LONDON, Jan. 20, 2015 /PRNewswire/ -- Platts, a leading global energy and commodities information provider has expanded its commodity risk solutions portfolio to include forward curves* for a range of aromatic petrochemicals through two products, each produced for Asia, North America and Europe.

"This is a natural extension to our existing offering of forward price curves in oil, natural gas, coal and electric power," said Paul Waine, Platts global director of commodity risk solutions. "We're pleased to provide the petrochemicals marketplace with an independent source of data that gives insight into the current price for contract delivery up to 24 months forward, which will support purchase and sale decision making, fair value** financial reporting and price risk management activities."

Via Platts Forward Curves-Petrochemicals (PFC-Petchems), subscribers will have access to forward curves that are based on Platts' long-established Market-On-Close (MOC) price assessment process and reflective of open market values at the close of every trading day in Asia, Europe and North America. The product includes 40 forward curves, spreads and differentials on a regional basis; and forward prices for key petrochemical inputs. Price data is provided in half months, months and quarters.

PFC-Petchems' coverage includes the following:

    --  Benzene
    --  Naphtha
    --  Paraxylene
    --  Toluene
    --  Isomers
    --  Styrene
    --  Brent
    --  Propane
    --  Mixed Xylene

Companies with exposure to commodity prices typically utilize forward price curves as references for valuing contractual assets and liabilities, measuring profit and loss resulting from changes in market prices and making better informed risk management decisions.

In addition to the petrochemicals forward curves based on Platts' open market price discovery processes, the petrochemical industry now has access to the only 24-forward-month benzene price curves as derived by quantitative model, based on Platts editorial market knowledge and extensive database of historical market prices. The new model-based curves are available via M2M-Benzene, an add-on option to PFC-Petchems. These model-derived values reflect the observed market price relationships between benzene and related crude oil and refined products.

The combined offering of price curves based on open-market price discovery processes and by quantitative model facilitates the industry's need for price references that meet a variety of purposes, including accounting activities in line with the U.S. generally accepted accounting principles (GAAP) and the International Accounting Standards Board's international financial reporting standards (IFRS).

The regional PFC-Petchems and M2M-Benzene products are available through Platts Market Data.

Full details of Platts' structured MOC methodology may be found at the following link: http://www.platts.com/methodology-specifications/petrochemicals. Access details of the M2M Benzene quantitative forward curve model here: http://www.platts.com/products/m2m-benzene.

Through its risk management data services, Platts provides clients with a full and independent view of forward price assessments for natural gas, power, oil, and coal in regions around the world. In addition to more than 400 forward curve price assessments, Platts publishes more than 20,000 benchmark price assessments, references and indexes in energy, petrochemicals, metals and agriculture on a daily basis.

For more information on Platts oil forward curves, natural gas forward curves, power forward curves, coal forward curves, risk management data and other products and services visit the Platts website at www.platts.com.

*A forward price is the price today for an obligation to buy or sell on a specific date in the future. A forward price curve shows tradable values for the same obligation to buy or sell for a series of future dates (it is not a forecast).
** Fair market value, often referred to as "mark to market" accounting.

About Platts: Founded in 1909, Platts is a leading global provider of energy, petrochemicals, metals and agriculture information and a premier source of benchmark prices for the physical and futures markets. Platts' news, pricing, analytics, commentary and conferences help customers make better-informed trading and business decisions and help the markets operate with greater transparency and efficiency. Customers in more than 150 countries benefit from Platts' coverage of the biofuels, carbon emissions, coal, electricity, oil, natural gas, metals, nuclear power, petrochemical, shipping and sugar markets. A division of McGraw Hill Financial (NYSE: MHFI), Platts is based in London with more than 1000 employees in more than 15 offices worldwide. Additional information is available at www.platts.com.

About McGraw Hill Financial: McGraw Hill Financial, a financial intelligence company, is a leader in credit ratings, benchmarks and analytics for the global capital and commodity markets. Iconic brands include: Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, CRISIL, J.D. Power and McGraw Hill Construction. The Company has approximately 18,000 employees in 30 countries. Additional information is available at www.mhfi.com.

Media contacts: Global & U.S.: Kathleen Tanzy: +1 212 904 2860, kathleen.tanzy@platts.com

SOURCE Platts

SOURCE: Platts