COVERAGE NOTE: PIX China - proposed schedule change and open consultation
HELSINKI, Finland, June 5, 2020 (FOEX) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX China Pulp price indices, as part of its announced annual methodology review process. At the same time, Fastmarkets FOEX is proposing a change in schedule to publish the indices on Fridays rather than Tuesdays from September.
The open consultation, which is open until July 3rd, 2020, 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.
FOEX also proposes to change the weekly publishing day for the PIX China Pulp indices from Tuesday to Friday as of September, 2020. This would enable us to capture price data for the current week and therefore produce a timelier index. The first PIX China Pulp indices published under the new schedule would be on September 4th. No change in schedule is planned for other PIX indices at this time.
You can find the current methodologies of FOEX PIX China Pulp price indices (PIX NBSK and PIX BHKP) here.
Please send responses in writing, preferably in electronic format, to the following address: email@example.com. Please add the subject heading “PIX China Pulp 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, July 17, 2020, 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.