Platts to launch Asia/open spread on eWindow for CFR Taiwan/China paraxylene Aug 26

Platts, part of S&P Global Commodity Insights, will launch new instruments for Asia/open spreads on the Platts Editorial Window communication tool for the Asia paraxylene CFR Taiwan/China Platts Market on Close assessment process from S&P Global, effective Aug. 26, 2022.

This will allow 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 will generate headlines on Platts Petrochemical Alert.

All Asia/open spread bids and offers will have to be submitted by 16:00:00 Singapore time.

Market participants submitting bids and offers directly through the eWindow communication tool will be able to improve their bids and offers by a minimum of 25 cents/mt every 30 seconds and a maximum of $1/mt every 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 reoffer. A one-minute extension period will be triggered by any price move or a rebid/reoffer in the last 30 seconds prior to the close of the MOC.

For bids and offers submitted through an editor, market participants will be able to improve their bids and offers by a maximum of 25 cents/mt every 60 seconds and a maximum of $1/mt every 60 seconds up to 4:28:00 pm Singapore time. A one-minute extension period will be triggered by any price move or a rebid/reoffer in the last two minutes prior to the close of the MOC.

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 that 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 process if any counterparty credit filters need to be modified.

Please send all feedback and comments to petchems@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.