LNG
March 25, 2026
Platts extends feedback period for proposed change to increment and timing guidelines for Asia LNG derivatives MOC
Platts, part of S&P Global Energy, is extending the feedback period for its proposal to change the timing and increment guidelines for the Asia LNG derivatives Platts Market on Close assessment process to April 16.
The proposed launch date of April 16 has been revised to May 18 following the extension of the feedback period.
Platts first proposed the changes Feb. 27 in a subscriber note available here, with the initial feedback period ending March 16.
The extension of the feedback period and revision of the proposed launch date follow a shift in market volatility due to vessel transit issues via the Strait of Hormuz. On March 6, 2026, Platts changed the incrementability guidelines for Asia LNG derivatives to allow bids and offers to improve by up to 10 cents/MMBtu every 10 seconds, until further notice.
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 Singapore time, from the current 16:10:00:000 SGT.
Platts further proposes to allow counterparties to improve bids and offers by a maximum of 5 cents/MMBtu per 10 seconds when submitted through the Platts Editorial Window, or eWindow, communication tool, and by 5 cents/MMBtu per 20 seconds when submitted manually through a Platts editor.
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 manually through a Platts editor.
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 their spread) | ||||
| 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/20 s | 5 cents/10 s | 5 cents/30 s | 5 cents/20 s | |
Platts has established clearly defined timing and increment guidelines that apply when publishing bids and offers in the MOC 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 April 16.
For written comments, please provide a clear indication if they are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make those not marked as confidential available upon request.