SUBSCRIBER NOTE: Proposed guideline changes for European gasoline cargoes

Effective November 19, 2015, Platts intends to launch gasoline CIF Northwest Europe gasoline cargoes, FOB Northwest Europe West African gasoline cargoes and FOB Mediterranean premium unleaded cargoes in the eWindow communication tool for its Market on Close assessment process.

Certain guidelines that are applied to publishing bids, offers and intentions to trade during the MOC process will be updated to reflect efficiencies associated with the addition of eWindow as a communication tool.

Platts proposes the following changes:

TIMING: The cut-off for placing bids or offers each day in eWindow will remain at 15:44:59:99 London time. For entities that choose to send bids and offers for publication to a Platts editor through other communication tools, the cut-off will also remain 15:44:59:99 London time.

INCREMENTABILITY: Bids and offers may be improved by up to $1/mt every 20 seconds, versus the current standard of up to $1/mt per minute. Repeat bids and offers should be communicated through eWindow within 45 seconds of a transaction being reported. For entities that choose to send bids and offers for publication to a Platts editor through other communication tools, bids and offers can improve by up to $1/mt per minute, as previously.

BID/OFFER FREEZE: For bids and offers published using the eWindow communication tool, there will be no price freeze, meaning that prices may change until the close of the MOC process at 16:30 London time. As previously, any bid or offer may be withdrawn so long as no interest to trade has been expressed. For entities that choose to send bids and offers for publication to a Platts editor through other communication tools, a freeze of two minutes after 16:27:59:999 London time will remain.

Please send any comments or questions to europe_products@platts.com and copy pricegroup@platts.com by November 16.

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.