NEW YORK, Nov. 4, 2019 /PRNewswire/ -- S&P Global Platts ("Platts"), the leading independent provider of information and benchmark prices for the commodities and energy markets, today announced the launch of Platts Trade Vision, a new data-submission tool to assist natural gas price submitters that voluntarily report price data to S&P Global Platts.
Platts Trade Vision is an online tool that offers price reporters a drag-and-drop interface, with instant confirmation that trades have been submitted. It simplifies the price submitting process from the manual, email approach relied upon for the past 15 years, offering the first major technology innovation for price submitters in more than a decade.
Simon Thorne, Global Director of Generating Fuels, S&P Global Platts said: We are pleased to launch Platts Trade Vision following market consultation as well as a successful beta test over the last two months. The beta tests confirmed Platts Trade Vision streamlines price submission workflow, while also offering increased data security, operational efficiency, and additional transparency into the Platts daily and monthly price assessment processes.
Benefits of Platts Trade Vision for North America natural gas price submitters include:
- Increased Security: leverages technology that is more secure for trade data submission than traditional methods (e.g. email), including drag-and-drop abilities within a secure web-based tool.
- Transparent View of Applied Methodology: enables users to see how market trades are mapped to Platts index locations.
- Permissioned Data Provider Access: offers access to internal and external audit personnel as needed.
The online tool is aimed at S&P Global Platts North America natural gas price submitters and related price-submission compliance functions, thereby aligning with regulatory requirements of a strict separation between commercial and back-office activities.
S&P Global Platts price references in natural gas have been recognized by the marketplace and industry as the North American benchmarks for approximately 30 years.
About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better-informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
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SOURCE S&P Global Platts