PIX Methodologies & Policies
This section includes documents outlining the PIX index methodologies for the PIX Pulp and Paper as well as Bioenergy indices – which to feasible parts will be made applicable to all PIX price indices. This page also includes a set of FOEX policy documents designed to make Fastmarkets FOEX index procedures more robust as well as Fastmarket FOEX pricing notices. These documents are based upon the IOSCO Principles for Price Reporting Agencies. (IOSCO - International Organization of Securities Commissions: www.iosco.org). For a copy of our independent assurance report, please click here.
PIX PULP EUROPE METHODOLOGY AND SPECIFICATIONS
PIX PULP CHINA METHODOLOGY AND SPECIFICATIONS
PIX PULP US METHODOLOGY AND SPECIFICATIONS
PIX PAPER METHODOLOGY AND SPECIFICATIONS
PIX PACKAGING EUROPE METHODOLOGY AND SPECIFICATIONS
PIX RECOVERED PAPER EUROPE METHODOLOGY AND SPECIFICATIONS
PIX FOREST BIOMASS FINLAND METHODOLOGY AND SPECIFICATIONS
PIX PELLET NORDIC METHODOLOGY AND SPECIFICATIONS
PIX SAWN TIMBER FAS FINLAND METHODOLOGY AND SPECIFICATIONS
FASTMARKETS FOEX/RISI CONFIDENTIAL CONTRIBUTED DATA PROTECTION PROTOCOL
FASTMARKETS FOEX – CODE OF CONDUCT
FASTMARKETS FOEX – COMPLAINTS POLICY
FASTMARKETS FOEX – METHODOLOGY REVIEW PROCCESS POLICY
FASTMARKETS FOEX – CORRECTIONS AND NEW PRICE LAUNCH POLICY
FASTMARKETS FOEX – DATA SUBMITTER POLICY
Fastmarkets FOEX is in the process of aligning its index procedures with IOSCO’s Principles for Oil Price Reporting Agencies (the “PRA Principles”). As part of this process, we will carry out an external audit by an independent auditing company of one PIX index methodology each year. In 2018, Fastmarkets FOEX also introduced a new Data Submitter policy to replace formal audits of price providers.
Pricing Notices
Pricing Notices are notifications of changes to price coverage, methodology and index specifications as well as introductions of new PIX indices.
PRICING NOTICE: Correction in PIX Pellet Nordic Index Letter on July 19, 2022
Helsinki, July 19, 2022 (Fastmarkets FOEX) – Due to a clerical error, the month-on-month change in the SEK value of the PIX Pellet Nordic Index appeared incorrectly in the PIX Pellet Nordic Index Letter for about 15 minutes after publishing on July 19, 2022.
The correct month-on-month change is 8.50 SEK/MWh.
This did not impact the index values published on the foex.fi website and the Fastmarkets RISI portal and mobile app or the PIX Bioenergy & Wood Service (email).
We apologize for the inconvenience caused.
PRICING NOTICE: Discontinuing the PIX US NBSK Net Change index – Notice of Implementation
HELSINKI, July 13, 2022 (PIX Pulp and Paper indices) – As previously announced and following consultation, Fastmarkets FOEX has implemented the following changes to its PIX US NBSK Net Change index:
- Discontinued this index on July 13, 2022.
For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX US NBSK Net Change” in the subject line of the email.
More information available here.
PRICING NOTICE: Annual Review of PIX Pulp China Indices Methodology – Final Decision
HELSINKI, July 1, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 20 and June 17, 2022, on the pricing methodology for its PIX Pulp China price 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 of our current methodology.
To summarize, this open consultation does not lead to material changes in the current methodology. A newly dated methodology document will be updated shortly.
PRICING NOTICE: Discontinuing the PIX US Newsprint index – Notice of Implementation
HELSINKI, June 29, 2022 (PIX Pulp and Paper indices) – As previously announced and following consultation, Fastmarkets FOEX has implemented the following changes to its PIX US Newsprint 27.65lb index:
- Discontinued this index on June 29, 2022.
