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 coverage notes. 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.
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/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX Pellet Nordic
HELSINKI, February 25, 2021 (PIX Biomass and Wood Indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Pellet Nordic price index, as part of its annual methodology review process.
The open consultation, which is open until March 25, 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 in the current index methodology or specifications. You can find these for FOEX PIX Pellet Nordic price index here.
Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the subject heading "PIX Pellet Nordic 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 April 8, 2021, on Fastmarkets FOEX website under Coverage Notes/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.
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Recovered Paper Price Indices
HELSINKI, February 24, 2021 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX European Recovered Paper price indices, as part of its annual methodology review process.
This consultation, which is open until March 24th, 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 Recovered Paper Europe 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 RCP 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 April 7th, 2021, on Fastmarkets FOEX website under Coverage Notes/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.
COVERAGE NOTE: PIX Paper weighting scale updated
HELSINKI, February 23, 2021 (PIX Pulp and Paper Indices) - Fastmarkets FOEX has updated the weighting scale (Appendix 1) of the PIX Paper methodology in response to the continued structural consumption decline on the graphic paper market. This update ensures that the weighting scale better corresponds to the current market situation. The methodology including the weighting scale can be found here.
Weighting between price providers is achieved by assigning more price points to larger buyers/sellers than to smaller ones. The number of price points assigned to each provider is scaled by the annual volume of sales or purchases of paper in each index grade group (LWC, CWF, copy paper and newsprint). Volumes are checked in January to define the weighting for that year and the weighting scale may be updated and republished annually.
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.
COVERAGE NOTE/PRICING NOTICE: Open consultation on Fastmarkets FOEX methodology for PIX European Pulp Indices
HELSINKI, January 29, 2021 (PIX Pulp and Paper indices) - Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX European Pulp price indices, as part of its annual methodology review process.
This consultation, which is open until February 26th, 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 Pulp Europe price indices (PIX NBSK and PIX BHKP) 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 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 March 12th, 2021, on Fastmarkets FOEX website under Coverage Notes/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.
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: 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