SGX AsiaClear® Clears First Balance-Of-Month Gasoil Contract And Exceeds US$530 Million In Its OTC Clearing Activities

The Singapore Exchange (SGX) is pleased to announce that SGX AsiaClear® has cleared the first Balance-Of-Month Gasoil (BOM GO) contract and also exceeded US$530 million in value of OTC clearing activities since its launch.

The first BOM GO trade was brokered by TFS Energy (S) Pte Ltd and cleared by SGX Clearing Members, Barclays Capital Futures (Singapore) Pte Ltd and UOB Bullion & Futures Ltd.

"We are delighted to see this immediate use of the SGX AsiaClear® OTC Balance-of-Month Gasoil contract that was introduced in response to the marketplace. SGX AsiaClear® has been steadily growing its pool of Asia-based OTC counterparties, and their increasing participation testifies to commercial need and value of such clearing services offered by SGX," said Mr Seck Wai Kwong, Senior Executive Vice President, Singapore Exchange.

OTC market participants are experiencing the benefits of the convenience of trading with a growing pool of SGX AsiaClear® counterparties via a single clearing account with one of SGX Clearing Members. SGX AsiaClear®'s suite of oil products includes the unique Balance-of-Month contracts for Gasoil, Fuel Oil 180cst and Fuel Oil 380cst. In addition, SGX AsiaClear® also offers clearing for other oil swaps and wet/tanker and dry bulk forward freight agreements.