Griese indices publishes the most relied upon price assessments in the global forest product industry, stakeholders throughout the industry, including producers, buyers, traders and financial actors use these indices for contracts worth tens of billions of dollars per year? Underlying price assessments from ricci indices is our commitment to the key principles of transparency, independence, rigorous methodology and antitrust compliance. Providing transparency into the global forest products market is reese’s core mission. Our price assessments help market participants and observers get an objective view of prices in markets that are often opaque in difficult to observe. Thus helping these markets operate more efficiently! Ricci is completely independent in its assessment of market prices, it has no affiliation with buyer’s or seller’s of forest products and no vested interest in the prices reported.
Ricci employees adhere to a comprehensive conflicts of interest policy and ricci indices as a separate business unit from reese’s forecasting activities. Greece’s price assessment methodologies are designed to maximize the accuracy and reliability of each price. We report reese’s indices, are compiled by editors and analysts, who survey market participants to find out prices of agreed transactions, as well as bids offers and other market information.
Price contacts include both buyers and sellers of a given braid, a critical requirement to ensure that our price assessments are an accurate representation of market activity. Throughout the reporting period, greece’s price analysts collect information from buyers and sellers about transactions for specific grades and regions!
Each price reported is then vetted to ensure it meets the specifications of the given index, eliminating transactions already index to the receipt price to avoid circularity, identifying and removing prices with special circumstances, rending them unrepresentative of the broader market. Reisi then compiles the data applying higher weights to larger transactions, who better supported data and publishes a final price reflecting our assessment at the level at which the majority of transactions between buyers and sellers has taken place for the specific grade reported information about prices is a sensitive area of antitrust law, reese’s assessment, minimize antitrust risks through effective methodology, design and policies to avoid conflicts of interest! Furthermore, the identity of contributors to resi price indices is strictly confidential, and the data presented in indices are always aggregated in such a way that it is impossible to deduce the identity of any data contributor ricci, conducts annual internal audits of price coverage in each market to ensure that assessments remain accurate and relevant. Also ricci is currently implementing the relevant principles for oil price reporting agencies put forth by iosco the international organization of securities commissions, while these principles are designed for oil price reporting agencies, ricci indices is adapting the principles for the forest products market, while price assessments from ricci indices are already relied upon around the world by thousands of industry professionals and as reference prices in billions of dollars of supply contracts. Our commitment to transparency pushes us to continually improve our assessments!
We invite your feedback, please email prices at ricci comm, with your thoughts, [music]. !