NEW YORK, Aug. 9, 2007 (PRIME NEWSWIRE) -- Dow Jones Indexes, a leading global index provider, today announced the launch of seven Dow Jones Recovered Papers Indexes, one for each U.S. region that participates in physical transactions of OCC #11 grade corrugated paper. The Dow Jones Midwest OCC #11 Index, the first index in the series, was launched in February 2006.
The new indexes are the Dow Jones New England OCC #11 Index, Dow Jones Southeast OCC #11 Index, Dow Jones Mid-Atlantic OCC #11 Index, Dow Jones Southwest OCC #11 Index, Dow Jones Pacific Northwest OCC #11 Index, Dow Jones Northern California OCC #11 Index and Dow Jones Southern California OCC #11 Index.
The 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. OCC #11 is the most widely traded commodity in the recovered paper industry.
"The Dow Jones Recovered Papers Index series provide industry participants with the most accurate and independent pricing information available needed to make appropriate risk and price assessments. The advantage of these indexes is that they average out wholesale monthly transactions, which is a more precise reflection of market activity. The Dow Jones Midwest OCC #11 Index has gained wide industry acceptance since its February 2006 launch, and we expect the complete index suite will serve as the leading benchmarks for this important niche," said Michael A. Petronella, president of Dow Jones Indexes. "We plan to further expand our index offerings for other paper grades in the future."
The Dow Jones Recovered Papers Indexes are volume-weighted measures of monthly transactions of OCC #11 -- a grade of recycled paper -- that occur in each of eight U.S. regions. 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 indexes were 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.
The Dow Jones Recovered Papers Indexes will be available on the 6th business day of the month on the Dow Jones Indexes (http://djindexes.com) and Dow Jones Newswires (http://dowjonesnews.com) Web sites. The indexes also will be distributed directly by Dow Jones Indexes via electronic subscription.
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: +49-69-29-725-290
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About Dow Jones Indexes
A full-service index provider, Dow Jones Indexes develops, maintains and licenses indexes for use as benchmarks and as the basis of investment products. Best known for the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner of the Dow Jones STOXX indexes, the world's leading pan-European indexes, and together with Wilshire Associates, provides the Dow Jones Wilshire Global Index family, which is anchored by the Dow Jones Wilshire 5000 and covers more than 12,000 securities in 59 markets. Beyond equity indexes, Dow Jones Indexes maintains a number of alternative indexes, including measures of the hedge fund and commodity markets. Dow Jones indexes are maintained according to clear, unbiased and systematic methodologies that are fully integrated within index families. www.djindexes.com
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