Gasoil Arb - Singapore Gasoil (Platts) vs Low Sulphur Gasoil 1st Line Future (in Bbls)6753432

Description

A monthly cash settled future based on the difference between the Platts daily assessment price for Singapore Gasoil and the ICE settlement price for Low Sulphur Gasoil 1st Line Future throughout 2017. From 2 January 2018 it will become a monthly cash settled future based on the difference between the Platts daily assessment price for Singapore Gasoil 0.05% sulfur (500 ppm) and the ICE settlement price for Low Sulphur Gasoil 1st Line Future.

NB: Platts assessment of Singapore “Gasoil” up to the end of 2017 reflects a 500 ppm (0.05%) sulfur content Gasoil grade. From 2 January 2018, “Gasoil” will reflect 10 ppm sulfur Gasoil grade.
NB: The contract name ‘Singapore Gasoil (Platts) vs Low Sulphur Gasoil 1st Line Future (in Bbls)’ will be changed to ‘Singapore Gasoil 0.05% (Platts) vs Low Sulphur Gasoil 1st Line Future (in Bbls)’ from 2 January 2018.

Market Specifications

Trading Screen Product Name
Gasoil Arb Futures
Trading Screen Hub Name
Sing 0.05%/LS GO 1st Line
Contract Symbol
SWW
Contract Size
1,000 barrels
Unit of Trading
Any multiple of 1,000 barrels
Currency
US Dollars and cents
Trading Price Quotation
One cent ($0.01) per barrel
Settlement Price Quotation
One tenth of one cent ($0.001) per barrel
Minimum Price Fluctuation
One tenth of one cent ($0.001) per barrel
Last Trading Day
Last Trading Day of the contract month
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward and derivative markets for both physical and financial products.
Final Settlement Price
Up to and including the December 2017 contract month in respect of final settlement, the Floating Price will be a price in USD and cents per barrel equal to the difference between the average of the “Mid” quotations appearing in “Platts Asia-Pacific/Arab Gulf Marketscan” under the heading “Asia Products” subheading “Singapore” and “FOB Singapore ($/barrel)” for “Gasoil” and the average of the settlement prices as made public by ICE for the front month Low Sulphur Gasoil Future for each business day (as specified below) in the determination period.

From January 2018 in respect of final settlement, the Floating Price will be a price in USD and cents per barrel equal to the difference between the average of the “Mid” quotations appearing in “Platts Asia-Pacific/Arab Gulf Marketscan” under the heading “Asia Products” subheading “Singapore” and “FOB Singapore ($/barrel)” for “Gasoil 0.05% sulfur” and the average of the settlement prices as made public by ICE for the front month Low Sulphur Gasoil Future for each business day (as specified below) in the determination period.

Non-Common Pricing applies.

conversion factor: 1 metric tonne = 7.45 barrels.
Roll Adjust Provision
In order to use the correct Floating Price quotations, the nearby month quotation for ICE Low Sulphur Gasoil Futures specified in the Floating Price terms above will be used except for the expiration date of the commodity's underlying delivery month's futures contract. On such date, the applicable pricing quotation will be rolled to the following month's futures contract.
Contract Series
Up to 48 consecutive months
Final Payment Dates
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
Loading...

Trading Hours

CityTradingPre-Open
New York6:50 PM - 5:05 PM*
18:50 - 17:05
6:40 PM
18:40
London11:50 PM - 10:05 PM*
23:50 - 22:05
11:40 PM
23:40
Singapore7:50 AM - 6:05 AM*
07:50 - 06:05
7:40 AM
07:40

*Next Day

Loading...

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Ref Diffs bbl
Physical
SWW
Logical
SWW
GMI(FC)
ZR
R&N A.C.N.
1293