London, 02 July 2015 – ICIS is pleased to announce that it is licensing its crude oil BFOE benchmark data to the ICE Futures Europe to be used in the compilation of the ICE Brent IndexTM.
ICIS is providing ICE Futures Europe with its BFOE assessment and trade data, taking data five times daily and is producing this information in accordance with established ICIS methodologies (click here for our methodologies).
The ICE Brent Index is published by ICE Futures Europe on a daily basis at 12:00 noon London time and is used to create the final cash settlement price for ICE Brent futures at expiry.
Christopher Flook, Managing Director of ICIS said:
“We have been covering global crude oil markets for over 30 years and are pleased to provide trusted benchmark data to the world's largest crude oil exchange.”
ICIS BFOE assessments are compiled daily by a global team of dedicated crude oil reporters operating from our London, Houston and Singapore offices.
The ICIS BFOE assessments are audited annually against the IOSCO Principles for Oil PRAs. The last such audit took place in September 2014.
Richard Street, Head of Regulation and Compliance said:
“A key feature of the ICIS market data is its compliance with the standards set by IOSCO. ICE Futures Europe can have confidence knowing that the ICIS BFOE benchmarks are covered by our compliance standards which meet the IOSCO PRA Principles.”
Click here for more details.
ICIS has been reporting on oil markets for over 30 years through the London Oil Reports (LOR) brand.
ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. Some 350 of ICIS’s staff are journalists engaged in reporting market prices and news, and ICIS is fully committed to upholding the highest journalistic principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles.
About Reed Business Information
Reed Business Information provides information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
About RELX Group
RELX Group plc is a world-leading provider of information solutions for professional customers across industries. The group employs about 28,000 people of whom half are in North America.
Reed Elsevier PLC is the London Stock Exchange listed vehicle for holding shares in RELX Group. Shareholders in Reed Elsevier PLC own a 52.9% economic interest in RELX Group. Reed Elsevier NV is the Amsterdam Stock Exchange listed vehicle for holding shares in RELX Group. External shareholders in Reed Elsevier NV own a 47.1% economic interest in RELX Group. The combined market capitalisation of the two parent companies is approximately £24bn/€32bn. Its shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL.
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