Noble Group barred from Platts' oil pricing process

April 22, 2015 2:30 AM

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SINGAPORE, April 22 (Reuters) - Commodity trader Noble Group has been barred from taking part in some of the trading processes used to set global oil price benchmarks by reporting agency Platts, according to two people familiar with the matter.

Noble, the Singapore-listed merchant that has been battling criticism of its accounting practices this year, is not able to act as a "market maker" - actively offering both bids and offers to facilitate trading - in the half-hour trading process run by Platts, part of McGraw Hill Financials Inc.

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