43Greater Speed for Platts NextGen MOC
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, to increase efficiency and reduce the operational load on S&P Global Platts’ price reporting staff responsible for MOC-related processes, and externally, to speed up the 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 the summer of 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 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.
Faster Publication of Key Assessments
- The new process enables S&P Global Platts to publish price assessments faster so that clients—whether they are in trading, risk, or operations—can take actions sooner.
* Amount of time varies by market