Singapore lab to work on big changes for commodity marts
S&P Global Platts teaming up with Enterprise Singapore on use of blockchain, alternative data sets, other methods
Singapore
ENERGY and commodities price agency S&P Global Platts is setting up an innovation lab in Singapore to catalyse the digitalisation of commodity markets.
Platts plans to host market participants in innovation workshops or hackathons to explore the use of blockchain, alternative data sets and new computational methods to trade and risk-manage commodity portfolios, it said in an announcement released at the annual Asia Pacific Petroleum Conference (APPEC conference) in Singapore.
Platts will work with government agency Enterprise Singapore to develop and deploy innovative solutions with the goal of providing market participants with robust and timely information. The pricing agency has already launched a project at the Port of Fujairah using a permissioned blockchain to collect and publish weekly aggregated data on oil terminal stock levels. It also plans to seek inputs from market participants in Singapore and develop use cases for digitally capturing and verifying the reporting oil inv…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
BHP to decide on future of nickel business by August, trims met coal estimates
Even without war in the Gulf, pricier petrol is here to stay
Gold gains as Middle East tensions lift safe-haven appeal
‘No trade war’, says Biden, pushing to triple tariffs on Chinese steel
Oil falls over US$1 as demand worries outweigh Middle East supply risks
Liberalise South-east Asia’s energy sector to attract more private finance: BlackRock official