FOEX Indexes Ltd is engaged in developing the PIX price index methodology and process to be compliant with IOSCO’s Principles for Price Reporting Agencies (PRA).
Compliance requires PRA’s to have defined guidelines and policies in place to ensure consistent and standardized procedures, in FOEX’s case the production of the PIX price indexes. (IOSCO, International Organization of Securities Commissions, www.iosco.org).
The PIX Pulp Europe Methodology and Specifications, The FOEX/RISI Confidential Contributed Data Protection Protocol, The FOEX Complaints Policy and The FOEX Conflict of Interest Policy are gathered in the web-site section PIX Methodologies & Policies.
The PIX price indexes are prepared and published according to defined specifications and key principles, some of them listed below, which are common for all PIX price indexes:
- The PIX price indexes are calculated from price data received from buyers and sellers
- Index-system is audited (by Ernst & Young)
- Index values are never retroactively modified
FOEX is acknowledged with an anti-trust clearance in Europe by EU/DG IV. Following issues were agreed upon:
- FOEX is acknowledged with an anti-trust clearance in Europe by EU/DG IV
- FOEX is not allowed to do price forecasting
- Participation to the index formation process must be voluntary and free of charge
- Participants must be allowed to remain anonymous
PIX Indexes and launch dates