Platts reminds counterparties to adhere to terms of trade published in MOC process

Platts, part of S&P Global Commodity Insights, would like to remind market participants that it expects counterparties involved in a trade published in the Platts Market on Close assessment process to adhere to the terms of the published trade.

MOC trade performance is paramount and all transactions should be performable within the contractual parameters.

Platts is aware that physical conditions regarding logistics or other operational issues that are beyond the control of the seller or buyer may result in lateness, quality issues or conditions seen as a deviation from the original wording in the reported trade. Platts is also aware that counterparties may consider booking out trades reported through the MOC process as a potential option under exceptional circumstances.

Platts may review any changes to the published parameters of a trade, and the circumstances leading to that, even if there is mutual agreement between counterparties.

Platts will take appropriate steps to ensure the integrity of its MOC process and assessments, should issues of non-performance arise.

Please send all comments and questions 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.