Platts adds KEBCO crude eWindow functionality to Mediterranean crude MOC

Platts, part of S&P Global Commodity Insights, has added eWindow functionality for its Kazakh Export Blend assessments to the Mediterranean crude Market on Close assessment process.

Participants in the MOC process are able to submit bids or offers for publication directly through the eWindow communication tool, or do so through an editor who will then publish the bids and offers using the software.

Participants are able to submit bids or offers for publication on a flat price or Platts Dated Brent basis.

Bids and offers submitted for publication via the eWindow functionality are on a cost-insurance-freight (CIF) Augusta or Rotterdam basis. A volume of 80,000 metric tons is reflected in the grade's assessment.

Platts has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers in the MOC to ensure an orderly and transparent price assessment process.

TIMING: All bids and offers for eWindow must be submitted by 15:45:00 London time.

Following any trade, market participants have one minute to rebid or reoffer.

No price changes are allowed in the final five minutes of the MOC, which closes at 4:30:00 pm London time.

INCREMENTABILITY: Bids and offers may be improved by a minimum of $0.01/b every 60 seconds, or a maximum of $0.05/b every 60 seconds.

As per S&P Global editorial guidelines, market participants can withdraw a bid or offer from the MOC at any time, so long as no other potential trading counterparty has indicated interest to buy or sell into the bid/offer.

The eWindow provides direct entry and management of credit filters which should mirror those normally applied in the marketplaces.

Guidelines for the publication of bids and offers in the MOC are published in the Oil Timing and Increment Guide available here:

www.spglobal.com/platts/en/our-methodology/methodology-specifications/oil/oil-timing-and-increment-guidelines.

An overview of Platts assessments methodology including the MOC can be found here: www.spglobal.com/platts/plattscontent/_assets/_files/en/our-methodology/methodology-specifications/platts-assessments-methodology-guide.pdf.

Any entities interested in participating in the MOC for KEBCO crude should refer to: www.spglobal.com/platts/en/our-methodology/participation-review.

Platts provides training to participants interested in learning more about the use of the eWindow software.

Please send all feedback, comments or questions to europe_crude@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 to the public upon request.