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Indonesian Coal (McCloskey sub-bituminous) Futures Contract Specs

Contract Unit 1,000 metric tons
Price Quotation Prices shall be quoted in U.S. dollars and cents per metric ton
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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)
Minimum Price Fluctuation The minimum price fluctuation shall be $0.05 (5¢) per metric ton. The minimum final settlement is $0.01 per metric ton.
Product Code CME Globex: MCC
CME ClearPort: MCC
Clearing: MCC
Listed Contracts Monthly contracts for the current year plus next two full calendar years.
Settlement Method Financially Settled
Floating Price The floating price for each contract month is the arithmetic mean of the Indonesian sub-bituminous FOB Marker (4,900 kcal/metric ton net as received, maximum 1% sulfur) indexes for the corresponding month as published each Friday in the McCloskey Coalfax in the table entitled "McCloskey Key Market Prices".
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. Notwithstanding the above, if New Year's Day is a Friday, the immediately preceding December contract month shall terminate on the last business day of the contract month.
Settlement Procedures 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
Exchange Rulebook NYMEX 294
Block Minimum Block Minimum Thresholds
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