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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets Distillates Sing 0.5/Sing GO Distillates Asia – Commodity Differential CFD

Sing 0.5/Sing GO Distillates Asia – Commodity Differential CFD

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Name & Trade Code

Contract Name Sing 0.5/Sing GO(100mt-$/mt)
MT5 Code Sg0.5/Sg_GO
Contract Classification Commodity Differential CFD
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Distillates
Tenor Period Consecutive individual whole calendar months, e.g. May 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit mt
Trading Price Quote $/mt
Price Digits 2
Currency USD
Tick Value 1
Tick Size 0.01
Minimum Volume 1
Volume Steps [Lots] 0.01
Settlement Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month.
Margins Download a summary or detailed document with tiers.

Expiry Trading Overview

Contract Expiry Date The last trading day of the expiring Tenor Period (i.e. 30 May 2025 for May 25 Tenor Period)
Last Trading Day (for new open positions) Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 23 May 2025 for May 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period

Tenor Period Settlement Valuation Process

Open Volume The net open volume for the expiring Tenor Period
Daily Settlement Value Market-on-Close – The daily assessment settlement time, e.g. 4:30 pm for European contracts
Daily Settlement Volume Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value
Final Settlement Price Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month.

Contract Purpose

This differential contract allows market participants to:

  • Trade the price spread between Singapore 0.5% Very Low Sulphur Fuel Oil (VLSFO) and Singapore Gasoil directly
  • Hedge the differential between two of Asia’s most important marine and transport fuels
  • Manage exposure to both VLSFO and gasoil price movements in the Asian market
  • Implement trading and risk management strategies that reflect the economics of blending, refining, and fuel switching in shipping and transport sectors

Market Significance

Fuel Spread Benchmark: Provides a direct tool for tracking and managing the profitability of producing, blending, or switching between VLSFO and gasoil in Asia

Regional Price Indicator: Captures the economic relationship between marine fuel (VLSFO) and transport fuel (gasoil) demand and supply in a key global hub

Shipping & Compliance Relevance: Reflects the impact of IMO 2020 sulphur regulations and ongoing shifts in marine fuel consumption

Trading Benefits

  • Spread Management: Simplifies hedging or trading the VLSFO/gasoil spread with a single contract
  • Efficient Risk Control: Directly addresses the risk of price movements between two closely linked fuel products
  • Capital Efficiency: Reduces margin requirements compared to holding separate positions in both legs
  • Regional Exposure: Provides focused access to Asian marine and transport fuel market dynamics

This contract is especially valuable for refiners, shipping companies, fuel suppliers, and trading firms active in the marine and transport fuel markets. It provides a specialised tool for managing the spread between these two vital benchmarks, supporting both operational hedging and speculative trading strategies in the region’s dynamic energy sector.