Platts to launch Asia LNG derivatives eWindow on June 26, 2020

S&P Global Platts will launch the Platts Editorial Window, or eWindow, communication tool for its Asia LNG derivatives Market on Close assessment process on June 26, 2020.

Participants in the Platts MOC assessment 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.

Timing and increments

From June 26, 2020, participants may improve the price of their published bids and offers by a minimum of 1 cent/MMBtu and a maximum of 5 cents/MMBtu every 60 seconds when reporting their indications directly through eWindow. For bids and offers reported to Platts editors, buyers and sellers may improve the price every 120 seconds, as per current incrementability standards in the manual process.

The cutoff to register new price indications in the Platts derivatives MOC will be 16.09.59.59 Singapore time and final state will be 16:29:00:00. Buyers and sellers will also have maximum of 60 seconds to repeat a bid or offer following a trade.

A 60-second extension will be triggered in the event a repeat bid or offer is made in the last 60 seconds of the MOC.

As per Platts editorial guidelines, buyers or sellers can withdraw bids or offers at any time, provided no prior interest to transact has been expressed by any potential counterparty.

All bids and offers are firm from the moment submitted into Platts eWindow to the moment they are traded, the eWindow period closes, or the bid/offer order is withdrawn from the system by the trader or by a Platts editor.

Credit and trading terms

Platts expects credit relationships that prevail within its assessment environment to fully reflect relationships in the markets as a whole. Where Platts editors publish bids and offers on behalf of a company that submits data to an editor, counterparty credit settings are set to "open" for regular participants in the assessment process unless companies have notified Platts in advance of any restrictions.

If a counterparty submitting information through an editor has not already notified Platts of any counterparty credit restrictions, they should notify Platts at least one hour prior to the start of the MOC process if any counterparty credit filters need to be modified.

The eWindow provides direct entry and management of credit filters which should mirror those normally applied in the marketplaces. Platts provides training to participants interested in learning more about the use of the software.

For more information on Platts JKM LNG prices and how they are assessed, please visit:

http://www.platts.com/IM.Platts.Content/MethodologyReferences/MethodologySpecs/lngmethodology.pdf

Please send any comments, questions or feedback to LNGeditorialteam@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.