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LNG JKM Option Pricing - IHS Markit's Totem - Another First

17 January 2020

By: Douglas Crawford, Regional Operations/SME Director, IHS Markit

Totem, founded in 1997, was the first of its kind: An independent price verification (IPV) service covering equity options, offering a solution for risk managers and product controllers looking for industry confirmation that their trader's OTC options price marks were in line with the rest of the industry. As demand for the service grew, so did coverage, and in 2004, when Markit Partners acquired Totem, more than 30 investment banks were using the service across all major asset classes.

As we enter a new decade, Totem Commodities boasts over 100 users and covers the opaque world of LNG, publishing forward price data out to 2030 and hard to source forward-pricing on LNG freight routes. Often proving to be a bellwether indicator of market trends, Totem Commodities has hit a new milestone closing out 2019 with the publication of the first ever LNG DES JKM options volatility curve (calculated from an industry average).

With the continued growth of LNG JKM futures trading, this is surely a sign that development of the associated options market is not far behind.

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IHS Markit provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.

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