OPIS Launches Full Range of Middle Distillate Trading Screens for European Barge Market

LONDON (June 7, 2017) – Oil product traders in Europe will, for the first time, be able to post orders for Ultra Low Sulfur Diesel (ULSD), marine diesel and heating gasoils on an all-day trading and pricing platform designed to take full account of bids, offers and trades from 9:00 am to 4:30 pm GMT, announced OPIS, a unit of business information provider IHS Markit (Nasdaq: INFO).

Since its January 2016 launch in the European jet barge market, the OPIS450 trading and live price discovery platform has attracted participants from a variety of companies such as Totsa, Gunvor, KLM, Mabanaft, Lufthansa, Noble and Vitol.

“The feedback from this first OPIS450 Jet fuel trading screen has been really good over its first year, and the pricing that results has proven to be robust”

A solid first year for the OPIS450 platform led to traders asking OPIS to expand its offer into Marine Diesel Fuel A, a market that was launched earlier this year. The platform is hosted using software developed and maintained by Trayport Ltd.

With the addition of ULSD and 1000ppm and 50ppm sulfur heating oils, full-day trading screens are now available for the full middle distillate oil product slate, with associated pricing reports being rolled for each new market in turn.

Named OPIS450 after the 450 one-minute marks averaged between 9:00 am and 4:30 pm, the platform provides a new and robust alternative to market close pricing, one which captures not a snapshot, but highs, lows and the market corrections which follow as markets rebalance. The 450 price marker approach means that contracts indexed to OPIS450 effectively reference nearly 10,000 price marks a month, rather than the 22 in a typical market on close index.

The OPIS450 approach generates outright prices based on differentials and futures pricing each minute of the day, or an OPIS450 product differential which can be added to the day's LS Gasoil Settlement at 4:30 pm.

Traders or brokers who actively trade the ARA barge market can apply for one of a limited number of free 2017 seats for the trading screen, with priority given to subscribers to OPIS Europe reports.

For further information on any of these services, to provide feedback, or to request to be added to the OPIS450 Barge Market screens on Trayport, contact any of the following OPIS staff:

Paddy Gourlay
Executive Editor, Europe
pgourlay@opisnet.com
+44 7595 117236

Tim Wright
European Director
twright@opisnet.com
+46 701750001

Simon Pratt
Sales Director, Europe
spratt@opisnet.com
+44 7977 412619

Learn more about OPIS450.

 


About IHS Markit (www.ihsmarkit.com)
IHS Markit (Nasdaq: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 key business and government customers, including 85 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.

IHS Markit is a registered trademark of IHS Markit Ltd and/or its affiliates. All other company and product names may be trademarks of their respective owners © 2017 IHS Markit Ltd. All rights reserved.

About Oil Price Information Service (www.opisnet.com)
OPIS, an IHS Markit (Nasdaq: INFO) company, is one of the world's most comprehensive sources for petroleum, LPG/NGL, jet fuel and biofuels pricing and news information with offices in the U.S., Europe and Singapore and is the most widely accepted U.S. fuel price benchmark for supply contracts and competitive positioning.

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