The Singapore 380cst high sulfur fuel oil futures contract is a cleared financial instrument for cargoes of high-sulfur product sold throughout Southeast Asia, primarily for the bunker fuel and utility fuel oil markets. It is a residual fuel oil product. The contract is physically delivered and expires on the fifth-to-last Singapore business day prior to the expiring delivery month.

For purposes of determining the floating price, the first nearby contract month settlement price will be converted each day to U.S. dollars and cents per barrel, rounded to the nearest cent.

The 100 metric ton (700 barrel) contract represents a commonly traded market unit. Minimum fluctuation is $0.01 per metric ton. The contract can be traded competitively on CME Globex® or submitted solely for clearing via NYMEX ClearPort® from 6:00 PM until 5:15 PM, Sunday through Friday. There is a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date) Monday through Thursday.

All positions are aggregated and margined according to the value at risk as calculated by the SPAN® system. Cross margining of offsetting positions across markets can result in reduced margin obligations.