For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX US Newsprint” in the subject line of the email.
More information available here.
PRICING NOTICE: Delay in publishing PIX Pulp China Indices today
HELSINKI, June 17, 2022 (PIX Pulp and Paper indices) - There is unfortunately a delay in publishing the PIX Pulp China values today due to a technical reason.
The values of June 17, 2022 are as follows:
PIX Pulp China BHKP Net: USD 844.18 (+8.96)
PIX Pulp China NBSK Net: USD 987.26 (-0.41)
PIX Pulp China Letter is online with the correct values. PIX indices can also be found on Fastmarkets RISI portal.
PRICING NOTICE: Annual Review of PIX Forest Biomass Finland Indices Methodology – Final Decision
HELSINKI, June 14, 2022 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 13and June 10, 2022, on the pricing methodology for its PIX Forest Biomass Finland 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 has been posted on foex.fi.
PRICING NOTICE: Annual Review of PIX Packaging Price Indices Methodology – Final Decision
HELSINKI, May 30, 2022 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 27 and May 25, 2022, on the pricing methodology for its PIX Packaging price 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 has been posted on foex.fi.
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pulp China Price Indices
HELSINKI, May 20, 2022 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Pulp China price indices, as part of its annual methodology review process.
This consultation, which is open from May 20 until June 17, 2022, 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 Pulp China 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 Pulp China review 2022”.
We treat feedback as confidential. We share responses with the industry at the end of the consultation without attributing them in any way so as to protect the identity of respondents. Please specify whether your response is anonymous, in which case we will not share it in any form.
Fastmarkets will publish the outcome of this methodology review by July 1, 2022, 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: Annual Review of PIX Forest Biomass Finland Indices Methodology – Open Consultation
HELSINKI, May 13, 2022 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Forest Biomass Finland price indices, as part of its annual methodology review process.
This consultation, which is open until June 10, 2022, 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 Forest Biomass Finland 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 Forest Biomass Finland review 2022”.
We treat feedback as confidential. We share responses with the industry at the end of the consultation without attributing them in any way so as to protect the identity of respondents. Please specify whether your response is anonymous, in which case we will not share it in any form.
Fastmarkets will publish the outcome of this methodology review by June 23, 2022, on Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback. 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: Annual Review of PIX Packaging Europe Indices Methodology – Open Consultation
HELSINKI, April 27, 2022 (PIX Pulp and Paper indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Packaging Europe price indices, as part of its annual methodology review process.
This consultation, which is open until May 25, 2022, 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 Packaging Europe price indices here.
Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com, with the respective subject heading "PIX Packaging review 2022”.
We treat feedback as confidential. We share responses with the industry at the end of the consultation without attributing them in any way so as to protect the identity of respondents. Please specify whether your response is anonymous, in which case we will not share it in any form.
Fastmarkets will publish the outcome of this methodology review by June 8, 2022, on the Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback. 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: Annual Review of PIX Paper Price Indices Methodology – Final Decision
HELSINKI, April 20, 2022 (PIX Pulp and Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between March 16 and April 13, 2022, 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 has been posted on foex.fi.
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Final Decision
HELSINKI, March 23, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between February 22 and March 22, 2022, on the pricing methodology for its PIX Recovered Paper price indices. The consultation was done as part of our annual methodology review process.
As part of the consultation, Fastmarkets FOEX proposed the following change to the index methodology: Transactions with prices fixed in advance for a longer period than three months do not count as eligible transactions and shall not be reported to the index. The feedback received was largely supportive to this change. Our survey among the data contributors confirmed that contracts including any fixed prices are not significant. We would like to thank those who took the time to respond to the consultation.
