Argus Media completes IOSC compliance for biomass price benchmarks

In the UK, Argus Media, has successfully completed an external assurance review of the policies and processes that it uses to establish price benchmarks for thermal coal, coking coal, natural gas and biomass. These processes are designed to ensure compliance with the principles for price reporting agencies set out by the International Organization of Securities Commissions.

Argus Media is the first price reporting agency to successfully complete such an assurance review in relation to non-oil benchmarks, as recommended by IOSCO. Argus Media led the way in October 2013 with the first independent review of oil benchmarks. The independent assurance provider, PwC, reviewed a detailed description of the policies and procedures established and implemented by Argus Media to ensure compliance with the requirements of the IOSCO PRA Principles.