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SGX ASIACLEAR® CLEARS FIRST BALANCE-OF-MONTH GASOIL CONTRACT AND EXCEEDS US$530 MILLION IN ITS OTC CLEARING ACTIVITIES
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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.
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Issued on: 12 March 2007 |
