Coal (API4) FOB Richards Bay (ARGUS-McCloskey) 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. - 5:00 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	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: MFF CME ClearPort: MFF Clearing: MFF
Listed Contracts	Monthly contracts listed for the current year and the next 4 calendar years. List monthly contracts for a new calendar year following the termination of trading in the December contract of the current year.
Settlement Method	Financially Settled
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. 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 928
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing

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