Platts changes Los Angeles diesel, gasoline MOC timings with eWindow launch

• Platts launches eWindow instruments for LA diesel, gasoline
• MOC timings change to reflect eWindow change

S&P Global Platts has launched the Platts Editorial Window (eWindow) communication tool for its Los Angeles pipeline diesel and gasoline Market on Close assessment processes, effective April 15, 2021.

As part of the launch, Platts has changed the timing and increment guidelines for the MOC process, also with effect from April 15.

Participants in the Platts MOC process will be able to submit bids and offers for publication directly through the eWindow software or through an editor, who would then publish bids and offers using the software.

Platts 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.

The maximum price increment for bids and offers during the MOC process for these markets has now changed to $0.0025/gal every 30 seconds, from $0.0025/gal every 60 seconds previously.

Market participants have 30 seconds to repeat a bid or offer following a trade, compared with 60 seconds previously.

No price changes can be made after 1:29:00.000 pm Central Time.

In addition, any repeat of a bid or offer in the last 20 seconds prior to the 1:30 pm CT market close will trigger an extension state lasting one minute after the close.

The timing and increment changes take effect with the launch of eWindow instruments for Los Angeles pipeline in CARBOB and suboctane gasoline and their premium gasoline counterparts, as well as CARB diesel and ULSD (EPA) assessments.

This change was first proposed in a subscriber note published Feb. 8: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/020821-platts-proposes-to-change-los-angeles-diesel-gasoline-moc-timings-for-ewindow-launch.

Please send any further feedback to americas_products@spglobal.com and pricegroup@spglobal.com.

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