The deal, which took place on the IntercontinentalExchange (ICE), was for a total of 6,000 lots or 600,000 tons of gas oil. It was a strategy based on the November gas oil contract and it expires on November 5th.
“We’re very pleased that within the space of a year we’ve been able to build up our options business to a level where we are breaking new ground within the market,” says Glen Ward, joint head of commodities at ODL. The deal, between an industry player and a bank, is indicative of the growth of ICE gas oil options which have now overtaken Brent options in volume, Ward added.
The week on Risk.net, September 8-14, 2018Receive this by email