In Texas, Argus has extended its Argus Open Markets (AOM) real-time electronic price discovery platform to biodiesel in New York Harbor. A trade was initiated on the opening day of operation, 30 April, the first recorded for AOM in the US, and the platform has seen market activity on every subsequent day.
The AOM platform offers real-time price transparency and enables registered market participants to post bids and offers every day, and to initiate trades.
Biodiesel demand is growing in the US northeast, in line with mandates for increased blending into the region’s heating oil pool. The AOM platform and Argus biodiesel price assessment provide important tools for risk management in this growing market.
The expansion of the AOM platform to US biofuel market participants builds on its long-standing use in Europe and Asia. In Europe, AOM covers biodiesel, feedstocks and renewable fuels; and in Asia, it covers biodiesel and feedstocks markets.
Tags: Argus, biodiesel, Texas
Category: Fuels
