LONDON, March 8, 2019
LONDON, March 8, 2019 /PRNewswire/ -- CRU successfully completes independent assurance review for its leading, transaction-only based, CRU-API (Alumina) price.
CRU has successfully completed an external assurance review of its CRU Alumina Price Index (CRU-API), carried out by independent professional services company PricewaterhouseCoopers LLP (PwC). CRU has prepared this report to underline its adherence to the International Organization of Securities Commissions' (IOSCO) Principles for Oil Price Reporting Agencies.
Independent research has demonstrated that the CRU-API is used widely in the settlement of physical contracts, and it will be used in the settlement of the London Metal Exchange's new cash-settled Alumina futures contract, due to launch on 11 March 2019.
"CRU's report demonstrates its ongoing commitment to providing the most robust price benchmarks for physical and derivative markets through a range of strong and appropriately designed policies and procedures in accordance with the requirements of the IOSCO Principles. Together with our company's values of quality and integrity, and our market-leading research and analysis capability, our IOSCO adherence is a crucial pillar that engenders the market's trust in our prices." CRU Group CEO David Trafford said.
"The correct structures, operation of processes and application of the best and most appropriate methodologies are essential in upholding the proper governance of CRU's prices. We have and we will continue to invest in our compliance function, analysts, systems and independent external review and assurance. This will ensure our price assessments endure as the most reliable indicators of commodity market values in the service of our stakeholders." CRU's Compliance Lead Claire Ballak added.
To request CRU's report, including the independent assurance report, or if you have further queries please contact firstname.lastname@example.org. Full details of CRU's CRU-API methodology and our are overall compliance framework and methodologies are detailed online.
For more information on the use of the CRU-API in financial derivatives market, please read more via the online statement here:
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