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

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

This decision follows on from a proposal published February 12 and available here: https://www.platts.com/subscriber-notes-details/26890180. Platts currently publishes an assessment of the 100,000 barrel M1 CPC Blend CFD contract and has been doing so since June 1, 2017. With this decision, from June 1, 2018, Platts will also publish M2 and M3 assessments.

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 further comments to europe_crude@spglobal.com and pricegroup@spglobal.com.

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