Great Britain Pound vs Japanese Yen
Contract Details
Contract for Difference
Spread bet
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 | Great Britain Pound vs Japanese Yen (100K GBP) |
| MT5 Code | GBPJPY |
| Contract Classification | Spot FX CFD |
Contract Specification
| Sector | FX |
| Tenor Period | Spot Contract |
| Maximum Forward Tenor | Spot Contract |
| Contract Size | 100000 |
| Trading Price Quote | JPY/0.01 |
| Price Digits | 3 |
| Tick Value | 1 |
| Tick Size | 0.001 |
| Minimum Volume | 0.01 |
| Volume Steps [Lots] | 0.01 |
Expiry Trading Overview
| Trading Hours | Sun 10:00pm - Fri 10:00pm |
| Quoting Hours | Sun 10:00pm - Fri 10:00pm |
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 Kero Brent Crk($/0.01) |
| MT5 Code | Sg_Kero_Brt_Crk.s |
| Contract Classification | Commodity Differential SB |
Contract Specification
| Sector | FX |
| 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 |
| Trading Price Quote | $/bbl |
| Price Digits | 2 |
| Tick Value | 1 |
| Tick Size | 0.01 |
| Minimum Volume | 1 |
| Volume Steps [Lots] | 0.01 |
Expiry Trading Overview
| Trading Hours | |
| Quoting Hours |
Contract Purpose
This differential contract enables market participants to:
- Trade the price spread between Singapore Jet/Kerosene and Brent crude oil directly
- Hedge refining margins for jet fuel/kerosene production using European crude as feedstock for Asian markets
- Manage exposure to both regional crude and product price movements
- Implement cross-regional strategies between Asian refined products and European crude supply
Market Significance
Refining Margin Benchmark: Provides a direct tool for tracking and managing the profitability of refining European crude into jet fuel/kerosene for Asian markets
Regional Price Indicator: Captures the economic relationship between European crude supply and Asian distillate demand
Global Trade Relevance: Reflects the interconnectedness of European crude flows and Asian product consumption, a major axis in global energy markets
Trading Benefits
- Margin Management: Simplifies the process of hedging or trading refining margins with a single contract
- Cross-Market Access: Offers exposure to both Asian and European energy markets in one instrument
- Efficient Risk Control: Directly addresses the risk of price movements between crude input and product output
- Capital Efficiency: Reduces margin requirements compared to holding separate positions in both legs
This contract is particularly valuable for refiners processing European crude for Asian jet fuel markets, trading firms active in the distillates market, and airlines or industrial consumers seeking to manage jet fuel costs. It provides a focused tool for managing the spread between these two vital benchmarks, supporting both operational hedging and speculative trading strategies.