COAL (API 4) FOB RICHARDS BAY (ARGUS/MCCLOSKEY) FUTURE-STYLE MARGINED OPTION ON QUARTERLY FUTURES STRIPS - CONTRACT SPECS

Options
Contract Unit 1,000 metric tons
Clears in multiples of the number of contract months in the strip
Minimum Price Fluctuation 0.01 per metric ton x 3-month strip = $30.00
Price Quotation U.S. dollars and cents per metric ton
Trading Hours CME Globex: Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. – 5:00 p.m. CT
Product Code CME Globex: F4Q
CME ClearPort: F4Q
Clearing: F4Q
Listed Contracts Quarterly contracts (Jan, Apr, Jul, Oct) listed for 10 consecutive quarters
Termination Of Trading Trading terminates 30 calendar days prior to the first calendar day of the first month in the strip at 12:30 pm London Time. If such day is not a UK business day, trading terminates on the preceding UK business day.

Options are auto-exercised by the Exchange with reference to intraday prices published by the London Energy Brokers’ Association (LEBA) on the expiration day. Traders may submit contra-instructions up to 2:30 p.m. London time.
Exchange Rulebook NYMEX 1119
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Procedure Exercises into a quarterly strip of MFF futures
Settlement Method Deliverable
Underlying Qtr Strip of Coal (API4) fob Richards Bay (Argus/McCloskey) Fut-Style Combo