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. These documents are based upon the IOSCO Principles for Price Reporting Agencies. (IOSCO - International Organization of Securities Commissions: www.iosco.org).
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
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.
Coverage Notes
Coverage Notes are notifications of changes to price coverage, methodology and index specifications as well as introductions of new PIX indices.
COVERAGE NOTE: Changes to US Newsprint Coverage – Implementation
HELSINKI, January 7, 2020 (PIX Paper Indices) – As previously announced and following consultation, Fastmarkets FOEX has implemented the following updates to its PIX US Newsprint indices:
- Fastmarkets FOEX has discontinued price assessments for PIX US Newsprint (30 lb/48.8 g). We will continue to publish PIX US Newsprint 27.65 lb (45 g).
- Fastmarkets FOEX has adjusted its brightness specifications from 58-60 ISO to 55-58 ISO.
For comments or queries, please email hello.foex@fastmarkets.com indicating “PIX US Newsprint” in the subject line of the email.
COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Final Decision
HELSINKI, December 23, 2019 (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. Along with this development, some index data collection criteria will not fully fulfil these policy requirements.
As previously announced and following a consultation with no objections to the proposal received, Fastmarkets FOEX will make the following changes to its PIX Pellet Continental Index:
- Discontinue the PIX Pellet Continental Index on May 6, 2020.
The main rationale for this change is that PIX Pellet Continental includes 3rd party data delivered by industry associations that cannot be linked to individual companies.
Fastmarkets FOEX will publish the last index on May 5, 2020.
For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Pellet Continental Index” in the subject line of the email.
COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Final Decision
HELSINKI, December 23, 2019 (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. Along with this development, some index collection criteria will not fully fulfil these policy requirements.
As previously announced and following a consultation with no objections to the proposal received, Fastmarkets FOEX will make the following changes to its PIX Woodchip indices:
- Discontinue the PIX Hardwood Chip Asia on Jan 22, 2020.
- Discontinue the PIX Softwood Chip Global on Jan 22, 2020.
The main rationale for this change is that PIX Woodchip indices include data delivered by 3rd parties and cannot be linked to individual companies.
Fastmarkets FOEX will publish the last indices on Jan 21, 2020.
For comments and queries, please email hello.foex@fastmarkets.com, indicating “PIX Woodchip Indices” in the subject line of the email.
COVERAGE NOTE: Weighting cap added to PIX Pulp & Paper and Biomass indices
HELSINKI, December 12, 2019 (PIX Pulp & Paper and Biomass Indices) – Fastmarkets FOEX has added a maximum weighting limit of a single price provider to all PIX Pulp & Paper and Biomass indices.
The weighting cap is 25% for significant benchmarks such as pulp Europe, pulp China and recovered paper, and 50% for other benchmarks.
At the same time, the internal guidelines for storing price data have been amended for all PIX price indices. From now on price data will be retained for seven years rather than five years at Fastmarkets FOEX, in line with Fastmarkets company policy.
The methodology documents have been changed accordingly: link
COVERAGE NOTE: PIX Pulp and Paper incorrect November monthly average values published this afternoon
