Shanghai Metals Market (SMM) is China’s leading integrated internet platform provider of nonferrous and ferrous metals, today announced that the independent assurance review of its benchmark reporting business has been successfully completed for the first year.
The Principles for Financial Benchmarks are set out by the International Organization of Securities Commissions (IOSCO) to ensure that commodity benchmark reporting meets the highest standards.
SMM is committed to maintaining the highest standards in the quality and independence of our market intelligence. SMM has successfully completed the IOSCO Principles for Financial Benchmarks assurance review, to assist markets in being fair, efficient and transparent. The IOSCO assurance review underlines our commitment to being a credible and impartial partner for our customers, empowering them to make thousands of crucial decisions every day based on our intelligence, decisions that shape our world.
The areas assured by Bovill (London) include governance structures, controls, maintenance of Editorial integrity, and conflict management processes in relation to the creation of commodity benchmark price assessments.
SMM successfully completes and publishes the outcome of its 1ST independent audit on its adherence to its methodology and the requirements of the IOSCO principles. A full report detailing how SMM has met and satisfied the IOSCO Principles for Financial Benchmarks can be found here.
This report is accompanied by Bovill’s findings following an independent review of SMM processes and policies to provide Reasonable and Limited Assurance conclusions.
At SMM, we provide an integrated internet platform of benchmark prices, analysis, news, consulting and conferences of the metals & mining industry. Headquartered in Shanghai, with branch office in Shandong and Guangzhou province. We have extensive network and deep-rooted relationships in China’s nonferrous, ferrous and EV metal industries. With overseas offices in Singapore and the well-built sales network, we serve our customers in the global metal ecosystem. At SMM, we help you ‘Know the REAL China’ from a global perspective.
In China, SMM’s flagship portal (www.metal.com and www.smm.cn) engages the most customers in the Chinese metals industry and has the largest volume of unique daily visitors. Our extensive database covers over 20 years of historical data and receives over 200,000 page views per day.
Use SMM benchmarks with confidence
Choosing SMM means you can be sure that the highest quality standards have been met every time. Our benchmarks are derived from data gathered from a wide cross-section of each market, including consumers, producers, traders and distributors.
We adopt a rigorous methodology and every benchmark is checked, verified and free from conflict of interest. Most importantly, in every case, we meet all the International Organization of Securities Commissions (IOSCO) principles for Financial Benchmarks – the regulations set to ensure that commodity benchmark price reporting meets the highest standards.