Platts to launch RVP implied spreads on USGC gasoline eWindow from Aug. 24

Platts, part of S&P Global Energy, will launch RVP implied spreads functionality on eWindow for its Market on Close assessment process for US Gulf Coast gasoline, effective Aug. 24, 2026.

This functionality will be automatically applied to any bids or offers in the USGC Colonial Pipeline gasoline MOC for different RVP levels on the same grade.

The additional functionality means that bids and offers for gasoline with different RVPs but on the same grades will automatically generate "implied" bids or offers. Participants will also be able to publish bids or offers through the implied instruments. An RVP implied bid or offer represents the price spread between different RVP levels of the same grade of gasoline.

For example, a bid for 10 psi RVP CBOB 87 (A2) gasoline and an offer for 12.5 psi RVP CBOB 87 (A3) on the same Colonial Pipeline cycle will generate an implied A2/A3 spread on the Platts eWindow software. Implied bids and offers on eWindow will not generate headlines on Platts Global Alert but will be visible via the eWindow communication tool. In the event that an implied bid or offer is traded, a headline will be generated with the prefix "IMPLIED" and detailing each leg and counterparty of the resultant trades.

An expression of interest to trade an implied bid or offer will result in one or more trades taking place on the related instruments that resulted in the implied bid or offer.

Expressions of interest to trade an implied bid or offer communicated to an editor may not be published if prevailing credit filters do not allow interest to be marked.

In February 2025, Platts launched implied spreads functionality on eWindow for different grades trading on the same cycle.

Platts provides training to participants interested in learning more about the use of the implied eWindow functionality. Any interested participants can contact ewindow@spglobal.com for training requests.

Further information is available in this FAQ document.

Please send any comments or questions to americas_products@spglobal.com, pricegroup@spglobal.com and market_integrity_review@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.