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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 Fuel Oil Visco ($/0.01) Fuel Oil Asia – Commodity Differential SB

Visco ($/0.01) Fuel Oil Asia – Commodity Differential SB

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Name & Trade Code

Contract Name Visco ($/0.01)
MT5 Code Visco.s
Contract Classification Commodity Differential SB
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Fuel Oil
Tenor Period Up to 24 consecutive forward Tenor Periods available
Maximum Forward Tenor Up to 24 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit
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 View document

Expiry Trading Overview

Contract Expiry Date The last trading day of the expiring Tenor Period (i.e. 31 March 2025 for Mar 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. 24 March 2025 for Mar 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 settlement assessment 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.
MOC Haircut

The Visco contract is a commodity SB (Spread Bet) in the Fuel Oil group that represents the price differential between Fuel Oil 180 CST Singapore and Fuel Oil 380 CST Singapore.

Contract Purpose

This product differential contract allows market participants to:

  • Hedge exposure to the price spread between 180 CST and 380 CST fuel oil in Singapore
  • Speculate on the relative value of different viscosity grades of fuel oil
  • Manage risk related to blending operations and refinery output

Market Significance

  • Blending Economics: Reflects the value of blending components used to produce different viscosity grades of fuel oil
  • Refinery Operations: Provides insights into the economics of producing various fuel oil grades
  • Shipping Industry Impact: Captures the price relationship between fuel grades used in different types of marine engines

Trading Benefits

  • Spread Risk Management: Allows traders to focus on relative price movements between fuel oil grades
  • Market Access: Provides exposure to Singapore’s key fuel oil benchmarks
  • Flexibility: Enables various trading strategies related to fuel oil blending and production

This contract is particularly valuable for refineries, shipping companies, trading houses, and financial institutions active in the Asian fuel oil market. It offers a tool for managing price risks and implementing sophisticated trading strategies related to different viscosity grades of fuel oil in Singapore.