SUBSCRIBER NOTE: Platts proposes change to Singapore gasoil, jet derivatives MOC increment

S&P Global Platts proposes to change the increments for the Market on Close assessment process for Singapore gasoil and jet fuel derivatives to a minimum incrementability of 1 cent for every 20 seconds and maximum of 10 cents for every 20 seconds for bids and offers.

The current incrementability for bids and offers for gasoil and jet derivatives are set at a minimum of 1 cent per 30 seconds and a maximum of 10 cents per 30 seconds.

Platts also proposes to change the increment for the Market on Close assessment process for Singapore gasoil and jet fuel derivatives to a minimum incrementability of 1 cent for every 20 seconds and a maximum of 10 cents for every 20 seconds for time-spread and regrade spread bids and offers.

The current incrementability for time-spread and regrade spread bids and offers for gasoil and jet fuel derivatives are set at a minimum of 1 cent per 30 seconds and a maximum of 10 cents per 30 seconds.

At the same time, the reaction time after a trade to repeat order (repeatability) will be narrowed from the current 60 seconds to 20 seconds, in line with the proposed rate of incrementability.

The extension trigger timing will remain unchanged. An extension would be triggered by any price move or a re-bid/re-offer in the last ten seconds prior to the close of the MOC at 4:30 pm Singapore time (0830 GMT).

Platts proposes to make these changes with effect from April 15, 2019.

Please send comments and questions by March 15, 2019.

Please send any comments or queries, to asia_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.