ORBI

Product
Specification

PRODUCT SPECIFICATION

(coming soon)

Product Spread Contract Size margin requirement recreation
(micro per 0.01 lot)
Profesional,
Syariah, Signature
(per 0.1 lot)
Recreation (micro)
(per 0.01 lot)
SOYBEAN start From 109 $100 * *
Natural Gas start From 13 $10,000 * *
WHEAT start From 103 100 * *
CLU Start From 5 100 barrels $200 $20

TRADING HOURS OIL

Sessions Quotes Trade
Monday 00:05-21:55 00:05-21:55
Tuesday 00:05-21:55 00:05-21:55
Wednesday 00:05-21:55 00:05-21:55
Thursday 00:05-21:55 00:05-21:55
Friday 00:05-21:55 00:05-21:55
Saturday-Sunday OFF OFF

TIME ZONE GMT +2

What is the Reference Price?

The Reference Price refers to the automatic extension of contract periods when there are open positions in specific products such as Crude Oil (CLS10), Asian Indices (NK & HK), and US Indices (NQ, DJ & SP) without liquidating those positions.

During this process, the reference is not calculated as profit or loss. Instead, equity adjustments are made by calculating the difference between the closing price of the old contract and the closing price of the new contract. This ensures that the equity value remains consistent after the expiration of the old contract.

Adjustments During the Reference Price:

  • For an open Buy position, a financial adjustment will be made equivalent to the P/L (Profit or Loss) between the closing price of the old contract’s Sell position and the closing price of the new contract’s Buy position.
  • For an open Sell position, a financial adjustment will be made equivalent to the P/L (Profit or Loss) between the closing price of the old contract’s Buy position and the closing price of the new contract’s Sell position.

Crude Oil (CLU.ORB)
Crude Oil is one of the most actively traded commodities in the global market, as oil remains the most widely used source of energy to date. At Orbi Trade Internasional, the oil product offered is periodic oil, which includes a reference mechanism for open oil positions. Below are the details of the Reference Month implementation and a calculation illustration:

Implementation of the CLU.ORB Reference Price
The oil reference mechanism is executed 5 business days before the 25th of each month.

For example, in the October 2023 contract month, the 25th falls on a Wednesday. Therefore, 5 business days before the 25th would be October 18, 2023. As a result, the Crude Oil reference implementation for the October 2023 contract month falls on October 18, 2023.

Illustration of the CLU.ORB Reference Price Calculation
Below is an example of the Crude Oil reference calculation, assuming the closing price for the old Crude Oil contract is 82.82, and the closing price for the new Crude Oil contract is 83.69.

A trader holds a Buy position on CLU with 0.1 lots at an old price of 82.82 , resulting in a P&L of +$82

At the time of rollover, the new contract price is 83.69 resulting in a new P&L of + $169.
Commission charged: -$3 (based on lot size).

Calculation:

Adjust Rollover = Old P&L - New P&L – Commission

Adjust Rollover = 82 - 169 - 3 = -90 USD.

Result: The trader’s position remains open, with an adjust rollover fee of -90 USD applied to the account. The P&L calculation continues based on the new contract price.

Before the contract transitions, clients will be able to view reference new contract prices that may apply. This allows clients to prepare adequate margins to mitigate potential price changes affecting the Profit & Loss of floating transactions. In the event of a Stopout caused by price changes due to contract rolling, this is considered a trading risk that clients must bear. Therefore, we encourage you to prepare your margin and manage your trading finances carefully.

A trader holds a Buy position on CLU with 0.1 lots at an old price of 82.82 , resulting in a P&L of +$118

At the time of rollover, the new contract price is 83.69 resulting in a new P&L of + $31.
Commission charged: -$3 (based on lot size).

Calculation:

Adjust Rollover = Old P&L - New P&L – Commission

Adjust Rollover = 118 - 31 - 3 = 84 USD.

Result: The trader’s position remains open, with an adjust rollover fee of +84 USD applied to the account. The P&L calculation continues based on the new contract price.

Before the contract transitions, clients will be able to view reference new contract prices that may apply. This allows clients to prepare adequate margins to mitigate potential price changes affecting the Profit & Loss of floating transactions. In the event of a Stopout caused by price changes due to contract rolling, this is considered a trading risk that clients must bear. Therefore, we encourage you to prepare your margin and manage your trading finances carefully.

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