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Xeneta and Compass Financial Technologies Partner to Launch the Industry’s Most In-Depth Daily Container Freight Index

--News Direct--

Xeneta, the leading ocean and air freight rate benchmarking, market analytics platform and Compass Financial Technologies, the major financial index provider for alternative asset classes, announced today the launch of the Xeneta Shipping Index by Compass, the most accurate and transparent daily container freight index available. Branded as the Xeneta Shipping Index by Compass (XSI®-C)the solution offers a EU Benchmark Regulation (EU BMR) compliant index for rolling short-term Freight All Kinds (FAK) rates, which are rates applicable to the shipping of all types of goods.

“The XSI® by Compass, provides the most reliable and in-depth EU BMR compliant short-term ocean container freight rates available,” said Xeneta CEO Patrik Berglund. “The unreliability of existing indices and their lack of transparency are what motivated us to create a new data source for the containerized ocean freight market together with the Compass team.

The contracted rate data reported to Xeneta by customers is the source data for the XSI®-C indices. Xeneta is the world’s largest ocean freight rate benchmarking platform and provides the most exhaustive source of information related to container transactions. The use of proprietary data guards XSI®-C from issues associated with third-party data sources, including problems with accuracy, reliability and transparency.

“With Xeneta’s robust, real-time data, EU BMR compliance and index calculation capabilities, XSI®-C is positioned better than any other index in the market to provide the most trusted pulse of the market,” said Edouard Mouton, founding partner of Compass Financial Technologies. “Container shipping pricing is extremely volatile and Xeneta data and solutions are already trusted by hundreds of global companies, 3 of the top 5 ocean carriers and 7 of the top 10 global freight forwarders. The EU BMR regulation and our partnership positions the XSI®-C as the backbone to support index-linked contracting and financial derivatives market.”

Xeneta’s data is what sets XSI®-C apart from other indices in the industry. Many legacy indices do not reflect the large-scale trades made by some of the biggest companies in the world. They are mainly based on quoted prices, which are disproportionately indicative. Xeneta works with some of the largest shippers in the world, so XSI’s data is not only timely but also relevant.

XSI®-C rates are available for 8 main trade corridors, calculated daily and published at 4:15 p.m. London Time. The rates are valid for less than 32 days, for a 40’ container. The XSI®-C indices are co-owned by Xeneta and Compass Financial Technologies. The benchmark administrator and index calculation agent is Compass Financial Technologies (France).

The XSI®-C can be accessed online on Xeneta website (www.Xeneta.com) and on Compass Financial Technologies website (www.compassft.com) along with additional information about the index methodology. XSI®-C indices are also available on Bloomberg and Reuters.

About Xeneta

Xeneta is the leading ocean freight rate benchmarking and market analytics platform transforming the shipping and logistics industry. Xeneta’s powerful reporting and analytics platform provides liner-shipping stakeholders the data they need to understand current and historical market behavior—reporting live on market average and low/high movements for both short and long-term contracts. Xeneta’s data is comprised of over 280 million contracted container and air freight rates and covers over 160,000 global trade routes. Customers include General Mills, Volvo, John Deere, Amer Sports, Rockwell Automation and CEVA Logistics, ABB, Electrolux, Continental, Unilever, Nestle, L’Oréal, Thyssenkrupp and more. Each relies on Xeneta to gain better market visibility into freight rate pricing factors, which enable them to minimize supply chain disruptions. Xeneta is a privately held company with headquarters in Oslo, Norway, and regional offices in New Jersey and Hamburg. To learn more, please visit www.xeneta.com.

About Compass Financial Technologies

Compass Financial Technologies is a France and Switzerland-based company specializing in the design, calculation, publication and management of market benchmarks, financial indices and customized quantitative investment strategies. Compass manages hundreds of financial indices with several billion USD of investment products linked to those indices.

Compass Financial Technologies has been registered as a benchmarks administrator by the Autorité des Marchés Financiers (AMF) in compliance with the EU Benchmarks Regulations (EU BMR).

Contact Details

Katherine Barrios

+47 951 46 414

press@xeneta.com

Compass Financial Technologies

Media Contact

media@compass-ft.com

View source version on newsdirect.com: https://newsdirect.com/news/xeneta-and-compass-financial-technologies-partner-to-launch-the-industrys-most-in-depth-daily-container-freight-index-145992025

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