Platts clarifies MOC timing, increment guidelines for EMEA LPG barges

S&P Global Platts would like to clarify its timing and increment guidelines for the European LPG barge Market on Close assessment process.

The MOC timing and increment guidelines are aimed at bringing greater clarity, order and transparency to the assessment process.

This information is published in real-time, as it is received, on Platts information services.

Platts endeavors to publish all information received that meets Platts editorial standards, so that it can be fully tested by the market at large.

When determining a final market assessment, Platts gives the greatest priority to fully verifiable and transparent market information.

The following timing and increment guidelines would apply to the MOC process for Propane FOB ARA (PMAAS00) and Butane FOB ARA (PMAAC00) barge assessments.

TIMING & INCREMENTS: Market participants must submit any bids or offers with complete information for publication in the MOC process by 16:00:00 London time.

Published bids and offers may be improved by up to $1/mt every 60 seconds.

Participants may change the price of their bids or offers by a minimum of 25 cents/mt.

No price changes will be allowed in the final two minutes of the MOC, which closes at 16:30:00 London time.

Participants may withdraw their bids or offers at any time during the MOC by communicating that to Platts editors, so long as interest to trade against the published bid or offer has not already been received by Platts.

Counterparties must clearly communicate their interest to trade a published bid or offer to Platts editors, and counterparties are expected to promptly report resultant confirmed transactions to Platts.

Following a trade, market participants will have 60 seconds to repeat their bid or offer.

If there is a change in price to a standing bid or offer, or a rebid or reoffer following a trade, in the last 20 seconds before the close, that triggers an extension state.

The extension state will last for one minute to ensure that any last-minute changes can be fully tested by the market at large.

Please send any comments or questions 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 upon request.