S&P Global proposes to change incrementability for Singapore gasoil/jet fuel derivatives MOC

S&P Global Commodity Insights proposes to change the increments for the Platts Market on Close assessment process for Singapore gasoil and jet fuel derivatives to a maximum of 10 cents every 10 seconds for flat price bids and offers with effect from June 1, 2022, from a maximum of 10 cents every 20 seconds currently.

The proposed change will bring the Singapore gasoil and jet fuel derivatives increments more in line with other Asian refined product and crude MOCs.

In addition, S&P Global also proposes to change the increments for Singapore middle distillate time spread and regrade spread bids and offers to a maximum of 5 cents every 10 seconds from June 1, from a maximum of 10 cents every 20 seconds currently.

Under this proposal, all other MOC timing and increment guidelines would remain unchanged. For example, market participants will still have 20 seconds to repeat a bid or offer, following a trade. An extension would continue to be triggered by any price move or a rebid/reoffer in the last ten seconds prior to the close of the MOC at 4:30 pm Singapore time (0830 GMT).

Please send all feedback, comments or questions by April 29, 2022, to asia_oilproducts@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.