Singapore Exchange to trade fuel oil futures in February
SGX has announced details of a new fuel oil contract scheduled for launch on Monday, February 22.
The contract is based on the Residual Marine Grade 380 ISO 8217, primarily bunker fuel oil supplied to ships. Physical delivery will be through free-on-board or inter-tank transfer at exchange-designated Singapore oil installations. The minimum trading contract size is 100 metric tonnes per lot and the minimum deliverable size will be 2,000 metric tonnes or 20 lots.
Market-makers and liquidity providers will be available for this contract, SGX says.
According to Lam Yi Young, chief executive of
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