- Trading Screen Product Name
- Gasoil Futures
- Trading Screen Hub Name
- Sing Gasoil 0.05% (Platts)
- Contract Symbol
SWS
- Hedge Instrument
The delta hedge for the Singapore Gasoil 0.05% (Platts) Average
Price Option is the Singapore Gasoil 0.05% (Platts) Future (SWS).
- Contract Size
1,000 Barrels
- Unit of Trading
Any multiple of 1,000 Barrels
- Currency
US Dollars and cents
- Trading Price
One cent ($0.01) per Barrel
- Settlement Price
One tenth of one cent ($0.001) per Barrel
- Minimum Price Fluctuation
One tenth of one cent ($0.001) per Barrel
- Last Trading Day
Last Trading Day of the contract month
- Fixed Price
The traded price or the previous day's settlement price
- Option Style
Options are average priced and will be automatically exercised into
the Singapore Gasoil 0.05% (Platts) Future on the expiry day if
they are "in the money". The Future resulting from exercise
immediately goes to cash settlement relieving market participants
of the need to concern themselves with liquidation or exercise
issues. If an option is "out of the money" it will expire
automatically. It is not permitted to exercise the option on any
other day or in any other circumstances than the Last Trading Day.
No manual exercise is permitted.
- Option Premium / Daily Margin
The Singapore Gasoil 0.05% (Platts) Average Price Option is a
premium-paid-upfront option. The traded premium will therefore be
debited by the Clearing House from the Buyer and credited to the
Seller on the morning of the Business Day following the day of
trade. Members who are long premium-paid-upfront options will
receive a Net Liquidating Value (NLV) credit to the value of the
premium which is then used to offset the initial margin requirement
flowing from both these options and positions in other energy
contracts. Members who are short premium-paid-upfront options will
receive an NLV debit in addition to their initial margin
requirement. NLV is calculated daily with reference to the
settlement price of the option.
- Expiry
16:30 Singapore Time.
Automatic exercise settings are pre-set to exercise contracts which
are one minimum price fluctuation or more ""in the money"" with
reference to the relevant reference price. Members cannot override
automatic exercise settings or manually enter exercise instructions
for this contract. The reference price will be a price in USD and
cents per barrel equal to the final settlement price of the
Singapore Gasoil 0.05% (Platts) Future for the contract month. When
exercised against, the Clearing House, at its discretion, selects
sellers against which to exercise on a pro-rata basis.
- Strike Price Intervals
A minimum of 20 Strike Prices in increments of $0.01 per bbl above
and below the at-the-money Strike Price. Strike Price boundaries
are adjusted according to futures price movements. User-defined
Strike Prices are allowed in $0.01 increments.
- Contract Series
Up to 60 consecutive months
- Final Payment Date
Two Clearing House Business Days following the Last Trading Day
- Business Days
Publication days for Platts Asia-Pacific/Arab Gulf Marketscan
- MIC Code
- IFEU
- Clearing Venues
- ICEU