London – ICIS, a leading independent commodity intelligence provider, today announced that the independent assurance review of its price reporting business has been successfully completed for the seventh successive year.
The Price Reporting Agency (PRA) principles are set out by the International Organization of Securities Commissions (IOSCO) to ensure that commodity benchmark price reporting meets the highest standards.
“ICIS is committed to maintaining the highest standards in the quality and independence of our market intelligence. I am delighted that ICIS has again successfully completed the IOSCO Commodity PRA assurance review, to assist markets in being fair, efficient and transparent” said Dean Curtis, President & CEO of ICIS.
“The IOSCO assurance review underlines our commitment to being a credible and impartial partner for our customers, empowering them to make thousands of crucial decisions every week based on our intelligence, decisions that shape our world,” Curtis said.
The areas assured by PricewaterhouseCoopers (PwC) include governance structures, controls, maintenance of Editorial integrity, and conflict management processes in relation to the creation of commodity benchmark price assessments.
A full report detailing how ICIS has met and satisfied the IOSCO PRA Principles can be found here.
This report is accompanied by PwC’s findings following an independent review of ICIS processes and policies to provide Reasonable and Limited Assurance conclusions.
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ICIS is the world’s largest petrochemical market information provider, with divisions spanning energy and fertilizers. Our aim is to give companies in global commodities markets a competitive advantage by delivering valuable information and analytics tools which enable our customers to identify and react to opportunities in markets which are constantly evolving. We have more than 30 years’ of experience in providing pricing intelligence and news, forecast data, market analytics and independent consulting to buyers, sellers and analysts.
With a global staff of more than 600, ICIS has employees based in London, Houston, New York, Singapore, Dubai, Shanghai, Guangzhou, Beijing, Mumbai, Tokyo, Karlsruhe, and Milan. ICIS’ team of journalists is 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 (RBI) is a fast-growth provider of information and analytics, solving critical problems for businesses globally. Our strong global products and services hold leading positions across a wide range of industry sectors including finance, agriculture, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group, a global provider of information and analytics for professional customers across industries. http://www.reedbusiness.com
About RELX Group
RELX Group is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £37.2bn|€41.8bn|$47bn. www.relx.com www.relx.com