OPIS and Trayport Sign for New Oil Product Trading Screens

Wednesday, March 15, 2017 5:13 pm EDT


"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"

Traders and brokers who seek efficient and transparent ways to buy, sell and price physical oil products can now employ a suite of new trading and price discovery screens following the signing of an agreement between OPIS, part of business information provider IHS Markit (Nasdaq: INFO), and London-based Trayport Ltd.

OPIS will leverage the high performance, executable trading screens that also provide instant price discovery using the OPIS450 methodology. OPIS450 assesses live-market bid, offered and traded value to create a price for each of the 450 minutes between 9 a.m. and 4.30 p.m. before averaging outright prices and differentials to provide new all-day and settlement-derived prices.

At International Petroleum (IP) Week in London, OPIS demonstrated new trading screens for diesel, gasoline and gasoil/heating oil, and also presented prices and trade tallies since January 2016, when OPIS launched the OPIS450 Jet Barge Market for Rotterdam and the surrounding region. Vitol, Lufthansa, Blue Oil, Nextstream, Mabanaft and Totsa are among those who have participated in the Trayport OPIS450 market in 2016, with a small but growing number of spot deals taking place throughout the year.

OPIS has delivered live pricing to key global markets since 2003 using an extensive range of OPIS price tickers. With the addition of an industrial-scale, independent trading platform from Trayport to a live-pricing methodology, OPIS450 has delivered all-day, exchange-style pricing to OTC physical markets for the first time.  

“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,” said Tim Wright, director - OPIS Europe. “In the days leading up to IP Week alone, we had three spot jet fuel trades, a new major European refiner participating in the screen, and further oil majors and brokers enquiring about registering to trade."

Learn more about OPIS450 at http://www.opis450.com

Pictured: Paddy Gourlay, executive editor, OPIS, at the OPIS450 seminar, held Feb. 20, 2017 in London.


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. 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)

Oil Price Information Service (OPIS), part of IHS Markit (Nasdaq: INFO), 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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