SUBSCRIBER NOTE: Platts to extend ICE Gasoil futures assessments at Singapore close

Platts confirms it will extend its existing suite of ICE gasoil futures outright price assessments for ICE gasoil futures at 16:30 Singapore time with effect from February 2, 2015. This is a slight delay from the previously announced launch date of January 2.

The new price assessments will cover the 36 granular months, 12 quarters, and three years forward from the date of publication.

Platts currently publishes ICE gasoil futures assessments at 16:30 Singapore time three months out.

Concurrently, Platts will change the naming convention used for these contracts in its Singapore close publications. Currently the first of these contracts is referred to as "Balance Month", while the second is referred to as "Month 1" and the third as "Month 2."

The first monthly futures was databased under ?Month 1? from the expiry of the previous contract to the end of the month preceding delivery, and under "Balance month" during the month of delivery until expiry.

Platts will change the names of the contracts to bring them in line with European industry standards so the first contract would be described as "Month 1", the second as "Month 2" and the third as "Month 3." The first monthly futures contract will be databased under "Month 1" from the expiry of the previous contract until expiry of the current contract.

Platts confirms it will discontinue the existing codes for the contracts databased under the old nomenclature and will launch new codes for the full suite of assessments.

In addition, Platts will also publish time-spread futures assessments for the 36 calendar months, 12 quarters, and three years within this period.

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