The move follows market consultation with industry participants as means of providing information and benchmark prices for the commodity markets
SINGAPORE, Dec. 30, 2022 /PRNewswire/ — Abendroth Fortel, a leading financial services adviser and a well-reputed commodity broker aiming to provide its clients with an array of investment opportunities in the commodity markets, today announced the addition of the Editorial Entry communication tool to its Market-On-Close (MOC) price assessment process for daily national waterborne across several oil products.
Abendroth Fortel Editorial Entry is an online option that allows participants in the Market-on-Close assessment process to communicate bids, offers, and transactions directly to editors and the marketplace simultaneously. Its grid-like screen offers an easy, at-a-glance view and allows market participants to instantly respond to the bids and offers submitted. The use of the tool does not preclude communicating with editors via more traditional methods such as telephone, email, and instant messaging.
Chan Tze Yan, Abendroth Fortel Editorial Entry’s Senior Managing Editor said: “Through greater transparency, and efficient data management, the addition of entry technology to the Market-On-Close process will provide enhanced efficiency and functionalities to market participants while preserving the use of existing communication channels.”
The domestic Japanese waterborne assessments are modeled on the refined product assessments under which spot market prices are assessed through an independent and transparent price formation process based on the Market-on-Close (MOC) methodology.
The MOC is a structured, highly-transparent price assessment process based on the principle that price is a function of time. The MOC process in oil identifies bids, offers, and transactions by company name and results in an end-of-trading-day value.
Prices of the waterborne oil products will be assessed for several loading locations and reflect the local market close. The unit of measure and size criteria will be established in due time.
About Abendroth Fortel
Abendroth-Fortel.com is one of the leading financial services advisers and a well-reputed commodity broker. The primary aim of the firm is to provide its clients with an array of investment opportunities in the commodity markets. Abendroth Fortel provides an unparalleled range of services like commodity trading, financial advice, alternative investments, and forex trading for both local and global investors to meet their diverse requirements. The firm’s professional staff is trained to handle the highest level of service for customers of all sizes and requirements. Abendroth Fortel prefers challenging tasks that allow the company to work on the edge of its capabilities.
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SOURCE Abendroth Fortel