Platts changes incrementability for Singapore gasoil, jet fuel derivatives MOC June 1

Platts, part of S&P Global Commodity Insights, has changed the increments for its Market on Close assessment process for Singapore gasoil and jet fuel derivatives to a maximum of 10 cents every 10 seconds for flat price bids and offers with effect from June 1, 2022, up from a previous maximum of 10 cents every 20 seconds.

The change brings the Singapore gasoil and jet fuel derivatives increments more in line with other Asian refined product and crude derivative MOCs.

In addition, Platts has also changed the increments for Singapore middle distillate time spread and regrade spread bids and offers to a maximum of 5 cents every 10 seconds from June 1, from a previous maximum of 10 cents every 20 seconds.

Platts first proposed this change in a subscriber note published April 12: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/041222-s-p-global-proposes-to-change-incrementability-for-singapore-gasoiljet-fuel-derivatives-moc

All other MOC timing and increment guidelines remain unchanged. For example, market participants still have 20 seconds to repeat a bid or offer, following a trade. An extension continues to be triggered by any price move or a rebid/reoffer in the last ten seconds prior to the close of the MOC at 4:30 pm Singapore time (0830 GMT).

Please send any further feedback, comments or questions to asia_oilproducts@spglobal.com and pricegroup@spglobal.com.

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