Diesel FOB Primorsk Futures

Diesel FOB Primorsk Futures

Deliverable futures contract for Russian exported Diesel EURO-5 FOB Primorsk

As of 11 November 2019 SPIMEX holds trading of a new instrument in the Derivatives Market Section – the deliverable futures contract for exported Diesel. This projects aims at creating a direct price quotation of this important commodity exported from Russia which accounts for 30% of the total consumption of this middle distillate in Europe.

The Exchange has been working on this project together with OJSC “Transneft”, Russian and foreign oil majors, leading foreign oil trading companies along with brokerage firms.

Both legal and physical persons, Russian residents and non-Russian residents can take part in the trades. Yet only Russian and foreign legal persons can qualify for the delivery. The standard delivery contract has been made out by the Exchange in close cooperation with leading Russian and foreign oil companies, incorporating their actual trading practices. The futures contract for Diesel EURO-5 will be settled by the delivery on FOB Primorsk terms. The approved delivery unit of 30.000 metric tons is in line with the standard size of cargo loaded in Primorsk.

Contract Description

D SPIMEX Export Diesel Deliverable Futures (FOB Primorsk)
Settlement method: Physically settled
Underlying asset: Diesel EURO-5
Hub Name: FOB Primorsk
Price Quoted: US Dollars and cents
Contract Size: 100 mt
Standard Delivery: 30 000 mt
Min Price Flux (per ton): USD 0.01
Min Price Flux (per contract): USD 1.0
Last Trading Day: The 15th day of the month preceding the delivery month
Delivery: From the 1st calendar day until the last calendar day of the month when the underlying asset is delivered
Settlement Price: Settlement Price set on the Last Trading Day of the relevant futures contract
Performance Procedure: The parties enter into Physical Contracts at the SPIMEX Derivatives Market on the terms and conditions and under the procedure set forth in the relevant Contract Specifications, the Trading Rules and the in-house regulations of the Clearing House.
Exchange Fee: RUB 20,00 - for 1 futures contract (lot)/RUB 200,00 - for each 100 metric tons of delivery contract
Clearing Fee: RUB 20,00 - for 1 futures contract (lot)/RUB 200,00 - for each 100 metric tons of delivery contract
Margin rates: 7.5-10%
Current margin rates applicable to stand-alone open positions are disclosed at the Web-site of SDCO clearing house.
Specifications: The relevant specifications entitled ‘Specification of Deliverable Futures Contracts for Russian Export Diesel Fuel EURO-5 FOB Primorsk’ is available in the Documents section in English language.

Full list of English translations of all exchange’s documents:

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