Platts proposes changes to incrementability guidelines for European LPG priced as percentage of naphtha from June 3

Platts, part of S&P Global Commodity Insights, is proposing to change the timing and increment guidelines for its European LPG Market on Close assessment process, effective June 3, 2024, in line with the launch of percentage of naphtha pricing functionality on the Platts Editorial Window (eWindow) communication tool at the same time.

Platts currently publishes bids and offers where pricing is wholly or partly based on a percentage of naphtha as manual headlines in the MOC for European LPG. From June 3, participants in the MOC will be able to submit bids and offers based on a percentage of naphtha for publication directly through the Platts eWindow communication tool or through an editor, who would then publish bids and offers using the software.

This new functionality applies to the following assessments:

• Platts Butane CIF NWE Large Cargo (PMAAK00)

• Platts Butane CIF NWE Seagoing Coaster (PMAAJ00)

• Platts Butane FOB NWE Seagoing Coaster (PMAAL00)

• Platts Butane FOB ARA Barge (PMAAC00)

• Platts Butane FOB West Med Seagoing Coaster (PMAAM00)

Currently, manual bids and offers where pricing is wholly or partly based on a percentage of naphtha are able to increase by a maximum of 0.25% and a minimum of 0.1% of CIF NWE naphtha every 60 seconds. Following the launch of percentage of naphtha pricing functionality on eWindow, Platts is proposing to increase the minimum increment to 0.25% of CIF NWE naphtha every 60 seconds, while the maximum increment will remain at 0.25% of CIF NWE over the same time period.

The proposed changes will not impact existing timing and incrementability standards for outright and floating bids and offers published in the MOC.

Platts has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers in the MOC to ensure an orderly and transparent price assessment process, which can be found here: https://www.spglobal.com/commodityinsights/en/our-methodology/methodology-specifications/oil/oil-timing-and-increment-guidelines

Please send any comments or questions by May 10 to europe_products@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 to the public upon request.