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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 Gasoline Sing 92 Spread

Sing 92 Spread

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A CFD is a financial derivative that allows traders to speculate on the price movement of an asset without owning it. The trader enters into a contract with a broker, agreeing to exchange the difference in the asset's price from the time the contract is opened to when it is closed.

Name & Trade Code

Contract Name Sing 92 Spread(100bbl-$/bbl)
MT5 Code Sg92_Sprd
Contract Classification Commodity Time-Spread CFD
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Gasoline
Tenor Period Consecutive individual whole calendar months, e.g. Aug 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit bbl
Trading Price Quote $/bbl
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. 29 August 2025 for Aug 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. 22 August 2025 for Aug 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period
Trading Hours 8:00am - 5:30pm London time
Quoting Hours 8:00am - 6:00pm London time

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.
Name & Trade Code Singapore Mogas 92 Unleaded
Contract Name:Sing 92 Sprd  (Gasoline), Time Spread, Asia -Commodity CFD
Platform Code:Sing 92 Sprd
Deal Classification:Commodity CFD
Deal Type (Outright/Product Differential/Time Spread):Time Spread
Geographical Region:Asia
Specification 
Sector:Energy
Price Digits:2
Product Group:Gasoline
Tenor Period: Consecutive individual whole calendar months, e.g. February 25 (Feb25)
Maximum Forward Tenor:12 consecutive forward Tenor Periods available
Trading Screen Name:Sing 92 Sprd
Deal Type:Time Spread
Contract Size:100
Unit of Trading:bbl
Currency:USD
Minimal Volume[Lots] (Lots * Contract Size = Total Deal Volume ):1
Volume Step:0.1
Settlement:Last Trading Day and Expiry is the COB working day prior to start of the nearest contract month, please refer to Expiry Trading Overview below
Trading Price Quote:$/bbl
Underlying Settlement Price Reporting Agency (PRA): Platts
Expiry Trading Overview:  
Contract Expiry Date:The last working day of the month prior to the nearest expiring Tenor Period
Last Trading Day (for new open positions): 
Last Trading Day for closing position in that Tenor Period:The Contract Expiry Date for the Tenor Period
  
Tenor Period Settlement Valuation Process: 
Open VolumeThe net open volume for the Tenor Period
Daily Settlement ValueMarket-on-Close – The daily Underlying PRA assessment (Platts, Argus or Exchange) settlement assessment time, e.g. Singapore Window for Singapore contracts or local PRA settlement time
Daily Settlement VolumeAll Open Volume will be closed and settled at Daily Settlement Value, with an MOC haircut applied
Final Settlement PriceLast Trading Day and Expiry is the COB working day prior to
MOC Haircut +/- 50% of nominal OMGO spread

The Sing 92 Sprd contract is a commodity CFD (Contract for Difference) in the Gasoline group that represents the time spread between two consecutive months of Singapore Mogas 92 Unleaded gasoline.

Contract Purpose

This time spread contract allows market participants to:

  • Speculate on or hedge against changes in the price relationship between two consecutive months of Singapore Mogas 92 Unleaded gasoline
  • Manage exposure to seasonal price fluctuations in the gasoline market
  • Execute calendar spread trading strategies

Market Significance

  • Price Structure: Reflects the market’s expectation of near-term supply and demand dynamics
  • Seasonal Patterns: Captures typical seasonal variations in gasoline consumption
  • Refinery Maintenance: Can indicate the impact of scheduled refinery turnarounds on gasoline supply

Trading Benefits

  • Spread Risk Management: Allows traders to focus on relative price movements between months, reducing exposure to outright price volatility
  • Market Access: Provides a tool for trading the time structure of the Singapore gasoline market
  • Flexibility: Enables various trading strategies, from simple calendar spreads to more complex multi-leg trades

This contract is particularly useful for refineries, trading houses, and financial institutions active in the Asian gasoline market, offering them a precise instrument to manage time-related price risks and implement sophisticated trading strategies.

A spread bet is a form of wagering on the price movement of an asset, where the trader bets on whether the price will rise or fall. The profit or loss is determined by the difference between the opening and closing prices.

Name & Trade Code

Contract Name Sing 92 Spread($/0.01)
MT5 Code Sg92_Sprd.s
Contract Classification Commodity Time-Spread SB
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Gasoline
Tenor Period Consecutive individual whole calendar months, e.g. Aug 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit
Trading Price Quote $/bbl
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. 29 August 2025 for Aug 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. 22 August 2025 for Aug 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period
Trading Hours 8:00am - 5:30pm London time
Quoting Hours 8:00am - 6:00pm London time

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.