Sing 92 E/W Gasoline Asia/Europe – Commodity Differential
Contract for Difference
Spread Bet
A CFD is a financial derivative that allows traders to speculate on the price movement of an asset without owning it. The trader enters into a contract with a broker, agreeing to exchange the difference in the asset's price from the time the contract is opened to when it is closed.
Name & Trade Code
| Contract Name | Sing 92 E/W(100bbl-$/bbl) | |
| MT5 Code | 92_E/W | |
| Contract Classification | Commodity Differential CFD | |
| Geographical Region | Asia/Europe |
Contract Specification
| Sector | Energy | |
| Product Group | Gasoline | |
| Tenor Period | Consecutive individual whole calendar months, e.g. Jun 25 | |
| Maximum Forward Tenor | Up to 18 consecutive forward Tenor Periods available | |
| Contract Size | 100 | |
| Contract Unit | mt | |
| Trading Price Quote | $/mt | |
| Price Digits | 2 | |
| Currency | USD | |
| Tick Value | 1 | |
| Tick Size | 0.01 | |
| Minimum Volume | 1 | |
| Volume Steps [Lots] | 0.01 | |
| Settlement | Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month. | |
| Margins | Download a summary or detailed document with tiers. |
Expiry Trading Overview
| Contract Expiry Date | The last trading day of the expiring Tenor Period (i.e. 30 June 2025 for Jun 25 Tenor Period) | |
| Last Trading Day (for new open positions) | Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 23 June 2025 for Jun 25 Tenor Period) | |
| Last Trading Day (for closing position in that Tenor Period) | The Contract Expiry Date of the relevant Tenor Period |
Tenor Period Settlement Valuation Process
| Open Volume | The net open volume for the expiring Tenor Period | |
| Daily Settlement Value | Market-on-Close – The daily assessment settlement time, e.g. 4:30 pm for European contracts | |
| Daily Settlement Volume | Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value | |
| Final Settlement Price | Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month. |
The Singapore 92 East West contract is a commodity CFD (Contract for Difference) in the Gasoline group that represents the price differential between Singapore Mogas 92 Unleaded and Argus Eurobob Oxy FOB Rotterdam Barges.
Contract Purpose
This product differential contract allows market participants to:
- Hedge exposure to the price spread between Asian and European gasoline markets
- Speculate on regional price differentials between Singapore and Rotterdam
- Manage risk related to arbitrage opportunities between Asian and European gasoline markets
Market Significance
- Global Benchmark: Reflects the relationship between key gasoline benchmarks in Asia and Europe
- Arbitrage Indicator: Captures potential price discrepancies between two major gasoline trading hubs
- Regional Supply-Demand Dynamics: Provides insights into the relative supply and demand conditions in Asian and European gasoline markets
Trading Benefits
- Cross-Market Exposure: Provides simultaneous access to both Asian and European gasoline markets
- Risk Management: Allows hedging against price volatility between different regional gasoline benchmarks
- Spread Trading: Enables traders to capitalise on price differentials between Singapore and Rotterdam gasoline markets
This contract is particularly valuable for refineries, trading houses, and financial institutions active in the global gasoline market. It offers a powerful tool for managing price risks and implementing sophisticated trading strategies that account for the relationship between gasoline prices in different regions.
A spread bet is a form of wagering on the price movement of an asset, where the trader bets on whether the price will rise or fall. The profit or loss is determined by the difference between the opening and closing prices.
Name & Trade Code
| Contract Name | Sing 92 E/W($/0.01) | |
| MT5 Code | 92_E/W.s | |
| Contract Classification | Commodity Differential SB | |
| Geographical Region | Asia/Europe |
Contract Specification
| Sector | Energy | |
| Product Group | Gasoline | |
| Tenor Period | Consecutive individual whole calendar months, e.g. Jun 25 | |
| Maximum Forward Tenor | Up to 18 consecutive forward Tenor Periods available | |
| Contract Size | 100 | |
| Contract Unit | ||
| Trading Price Quote | $/bbl | |
| Price Digits | 2 | |
| Currency | USD | |
| Tick Value | 1 | |
| Tick Size | 0.01 | |
| Minimum Volume | 1 | |
| Volume Steps [Lots] | 0.01 | |
| Settlement | Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month. | |
| Margins | Download a summary or detailed document with tiers. |
Expiry Trading Overview
| Contract Expiry Date | The last trading day of the expiring Tenor Period (i.e. 30 June 2025 for Jun 25 Tenor Period) | |
| Last Trading Day (for new open positions) | Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 23 June 2025 for Jun 25 Tenor Period) | |
| Last Trading Day (for closing position in that Tenor Period) | The Contract Expiry Date of the relevant Tenor Period |
Tenor Period Settlement Valuation Process
| Open Volume | The net open volume for the expiring Tenor Period | |
| Daily Settlement Value | Market-on-Close – The daily assessment settlement time, e.g. 4:30 pm for European contracts | |
| Daily Settlement Volume | Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value | |
| Final Settlement Price | Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month. |
The Singapore 92 E/W contract is a commodity SB (Spread Bet) in the Gasoline group that represents the price differential between Singapore Mogas 92 Unleaded and Argus Eurobob Oxy FOB Rotterdam Barges.
Contract Purpose
This product differential contract allows market participants to:
- Hedge exposure to the price spread between Asian and European gasoline markets
- Speculate on regional price differentials between Singapore and Rotterdam
- Manage risk related to arbitrage opportunities between Asian and European gasoline markets
Market Significance
- Global Benchmark: Reflects the relationship between key gasoline benchmarks in Asia and Europe
- Arbitrage Indicator: Captures potential price discrepancies between two major gasoline trading hubs
- Regional Supply-Demand Dynamics: Provides insights into the relative supply and demand conditions in Asian and European gasoline markets
Trading Benefits
- Cross-Market Exposure: Provides simultaneous access to both Asian and European gasoline markets
- Risk Management: Allows hedging against price volatility between different regional gasoline benchmarks
- Spread Trading: Enables traders to capitalise on price differentials between Singapore and Rotterdam gasoline markets
This contract is particularly valuable for refineries, trading houses, and financial institutions active in the global gasoline market. It offers a powerful tool for managing price risks and implementing sophisticated trading strategies that account for the relationship between gasoline prices in different regions.
