ICE API4 Richards Bay Coal

Contracts are financially settled based upon the price of coal loaded at the Richards Bay Coal Terminal in South Africa. The contract is cash settled against the API 4 Index published in the Argus/McCloskey Coal Price Index Report.
API4 Richards Bay Coal Futures	API4 Richards Bay Coal Futures 	API4 Richards Bay Coal Futures 	API4 Richards Bay Coal Futures
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay 	Richards Bay 	Richards Bay
Trading Period 	Up to 84 consecutive month contracts.
25-28 consecutive quarters.
Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.
6 consecutive seasons.
Seasons are strips of six individual and consecutive contract months. Seasons always comprise a strip of Apr-Sep or Oct-Mar.
6 consecutive years.
Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.
Months, quarters, seasons, and calendars are listed in parallel. Upon expiry of a December monthly contract an additional 12 months, four quarters, and one calendar year are added.	Up to 84 consecutive month contracts.
25-28 consecutive quarters.
Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.
6 consecutive seasons.
Seasons are strips of six individual and consecutive contract months. Seasons always comprise a strip of Apr-Sep or Oct-Mar.
6 consecutive years.
Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.
Months, quarters, seasons, and calendars are listed in parallel. Upon expiry of a December monthly contract an additional 12 months, four quarters, and one calendar year are added.	Up to 84 consecutive month contracts.
25-28 consecutive quarters.
Quarters are strips of three individual and consecutive contract months. Quarters always comprise a strip of Jan-Mar, Apr-Jun, Jul- Sep or Oct-Dec.
6 consecutive seasons.
Seasons are strips of six individual and consecutive contract months. Seasons always comprise a strip of Apr-Sep or Oct-Mar.
6 consecutive years.
Years are strips of twelve individual and consecutive contract months comprising Jan - Dec.
Months, quarters, seasons, and calendars are listed in parallel. Upon expiry of a December monthly contract an additional 12 months, four quarters, and one calendar year are added.
Expiration Date 	Trading will cease at 17:00 on the day of expiry of the delivery month, quarter, season, or calendar as applicable. 	Trading will cease at 17:00 on the day of expiry of the delivery month, quarter, season, or calendar as applicable. 	Trading will cease at 17:00 on the day of expiry of the delivery month, quarter, season, or calendar as applicable.
Contract Security 	ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Model 	Continuous trading throughout trading hours 	Continuous trading throughout trading hours 	Continuous trading throughout trading hours
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1,000 metric tonnes of thermal coal 	1,000 metric tonnes of thermal coal 	1,000 metric tonnes of thermal coal
Contract Size 	1,000 metric tonnes per contract month 	1,000 metric tonnes per contract month 	1,000 metric tonnes per contract month
Minimum Trading Size 	1 lot = 1,000 metric tonnes 	1 lot = 1,000 metric tonnes 	1 lot = 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Quotation 	The contract price is in US Dollars and in US Dollar Cents per tonne 	The contract price is in US Dollars and in US Dollar Cents per tonne 	The contract price is in US Dollars and in US Dollar Cents per tonne
Minimum Price Fluctuation 	5 Dollar Cents per tonne 	5 Dollar Cents per tonne 	5 Dollar Cents per tonne
Tick Value 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux 	Contract Size x Minimum Trade Size x Minimum Price Flux
Maximum Price Fluctuation 	There are no limits. 	There are no limits. 	There are no limits.
Settlement Price 	The weighted average price of trades during a ten-minute settlement period from 16:50:00 to 17:00:00, London Local Time. If there is low liquidity during this time, Quoted Settlement Prices (QSPs) will be used to establish the settlement price. 	The weighted average price of trades during a ten-minute settlement period from 16:50:00 to 17:00:00, London Local Time. If there is low liquidity during this time, Quoted Settlement Prices (QSPs) will be used to establish the settlement price. 	The weighted average price of trades during a ten-minute settlement period from 16:50:00 to 17:00:00, London Local Time. If there is low liquidity during this time, Quoted Settlement Prices (QSPs) will be used to establish the settlement price.
Position Limit 	Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate.	Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate.
Initial Margin 	Calculated on all open contracts, initial margin is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest. 	Calculated on all open contracts, initial margin is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest. 	Calculated on all open contracts, initial margin is a deposit held by ICE Clear Europe in order to cover the costs that may be incurred in closing out a position in default. It is returned upon the closing of the position, or at expiry, with interest.
Daily Margin 	All open contracts are 'marked-to-market' daily, with variation margin being called for as appropriate. 	All open contracts are 'marked-to-market' daily, with variation margin being called for as appropriate. 	All open contracts are 'marked-to-market' daily, with variation margin being called for as appropriate.
