COAL (API4) FOB RICHARDS BAY (ARGUS-MCCLOSKEY) FUTURES - CONTRACT SPECS
| Contract Unit | 1,000 metric tons | ||||
| Price Quotation | U.S. dollars and cents per metric ton | ||||
| Trading Hours | Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) | ||||
| Minimum Price Fluctuation |
0.05 per metric ton = $50.00 Final settlement: 0.01 per metric ton = $10.00 |
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| Product Code | CME Globex: MFFCME ClearPort: MFFClearing: 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 | Trading terminates on the last Friday of the contract month. If the last Friday of the contract month is not a London business day, trading terminate on the prior London business day. | ||||
| 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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