SUBSCRIBER NOTE: Proposal to cut freeze time on Singapore middle distillates, HSFO MOC

Platts proposes to reduce the freeze period that currently prevails for the last five minutes of the Market on Close assessment process for FOB Singapore gasoil, jet fuel and high sulfur fuel oil, following feedback from market participants. Platts proposes to make this change with effect from August 1, 2016.

Currently, final changes to bids and offers must be submitted for publication by 16:25:00 Singapore time (08:25:00 GMT). Bids and offers must stand for five minutes of the assessment process, and can be withdrawn at any time, so long as no other potential trading counterparty has indicated that it has interest to buy or sell into the bid/offer.

Under the proposed change, Platts will accept changes to bids and offers for FOB Singapore gasoil, jet fuel and high sulfur fuel oil up to the final one minute, at 16:29:00 Singapore time.

Improvements to bids or offers would be maintained at a maximum of or 10 cents/b price move per 60 seconds or $1/mt price move per 60 seconds, and a 60-second extension would be triggered by any rebid/re-offer in the one minute prior to the close of the MOC at 16:30:00 Singapore time.

Platts will consider reviewing both increments and extensions.

Please send comments and questions by July 1, 2016 to asia_products@platts.com and pricegroup@platts.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.