Coal futures contract launched on ICE
Coal-trading platform globalCOAL has collaborated with global futures exchange the IntercontinentalExchange (ICE) to introduce a financially settled coal futures contract, entitled the gC ICE Newcastle Futures contract, specifically designed for the Asian markets.
The two companies signed a co-operational licence agreement in April and they now plan to introduce a series of contracts together. The contract will be available for trading from the December 5.
globalCOAL’s chief executive officer, Eoghan Cunningham predicts high demand will fuel a strong start: “These critical conditions have resulted in significant pent-up demand for a cleared coal price risk management product,” he says.
The two companies also plan to launch a physically settled coal
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