SUBSCRIBER NOTE: Guidelines for European jet fuel barges in eWindow from July 13

London (Platts)--25Jun2018/244 pm EDT/1844 GMT Effective July 13, 2018, S&P Global Platts intends to launch jet fuel barges loading FOB basis Flushing-Amsterdam-Rotterdam-Antwerp-Ghent barges in the eWindow communication tool for its Market on Close assessment process.

From that date, Platts will publish bids, offers and intentions to trade in its MOC process for jet fuel barges on the eWindow platform.

Indications from market participants received by Platts via instant messenger, telephone or other acceptable means will also be published on eWindow.

Headlines automatically generated by eWindow will appear on Platts Global Alert page 5, using new short-form language. Here is a typical example of an automatically generated headline: "Platts Jet Brg 2-3kt ICE LSGO M1 ARA FARAG FE2, Company A bids $30.00 for 1 lot of 2-3."

Company short-form names may appear differently.

Certain guidelines that are applied to publishing bids, offers and intentions to trade during the MOC process will be updated to reflect efficiencies associated with the addition of eWindow as a communication tool, which are summarized below:

TIMING: The cut-off for placing bids or offers each day in eWindow will be 16:05:00 London time. For entities that choose to communicate bids and offers for publication to a Platts editor, the cut-off will remain 16:00:000 London time to ensure sufficient time to analyze information before publication.

INCREMENTABILITY: Bids and offers may be improved by up to $1/mt every 20 seconds. Repeat bids and offers should be communicated through eWindow within 45 seconds of a transaction being reported. For entities that choose to communicate bids and offers for publication to a Platts editor, the manual incrementability rule of up to $1/mt per 60 seconds will apply.

BID/OFFER FREEZE: Platts maintains a brief freeze on published bids and offers at the close of the MOC process, during which changes in price may not be published, but any bid or offer may be withdrawn so long as no interest to trade the indication has been expressed. For bids and offers published using the eWindow communication tool, this freeze will be applied for one minute after 16:29:00 London time. For entities that choose to send bids and offers for publication to a Platts editor through other communication tools, a freeze of two minutes after 16:28:00 London time will remain.

LAYCANS: Platts has standardized the way in which bids and offers are published in its MOC process to any fixed five-day period within the 3-15 (Monday-Tuesday) or 5-15 (Wednesday-Friday) days forward assessment period. In the eWindow environment, these will be labeled progressively as: FE1; FE2; FE3; MW1; MW2; MW3; BE1; BE2; BE3.

On Wednesdays, Thursdays and Fridays, Platts will not publish BE2 and BE3 indications, as these would fall outside of the loading period reflected in the assessment.

For example: on Friday, July 13, the laycans reflected will be: FE1 (July 18-22); FE2 (July 19-23); FE3 (July 20-24); MW1 (July 21-25); MW2 (July 22-26) MW3 (July 23-27); and BE1 (July 24-28).

On Monday, July 16, the laycans reflected will be: FE1 (July 19-23); FE2 (July 20-24); FE3 (July 21-25); MW1 (July 22-26); MW2 (July 23-27); MW3 (July 24-28); BE1 (July 25-29); BE2 (July 26-30); and BE3 (July 27-31).

PRICING: Five typical pricing structures will be considered for bids and offers submitted for publication in the MOC process through the eWindow software. These are: (1) bids and offers expressed on an outright price basis; (2) bids and offers expressed as a Platts-related floating price to the Jet FOB Barge assessment; (3) bids and offers expressed as a Platts-related floating price to the CIF NWE Jet Cargoes assessment; (4) bids or offers expressed on an EFP basis versus the front-month (M1) ICE low sulfur gasoil futures contract; (5) bids or offers expressed on an EFP basis versus the second-month (M2) ICE low sulfur gasoil futures contract.

VOLUME NOMINATION: Buyers may continue to nominate volume upon confirmation of a trade, and will have 30 seconds to do so, whether their bid is hit by a seller or they lift an offer, in the eWindow communication environment. If a volume is not nominated by the buyer within 30 seconds, a default quantity of 2,000 mt (2.0 kt) will apply. Volume nominations can be specified to the nearest 10 mt, for example 2,750 mt (2.75 kt). Nominations should be confirmed using the eWindow volume nomination box or via instant messenger, telephone and other communication means for offline buyers.

Please send any comments or questions to europe_products@spglobal.com and copy 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.