SUBSCRIBER NOTE: Platts to modify Europe gasoil frontline calculation

Platts confirms that it will modify the calculation used for its European gasoil frontline outright derivative assessments from September 1, 2014. The new calculation, proposed on July 11, will use the Platts assessments at 16:30 London time of ICE gasoil inter-month spreads, instead of the ICE settlement values. ICE gasoil inter-year spreads, outright ICE gasoil values, ICE settlement values and other relevant information will be used as indications if there is no liquidity in the intermonth spread market. Frontline swaps are calculated using mean adjusted values for the number of trading days that each futures contract spends as the front month. This is done by calculating the exact number of trading days within each month, which will vary according to the calendar month. Platts welcomes any further feedback and questions to europe_products@platts.com, with a cc to pricegroup@platts.com. For written comments, please provide a clear indication if the 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.