Platts proposes timing, incrementability guidelines for European LPG priced relative to naphtha

Platts, part of S&P Global Commodity Insights, is proposing to include guidelines on incrementability for manual bids and offers in the Platts Market on Close assessment process for European LPG where pricing is wholly or partly based on a percentage of Platts CIF NWE naphtha.

The move would apply to bids and offers in the Platts MOC effective May 19.

Under the proposal, a bid or offer could improve by a maximum of 1% of CIF NWE naphtha every 60 seconds.

The minimum movement would be 0.25% of CIF NWE naphtha.

The timing guidelines for any such bids and offers would be in line with the current guidelines applicable to cargoes, coasters and barges as appropriate.

To ensure that all published MOC data is fully tested in the market, Platts has established incrementability guidelines which detail how quickly bids and offers may be improved when they have been published, and by what amount.

Platts may notify the market of any adjustment to the standard increments in the event of market volatility or a disruptive event.

Full details of the current Platts guidelines for timings and increments in oil markets are available here: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/oil-timing-increment-guidelines.pdf

Please send any comments and feedback by April 21 to europe_products@spglobal.com with a copy to 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.