Shanghai Metals Market (SMM) is China’s leading integrated internet platform provider of nonferrous and ferrous metals, Since 2020, we have successfully passed the external audit verification of the financial market benchmark principles established by the International Organization of Securities Commissions (IOSCO) for the first time. So far, we have successfully passed the external audit verification of the financial market benchmark principles established by the International Organization of Securities Commissions (IOSCO) for five consecutive years. Moreover, SMM is the first comprehensive service provider in the non-ferrous metal industry in China to comply with this principle through external third-party independent audits.

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 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 SMM IOSCO Compliance statement (2023)_final

This report is accompanied by Bovill’s findings following an independent review of SMM processes and policies to provide Reasonable and Limited Assurance conclusions.

SMM business is founded on its reputation for independence, accuracy, impartiality and objectivity. Our customers rely on SMM for accurate information. Customers must feel confident that information relayed by SMM, whether verbally, in print, on screen or in data form, has not been influenced by any commercial, personal or other interests. SMM has a suite of policies in place to ensure our business is compliant with the high standards our customers expect.

The international reputation of SMM has been established through dedication to getting the facts right and bringing transparency to opaque markets. We know this means employees of SMM, especially those concerned with information-gathering, content creation and publication must not engage in any activities that might damage SMM reputation for independence.

SMM compliance programme covers its entire business and includes policies, processes, standards, checks, checklists, record keeping and training.

SMM has a suite of general policies in place to ensure our business is compliant with the high standards our customers expect.