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APEX ABI LSFO Futures completes Singapore regulatory process

15 Oct 2019

Singapore-based derivatives exchange Asia Pacific Exchange (APEX) has completed the necessary regulatory processes with the Monetary Authority of Singapore (MAS) for its APEX Argus Bunker Index (ABI) Singapore LSFO 0.5%S Futures Contract (APEX ABI LSFO Futures) product, learns Manifold Times.

“MAS has no further comments for the listing of our Low Sulphur Fuel Oil futures contract with Argus,” a company source confirmed on Tuesday (15 October) morning.

“We are planning an official announcement of this milestone development to start trading operations soon.”

Pricing for the APEX ABI LSFO Futures are calculated using the Argus Bunker Index for Singapore LSFO produced by commodity price reporting and news agency Argus Media.

The cash-settled contract can be used by oil traders, bunker fuel suppliers and shipowners to manage their price risks related to the new low-sulphur fuel oil (LSFO) required to comply with the 0.5% sulphur cap being introduced by the International Maritime Organisation in January 2020 (IMO 2020).

APEX is the third exchange approved by the Monetary Authority of Singapore with the “Approved Exchange” and “Approved Clearing House” license.

To date, APEX has four listed contracts, comprising of Energy, Agricultural and Financial products.

Related: APEX enters agreement to use Argus’ prices in proposed LSFO futures contract

Other related: APEX conducts industry peer reviews, plans release of LSFO futures contract
Other related: APEX Fuel Oil Futures Contract executes first ‘Exchange of Futures for Physicals’ op
Other related: Singapore: APEX holds Fuel Oil Futures Cocktail Reception
Other related: Singapore: Asia Pacific Exchange officially launches 380 cSt fuel oil futures contract

Photo: Manifold Times
Published: 15 October, 2019

 

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