Wednesday, November 16, 2005

To all Platts Subscriber!

To further enhance transparency in the Asian products assessment window, Platts will be adhering to the following timing standardsfor physical distillates and fuel oil, plus associated derivatives for publication on Platts Global Alert (PGA) page 190. The new standards will come
into effect Dec 1, 2005.
 
- Initial physical cargo bid and offers should be submitted no later than 16:00:00 local Singapore time. Platts will consider incremental price changes made to physical bids and offers up to, but no later than, 16:25:00 local Singapore time.
 
- Initial spread bids and offers in the swaps markets should be submitted no later than 16:15:00 local Singapore time. The cut-off is applicable to spreads including jet/gasoil regrade, 180/380 CST viscosity and time spreads. Platts will consider incremental price changes made to spreads up to 16:30:00 local Singapore time. 
 
- Initial outright swaps bids and offers (eg. December paper) should be submitted no later than 16:20:00 local Singapore time. Platts will consider incremental price changes made to outright swaps positions up to 16:30:00 local Singapore time.
 
Any open bid or offer published on PGA 190 should be executable by any credible and creditworthy company. Please note that all submissions are firm and those changes expressed too close to the current 17:30:00 time cut-off will be subjected to the customary three minute extension to enable executability. The time extension will also apply in the planned earlier close
of 16:30:00 Singapore time. For questions & comments contact paul_young@platts.com, jimmy_ang@platts.com and jorge_montepeque@platts.com

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