ICE Robusta Coffee Futures

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Robusta Coffee Futures
Trading Screen Product Name Robusta Coffee Future
Trading Screen Hub Name ICEU
Contract Symbol RC
Contract Size Ten Tonnes
Price Quotation £ per metric tonne
Contract Series January, March, May, July, September, November, such that ten delivery months are available for trading
Minimum Price Fluctuation $1 per tonne ($10)
Settlement Physical Delivery
Delivery Locations Delivered in an Exchange Nominated Warehouse in Europe or the U.S.A.
Grade/Standards/Quality Class 1 Robusta Coffee deliverable at Contract price. Other qualities deliverable at set premiums and discounts.
Daily Price Limit None
Deliverable Origins Robusta Coffee from any Origin that is freely available for export to any destination
First Notice Day Fourth business day preceding the first business day of the delivery month.
Last Trading Day Fourth business day preceding the last business day of the delivery month at 12:30.
Last Notice Day Fourth business day preceding the last business day of the delivery month.
Delivery Limit Delivery limits for IFEU Softs can be found here.[1]
Markers TAS (Trade at Settlement)[2]
MIC Code IFLX
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 4:00 AM - 12:30 PM

04:00 - 12:30

8:00 PM

20:00

LONDON 9:00 AM - 5:30 PM

09:00 - 17:30

1:00 AM

01:00

SINGAPORE 5:00 PM - 1:30 AM

17:00 - 01:30

9:00 AM

09:00

Codes Clearing Admin Name Robusta
Physical RC
Logical RC
GMI (FC) RC
ION A.C.N. None
Robusta Coffee Options
Trading Screen Product Name Robusta Coffee Future
Trading Screen Hub Name ICEU
Contract Symbol RC
Contract Size One Robusta Coffee futures contract
Price Quotation $ per tonne
Contract Series January, March, May, July, September, November such that ten expiry months are available for trading. The first expiry month for this Contract is November 2008.
Minimum Price Fluctuation $1 per tonne ($10)
Exercise American style
Daily Price Limit None
Strike Price Intervals $25 per tonne up to $1,000 $50 per tonne from $1,001 and above
Expiration Date 12:30 on the third Wednesday of the calendar month preceding the expiry month
MIC Code IFLX
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 4:00 AM - 12:30 PM

04:00 - 12:30

None
LONDON 9:00 AM - 5:30 PM

09:00 - 17:30

None
SINGAPORE 5:00 PM - 1:30 AM

17:00 - 01:30

None
Codes Clearing Admin Name Robusta
Physical RC
Logical RC
GMI (FC) RC
ION A.C.N. None
Robusta Coffee 1-Month Calendar Spread Options
Trading Screen Product Name Robusta Coffee 1-Month CSO
Trading Screen Hub Name ICEU
Contract Symbol RC1 (one-month series)

Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.

For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.

Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.

Contract Size A spread position between the two Robusta Coffee Futures contracts
Price Quotation £ per tonne
Contract Series January, March, May, July, September, November.

1-month series: Each of the first nine listed futures months paired with consecutive listed months.

Minimum Price Fluctuation £1 per tonne (£10)
Daily Price Limit None
Exercise American Style
Strike Price Intervals 5-tick intervals (£5 per tonne)
Last Trading Day Each CSO contract expires at 12:30 PM on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option.
Call Option Buyer of a CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Put Option Buyer of a CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Strike Price The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).
MIC Code IFLX
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 4:00 AM - 12:30 PM

04:00 - 12:30

8:00 PM

20:00

LONDON 9:00 AM - 5:30 PM

09:00 - 17:30

1:00 AM

01:00

SINGAPORE 5:00 PM - 1:30 AM

17:00 - 01:30

9:00 AM

09:00

Codes Clearing Admin Name Robusta
Physical RC1
Logical RC1
GMI (FC) C1
ION A.C.N. None
Robusta Coffee 2-Month Calendar Spread Options
Trading Screen Product Name Robusta Coffee 2-Month CSO
Trading Screen Hub Name ICEU
Contract Symbol RC2 (two-month series)

Determining the two futures contracts in a CSO pair requires knowing both the underlying futures contract and the length of the spread. For Robusta Coffee CSOs, the first two characters of the contract code are RC and the last character indicates the length of the spread.

For example, Contract Symbol “RC1”, the “1” indicates that the second month in the spread pair is ONE month forward from the front month of the pair. If the month symbol is K18 (May 2018), the Contract Symbol “RC1” implies that the second month in the pair is N18 (July 2018) – one contract month forward from the K18.

Likewise, Contract Symbol “RC2”, would imply that the second month in the pair is U18 (September 2018) – two contract months forward from the K18.

Contract Size A spread position between the two Robusta Coffee Futures contracts
Price Quotation £ per tonne
Contract Series January, March, May, July, September, November.

2-month series: Each of the first eight listed futures months paired with the second month forward from that month.

Minimum Price Fluctuation £1 per tonne (£10)
Daily Price Limit None
Exercise American Style
Strike Price Intervals 5-tick intervals (£5 per tonne)
Last Trading Day Each CSO contract expires at 12:30 PM on the last trading day of the regular option on the earlier of the two contract months in the spread pair; for example, all CSO contracts for which the March 2018 future is the front month of the pair will expire on the last trading day of the March 2018 regular option.
Call Option Buyer of a CSO Call Option has the right to establish a spread position of long the first month in the spread pair and short the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Put Option Buyer of a CSO Put Option has the right to establish a spread position of short the first month in the spread pair and long the second month in the pair, at a price difference equal to the Strike Price of the CSO contract.
Strike Price The Strike Price of an CSO contract can be positive (indicating the price of the front month is above the price of the back month in the pair), negative (indicating the price of the front month is below the price of the back month in the pair) or zero (indicating the prices of the two months in the pair are the same).
MIC Code IFLX
Clearing Venues ICEU
Trading Hours CITY TRADING PRE-OPEN
NEW YORK 4:00 AM - 12:30 PM

04:00 - 12:30

8:00 PM

20:00

LONDON 9:00 AM - 5:30 PM

09:00 - 17:30

1:00 AM

01:00

SINGAPORE 5:00 PM - 1:30 AM

17:00 - 01:30

9:00 AM

09:00

Codes Clearing Admin Name Robusta
Physical RC2
Logical RC2
GMI (FC) C2
ION A.C.N. None

Notes

References

  1. IFEU Softs Delivery Limits. {{{org}}}.
  2. TAS. {{{org}}}.

Resources

ICE Robusta Coffee Product Spec

ICE Robusta Coffee 1-Month Calendar Spread Product Spec

ICE ICE Robusta Coffee 2-Month Calendar Spread Product Spec