SUBSCRIBER NOTE: Platts to add disclaimer to methodology guide

To provide more clarity on the standards we uphold in the Market on Close assessment process, Platts proposes to include the following disclaimer in its Methodology and Specifications Guide for Asia-Pacific Petrochemicals.

"Platts Petchem physical: Platts reserves the right not to publish any bids or offers considered to be unreasonable, such as a low bid or a high offer that does not represent market value.

Platts reflects incremental changes in bid/offer levels that give a counterparty ample time to execute.

In practice, initial bids below or offers in excess of $10/mt of notional values published before MOC or improvements in bid/offer levels in excess of $1/mt per minute during MOC may be seen as excessive.

Platts may vary these parameters without notice, depending on market conditions.

Buyers and sellers can retreat on a non-incremental basis but any subsequent improvements in bids/offers must be made incrementally from the level to which the buyer or seller retreated.

If a buyer or seller retreats to a level considered unreasonable, such a bid or offer will be excluded from the assessment process."

Please send any queries or comments to pl_asia_petchem@platts.com with a copy to pricegroup@platts.com.