NYMEX To Launch Singapore 380CST Fuel Oil Futures Contract On CME Globex

The New York Mercantile Exchange, Inc. announced today that it will launch a new Singapore 380cst fuel oil futures contract on the CME Globex electronic trading platform, beginning on September 24 for trade date September 25. This is the first NYMEX contract to feature physical delivery outside of the United States.

The contract, which will have the code HZ, will deliver 380cst high sulfur fuel oil, with maximum sulfur of 4.0%, in Singapore. It will be 100 metric tons with a minimum price fluctuation of $0.01 per metric ton. The last trading day will be the fifth to last Singapore business day prior to the start of the delivery month.

NYMEX will list the contract for 36 consecutive months. It will also be available for exchange of futures for physicals (EFP) and exchange of futures for swaps (EFS) transactions on NYMEX ClearPort® from 6:00 PM Sunday through 5:15 PM Friday, with a 45-minute break between 5:15 PM and 6:00 PM on Mondays through Thursdays.

Fees for trading the contract will be $0.50 per side for members and $0.95 per side for non-members.