Platts to launch implied spreads on eWindow for Singapore gasoline derivatives July 9

S&P Global Platts will launch implied spreads functionality on eWindow for its Market on Close assessment process for FOB Singapore gasoline derivatives from July 9, 2021.

This functionality means that bids and offers for outright price FOB Singapore 92 RON gasoline and 95 RON gasoline, as well as intermonth and product spreads may result in the generation of additional "implied" bids or offers.

An implied bid or offer represents the value for a specific instrument, as implied by bids and offers for related instruments.

For example, a bid for a July 92 RON derivative, and an offer for August 92 RON derivative, will generate an implied bid for the July/August 92 RON derivative 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Expressions of interest to trade an implied bid or offer communicated to an editor may not be published if prevailing credit filters do not allow for a "mark interest" to be enacted.

This functionality will be automatically applied to any bids or offers in the FOB Singapore 95 RON/92 RON derivative MOC process.

Further information is available in an FAQ document.

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