Delivery/Settlement Terms 	The ICE Richards Bay Coal Futures Contract is cash-settled at an amount equal to the monthly average API 4 Index as published in Argus/McCloskey's Coal Price Index Report. 	The ICE Richards Bay Coal Futures Contract is cash-settled at an amount equal to the monthly average API 4 Index as published in Argus/McCloskey's Coal Price Index Report. 	The ICE Richards Bay Coal Futures Contract is cash-settled at an amount equal to the monthly average API 4 Index as published in Argus/McCloskey's Coal Price Index Report.
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	AFR 	AFR
Codes 	Logical 	AFR 	AFR
Codes 	GMI (FC) 	PL 	PL
Codes 	ION A.C.N. 	NN90 	NN90
API4 Richards Bay Coal Options (Futures Style Margin)	API4 Richards Bay Coal Options (Futures Style Margin) 	API4 Richards Bay Coal Options (Futures Style Margin) 	API4 Richards Bay Coal Options (Futures Style Margin)
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay (Futures-style) 	Richards Bay (Futures-style) 	Richards Bay (Futures-style)
Contract Symbol 	AFO 	AFO 	AFO
Hedge Instrument 	ICE Richard's Bay Coal Futures contract. 	ICE Richard's Bay Coal Futures contract. 	ICE Richard's Bay Coal Futures contract.
Trading Period 	Up to 60 consecutive months
Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. For example, a Q1 option is an option on Jan, an option on Feb, and an option on Mar, with each option expiring thirty calendar days before the start of the relevant contract month. 	Up to 60 consecutive months
Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. For example, a Q1 option is an option on Jan, an option on Feb, and an option on Mar, with each option expiring thirty calendar days before the start of the relevant contract month. 	Up to 60 consecutive months
Quarterly, seasonal, calendar, and any period of consecutive monthly contracts can be registered as a strip. For example, a Q1 option is an option on Jan, an option on Feb, and an option on Mar, with each option expiring thirty calendar days before the start of the relevant contract month.
Expiration Date 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, expiry will be on the preceding business day. For example, on 30 November 2012 both the January 2013, Quarter 1 2013, and Calendar Year 2013 contracts will expire. 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, expiry will be on the preceding business day. For example, on 30 November 2012 both the January 2013, Quarter 1 2013, and Calendar Year 2013 contracts will expire. 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, expiry will be on the preceding business day. For example, on 30 November 2012 both the January 2013, Quarter 1 2013, and Calendar Year 2013 contracts will expire.
Contract Security 	ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement. 	ICE Clear Europe acts as central counterparty to all trades thereby guaranteeing the financial performance of ICE Futures Europe contracts registered in the name of its Members up to and including delivery, exercise and/or settlement.
Trading Model 	Continuous trading throughout trading hours 	Continuous trading throughout trading hours 	Continuous trading throughout trading hours
Trading Methods 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract. 	Electronic futures, Exchange for Physical (EFP), Exchange for Swap (EFS) and Block Trades are available for this contract.
Unit of Trading 	1,000 metric tonnes of thermal coal 	1,000 metric tonnes of thermal coal 	1,000 metric tonnes of thermal coal
Minimum Trading Size 	1 lot = 1,000 metric tonnes 	1 lot = 1,000 metric tonnes 	1 lot = 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Quotation 	The contract price is in US Dollars and in US Dollar Cents per tonne 	The contract price is in US Dollars and in US Dollar Cents per tonne 	The contract price is in US Dollars and in US Dollar Cents per tonne
Strike Price Increments 	Strike range of $10-$150 per tonne. Multiples of $.05 per tonne. 	Strike range of $10-$150 per tonne. Multiples of $.05 per tonne. 	Strike range of $10-$150 per tonne. Multiples of $.05 per tonne.
Minimum Price Fluctuation 	1 dollar cent per tonne 	1 dollar cent per tonne 	1 dollar cent per tonne
Minimum Tick 	$0.01 per tonne. 	$0.01 per tonne. 	$0.01 per tonne.
Maximum Price Fluctuation 	There are no limits. 	There are no limits. 	There are no limits.
