New SGX Fuel Oil futures contract receives US Regulatory go- ahead

New SGX Fuel Oil futures contract receives US Regulatory go- ahead

18/02/10

Singapore Exchange (SGX) is pleased to announce that institutions and market participants in the United States (U.S.) can readily trade the SGX Fuel Oil 380cst futures contract.

This follows the confirmation by the U.S. Commodity Futures Trading Commission (CFTC) that it has no objection to the contract being offered and sold in the U.S. The CFTC’s decision will significantly strengthen the appeal of the contract for traders and investors in the international marketplace, and as a hedging tool.

The SGX Fuel Oil 380cst futures contract will start trading on Monday, 22 February 2010 in the afternoon at 2.30pm (Singapore time). Thereafter, the trading session for the new contract starts from Singapore time 9.30am to 6.30pm (T-session) followed by 7.30pm to 1.00am (T+1 session). The extended trading hours provide participants, such as shipping companies, bunker suppliers and oil trading companies, an efficient and transparent pricing mechanism for the Singapore fuel oil market from Asia open to Europe close.

For details on the contract specifications, please visit www.sgx.com/fueloil.