Great Britain Pound vs US Dollar
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 US Dollar (100K GBP) |
| MT5 Code | GBPUSD |
| Contract Classification | Spot FX CFD |
Contract Specification
| Sector | FX |
| Tenor Period | Spot Contract |
| Maximum Forward Tenor | Spot Contract |
| Contract Size | 100000 |
| Trading Price Quote | $/0.0001 |
| Price Digits | 5 |
| Tick Value | 1 |
| Tick Size | 1.0E-5 |
| Minimum Volume | 0.01 |
| Volume Steps [Lots] | 0.01 |
Expiry Trading Overview
| Trading Hours | Sun 10:00pm - Fri 10:00pm |
| Quoting Hours | Sun 10:00pm - Fri 10:00pm |
A spread bet is a form of wagering on the price movement of an asset, where the trader bets on whether the price will rise or fall. The profit or loss is determined by the difference between the opening and closing prices.
Name & Trade Code
| Contract Name | RBOB Swap/Naphtha NWE($/0.01) |
| MT5 Code | RBOB/Nap_NWE.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 allows market participants to:
- Trade the price spread between US RBOB gasoline and European naphtha directly
- Hedge exposure to transatlantic gasoline component and feedstock price relationships
- Manage risk associated with gasoline blending economics using naphtha as a component
- Implement trading strategies that capture the value chain between petrochemical feedstock and finished gasoline
Market Significance
Blending Economics Indicator: Provides a direct tool for tracking and managing the economics of using European naphtha in US gasoline blending operations
Transatlantic Value Chain: Captures the price relationship between a key European petrochemical feedstock and US finished gasoline
Regional Supply-Demand Barometer: Reflects fundamental balances in both the gasoline and naphtha markets across two major consuming regions
Trading Benefits
- Simplified Spread Management: Execute cross-product and cross-regional strategies with a single contract
- Value Chain Exposure: Access both upstream (naphtha) and downstream (gasoline) segments of the refining chain
- Efficient Risk Control: Directly hedges the price relationship that underpins gasoline blending economics
- Capital Efficiency: Reduces margin requirements compared to holding separate positions in both components
This contract is particularly valuable for refiners involved in gasoline production, gasoline blenders, petrochemical producers who may switch between gasoline and chemical production, and trading firms active in transatlantic petroleum product markets. It provides a specialized tool for managing the spread between these two benchmarks, supporting both operational hedging and speculative trading strategies in the global gasoline complex.