Platts proposes to change timing, increment guidelines for Singapore gasoline derivatives MOC

S&P Global Platts is proposing to change the timing and increment guidelines for its FOB Singapore gasoline derivatives Market on Close process to allow a maximum price move of 10 cents/b per 20 seconds from Dec. 1, 2021, from 10 cents/b per 30 seconds currently, bringing it in line with the the FOB Singapore physical gasoline cargo MOC process.

In addition, Platts is also proposing to shorten the time allowed for participants to repeat a bid or offer following a trade to 30 seconds, from 60 seconds currently.

In the MOC process for FOB Singapore gasoline derivatives, all time-spread bids and offers will continue to need to be submitted by 16.15.00 hours Singapore time, and all outright bids and offers would continue to have to be submitted by 16.20.00 hours Singapore time.

A 60-second extension would still be triggered by any price move, or a rebid/re-offer, in the last 10 seconds prior to the close of the MOC at 16:30:00 Singapore time.

Platts has established clearly defined timing guidelines and standards of incrementability that apply when publishing bids and offers in the MOC process, in order to ensure an orderly and transparent price assessment process. Guidelines for the publication of bids and offers in the MOC process are available in the Platts Oil Timing and Increment Guide, available here: http://plts.co/fPWe30rAZxQ.

Please send comments and questions by Oct. 15, 2021, to asia_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.