European gasoline derivatives brokers are now utilising the daily General Index (GX) Eurobob E5 swap assessment in their window swap matching process, demonstrating the reliability, accuracy and transparency of our data.
At 16:30 market close, GX undertakes a survey of the front-month swap valuation across all brokers active in the Eurobob derivatives market, allowing us to assess swap value in a representative manner.
Rationales for broker submissions – including movements in underlying crude and key spreads in the minutes leading up to 16:30 – are incorporated into decisions to exclude any outlier submissions. The final swap assessment is then shared with all brokers. The brokers in turn utilise this data point as the industry-standard swap value, and are free to reference it in communication with the market. This demonstrates to trading counterparties that their derivative trades are matched to market consensus.
The adoption of the swap assessment in the swap matching process further bolsters the industry’s growing adoption of GX gasoline data across functions, with seven Eurobob gasoline instruments tradeable on ICE, and our indexes in use in physical trading.
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