Oil FCM

Discussion in 'Commodity Futures' started by chasinfla, Apr 20, 2020.

  1. If you can handle deliver please pm me.
     
    unconventional wisdom likes this.
  2. ZBZB

    ZBZB

    Last edited: Apr 20, 2020
  3. VPhantom

    VPhantom

    Who could possibly handle delivery besides refineries?
     
    bone likes this.
  4. storage facilitates obviously.. if someone is posting on ET for storage you know the glut is bad!
     
  5. holy cow is he still around?

    o, you're being funny.
     

  6. The ask is for an FCM that can handle taking delivery, not for storage.
     
  7. ZBZB

    ZBZB

    call http://www.mbfcc.com/
     
    chasinfla likes this.
  8. bone

    bone ET Sponsor

    Good luck with that.

    You have to be approved by the exchange to do that.

    If it adds any color - Morgan Stanley quit doing the physical storage arb because it ate up too much capital.

    "Delivery shall be made free-on-board ("F.O.B.") at any pipeline or storage facility in Cushing, Oklahoma with pipeline access to Enterprise, Cushing storage or Enbridge, Cushing storage. Delivery shall be made in accordance with all applicable Federal executive orders and all applicable Federal, State and local laws and regulations.

    At buyer's option, delivery shall be made by any of the following methods: (1) by interfacility transfer ("pumpover") into a designated pipeline or storage facility with access to seller's incoming pipeline or storage facility; (2) by in-line (or in-system) transfer, or book-out of title to the buyer; or (3) if the seller agrees to such transfer and if the facility used by the seller allows for such transfer, without physical movement of product, by in-tank transfer of title to the buyer."
     
    dealmaker, chasinfla and TooEffingOld like this.
  9. bone

    bone ET Sponsor

    Unless you have the pre-approved bonafides to make or take physical delivery - which are considerable, you are going to get auto-liquidated by your broker before first notice day and the last trading day for physical contracts.

    Having traded both cash Treasuries and bilateral physical energy myself - it would be a hell of a lot easier with a Ten Year Note than 10K barrels of Crude.
     
    VPhantom and cdcaveman like this.
  10. people that don't know anything about futures thinking there is an opportunity for them...
     
    #10     Apr 20, 2020
    misterkel, dealmaker and bone like this.