PIX Methodologies & Policies

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price Indices

HELSINKI, April 28, 2021 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX European Packaging price indices, as part of its annual methodology review process.

This consultation, which is open until May 26, 2021, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

Fastmarkets FOEX proposes no changes to the current index methodology or specifications. Please find the current methodology for the FOEX PIX European Packaging price indices here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the respective subject heading "PIX Packaging Europe annual methodology review”.

Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

Fastmarkets will publish the outcome of this methodology review by June 9, 2021, on Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.

PRICING NOTICE: Changes to PIX Wood Finland Indices – Consultation

Helsinki, April 26, 2021 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX is unifying its methodology and policies for all PIX indices to comply with Fastmarkets’ internal guidelines and the IOSCO principles for Price Reporting Agencies (PRAs). Along with this development, some index collection criteria do not fully fulfil these policy requirements.

Fastmarkets FOEX is considering the following changes to its PIX Wood Finland indices:

- Discontinue PIX Sawlogs Finland on Dec 29, 2021.

- Discontinue PIX Pulpwood Finland on Dec 29, 2021.

- Discontinue PIX Birchlogs Finland on Dec 29, 2021.

The main rationale for this change is that PIX Wood Finland indices include data delivered by 3^rd parties and cannot be linked to individual companies.

Fastmarkets FOEX hereby opens a market consultation on this proposal, with the potential that the last indices will be published on Tuesday, December 28, 2021. The consultation is open until June 30, 2021 and Fastmarkets FOEX will publish the outcome by July 14, 2021, on Fastmarkets FOEX website under Pricing Notices.

For comments and queries, please email pricing.foex@fastmarkets.com, by June 30, 2021, indicating “PIX Wood Finland Indices” in the subject line of the email.

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices – Final Decision

HELSINKI, April 20, 2021 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between March 16th and April 13th, 2021 on the pricing methodology for its PIX Paper indices. The consultation was done as part of our annual methodology review process.

Fastmarkets FOEX would like to thank for the feedback received during the consultation period. It was fully supportive to our current methodology.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document is now available on foex.fi.

PRICING NOTICE: Open consultation on FOEX methodology for Pellet Nordic Index – Final Decision

HELSINKI, March 31, 2021 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between February 25^th and March 25^th, 2021 on the pricing methodology for its PIX Pellet Nordic. The consultation was done as part of our annual methodology review process.

No feedback was received during the consultation period and therefore no changes will be made to the methodologies at this stage.

A newly dated methodology document is now available on foex.fi.

PRICING NOTICE: Open consultation on FOEX methodology for PIX European Recovered Paper Price Indices – Final Decision

HELSINKI, March 30, 2021 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between February 24th and March 24th, 2021 on the pricing methodology for its PIX European Recovered Paper indices. The consultation was done as part of our annual methodology review process.

Fastmarkets FOEX would like to thank for the one feedback from the market received during the consultation period. It was fully supportive to our current methodology.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document is now available on foex.fi.

COVERAGE NOTE: Renaming Coverage Notes as Pricing Notices

Helsinki, March 19, 2021 (Fastmarkets) – To align our terminology with other parts of the Fastmarkets business, Fastmarkets FOEX, Fastmarkets RISI and Random Lengths will rename our “Coverage Notes” as “Pricing Notices” with effect from March 31, 2021.

Historical notes will still contain the term “Coverage Notes,” however, future notes will be labelled “Pricing Notice” and the relevant section on our websites will also switch to using this term. In addition, in the Fastmarkets RISI portal, we are working to make sure customers can find all historical notes whether they search for “Coverage Notes” or “Pricing Notice.”

For comments or queries, please email pricing.risi@fastmarkets.com.

COVERAGE NOTE/PRICING NOTICE: Open consultation on FOEX methodology for PIX European Pulp Price Indices – Final Decision

HELSINKI, March 12, 2021 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between Feb. 1^st and 26^th, 2021 on the pricing methodology for its PIX European Pulp indices. The consultation was done as part of our annual methodology review process.

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. Comments and suggestions included a statement of no suggestions to alter the current methodology, and another suggestion aims to add a passage reducing old prices entering the PIX. The current methodology includes price reporting rules which cover this aspect, and Fastmarkets FOEX deems the methodology sufficient in its wording.

To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document will be posted on foex.fi shortly.

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

COVERAGE NOTE: PIX Sawn Softwood Timber FAS Finland – Final Decision

HELSINKI, February 19, 2021 (PIX Biomass and Wood Indices) - Fastmarkets FOEX invited feedback from the industry on the pricing methodology for its PIX Sawn Softwood Timber FAS Finland price indices, via an open consultation process between January 15 and February 12, 2021, as part of its annual methodology review process. Fastmarkets FOEX proposed no changes in the current index methodology or specifications. This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period and therefore no changes will be made to the methodologies at this stage.

This consultation, sought to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

You can find the current methodology for PIX Sawn Softwood Timber FAS Finland here.