SUBSCRIBER NOTE: Guidelines for FOB ARA DMA barges in eWindow from July 15

Effective Monday, July 15, 2019, S&P Global Platts has launched FOB Amsterdam-Rotterdam-Antwerp (ARA) marine gasoil barges of ISO 8217:2010-F-DMA specification on the eWindow communication tool for its Market on Close assessment process.

Platts originally launched the FOB ARA DMA barge assessment on June 1, 2019, the subscriber note for which can be found here: https://www.spglobal.com/platts/en/our-methodology/subscriber-notes/060319-pl atts-publishing-fob-ara-01-sulfur-dma-spec-mgo-barge-assessment

Platts now publishes bids, offers and intentions to trade in its MOC process for DMA barges on the eWindow platform.

Indications from market participants received by Platts via instant messenger (to be communicated to Platts_EMEA_LSFO), 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 0.1 DMA Brg 1-3kt ICE LSGO M1 ARA MW, Company A bids $-50.00 for 1 lot of 1-3."

Company short-form names may appear differently.

Guidelines applicable for publishing bids, offers and intentions to trade during the MOC process through the eWindow tool 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a brief freeze on published bids and offers at the close of the MOC process, during which changes in price may not be published, but any bid or offer may be withdrawn so long as no interest to trade the indication has been expressed.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.

VOLUME NOMINATION: In the eWindow communication environment, buyers have 30 seconds to nominate size upon confirmation of a trade.

If a size is not nominated by the buyer within 30 seconds, a default quantity of 2,000 mt applies.

This corresponds to the most widely traded size in the market. Size nominations can be specified to the nearest 100 mt.

Nominations should be confirmed using the eWindow size nomination box or other communication means.

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 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.