SUBSCRIBER NOTE: General guidelines for new European Naphtha eWindow

Effective January 2, 2015 Platts has transitioned the CIF Northwest European naphtha cargoes from Platts physical oil in the eWindow to Platts variable oil in eWindow. This will create a different format for headlines of bids and offers published on PGA005. For example, a headline that would have appeared as "Platts Naphtha NWE Crg Jan5-Jan9, Company A lowers offer $380.00 for 12500" will from January 2 be published as "Platts NWE Crg 12.5 KT +/- 10% CIF bss Rotterdam 10-25, Company A lowers offer January 5-January 9 100% Flat Price Flat Price $380.00 for 12500-12500."

Trades that occur through eWindow in Platts variable oil will also not appear in the ICE ticker but will generate a headline in the Platts headline box. Incrementability will remain the same at $0.25/mt to $1/mt per 20 seconds. It will remain possible to repeat a bid or an offer within 30 seconds of a trade being concluded. If a repeat is made in the last 20 seconds of the MOC process or an indication changes price -- between 16:29:40:99 London time and 16:30:00:99 London time -- it will trigger a price extension of one minute.

Please send all comments to europe_products@platts.com, with a cc to 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.