NEW YORK, Feb. 14, 2006 (PRIMEZONE) -- Dow Jones Indexes, a leading global index provider, today announced the launch of the Dow Jones Midwest OCC Index, the first in a series of recovered paper indexes that track physical transactions of corrugated paper in eight U.S. regions.
The new Dow Jones Recovered Papers Index series is designed to serve as benchmarks for market participants in the recovered paper industry to research and assess price risks and to settle contracts.
The Dow Jones Midwest OCC Index will be available on the 10th business day of the month on the Dow Jones Indexes and Dow Jones Newswires web sites and will be published in the Wall Street Journal on the 11th business day of the month, starting in February.
"In the energy business, it is vital for producers, traders and investors to have the most precise and objective pricing information available," said Michael A. Petronella, president of Dow Jones Indexes/Ventures. "Our transaction-based indexes average out wholesale prices -- as opposed to giving a range of price values -- to provide the best risk management tools. Similar to our steel and energy indexes, we believe our recovered paper indexes will be instrumental in the creation of an active futures market for that industry."
The Dow Jones Midwest OCC Index is a volume-weighted measure of monthly transactions of OCC No. 11 -- a grade of recycled paper -- that occur in the Midwest region. Participants provide Dow Jones Indexes with the price and volume information used to calculate the index. Both parties sign confidential disclosure agreements with audit provisions before the data is used. This process ensures the accuracy and privacy of information submitted.
The index was created through the consultation of the Dow Jones Recovered Papers Index Advisory Board, whose members include leaders in the paper, recycling and financial industries. The Board's role is to ensure that the index's methodology and calculation reflect the needs and demands of the industry.
The Dow Jones Recovered Papers Indexes joins an expanding family of transaction-based benchmarks, which currently include the Dow Jones U.S. Electricity Indexes, Dow Jones Steel Indexes and Dow Jones European Energy Indexes. Additional regional OCC indexes for the New England, Mid-Atlantic, Southeast, Southwest, Pacific Northwest, and Northern and Southern California areas are expected to launch later this year.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: + 49-69-97142815
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About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
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