What is Fastmarkets FOEX?

Fastmarkets FOEX is a leading Price Reporting Agency providing audited, trademark registered pulp, paper, recovered paper, wood-based bioenergy and timber price indices

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.

Jul 7, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Final Decision

Helsinki, July 7, 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.

As previously proposed and following a consultation, Fastmarkets FOEX has decided to discontinue PIX Sawlogs Finland, PIX Pulpwood Finland, and PIX Birchlogs Finland on Dec 29, 2021.

Fastmarkets FOEX will publish the last indices on Tuesday, December 28, 2021.

The main rationale for this change is that the PIX Wood Finland indices are based on third party data and cannot be linked to individual companies.

Fastmarkets FOEX made a market consultation regarding this change and received comments which were against the proposal, quoting the indices to be important for market data purposes and, instead of discontinuing, suggested developing the indices further to fulfil the requirements. Fastmarkets FOEX would like to thank for the feedback.

However, the current index specifications would require significant altering to fulfil the compliance requirements, as well as support from the market participants to receive the data in required detail. This would mean major changes to the index fundamental, which would be more appropriate to implement in all new indices. Fastmarkets FOEX is open to discussion with the stakeholders, for a possible future development of PIX roundwood indices.
Jul 2, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX China Pulp Price Indices – Final Decision

HELSINKI, July 2, 2021 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 21st and June 18th, 2021 on the pricing methodology for its PIX China 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. Fastmarkets FOEX proposed an adjustment to the current index methodology or specifications in the Timing clause:

from “Timing: Delivery during the current month”

to “Timing: Delivery during the current or following month”.

We received only a few comments from the market during the consultation period. The comments were rather questions regarding the reasons for the adjustment in the Timing clause. The adjustment includes timing possibilities which the current methodology covers and Fastmarkets FOEX deems that the adjustment to the clause can be made in the methodology.

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.

Jun 16, 2021

PRICING NOTICE: Open consultation on FOEX methodology for PIX Forest Biomass Finland Price Indices – Final Decision

HELSINKI, June 16, 2021 (PIX Bioenergy and Wood Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between May 14 and June 11, 2021 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 and to the proposal of changing from Statistics Finland’s Fuel classification 2019 to its Fuel Classification 2021, as follows:

  • Class 3112 Chips from roundwood (includes both classes a and b) to Class 21.10.20 (includes both classes 21.10.21 and 21.10.22)
  • Class 3113 Forest residue chips to Class 21.10.30
  • Class 3114 Hog fuel from stumps (previously stump wood chips) to class 21.10.40
  • Class 3121 Bark to Class 21.20.10
  • Class 3122 Saw dust to Class 21.20.20
  • Class 21.10.20 (previously 3112) is still encouraged to be reported separately as pruned or unpruned stem chips.

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

Jun 4, 2021

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

HELSINKI, June 4, 2021 (PIX Pulp & Paper Indices) - Fastmarkets FOEX invited feedback from the industry in an open consultation process between April 28 and May 26, 2021 on the pricing methodology for its PIX European Packaging 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.

May 21, 2021

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

May 14, 2021

PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Forest Biomass Finland

Apr 28, 2021

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

Apr 26, 2021

PRICING NOTICE: Changes to PIX Wood Finland Indices – Consultation

Mar 31, 2021

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 25th and March 25th, 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.

Mar 30, 2021

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.

Mar 19, 2021

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.

Mar 16, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Paper Price Indices

Mar 12, 2021

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

Feb 25, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pellet Nordic

Feb 24, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Recovered Paper Price Indices

Feb 23, 2021

COVERAGE NOTE: PIX Paper weighting scale updated

Feb 19, 2021

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

Jan 29, 2021

COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Pulp Indices

Jan 15, 2021

COVERAGE NOTE: PIX Sawn Softwood Timber FAS Finland - Open Consultation

Oct 13, 2020

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

Aug 28, 2020

COVERAGE NOTE: PIX Bioenergy, Biomass and Wood - New PIX SAWN TIMBER FAS FINLAND INDICES METHODOLOGY AND SPECIFICATIONS

Jul 17, 2020

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

Jun 17, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Final Decision

Jun 5, 2020

COVERAGE NOTE: PIX China - proposed schedule change and open consultation

May 28, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices – Final Decision

May 12, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices – Final Decision

May 8, 2020

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Open Consultation

May 6, 2020

COVERAGE NOTE: Changes to PIX Pellet Continental Index Coverage – Implementation

Apr 24, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Packaging Europe Indices

Apr 7, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX Paper Indices

Mar 19, 2020

COVERAGE NOTE: Fastmarkets Forest Products business continuity statement

Mar 13, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices – Final Decision

Mar 11, 2020

COVERAGE NOTE: Correction to wording in PIX letter ‘PIX Pulp China Indices’ of March 10, 2020

Feb 25, 2020

COVERAGE NOTE: Correction to PIX Recovered Paper February average index values Feb 25, 2020

Jan 31, 2020

COVERAGE NOTE: Open consultation on FOEX methodology for PIX European Pulp and Recovered Paper Price Indices

Jan 23, 2020

COVERAGE NOTE: Fastmarkets moves to annual methodology reviews across PRA divisions

Jan 22, 2020

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Implementation

Jan 7, 2020

COVERAGE NOTE: Changes to US Newsprint Coverage – Implementation

Dec 23, 2019

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Final Decision

Dec 23, 2019

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Final Decision

Dec 12, 2019

COVERAGE NOTE: Weighting cap added to PIX Pulp & Paper and Biomass indices

Dec 4, 2019

COVERAGE NOTE: PIX publishing dates during the year-end holiday season

Nov 29, 2019

COVERAGE NOTE: Changes to PIX Pellet Continental Coverage – Consultation

Nov 29, 2019

COVERAGE NOTE: Changes to PIX Woodchip Indices Coverage – Consultation

Nov 26, 2019

COVERAGE NOTE: PIX Pulp and Paper incorrect November monthly average values published this afternoon

Aug 13, 2019

COVERAGE NOTE: Changes to US Newsprint Coverage – Final Decision

Jul 11, 2019

COVERAGE NOTE: PIX Paper Indices - NEW PIX PAPER INDICES METHODOLOGY AND SPECIFICATIONS

Jul 1, 2019

COVERAGE NOTE: PIX Packaging Europe Indices - NEW METHODOLOGY AND SPECIFICATIONS

Jun 28, 2019

COVERAGE NOTE: PIX US Pulp Index - NEW METHODOLOGY AND SPECIFICATIONS

Jun 27, 2019

COVERAGE NOTE: Call for comments on new indices for the MENA region

Jun 26, 2019

COVERAGE NOTE: PIX Bioenergy - New PIX PELLET NORDIC INDEX METHODOLOGY AND SPECIFICATIONS

Jun 4, 2019

COVERAGE NOTE: Changes to US Newsprint Coverage - Consultation

May 24, 2019

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Final Decision

Apr 18, 2019

COVERAGE NOTE: Changes to PIX Forest Biomass Finland – Consultation

Mar 21, 2019

Change in the publishing time of the PIX Pulp & Paper indices - Notice of Implementation

Mar 7, 2019

Proposed change in the publishing time of the PIX Pulp & Paper indices - Consultation

Mar 1, 2019

PIX Recovered Paper Europe Indices - Methodology Update

Nov 1, 2018

PIX Pulp Europe Methodology and Specifications - Adjustments

Apr 5, 2018

PIX Recovered Paper Europe Indices -New Methodology

Dec 8, 2017

Changes to PIX China Indexes

Apr 4, 2017

PIX Pulp China Net Indices - Launch