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SINGAPORE: The Singapore Exchange will start trading a new fuel oil futures contract on February 22.
SGX said the new contract is based on the Residual Marine Grade 380 ISO 8217, which primarily consists of bunker fuel oil supplied to ships.
Physical delivery will be via free-on-board or inter-tank transfer at exchange-designated Singapore oil installations.
The minimum tradeable contract size is 100 metric tonnes per lot and the minimum deliverable size is 2,000 metric tonnes or 20 lots.
SGX said market makers and liquidity providers will be available for this contract.
With Singapore's status as the world's largest bunkering port and the world's third largest oil trading hub, SGX said the new contract will further enhance the country's attraction as an international oil pricing centre.
- CNA/ir
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