Asia gasoline MOC incrementability timing cut February 1

Effective February 1, 2011, Platts is reducing the incrementability timing guideline within its editorial Market On Close (MOC) processes where eWindow is used for bids/offers submitted in Asia gasoline physical cargo and paper swaps markets.

Platts will accept in its editorial processes price changes of up to 10 cents per barrel as rapidly as every 30 seconds.

Currently, Platts publishes sequential price changes of up to 10 cents per barrel at a frequency of no less than a minute, to test market reaction to bids/offers of a minimum of 50,000 barrels by volume.

The move to 30 seconds per change is in line with editorial guidelines applied for other Asian, European and US markets; as eWindow is adopted, efficiency improvements allow incremental price changes to be made more quickly.

From February 1, 2011, the timing for the Final Market State for Asia gasoline physical cargoes will also change from 4.28.01 pm Singapore time to 4.29.01 pm Singapore time, after which no new changes to price can be made.

The cut off for last price changes in Asia gasoline paper swaps will remain unchanged at 4.30.00 pm Singapore time.

For comments or queries please contact asia_products@platts.com and pricegroup@platts.com.