TruMarx Data Partners is now offering biodiesel and renewable identification numbers (RINs) transactions on COMET, the energy industry’s on-demand platform for custom bilateral OTC transactions.
COMET now supports direct bilateral transactions for biodiesel and assigned RINs, separated D4 RINs, and RIN-less biodiesel (wet gallons). This new capability allows users to:
• Electronically and confidentially structure their transaction to include important product details such as quality, certification, blend, facility info, delivery details, Q-RIN designation, QAP provider, etc.
• Publish the structure to any pre-screened COMET counterparts via a one-to-many request for price.
• Negotiate the terms of the transaction via multiple one-to-one confidential negotiations until the originator accepts or rejects a particular transaction.
• Receive an automated transaction confirmation with full transaction details.
• Generate a comprehensive transaction audit trail to help meet a variety of audit and regulatory compliance standards.
“We are excited to introduce this new biodiesel transaction capability for COMET. It will allow active traders in this important energy category to enjoy the tremendous benefits that COMET provides”, said Jon Olson, Founder, President and CEO. “Our customers have asked for this platform and we are excited to deliver”, said Mr. Olson.
TruMarx says this new biodiesel/RINs capability will offer many benefits for users, including reducing fraudulent transaction concerns, increasing market transparency and scope, allowing self-service price discovery, and making it overall easier for users with on-line and on-demand access.