To summarize, we have decided to exclude prices fixed in advance for a longer period than three months. This is not a material change to the current methodology. A newly dated methodology document has been posted on foex.fi
PRICING NOTICE: Annual Review of PIX Paper Price Indices Methodology – Open Consultation
PRICING NOTICE: Annual review on FOEX methodology for PIX European Pulp Price Indices – Final Decision
HELSINKI, March 14, 2022 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between Feb. 1 and 28, 2022 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 statements of supporting the current methodology. Other feedback pondered about the relevance of gross price indices and timing for publishing in the week. One comment regarded the role of spot prices, which are not included in the gross price indices concerned. The current methodology includes price reporting rules which cover the basic definitions for the prices to be observed 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.
PRICING NOTICE: Annual Review of PIX Recovered Paper Indices Methodology – Open Consultation
PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Final Decision
HELSINKI, February 14, 2022 (PIX Bioenergy 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 14 and February 11, 2022, as part of its annual methodology review process. Fastmarkets FOEX proposed no changes to the current index methodology or specifications. This consultation was done as part of our published annual methodology review process.
There was feedback received during the consultation period asking for prices from buyers of sawn softwood to be included in the calculation in addition to data from sellers. These indices are currently calculated based on price data provided by companies producing and exporting sawn softwood. Fastmarkets FOEX welcomes data contributions from buyers, as long as they comply with the current methodology and specifications. Fastmarkets FOEX would like to thank for the feedback, and we will continue to pursue the inclusion of buyer data. As this is already stated in the methodology, no changes will be made to that document 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.
A newly dated methodology document is now available here.
PRICING NOTICE: Annual Review of PIX European Pulp Indices Methodology - Open Consultation
PRICING NOTICE: Open consultation on changes to PIX US Pulp coverage in the UNITED STATES – Final Decision
PRICING NOTICE: Annual Review of PIX Sawn Softwood Timber Finland Indices - Open Consultation
PRICING NOTICE: Changes to PIX Wood Finland Indices – Notice of Implementation
PRICING NOTICE: Changes to Fastmarkets FOEX PIX US Pulp coverage - Open consultation
PRICING NOTICE: Delayed publication of PIX Pulp China Indices on Sep 24, 2021
PRICING NOTICE: Delayed publication of PIX Pulp & Paper Indices on Aug 3, 2021
PRICING NOTICE: Open consultation on FOEX methodology for PIX China Pulp Price Indices – Final Decision
PRICING NOTICE: Open consultation on FOEX methodology for PIX Forest Biomass Finland Price Indices – Final Decision
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price Indices – Final Decision
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pulp China Price Indices
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Forest Biomass Finland
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Packaging Price Indices
PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices – Final Decision
PRICING NOTICE: Open consultation on FOEX methodology for Pellet Nordic Index – Final Decision
PRICING NOTICE: Open consultation on FOEX methodology for PIX European Recovered Paper Price Indices – Final Decision
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices
COVERAGE NOTE/PRICING NOTICE: Open consultation on FOEX methodology for PIX European Pulp Price Indices – Final Decision
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pellet Nordic
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Recovered Paper Price Indices
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Pulp Indices
COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Notice of Implementation
COVERAGE NOTE: PIX Bioenergy, Biomass and Wood - New PIX SAWN TIMBER FAS FINLAND INDICES METHODOLOGY AND SPECIFICATIONS
COVERAGE NOTE: Open consultation on FOEX annual methodology review and proposed schedule change for the PIX Pulp China Indices – Final Decision
COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices – Final Decision
COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices – Final Decision
COVERAGE NOTE: Changes to PIX Pellet Continental Index Coverage – Implementation
COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices
COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices – Final Decision
COVERAGE NOTE: Correction to wording in PIX letter ‘PIX Pulp China Indices’ of March 10, 2020
COVERAGE NOTE: Correction to PIX Recovered Paper February average index values Feb 25, 2020
COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices
COVERAGE NOTE: Fastmarkets moves to annual methodology reviews across PRA divisions
COVERAGE NOTE: PIX Pulp and Paper incorrect November monthly average values published this afternoon