Platts to shorten US natural gas bidweek to three trading days starting Sept. 24

S&P Global Platts decides to shorten its bidweek trading period to three (3) days from five (5) days starting Sept. 24 for the October bidweek.

The decision to shorten the bidweek trading period starting with the October bidweek for both the preliminary and final Platts and ICE monthly indices was made after reviewing feedback from market participants. Platts originally proposed to implement the change beginning June 2021 bidweek. However, to give market participants and Platts price submitters enough time to make the required process changes, it will not begin until October 2021 bidweek that commences trading on Sept. 24.

The final trading day of bidweek will mirror the expiration of the NYMEX natural gas futures contract on the third to last business day of the month, outside of holiday exceptions.

To give Platts price submitters more time to process their bidweek trades, Platts is extending the reporting deadline to the end of Day 4, rather than the end of Day 3 as originally proposed.

Platts natural gas editors will assess values and contact price submitters for trade verification on Day 5.

The publication day for Final Platts and ICE monthly indices will not change. Platts will continue to publish the indices on the first business day of the month.

An updated 2021 bidweek trading schedule can be found at: https://www.spglobal.com/platts/en/our-methodology/methodology-specifications/natural-gas/us-and-canada-natural-gas-methodology

Please send any comments to americasgaspricing@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.