SUBSCRIBER NOTE: Platts clarifies MOC guidelines for FOB AR E10 barges from Aug 5

Effective August 5, 2019 S&P Global Platts clarifies that bids, offers and intentions to trade will be published for E10 Eurobob gasoline barges on page 5 of Platts Global Alert in its MOC assessment process. E10 Eurobob gasoline barges will be added to the eWindow functionality at a later date.

Indications from market participants may be received by Platts via instant messenger, telephone or other acceptable means.

Headlines will be generated manually by Platts editors, and will typically include the standard prefix "~~ Platts Gasoline:".

Key guidelines are applied to publishing bids, offers and intentions to trade during the MOC process for E10 Eurobob gasoline barges, which are summarized below:

TIMING: The cut-off for placing bids or offers each day in the MOC will be 16:00:00 London time.

INCREMENTABILITY: Bids and offers may be improved by up to $1/mt every 60 seconds. Repeat bids and offers should be communicated to Platts within 60 seconds of a transaction being reported.

BID/OFFER FREEZE: From 16:28:00 onwards, Platts maintains a price freeze on published bids and offers until the close of the MOC process, during which changes in price may not be published. Transactional interest and repeats will continue to be published during the price freeze. As per standard Platts methodology, any bid or offer may be withdrawn at any time, so long as no interest to trade the indication has been expressed.

EXTENSION: To further test the repeatability of a transaction, when a repeat bid/offer is communicated to Platts between 16:29:40 and 16:30:00, a one-minute extension will apply for those repeated indications, with a market close extended to 16:31:00.

LAYCANS: Platts has standardized the way in which bids and offers are published in its MOC process for E10 Eurobob gasoline barges to fixed five-day periods within the 3-15 (Monday-Tuesday) or 5-15 (Wednesday-Friday) days forward assessment period. These are labeled progressively as: Front-end (FE), indicating the front five-day laycan; mid-window (MW), the middle five-day laycan; back-end (BE), the last five-day laycan.

For example, on Monday, August 5, the laycans reflected will be: FE (Aug 8 - Aug 12); MW (Aug 12 - Aug 16); BE (Aug 16 - Aug 20). On Thursday, August 8, the laycans reflected will be: FE (Aug 13 - Aug 17); MW (Aug 16 - Aug 20); BE (Aug 19 - Aug 23).

VOLUME: Platts will continue to publish bids and offers for the standard quantity of 1,000 mt reflected in the assessments. These can be expressed in multiples of up to 5 x 1,000 mt.

PRICING: Platts will continue to reflect outright pricing mechanism in gasoline barges

MOC CONTACT DETAILS: Market participants may find the following contact details useful for the MOC:

Telephone: +44 (0)20 7176 7881 ICE IM: Platts_EMEA_Gasoline Email: PL_LightendsEurope@spglobal.com 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.