What is FOEX Indexes?

FOEX Indexes Ltd is an independent company providing audited, trade-mark registered PIX pulp, paper, recovered paper and wood based biomass price indices.

Using PIX commercially Read More Terms of commerial use

About FOEX


  • Independent company, located in Helsinki, Finland
  • Owned by AXIO Data Group Ltd
  • Publishes audited pulp, paper, RCP and biomass price indexes
  • Offers contracts to the financial community for the use, against commission, of PIX indexes as benchmarks for financial products used in hedging price risks
  • Offers contracts with individual companies to use PIX indexes as a basis for their supply contracts with their clients/suppliers or internally
  • Owns the trademark rights to the PIX indexes
  • Provides subscribers with up-to-date pulp & paper market information
  • RISI exclusive re-seller of FOEX pulp&paper subscriptions
  • Staff highly experienced in pulp and paper sector
  • Managing Director: Timo Teräs


  • 1986 - Finnish Options Exchange, public company main products: exchange rate and interest rate futures and options
  • 1996-98 - First indexes launched: PIX trade-marked, pulp futures and options traded
  • 1999 - FOEX ceases to be an Exchange and is privatized. Name changed to FOEX Indexes Ltd. and 1999 onwards  New indexes being launched almost yearly
  • 2014 - FOEX is acquired by AXIO Data Group Ltd

FOEX Expert Paneltoggle

In order to further increase the reliability and value of the PIX-index system, FOEX Indexes Ltd has an appointed Expert Panel. The main tasks of the panel are:

  • To provide their view on the price formation, should there be, for some reason, a period when sufficient price data from the market was not available (never happened so far)
  • Available to assist the FOEX personnel in the development of new indices
  • To communicate to FOEX the opinions from the market on the validity and use of the indices

The current expert panel members are:

Brian McCLAY
Brian is Principal at TerraChoice Market Services Inc., based in Montreal, Canada.  TerraChoice provides a monthly Market Pulp Information Service report.
See Brian's CV here

Roman Hohol
Roman is Director of Forest Industry Marketing Practice with AMEC, a large international consulting company. He is based in Canada.
See Roman's CV here

Sakari Pappila Sakari has a long and distinguished career in the market pulp business, and operated a pulp agency, Kingsway Fibre Ltd, until 2011.

See Sakari's CV here

Tom Wright
Tom is Research Director at Hawkins Wright, based in London, the UK. See
Tom's CV here

Former FOEX Expert Panelists include Richard Cockram, Torsten Nykopp, Bernt Stenberg and Didrik de Thibault.