SUBSCRIBER NOTE: Platts announces use of ICE eConfirm platform for gas price reporting

On November 21, 2016 Platts announced an agreement with Intercontinental Exchange to improve natural gas price transparency and bolster North America price benchmarks. To that end, Platts proposed an additional method of reporting physical transaction data. It would not take effect until the end of the transition period of the Platts-ICE agreement. The transition period will conclude at the end of May 2017. The ICE eConfirm platform can be used for daily price reporting on trade date May 31 for gas flow on June 1, and for monthly price reporting on May 24, the first day of June bidweek. Price reporters, who currently email physical natural gas trades to Platts, will have the option of reporting transactions to Platts through the ICE eConfirm platform.

The use of eConfirm represents a more timely and efficient means of reporting trade data. Price reporters who choose to submit all trade data through eConfirm will not be required to email a spreadsheet of transactions.

Regardless of what method price reporters choose, Platts will communicate future requirements to price reporters during the transition period.

Please send any comments to the above to gas_survey_comments@platts.com and pricemethodology@spglobal.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.