Refined Products, Gasoline

February 10, 2025

Platts launches implied spreads on USGC gasoline eWindow Feb 10

Platts, part of S&P Global Commodity Insights, has launched implied spreads functionality on eWindow for its Market on Close assessment process for US Gulf Coast gasoline, effective Feb. 10, 2025. This functionality is automatically applied to any bids or offers in the Gulf Coast Colonial Pipeline gasoline MOC process.

This functionality means that bids and offers for outright price and product spreads may result in the generation of additional "implied" bids or offers. An implied bid or offer represents the value for a specific instrument, as implied by bids and offers for related instruments.

For example, a bid for premium RBOB (H4) and an offer for RBOB (F4) on the same Colonial Pipeline cycle will generate an implied bid for the H4/F4 spread on the Platts eWindow software. Implied bids and offers on eWindow will not generate headlines on Platts Global Alert but will be visible via the eWindow communication tool. In the event that an implied bid or offer is traded, a headline will be generated with the prefix "IMPLIED" and detailing each leg and counterparty of the resultant trades.

An expression of interest to trade an implied bid or offer will result in one or more trades taking place on the related instruments that resulted in the implied bid or offer.

Expressions of interest to trade an implied bid or offer communicated to an editor may not be published if prevailing credit filters do not allow interest to be marked.

Further information is available in this FAQ document: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/faq-trading-implieds-via-ewindow.pdf(opens in a new tab)

Platts provides training to participants interested in learning more about the use of the implied eWindow functionality. Any participants interested can contact ewindow@spglobal.com for training requests.

Please send all feedback, comments and questions to americas_products@spglobal.com and pricegroup@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.