options are exercised/ assigned based upon the LEBA intraday prices and any contra-instructions received. All options that are “In-the-money” are auto-exercised (considering any contra-instructions).

The CME Positions and Expiration Report is made available.

View a list of contrary instructions.

1:00 p.m. ET

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