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Home » Xeneta and Compass Financial Technologies Partner to Launch Daily Container Freight Index

Xeneta and Compass Financial Technologies Partner to Launch Daily Container Freight Index

December 21, 2021
SupplyChainBrain

Xeneta, an ocean freight rate benchmarking and market analytics platform, and Compass Financial Technologies, a financial index provider for alternative asset classes, announced the launch of the Xeneta Shipping Index by Compass, a daily container freight index. Branded as the Xeneta Shipping Index by Compass, the solution offers an 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,” says Patrik Berglund, CEO, Xeneta. “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.” 

“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, three of the top five ocean carriers and seven 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.” 

About Xeneta

Xeneta is an ocean freight rate benchmarking and market analytics platform transforming the shipping and logistics industry. Xeneta’s 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 comprises over 280 million contracted container and air freight rates and covers over 160,000 global trade routes. Xeneta is a privately held company with headquarters in Oslo, Norway, and regional offices in New Jersey and Hamburg. 

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.

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