Key Principles
Defined standards and key principles
The PIX indexes are prepared and published according to certain defined standards and key principles. These and other significant points are presented below.
- The PIX price indexes are calculated from price data received from buyers and sellers of the commodity/product in question
- FOEX is totally independent, no ownership links to any forest product companies
- Buyers and sellers are evenly distributed as price donors
- High number of participants to each PIX index; no index is launched until statistically reliable
- Index-system is audited (by Ernst & Young)
- A 4-member expert panel is available as advisors and trouble-shooters in case of claims
- Index values are never retroactively modified
- Market information is delivered to participants (and sold to outsiders), FOEX analyses past and present.
FOEX is acknowledged with an anti-trust clearance in Europe by EU/DG IV
Following issues were agreed upon:
- 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
(FOEX never mentions names of those who participate or who do not participate) - Indexes are published on the FOEX web-site and also by international information providers
PIX Indexes and launch dates
