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.