SINGAPORE, March 5 (Reuters) - Pricing agency S&P Global Platts said on Thursday it had facilitated a first trade for the Japan-Korea-Marker (JKM) derivatives in its pricing process also known as market-on-close (MOC).
Commodities trader Trafigura bid for 5 lots of April JKM at $3.45 per million British thermal units (MMBtu) to which trader Vitol eventually sold, Ciaran Roe, head of LNG pricing at S&P Global Platts, told Reuters.
"Today's trade follows weeks of building interest in S&P Global Platts LNG derivatives MOC, with a growing number of named bids and offers, as well as time spreads, reported by market participants based in Singapore," he added.
Platts, a unit of S&P Global Inc, saw derivatives activity on its MOC only start to build up in 2020, in line with an overall growth in LNG derivatives trade, Roe said. (Reporting by Jessica Jaganathan; editing by David Evans)