Position Limit 	Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate. 	Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate. 	Positions are reported to the Exchange on a daily basis. The Exchange has powers to prevent the development of excessive positions or unwarranted speculation or any other undesirable situation and may take steps to resolve such situations including the ability to mandate members to limit the size of such positions or to reduce positions where appropriate.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Exercise 	Expires into the ICE Richard's Bay Coal Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money. At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into the ICE Richard's Bay Coal Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money. At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	Expires into the ICE Richard's Bay Coal Futures contract with European-style exercise. If the option is not abandoned, automatic exercise will occur for options which are one or more ticks in the money. At-The-Money and Out-of-The-Money options will expire worthless. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	AFO 	AFO
Codes 	Logical 	AFO 	AFO
Codes 	GMI (FC) 	KH 	KH
Codes 	ION A.C.N. 	None 	None
API4 Richards Bay Coal Cal 1x Options (Futures Style Margin)	API4 Richards Bay Coal Cal 1x Options (Futures Style Margin) 	API4 Richards Bay Coal Cal 1x Options (Futures Style Margin) 	API4 Richards Bay Coal Cal 1x Options (Futures Style Margin)
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay 1x Cal (Futures-style) 	Richards Bay 1x Cal (Futures-style) 	Richards Bay 1x Cal (Futures-style)
Contract Symbol 	RBC 	RBC 	RBC
Hedge Instrument 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Unit of Trading 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Quotation 	The contract price is in US Dollars and in US Dollar Cents per tonne 	The contract price is in US Dollars and in US Dollar Cents per tonne 	The contract price is in US Dollars and in US Dollar Cents per tonne
Minimum Price Fluctuation 	1 dollar cent per tonne 	1 dollar cent per tonne 	1 dollar cent per tonne
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT , thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT , thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT , thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style 	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Strike Price Increments 	Strike range of $10-$150 per tonne. Multiples of $.05 per tonne. 	Strike range of $10-$150 per tonne. Multiples of $.05 per tonne. 	Strike range of $10-$150 per tonne. Multiples of $.05 per tonne.
Contract Series 	4 consecutive years 	4 consecutive years 	4 consecutive years
Business Days 	UK Business days 	UK Business days 	UK Business days
Trading Hours 	01:00-23:00 London time 	01:00-23:00 London time 	01:00-23:00 London time
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	RBC 	RBC
Codes 	Logical 	RBC 	RBC
Codes 	GMI (FC) 	OS 	OS
Codes 	ION A.C.N. 	None 	None
API4 Richards Bay Coal Early (122 days) Single Expiry Options (Futures Style Margin)	API4 Richards Bay Coal Early (122 days) Single Expiry Options (Futures Style Margin) 	API4 Richards Bay Coal Early (122 days) Single Expiry Options (Futures Style Margin) 	API4 Richards Bay Coal Early (122 days) Single Expiry Options (Futures Style Margin)
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay 1x Cal (122 days Futures-style) 	Richards Bay 1x Cal (122 days Futures-style) 	Richards Bay 1x Cal (122 days Futures-style)
Contract Symbol 	RBE 	RBE 	RBE
Hedge Instrument 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Unit of Trading 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Quotation 	Dollars per tonne 	Dollars per tonne 	Dollars per tonne
Minimum Price Fluctuation 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style 	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Strike Price Increments 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150
Contract Series 	2 consecutive years 	2 consecutive years 	2 consecutive years
Business Days 	UK Business days 	UK Business days 	UK Business days
Trading Hours 	01:00-23:00 London time 	01:00-23:00 London time 	01:00-23:00 London time
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	RBE 	RBE
Codes 	Logical 	RBE 	RBE
Codes 	GMI (FC) 	OU 	OU
Codes 	ION A.C.N. 	None 	None
API4 Richards Bay Coal Early (214 days) Single Expiry Options (Futures Style Margin)	API4 Richards Bay Coal Early (214 days) Single Expiry Options (Futures Style Margin) 	API4 Richards Bay Coal Early (214 days) Single Expiry Options (Futures Style Margin) 	API4 Richards Bay Coal Early (214 days) Single Expiry Options (Futures Style Margin)
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay 1x Cal (214 days Futures-style) 	Richards Bay 1x Cal (214 days Futures-style) 	Richards Bay 1x Cal (214 days Futures-style)
Contract Symbol 	RBF 	RBF 	RBF
Hedge Instrument 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Unit of Trading 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Quotation 	Dollars per tonne 	Dollars per tonne 	Dollars per tonne
