Guidelines for European E5 Eurobob gasoline barge ICE cleared derivatives in eWindow from March 30

Effective March 30, 2020, S&P Global Platts will add eWindow functionalities for FOB Amsterdam-Rotterdam E5 Eurobob gasoline barge derivatives in the Market on Close assessment process.

From March 30, Platts will publish bids, offers and intentions to trade in its MOC process for E5 Eurobob gasoline barge derivatives on the eWindow platform.

The contracts available to bid and offer and trade will include 11 forward calendar months, seven forward quarters, and one calendar year ahead. Platts already assesses as part of its gasoline forward curve coverage the full extent of the curve.

Indications from market participants received by Platts via instant messenger, telephone or other acceptable means will also be published on eWindow.

Headlines automatically generated by eWindow will appear on Platts Global Alert page 5, using new short-form language.

Certain guidelines that are applied to publishing bids, offers and intentions to trade during the MOC process will be updated to reflect efficiencies associated with the addition of eWindow as a communication tool, which are summarized below:

TIMING: The cut-off for placing bids or offers each day in eWindow will be 16:20:00 London time. For entities that choose to communicate bids and offers for publication to a Platts editor, the cut-off will be 16:15:00 London time.

INCREMENTABILITY: Bids and offers may be improved by up to $1/mt every 20 seconds. Repeat bids and offers should be communicated through eWindow within 30 seconds of a transaction being reported. For entities that choose to communicate bids and offers for publication to a Platts editor, the manual incrementability rule of up to $1/mt per 60 seconds will apply.

BID/OFFER FREEZE: For bids and offers published using the eWindow communication tool, there will be no price freeze, meaning that prices may change until the close of the MOC process at 16:30 London time. As previously, any bid or offer may be withdrawn so long as no interest to trade has been expressed. For entities that choose to send bids and offers for publication to a Platts editor through other communication tools, a freeze of two minutes after 16:28:00 London time will remain.

EXTENSION: To further test the repeatability of a transaction, when a price change or repeat bid/offer is communicated to Platts between 16:29:40 and 16:30:00, a three-minute extension will apply for those repeated indications, with a market close extended to 16:31:00:999.

VOLUME: Platts will continue to publish bids and offers for the standard quantity of 5,000 mt reflected in the assessments. These can be expressed in multiples of up to 10 x 5,000 mt.

PRICING: Platts will continue to reflect outright pricing mechanism in gasoline barges derivatives.

MOC CONTACT DETAILS: Market participants may find the following contact details useful for the MOC: Email: PL_LightEndsEurope@spglobal.com;