Fastmarkets revealed Thursday that it has successfully concluded its annual independent assurance review, reaffirming its alignment with the International Organization of Securities Commissions (IOSCO) Principles for Oil Price Reporting Agencies.
Fastmarkets Completes Annual Assurance Review, Reinforces Commitment to IOSCO Compliance
The review, conducted by BDO and completed as of June 30, 2025, assessed Fastmarkets’ methodologies and governance across key price assessments and indices spanning metals and mining, forest products, and agricultural markets.
It also included benchmarks administered by Fastmarkets Benchmark Administration Oy (FBA Oy), the group’s Finland-based entity responsible for EU Benchmark Regulation (BMR) compliance.
“This year’s assurance review underscores our dedication to transparency, integrity and rigour in price reporting,” said Raju Daswani, CEO of Fastmarkets. “The confirmation of our alignment with IOSCO PRA Principles highlights the robustness of our methodologies and governance.
“With 13 additional benchmarks now achieving IOSCO Type 1 accreditation, we remain committed to providing trusted, compliant and high-quality pricing solutions for global commodity markets.”
The IOSCO Principles set out a globally recognised framework to ensure transparency, consistency and accountability in benchmark governance.
The review process evaluates control systems, policies, and methodologies to determine adherence to these standards.
The European Securities and Markets Authority (ESMA) confirmed that this year’s review also meets audit requirements under paragraph 18 of Annex II of the BMR for commodity benchmarks.
