opis_logoOil Price Information Service (OPIS), an independent price reporting agency based in Gaithersburg, Md., announced that it is an original signatory to The Price Reporting Code for Independent Price Reporting Organizations (the IPRO Code), a set of voluntary principles that demonstrate OPIS’s ongoing commitment to transparency, objectivity and fairness in spot market price assessments.

By signing and adopting the IPRO Code, OPIS said in a statement, it codifies, formalizes and institutionalizes its long-standing practices that ensure delivery of spot price assessments that represent fair market value.

It is important to note the IPRO Code is just the framework of a much broader and more robust compliance strategy OPIS has agreed to as part of the voluntary Principles for Oil Price Reporting Agencies constructed by the International Organization of Securities Commissions (IOSCO), OPIS noted.