Minimum Price Fluctuation 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, 214 calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, 214 calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, 214 calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style 	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Strike Price Increments 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150
Contract Series 	2 consecutive years 	2 consecutive years 	2 consecutive years
Business Days 	UK Business days 	UK Business days 	UK Business days
Trading Hours 	01:00-23:00 London time 	01:00-23:00 London time 	01:00-23:00 London time
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	RBF 	RBF
Codes 	Logical 	RBF 	RBF
Codes 	GMI (FC) 	OV 	OV
Codes 	ION A.C.N. 	None 	None
API4 Richards Bay Coal Early (305 days) Single Expiry Options (Futures Style Margin)	API4 Richards Bay Coal Early (305 days) Single Expiry Options (Futures Style Margin) 	API4 Richards Bay Coal Early (305 days) Single Expiry Options (Futures Style Margin) 	API4 Richards Bay Coal Early (305 days) Single Expiry Options (Futures Style Margin)
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay 1x Cal (305 days Futures-style) 	Richards Bay 1x Cal (305 days Futures-style) 	Richards Bay 1x Cal (305 days Futures-style)
Contract Symbol 	RBG 	RBG 	RBG
Hedge Instrument 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Unit of Trading 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Quotation 	Dollars per tonne 	Dollars per tonne 	Dollars per tonne
Minimum Price Fluctuation 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, 305 calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, 305 calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, 305 calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style 	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Strike Price Increments 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150
Contract Series 	2 consecutive years 	2 consecutive years 	2 consecutive years
Business Days 	UK Business days 	UK Business days 	UK Business days
Trading Hours 	01:00-23:00 London time 	01:00-23:00 London time 	01:00-23:00 London time
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	RBG 	RBG
Codes 	Logical 	RBG 	RBG
Codes 	GMI (FC) 	OW 	OW
Codes 	ION A.C.N. 	None 	None
API4 Richards Bay Coal Qtr 1x Options (Futures Style Margin)	API4 Richards Bay Coal Qtr 1x Options (Futures Style Margin) 	API4 Richards Bay Coal Qtr 1x Options (Futures Style Margin) 	API4 Richards Bay Coal Qtr 1x Options (Futures Style Margin)
Trading Screen Product Name 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Trading Screen Hub Name 	Richards Bay 1x Qtr (Futures-style) 	Richards Bay 1x Qtr (Futures-style) 	Richards Bay 1x Qtr (Futures-style)
Contract Symbol 	RBD 	RBD 	RBD
Hedge Instrument 	Richards Bay Coal Futures 	Richards Bay Coal Futures 	Richards Bay Coal Futures
Unit of Trading 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes 	Any multiple of 1,000 metric tonnes
Minimum Block Order 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes 	5 lots = 5,000 metric tonnes
Currency 	US Dollars and cents 	US Dollars and cents 	US Dollars and cents
Quotation 	Dollars per tonne 	Dollars per tonne 	Dollars per tonne
Minimum Price Fluctuation 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne 	One cent ($0.01) per metric tonne
Last Trading Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day 	Trading will cease when the intraday reference price is set, 12:50 - 13:00 LLT, thirty calendar days before the start of the contract period. If that day is a non-business day, trading will cease on the preceding Business Day
Option Style 	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.	European style options, exercisable into AFR. If the option is not abandoned, automatic exercise would occur for options which are in the money. Options at-the-money and out-of-the-money will expire unless the holder has manually elected to exercise. Members will have up to one hour after cessation of trading on the option expiry day to manually abandon or exercise an option.
Option Premium 	Futures Style 	Futures Style 	Futures Style
Strike Price Increments 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150 	$0.05 increments from $10 to $150
Contract Series 	12 consecutive quarters 	12 consecutive quarters 	12 consecutive quarters
Business Days 	UK Business days 	UK Business days 	UK Business days
Trading Hours 	01:00-23:00 London time 	01:00-23:00 London time 	01:00-23:00 London time
MIC Code 	IFEU 	IFEU 	IFEU
Clearing Venues 	ICEU 	ICEU 	ICEU
Trading Hours 	CITY 	TRADING 	PRE-OPEN
Trading Hours 	NEW YORK 	8:00 PM - 6:00 PM*
20:00 - 18:00 	7:55 PM
19:55
Trading Hours 	LONDON 	1:00 AM - 11:00 PM*
01:00 - 23:00 	12:55 AM
00:55
Trading Hours 	SINGAPORE 	9:00 AM - 7:00 AM*
09:00 - 07:00 	8:55 AM
08:55
Trading Hours 	*Next Day 	*Next Day 	*Next Day
Codes 	Clearing Admin Name 	ICE Coal Rbay 	ICE Coal Rbay
Codes 	Physical 	RBD 	RBD
Codes 	Logical 	RBD 	RBD
Codes 	GMI (FC) 	OT 	OT
Codes 	ION A.C.N. 	None 	None
== Notes ==
==References==
==Resources==
ICE API4 Richards Bay Coal Product Specs
ICE API4 Richards Bay Coal Options Product Spec
Category:Sponsored Pages
Category:Sponsored Pages - ICE
Category:Reserved Pages
Category:Reserved Pages - ICE
Category:Coal Futures Contracts
Category:Futures Contracts Traded on ICE
Category:Energy Futures Contracts
Category:Futures Data in Template