SUBSCRIBER NOTE: Platts proposes to launch M2, M3 CPC Blend CFD assessment

Following an increase in the traded volume of CPC Blend contracts for difference (CFDs) in the brokered market, S&P Global Platts proposes to publish assessments for second and third month CPC Blend CFD contracts from June 1, 2018.

Platts currently publishes an assessment of the 100,000 barrel M1 CPC Blend CFD contract and has been doing so since June 1, 2017. Under this current proposal, Platts would also publish M2 and M3 assessments.

Platts is requesting feedback on launching an assessment of the M2 and M3 CPC Blend CFD contracts.

The CPC Blend CFD instrument measures the difference between the Platts assessment of the outright price for CPC Blend crude oil and the Platts assessment of the Mediterranean Dated Brent strip. This difference is averaged over the period of validity of the contract, typically one calendar month.

CPC Blend is Kazakhstan's largest crude oil export grade, loading from the Russian Black Sea port of Yuzhnaya Ozereevka near Novorossiisk. Following recent increases in physical crude export volumes, an active swaps market has also developed for the M1 CPC Blend CFD contract.

Please send all comments by February 28, 2018 to europe_crude@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.