Platts launches Asia/open spreads on eWindow for CFR Taiwan/China paraxylene Aug. 26

Platts, part of S&P Global Commodity Insights, has launched new instruments for Asia/open origin spreads on the Platts Editorial Window, or eWindow, communication tool for the Asia paraxylene CFR Taiwan/China Market on Close assessment process on Aug. 26, 2022.

This allows market participants to directly submit bids and offers for Asia/open spreads in the Asian paraxylene MOC, through the eWindow communication tool or through an editor, who would then publish the information using the software.

Bids and offers for the Asia/open spreads generates headlines on Platts Petrochemical Alert.

All Asia/open spread bids and offers have to be submitted by 16.00.00 Singapore time.

Market participants submitting bids and offers directly through the eWindow communication tool are able to improve their bids and offers by a minimum of $0.25/mt per 30 seconds and a maximum of $1/mt per 30 seconds right up until the close of the MOC at 4:30:00 pm Singapore time. Following any trade, there will be 30 seconds to rebid or re-offer. A one-minute extension period will be triggered by any price move or a rebid/re-offer in the last 30 seconds prior to the close of the MOC.

For bids and offers submitted through an editor, market participants are able to improve their bids and offers by a minimum of $0.25/mt per 60 seconds and a maximum of $1/mt per 60 seconds up till 4.28.00 pm Singapore time. A one-minute extension period will be triggered by any price move or a rebid/re-offer in the last two minutes prior to the close of the MOC.

Platts first announced the planned launch in a subscriber note published Aug. 11: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/081122-platts-to-launch-asiaopen-spread-on-ewindow-for-cfr-taiwanchina-paraxylene-aug-26.

Guidelines for the publication of bids and offers in the MOC are available in the Platts Petrochemicals timing and increments guidelines, available here: https://www.spglobal.com/commodityinsights/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/petrochemicals-timing-increment-guidelines.pdf.

Full information relevant to these assessments can be found in the Asia-Pacific Petrochemicals guide here: https://www.spglobal.com/platts/PlattsContent/_assets/_files/en/our-methodology/methodology-specifications/asia_pacific_petrochemicals.pdf.

Platts expects credit relationships that prevail inside its assessment environment to fully reflect relationships in the markets as a whole.

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

Where Platts editors publish bids and offers on behalf of a company that submits data to an editor, counterparty credit settings are set to "open" for regular participants in the assessment process unless companies have notified Platts in advance of any restrictions.

If a counterparty submitting information through an editor has not already notified Platts of any counterparty credit restrictions, it should notify Platts at least one hour prior to the start of the MOC if any counterparty credit filters need to be modified.

Please send all feedback and comments to petchems@spglobal.com and pricegroup@spglobal.com.

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