ICAP is the leading broker in coal derivatives and one of the major liquidity provider to utilities, producers, commodity traders, funds and banks.

We provide a hybrid of voice and screen trading avenues on a range of indices in coal futures and options by our experienced team in London. The team has been established for over ten years and has been ranked as a consistent leader by our peers in this field.

The coal derivatives market has seen tremendous growth both in volumes and liquidity over the last decade and its derivatives are being used increasingly for both hedging and speculative purposes by new market participants. If you have any questions, please don’t hesitate to contact us to see how we can help.


Api2Coal imported into Northwest Europe (1)
Api4Coal exported from Richard’s Bay, South Africa (1)
Indo Sub-bitCoal loaded at Kalimantan, Indonesia (2)
Gc NewcastleCoal loaded at Newcastle, Australia (3)
Api8Coal Delivered into South China (1)
Api5 Australian 5,500 kcal/kg NAR high ash coal (1)
(1) Argus-McCloskey
(2) IHS McCloskey
(3) Global Coal