Platts uses Kensho technology to speed up publication of key price benchmarks

S&P Global Platts has developed new functionality using Kensho technology to enable the faster publication of certain key price benchmarks with effect from April 15, 2021.

Kensho technology allows us to use intelligent automation and intuitive data visualization techniques to rapidly collate and analyze data from the Platts Market on Close process, allowing price assessments to be published more quickly.

Following the acquisition of Kensho by S&P Global in 2018, Platts and Kensho have worked closely to develop the new tool, which was tested during a trial period in the second half of 2020.

The trial, involving the publication of duplicate price symbols, demonstrated significant time savings in the publication process. On average, the time between the end of the MOC process and the publication of the benchmark assessment was reduced by 80%, with some markets seeing prices published almost two hours earlier than typical timings.

Internal debottlenecking and a focus on speed to market has also helped to prioritize the publication of these key prices.

There is no product or editorial change to Platts Global Alert or other real-time services, our end-of-day publications or for customers receiving data via FTP. No action will be required by any customers; those with access to real-time data will now receive the data much earlier in the day.

In its initial stage, the Kensho tool will be used to publish prices in crude, refined product, petrochemical and agricultural markets in the US, Europe and Asia. The following table shows the price assessments to be included in the initial April 15 launch of the new process:

More prices are expected to be added to the tool in the coming months. The following table shows the price assessments currently expected to be added:

For questions or comments, please email pricegroup@spglobal.com

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