SGX Fuel Oil 380 cts futures contract successfully launched

SGX Fuel Oil 380 cts futures contract successfully launched

22/02/10

Singapore Exchange (SGX) new Fuel Oil 380-centistoke futures contract (FO 380 Contract) was successfully launched today.

The trading started at 2.30pm and there was continuous bid-ask quotes from market makers throughout the trading hours. Its first trading T-session ended at 6.30pm. The total volume traded for T session was 39 lots (3900 metric tonnes) and the daily settlement price at closing was US$472.20.

Market participants can continue to trade at the T+1 session, from 7.30pm to 1.00am. The extended trading hours provide participants, such as bunker suppliers, oil trading and shipping companies, an efficient and transparent pricing mechanism for the Singapore fuel oil market from Asia open to Europe close.