OPIS450 is an innovative tool that calculates the average price of jet barges in the ports of Flushing, Amsterdam, Rotterdam, Antwerp, and Ghent at every minute of the day between 9 a.m. and 4:30 p.m. London time – 450 minutes. Live bids, offers and trades are fed through to OPIS through a trading screen from Trayport, a technology company owned by the Intercontinental Exchange.
The effect of the OPIS450 is to capture peaks and valleys of oil volatility throughout the day, rather than just a single price at 4:30 p.m. London time. OPIS450 takes into account OPIS's well-known full-day pricing methodology while offering complete market transparency for anyone wanting to price fuel.
The combination of the OPIS450 assessment and the new OPIS Europe Jet Ticker makes jet fuel prices visible through the entire trading day. By using price averages, OPIS450 helps navigate through the spikes and troughs that are characteristic of volatile market trading. OPIS450 only assesses prompt loading jet barges.