新加坡亚太交易所推出其首份燃料油期货合约

据路透社4月11日新加坡报道，总部位于新加坡的亚太交易所(APEX)的一位女发言人称，该交易所计划在周四晚上推出首份燃料油期货合约，目标客户是区域和国际行业参与者。

该女发言人说，每1美元计价的380-厘斯高硫燃料油（380-cst HSFO）合同将是10吨的燃料油（交易单位为10吨/手，报价单位为美元/吨，最小变动价位为0.10美元/吨），如果保持到期满，这些燃料油可以与质量保证的 380-cst HSFO 进行实际交付。 

她说，合同规模相对较小，是为了满足机构投资者、企业投资者及散户，包括中国投资者的需求，而以美元签订合同则会吸引更多行业参与者。

自2018年7月上海交易所推出类似的人民币计价期货合约以来，中国燃料油期货的贸易流动性稳步增长。

第一个交易合同月将从2019年8月到2020年7月，每个月在各自月份开始的前一天到期。

这位女发言人说，这些合同每天将有几个交易窗口，定时覆盖标普全球普氏新加坡市场的收盘，上海期货交易所和洲际交易所平台上。

为确保达到质量标准， 卖方可以将燃油运送到APEX认可的储存设施进行检查，以保证产品规格。

这位女发言人说，根据380-cst HSFO期货合同的执行情况，APEX可能随后推出类似的低硫燃料油（LSFO）和船用柴油（MGO）期货合约，以满足不断变化的行业需求。

根据2020年生效的国际海事组织规则（IMO），船舶必须使用含硫量为0.5%或更少的燃料，而现在这一比例为3.5%，这迫使全球的托运人和炼油厂不得不做出改变。

詹晓晶   摘自   路透社

原文如下：

Singapore's APEX to launch its first fuel oil futures contract

Singapore-based Asia Pacific Exchange (APEX) plans to launch its first fuel oil futures contract on Thursday evening, targeting regional and international industry participants, a company spokeswoman said.

Each U.S. dollar denominated 380-centistoke high-sulphur fuel oil (380-cst HSFO) contract will be for 10 tonnes of fuel oil that is physically deliverable against quality-assured 380-cst HSFO if held until expiry, the spokeswoman said.

The relatively small contract size is designed to cater for both large and small investors, including from China, while having the contract in U.S. dollars should appeal to a broad range of industry participants, she said.

Trade liquidity for fuel oil futures in China has grown steadily since the launch of similar yuan-denominated futures contracts on the Shanghai exchange in July 2018.

The first contract months to trade will be from August 2019 to July 2020, with each expiring on the day before the start of the respective month.

There will be several trading windows for the contracts each day, timed to cover the S&P Global Platts Singapore Market on Close, Shanghai Futures Exchange (SHFE) and Intercontinental Exchange (ICE) platforms, the spokeswoman said.

To ensure quality standards are met, sellers can deliver the fuel oil to APEX approved storage facilities for inspection to warrant product specifications.

Depending on the performance of the 380-cst HSFO futures contract, APEX may subsequently launch similar low-sulphur fuel oil (LSFO) and marine gasoil (MGO) futures contracts that meet changing industry demands, the spokeswoman said.

Under International Maritime Organization (IMO) rules that come into effect from 2020, ships will have to use fuel with a sulphur content of 0.5 percent or less, compared with 3.5 percent now, forcing changes upon global shippers and oil refiners.