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Illinois Basin Coal Futures Contract Specs

Contract Unit 1,750 short tons
Price Quotation U.S. Dollars and Cents per Short Ton
Trading Hours CME Globex: 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)
CME ClearPort: 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)
Minimum Price Fluctuation $0.01 per short ton
Product Code CME Globex: ILB
CME ClearPort: ILB
Clearing: ILB
Listed Contracts Monthly for 30 consecutive months
Settlement Method Deliverable
Termination Of Trading Trading terminates on the fourth last business day of the month prior to the delivery month.
Settlement Procedures Physical
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 255
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Delivery Procedure Barge
Delivery Period The seller may not schedule delivery of coal earlier than the first calendar day and not later than a date such that there are a minimum of seven calendar days remaining in the delivery month. The seller may not complete delivery of coal later than the last calendar day of the delivery month.
Grade And Quality Please see Rulebook Chapter 255