Platts to migrate Asia crude cargo MOC process to new eWindow platform

S&P Global Platts will migrate the Asia Market on Close assessment process for full cargoes of crude oil to a new eWindow platform effective May 4, 2020.

Platts has observed greater liquidity in transactions for full crude cargoes in its Asia MOC process with a total of 24 trades reported in the first quarter of 2020, after 29 cargo trades reported in all of 2019. The new eWindow platform will allow market participants greater flexibility in submitting their bids, offers and trades for full cargoes for publication in the MOC process.

The migration does not apply to the MOC process for Middle East crude partials that is used to assess benchmark Platts Dubai and Oman crude oil prices.

The Platts Asia crude MOC process is facilitated by Platts Editorial Window or eWindow, an online data-entry and communications tool, which brings greater speed, transparency and efficiency to the price assessment processes.

Effective May 4, companies may submit bids, offers and trades for full cargoes of the following crude grades electronically on the new eWindow platform on an FOB basis or DES basis Singapore, Yeosu or Qingdao: Dubai, Oman, Upper Zakum, Al Shaheen, Murban, Das Blend, Umm Lulu, Qatar Land, Qatar Marine, Banoco Arab Medium, Basrah Light and Basrah Heavy.

Companies may also submit bids, offers and trades for full cargoes of the following crude grades on DES basis Singapore, Yeosu or Qingdao: WTI Midland, Lula, Urals and Johan Sverdrup.

The existing timing and increment guidelines for full cargoes in the Asia MOC will continue to apply to bids, offers and trades on the new eWindow platform. Platts timing and increment guidelines are a key component of its MOC assessment methodology, essential to an orderly and transparent price discovery process.

Platts expects credit relationships that prevail inside its MOC environment to fully reflect relationships in the market as a whole.

Market participants may reach out to eWindow_sing@spglobal.com for additional training and help with managing their ICE eWindow portfolios or credit settings.

Please send all comments or questions to asia_crude@spglobal.com and 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.