LNG
February 27, 2026
Platts proposes to change cut-off, increments and timing guidelines for Asia LNG derivatives MOC
Platts proposes to change the time cut-off for submission of bids and offers, as well as timing and increments guidelines for its Asia LNG Market on Close (MOC) derivatives assessment process, effective April 16.
Following an analysis of MOC data and market feedback, Platts proposes to adjust the timing cut-off for the submission and subsequent publication of bids and offers to 16.15.00.000 SGT, from the current 16:10:00.000 SGT.
Platts further proposes to allow counterparties to improve a maximum of 5 cents/MMBtu per 10 seconds for bids and offers submitted through the Platts Editorial Window, or eWindow, communication tool, and 5 cents/MMBtu per 20 seconds for bids and offers submitted through a Platts editor manually.
This compares with the current maximum of 5 cents/MMBtu per 20 seconds for bids and offers submitted through the Platts Editorial Window, or eWindow, communication tool, and 5 cents/MMBtu per 30 seconds for bids and offers submitted through a Platts editor manually.
In line with the proposed amendments, the maximum time allowed for participants to repeat a bid or offer following a trade in the Asia LNG derivatives MOC is proposed to be 10 seconds.
The following table summarizes the proposed changes:
| Category | Current | Proposed | Current | Proposed | |
| Product | Asia LNG Derivatives (JKM, WIM, and spreads) | ||||
| Environment | eWindow | Manual | |||
| Repeatability | Within 20 seconds | Within 10 seconds | Within 30 seconds | Within 20 seconds | |
| Pricing State – No more new bids/offers | 16:10:00.000 | 16:15:00.000 | 16:10:00.000 | 16:15:00.000 | |
| Final State | N/A | N/A | 16:29:30:000 | 16:29:30:000 | |
| Repeat/Change of an order which triggers extension of the window (extension trigger period) | 16:29:40.000 – 16:30:00.000 | 16:29:50.000 – 16:30:00.000 | 16:29:30.000 – 16:30:00.000 | 16:29:40.000 – 16:30:00.000 | |
| Period of testing the repeatability of an order repeated/changed near the close (Extension state) | 16:30:01.000 – 16:31:00.999 | 16:30:01.000 – 16:31:00.999 | 16:30:01.000 – 16:31:00.999 | 16:30:01.000 – 16:31:00.999 | |
| Max Increment/Frequency | 5 cents per 20 s | 5 cents per 10 s | 5 cents per 30 s | 5 cents per 20 s | |
Platts has established clearly defined timing and increment guidelines that apply when publishing bids and offers in the MOC, in order to ensure an orderly and transparent price assessment process.
Guidelines for the publication of bids and offers in the MOC are available in the Platts LNG Timing and Increment Guide, available here.
Please send all comments, feedback, and questions to LNGeditorialteam@spglobal.com and pricegroup@spglobal.com by March 15.
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.