Argus, a global energy and commodities price reporting agency, has launched its Argus Open Markets (AOM) real-time trading platform for biodiesel in New York Harbor, marking its first use in the U.S. market, reports PR Newswire .
The platform went live on April 30 and recorded its first trade the same day. Since then, market activity has continued daily, signaling strong interest from participants.
AOM allows registered users to post live bids and offers and execute trades in real time, offering increased transparency in pricing. The expansion of AOM into the U.S. builds on its existing presence in Europe and Asia, where it is already widely used for biodiesel, feedstocks, and other renewable fuels.
The move comes as demand for biodiesel continues to grow in the U.S. Northeast, driven by mandates to increase biofuel blending into the region’s heating oil supply. Argus says its platform and associated price assessments will serve as valuable tools for managing price risk in this expanding market.
“We are pleased to have worked closely with market participants to extend Argus Open Markets to the growing New York biodiesel trading hub,” said Argus Chairman and CEO Adrian Binks. “Market participants have embraced the greater visibility into biodiesel price discovery that supports both internal compliance and overall market transparency.”
Argus is a leading publisher of benchmark prices for biofuels, feedstocks, and renewable fuels. Its price assessments are widely used in physical and term contracts across global supply chains and are increasingly being adopted as reference prices for sustainable aviation fuel (SAF) and hydrogenated vegetable oil (HVO).
In addition, Argus price benchmarks serve as the basis for various futures contracts traded on exchanges in Europe, Asia, and now the U.S., making the company’s data central to market operations across the biofuel sector.
