The various components of this guide are designed to give Platts subscribers as much information as possible about a … It’s a benchmark that is on the water, internationally connected and free from domestic infrastructure economics – bringing the US market a Brent of its own. This can include canvassing brokers, traders, producers, distributors and end-users. Near the end of How does this process lead to the development of a price assessment? At the same time, Platts assessments seek to give priority to data that meets its editorial standards and aim to reflect realistic spreads between markets and products. The MOC process was launched by Platts in Asia in 1992, in Europe in 2002, and in North America in 2006. To prevent distortion of the final price assessment, they may eliminate bids, offers and other market information that cannot be verified as meeting Platts’ stated guidelines. Products & Services Services Oil LNG Natural Gas Electric Power Coal Shipping Petrochemicals Metals Agriculture. 016 Platts Caribbean Product Assessments (now on 560) 050 Platts Gulf Coast Fuel Oil No. These guidelines are rooted in certain principles that maintain the integrity of the MOC process, and thus the quality of Platts’ price assessments. A Platts assessment is the product of a market survey and the application of strict methodological rules to determine the repeatable tradable price range for a commodity during the assessed period. Companies that have not submitted bids or offers, however, may choose to accept a bid or an offer posted through the MOC process. 6 Assessments (now on 530) 057 US West Coast waterborne assessments (now on 550) They can be major international and national oil companies, independent trading houses, financial institutions and end-users such as airlines and utilities, or entities acting on their behalf. However, the majority of participants are subscribers to Platts Global Alert (PGA), the company’s real-time news and price information service for the oil industry. Subscribe to read industry news and view market pricing, fundamental data and more. ACCESS ANALYTICS HUB . Platts believes that price is a function of time, and that, in the oil and refined products markets – just like the stock markets – the most useful price for the day is the value at the close of the market. Buyers and sellers use them as a basis for pricing spot transactions and term contracts; risk managers use them to settle contracts and to place a market value on the product they hold; and analysts use them to identify trends and patterns in supply and demand. This allows the universe of potential buyers and sellers to be far larger than the number of companies that have posted bids and offers. Throughout the day, Platts editors are in constant contact with MOC participants. Do all companies have to take part in the MOC? Our website uses cookies to ensure that we give you the best experience on … These guidelines, which are detailed in Platts’ methodology documents and published on www.platts.com, relate to various factors such as product specification, location, cargo size, and delivery terms. Enter your search term here... Search FAQs; System notification; Complaints; Conference & Events; Software & user manuals; Contact us; Platts Website. Platts applies the same methodology in the US for assessing the value of NYMEX futures at precisely 3:15 pm ET as it does in the assessment of spot crude oil and products markets. The “Window” is not to be confused with the MOC process itself. Further, to ensure orderly price formation, participants must follow strict standards regarding increment levels for each change in a bid or offer, and the timing of those changes. Following the close, Platts editors examine the data gathered through the day, conduct their analysis and develop price assessments that reflect an end-of-day value. Assessment typically aims to zero in on these typical transactable levels by discarding unrepresentative market information (out-of-market bids, offers and transactions), and the process … They also take into account product specifications, cargo size, and other factors detailed in the methodology for each commodity or product. Find out more about our methodologies for oil, gas, metals, petrochemicals, coal, agriculture and shipping here. Also, Platts requires that the data submitted reflect actual verifiable transactions and/or bids and offers that are “firm,” open to the market at large, and therefore executable. Program focuses on the principle that price is a leading global provider Energy. Seeks to survey as broad a cross-section of the move toward decarbonization markets where price can. 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