LONDON, April 30, 2019 /PRNewswire/ -- Fastmarkets, a
leading source of commodities data for the metals, mining and
forest products markets, is excited to announce that
PricewaterhouseCoopers LLP (PwC) has carried out an external
assurance review of a further four benchmark assessment and index
prices to confirm they are aligned with the International
Organization of Securities Commission's (IOSCO) Principles for Oil
Price Reporting Agencies (PRAs).
The following indexes were included in the scope of the
assurance:
- Hot-Rolled Coil Index US domestic Midwest fob mill;
- Manganese Ore Index 37%, cif Tianjin
China;
- Manganese Ore Index 44%, cif Tianjin
China; and
- Copper Concentrates TC/RC Index.
"Fastmarkets is proud to have successfully completed its third
assurance review," Fastmarkets CEO Raju
Daswani said. "The external audit of our process is in line
with our commitment to provide reliable, impartial, representative
and transparent benchmarks for the market to use in physical
trading, risk management, analysis and planning purposes."
PwC's independent assurance audit included a comprehensive
review of Fastmarkets' documentation of its processes for the
specified price assessments. The review was undertaken to meet
IOSCO's recommendation that PRAs engage an external auditor to
review and report on Fastmarkets' adherence to its own stated
methodology criteria as well as the requirements of the IOSCO PRA
principles.
To obtain a copy of the independent assurance report, please
visit:
https://u.metalbulletin.com/benchmark-assurance/
Fastmarkets has invested significantly in resources and
technology to ensure its price assessment process aligns with IOSCO
Principles. View details: https://youtu.be/gEHI_wAMSBc
View Fastmarkets' pricing methodology/specifications here:
https://www.fastmarkets.com/about-us/methodology
ABOUT FASTMARKETS
Fastmarkets is the leading price reporting, analytics and events
organization for the global metals, mining and forest products
markets. Fastmarkets' core activity in pricing drives transactions
in commodities markets around the world and is complemented by
news, industry data, analysis, conferences and insight services.
Fastmarkets includes brands such as Fastmarkets MB, Fastmarkets AMM
(previously known as Metal Bulletin and American Metal Market
respectively), Fastmarkets RISI and Fastmarkets FOEX. Its team of
over 400 people are located in 14 global offices including
London, Boston, New
York, Shanghai,
Beijing, Singapore, Brussels and São Paulo. Fastmarkets is part of
Euromoney Institutional Investor PLC (LSE:ERM), a listed company on
the London Stock Exchange. Euromoney is a leading international
business-to-business information group focused primarily on the
global commodities, banking and asset management markets.
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SOURCE Fastmarkets