S&P Global adds 7.4 RVP RBOB, PBOB eWindow instruments in USAC, Chicago

S&P Global Commodity Insights has launched eWindow instruments for US Atlantic Coast 7.4 RVP RBOB (F1) and PBOB (H1), as well as 7.4 RVP Chicago PBOB in the Platts Market on Close assessment process from March 17, 2022. These replace the existing 9 RVP RBOB and PBOB eWindow instruments in the USAC and Chicago.

This is to more accurately reflect the market being assessed for summer Atlantic Coast RBOB and PBOB, and Chicago PBOB, following the Environmental Protection Agency announcement on Dec. 4, 2020, that it was simplifying the reformulated gasoline (RFG) standards by translating the summer RFG VOC standard into an RVP per-gallon cap of 7.4 psi.

There is no change to the underlying specification of the Platts assessments for these markets.

The new Chicago 7.4 RVP PBOB instruments are available for the Buckeye Complex, as well as the West Shore, Badger, and Wolverine pipelines. The new USAC 7.4 RVP RBOB and PBOB instruments are available for barge and Buckeye Pipeline.

S&P Global launched Chicago 7.4 RVP RBOB instruments in July 2021: https://www.spglobal.com/commodity-insights/en/our-methodology/subscriber-notes/070921-platts-to-launch-chicago-74-rvp-rbob-ewindow-instruments-july-12.

Participants in the MOC process are able to submit bids or offers for publication directly through the eWindow communication tool, or do so through an editor who would then publish the bids and offers using the software.

S&P Global has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers in the MOC process, in order to ensure an orderly and transparent price assessment process.

TIMING: All bids and offers will continue to have to be submitted by 1:00:00 pm CT. Following any trade, market participants have 30 seconds to rebid or reoffer. No price changes are allowed in the final minute of the MOC process, which closes at 1:30:00 pm CT. Additionally, a rebid or re-offer following a trade in the last 20 seconds prior to the close of the MOC process would trigger a 60-second extension period, in order to adequately test that bid or offer.

INCREMENTABILITY: Bids and offers may be improved by a maximum of $0.0025/gal every 30 seconds.

As per S&P Global editorial guidelines, market participants can withdraw a bid or offer from the MOC process at any time, so long as no other potential trading counterparty has indicated interest to buy or sell into the bid/offer.

Please send any feedback 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 S&P Global for public viewing. S&P Global will consider all comments received and will make comments not marked as confidential available upon request.