Early Roll for US Oil Contract

Dear Clients,

Due to special circumstances where we have observed high volatility in the underlying market, we have spoken to our liquidity provider and made the decision to roll the US Oil contract earlier than the usual roll date. The date will be moved from 14th May 2020 to 30th April 2020.

The steps we are taking here should put our clients in a better position against the erratic movement of the front month contract and negate extraordinary risks in market dislocation and illiquidity as the front month contact comes close to expiry. We are also hoping this will negate the event of the contract from going into a trading halt due to negative pricing on the underlying futures contract.


The US Oil contract (CFD code: USOIL) is now due for expiry at 17:00 New York on Thursday, 30th April 2020.
Security Code : USOIL
Contract Expiry: 17:00 Thursday 30th April (New York Time)
Indicative Rate: ~16:30 Thursday 30th April (New York Time)
Final Rate: 17:00PM - 17:30 Thursday 30th April (New York Time)

Please be advised there will be a cash adjustment applied to your account at roll if you hold a position with us at expiry.

Our operations team will post the cash adjustment on the following day after the roll at 1st May 2020, which will be a debited for long positions and a credited for short positions in reference to the following indicative price difference between the 2 months below.

Please refer to the link below for the latest price information
https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html

If you have any further queries with regards to this please reach out to the dealing desk at +65 6232 5671 or sg.cfddealing@cgs-cimb.com