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New Web-Enabled Platform Digitizing Commodity Markets
The new digital platform is set to transfigure the paradigm of commodity markets.
FREMONT, CA: The leading independent provider of information and benchmark prices for the commodities and energy markets, S&P Global Platts, has launched a new Platts Platform and accompanying mobile app. The new platform will help in digitising commodity markets, marking the beginning of a multi-phased investment plan. This platform centres on enhancing the customer experience in increasingly digitised commodity markets. The Platts Platform is a web-enabled, intuitive, portable portal, which can be used by consumers logging in using any device globally. Changes in global commodity markets occur due to the shifting geopolitics, growing focus on energy transition, and technology evolution that eyes levels of integration and interconnectivity across different commodities increase exponentially.
According to a study by McKinsey, digitisation helps the oil & gas industry cut capital expenditure by 20 per cent, enhancing global cash flows by $300 billion in the next five years. The new S&P Global Platts Platform represents the initial step in a vision for the commodities industry that activates the power of data. S&P Global Platts provides customers with stimulating dynamic insights using technology to reduce operational friction through integrated technology and highly interactive real-time access to relevant market information and analysis. The Platts Platform complements existing product delivery, forming a core part of the company's digital vision that comprises delivering customers market-leading insights through multiple channels.
S&P Global Platts is an insight provider that helps organisations make better-informed trading and business decisions with confidence. The company is a pioneering independent provider of information and benchmark prices for the commodities and energy markets. S&P Global Platts helps customers in over 150 countries seek its expertise in news, pricing, and analytics to deliver greater transparency and efficiency to markets.