What is FOEX Indexes?

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

FOEX Indexes Ltd, Bioenergy and Wood Indices

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Nov 24, 2020

PIX Wood Finland and PIX Sawn Softwood Timber FAS Finland

Oct 13, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Notice of Implementation

HELSINKI, October 13, 2020 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX has invited feedback from the industry on the pricing methodology for its PIX Forest Biomass Finland price indices, as part of its newly announced annual methodology review process.

As part of this open consultation, to expand the coverage on the Finnish bioenergy sector, Fastmarkets FOEX proposed additions to its PIX Forest Biomass Finland index and its sub-indices. Most of the comments agreed on the suggested regions and the new sub-index for forest residues. There were some comments about small adjustments on the regional division as well as generally regarding the indices.

As the feedback was generally positive, Fastmarkets FOEX will go forward with the plan and the following additions are made for the PIX Bioenergy and Wood Indices:

  • Regional indices are added to PIX Forest Biomass Finland Index and to its sub-indices (forest chips, sawdust, bark)
  • A separate official sub-index for forest residues is published with regional indices for this sub-index
  • Based on the feedback during the consultation and comments from the price data contributors, Fastmarkets FOEX has decided that the regional division goes along a line from Vaasa to Imatra dividing Finland in two (south/west and north/east)

The changes take effect starting today, October 13, 2020.

For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Forest Biomass Finland” in the subject line of the email in English, Finnish, or Swedish.

Jul 17, 2020

COVERAGE NOTE: Open consultation on FOEX annual methodology review and proposed schedule change for the PIX Pulp China Indices – Final Decision

HELSINKI, July 17, 2020 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between June 5th and July 3rd, 2020 on the pricing methodologies for its PIX Pulp China indices. The consultation was done as part of our previously announced annual methodology review process. We also requested feedback on a proposal to change the publishing schedule from Tuesday to Friday in order to provide the market with a more timely index.

Fastmarkets FOEX would like to thank those who took the time to respond to the consultation. We received only a few comments from the market during the consultation period, but many stakeholders were supportive of the proposed schedule change in earlier discussions. Comments and suggestions touched upon the reasons for the proposed schedule change of publishing from Tuesdays to Fridays, and we received one disapproving comment for the change. Other comments suggested technical development in the solutions for gathering price data and for distributing the PIX Pulp China indices. Based on the feedback, Fastmarkets FOEX has decided to go ahead with the schedule change.

The schedule change of the publishing date of PIX Pulp China indices as of September 4, 2020 will not lead to material changes in the current methodology. The change will at its best improve and shorten the time window from collecting price data to publishing the indices. An updated methodology document will be posted on foex.fi shortly.

For all Fastmarkets FOEX coverage notes and to view Fastmarkets FOEX methodology guides please see here.

Apr 9, 2020

Fastmarkets successfully completes IOSCO assurance review for its FOEX PIX pulp and paper pricing division

LONDON, 9 April, 2020 – Fastmarkets, a leading source of pricing data for global commodity markets, is delighted to announce the successful completion of an external assurance review of its Helsinki-based pulp and paper pricing unit Fastmarkets FOEX. This milestone marks the first time the business was reviewed and confirms its alignment to the standards defined by the International Organization of Securities Commission (IOSCO) within the Principles for Oil Price Reporting Agencies (PRAs).

Professional services firm BDO carried out the independent assurance review of four of the business’ key trademarked PIX indices in pulp and recovered paper. On March 30, 2020, they found that Fastmarkets’ responses were in line with the IOSCO principles for PRAs. The review process is comprehensive, examining all relevant documentation and processes to ensure their quality, integrity and adherence to stated methodologies.

“Fastmarkets is excited to add the FOEX PIX indices to the list of our prices that have successfully completed an assurance review,” Fastmarkets CEO Raju Daswani said. “The completion of an external audit of our process demonstrates our commitment to provide reliable, impartial, representative and transparent benchmarks for the market we serve to use in physical trading, risk management, analysis and planning purposes.”

The following four price indices were included in the scope of the assurance:

  • PIX Pulp Indices (Europe):  
    • PIX NBSK (northern bleached softwood kraft pulp)
    • PIX BHKP (bleached hardwood kraft pulp)
  • PIX Recovered Paper Indices (Europe):  
    • PIX OCC 1.04 dd (old corrugated containers)
    • PIX ONP/OMG 1.11 dd (old newspapers and magazines)

As per guidance by the European Securities and Markets Authority (ESMA), this assurance review by an independent external auditor is sufficient to demonstrate compliance with the requirements of the Benchmarks Regulation (BMR) for commodity benchmarks (paragraph 18 of Annex II). Reviews must take place at least annually.

To obtain a copy of the independent assurance report, please click here.

Fastmarkets has invested significantly in resources and technology to ensure its price-assessment process aligns with IOSCO principles. View details here.

To view Fastmarkets FOEX price methodology/specifications, please click here

For further inquiries, please contact Katharine Kellar at katharine.kellar@fastmarkets.com.

Mar 19, 2020

Fastmarkets FOEX - Helsinki, March 19, 2020 The Covid-19 epidemic causes many inconveniences. Our goal at Fastmarkets FOEX is to be of service to you to our best abilities also in these circumstances. We will be working remotely and apologize any delay to our deliverables this may cause.  We also recommend that you contact us on our mobile phones. Please find here our contact details.

Please see a coverage note about our business continuity plan here.