INDEX NOTICE: Mysteel proposing to change close of market time to 6.15pm for SEADEX indices
The proposed change to the methodology will state: Mysteel has a 24-hour data collection window. All of the samples collected are from 6:16pm the day before to 6:15pm on the day of the assessment. If the data is collected after 6:15pm on the day, it will automatically be used as a sample for the next day.
This will also impact the current publishing time. At present Mysteel states that the Mysteel Indices are published at 6.30pm. In light of the proposed change, Mysteel will endeavour to publish the indices promptly when they are complete. There will be no stated fixed publishing time if the proposed close of market change proceeds.
This proposed change will only impact the SEADEX (Seaborne) suite of indices. The existing PORTDEX (Portside) close of market and publishing time will remain the same. All SEADEX indices will be impacted, the full list can be found in the Iron Ore Methodology.
The consultation has been ongoing since February 2019 and will remain open for a further four weeks. Feedback from the market is welcome until Monday 29th April 2019, when the consultation period will close. All comments received will be considered and will be made available upon request, unless explicitly marked as confidential.
The proposed change is planned to commence on Monday 6th May, 2019, dependent on the result of the market consultation.
Mysteel is committed to providing Iron Ore price assessments that reflect current and evolving market trends.
Please send any feedback or questions to MIODEX@mysteel.com
Alina Arnold, Head of Indices alina.arnold@mysteel.com
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