Greater Speed for Platts Market on Close

Kensho collaboration nets a faster, more efficient price assessment process

S&P Global Platts publishes thousands of daily price assessments across the commodity markets. Starting in 2019, S&P Global Platts editors collaborated with Kensho’s data scientists to increase Platts’ competitive advantage by applying Kensho’s innovative technological capabilities to the Platts Market on Close (MOC) process. The objectives were two-fold: internally, increase efficiency and reduce operational load on S&P Global Platts’ price reporting staff responsible for MOC-related processes, and externally, speed up publication of S&P Global Platts’ price assessments to allow clients to make trading decisions and other actions sooner. Initial customer trials commenced in key markets in summer 2020.

  • Starting in 2019, S&P Global Platts editors collaborated with Kensho’s data scientists to see if it was possible to shorten the average two-hour timespan between the market’s close and the publication of price assessments.

Kensho-Powered Process

  • Kensho built aggregation and instant-summarization tools to collate pricing data from eWindow and other sources. This process quickly presents market participant data to Platts editors, who then apply their editorial judgment and assess market value.

Instant summarization tools collate pricing data999897969594979695949392929190898887

Faster Publication of Key Assessments

  • The new process enables S&P Global Platts to publish price assessments faster so that client—whether they are in trading, risk, or operations—can take actions sooner.

Assessments published 30 minutes after MOCMarket closePAST: 2 hours

  • What is Platts Market on Close (MOC)?
  • The MOC is the process S&P Global Platts editors use to assess prices for markets including crude oil, petroleum products, and related swaps. The MOC is a highly transparent process in which bids, offers, and transactions are submitted by participants to S&P Global Platts editors and published in real time throughout the day until the market close. Following the close, S&P Global Platts editors examine the data gathered through the day, conduct their analysis, and develop price assessments that reflect an end-of-day market value.

S&P Global Platts and Kensho streamlined the publication of commodity price assessments, which allows clients to make trading decisions sooner