SUBSCRIBER NOTE: Transactional interest in bids, offers in Platts MOC process

Platts wishes to clarify that during its Market on Close assessment process, it will only consider for publication and assessment transactional interest that is expressed by participants for bids or offers that have already been published by Platts. Interest in bids or offers at prices that have not been published, and therefore may not be fully available for testing in the marketplace as a whole, may be disregarded. Should a buyer lower its bid or a seller increase its offer, an expression to trade at a previously published level will not be considered. Platts' editorial processes require full clarity when communicating bids/offers and intentions to trade. When expressing an intention to hit a bid or lift an offer in the MOC processes, any message must include the specific price of the trade and the name of the counterparty. Platts' MOC assessment process considers firm bids, firm offers, and transactions that are transparent and firm. Buyers and sellers have the right to withdraw bids or offers at any time in the Platts MOC process, unless prior interest has already been expressed by a potential counterparty. Please send any questions or comments to oilgroup@platts.com and pricegroup@platts.com. For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.