The Singapore Exchange (SGX) has launched its new SGX Argus LSFO 0.5%S Singapore Bunker Index Futures (code LSFF) derivative contract, says Global energy and commodity price reporting agency Argus Media on Monday (18 November).
The financial contract that settles on the monthly average of the daily assessments made by Argus, which are based on a volume-weighted average of spot fixed price LSFO bunker deals reported by 7pm each day.
Its offers the marine industry another tool to hedge their risk associated with the future price of bunkers in Singapore.
“This contract already trades around 1,000 lots/day on APEX (code LFA), providing price transparency and electronic trading, while the SGX contract may better suit commercial traders executing through brokers,” notes Argus Media.
“Argus Bunker Index (ABI) Singapore LSFO 0.5%S is also the solution for physical bunker contracts, ensuring that buyers and sellers will pay the fair market price at the time of delivery and addressing the danger of gasoil or cargo linked contracts deviating from spot market prices
A detailed explanation of Argus Bunker Indexes can be viewed here.
Related: SGX launch of LSFO derivative contracts to increase bunker market liquidity
Related: SGX to launch low sulphur fuel oil derivative contracts on 18 November 2019
Related: Argus ‘pleased’ on successful debut of APEX ABI Singapore LSFO Futures
Photo credit: Argus Media
Published: 18 November, 2019
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