The contract will be cash settled against the IHS McCloskey Indonesian Sub-Bituminous FOB marker.
According to ICE, the contracts will be traded in multiples of 1000 tonnes, with a minimum price fluctuation of $0.05.
ICE Futures Europe president and COO David Peniket said ICE is pleased to respond to the needs of its market participants for hedging and risk management tools by building on its global coal complex including ICE’s existing international seaborne contracts, Rotterdam, Richard’s Bay and Newcastle.
The Indonesian sub-bituminous contracts will complement the existing utilities markets offered by ICE Futures Europe, including emissions, natural gas and electricity futures contracts.
