New ReMA Member Profile: TTOBMA

Trade Tree Online (TTO) and Brian McClay & Associates (BMA) are affiliated brands that offer complimentary services to provide reliable and up-to-date pulp and paper market intelligence. The companies together operate as TTOBMA.

TTO was launched in March 2016 to produce open-market, transactions-based pulp net-price indices that track and demonstrate real market movements. TTO publishes monthly pulp net-price indices for benchmark grades in major markets like China, Europe, and North America.

Established in 1997 to help subscribers with pulp market information and insight, BMA helps subscribers understand and track current pulp market conditions and to forecast and analyze short to long-term trends in pulp demand, supply, and net prices.

ReMA News had the chance to chat with Ceri Krening, Director of Recovered Paper at TTOBMA, to talk about the company and her own experience in the recycled materials industry, and her short- and long-term goals for TTOBMA.

Can you tell me about TTOBMA and the services they offer?

Brian McClay, the president of BMA and the chairman of TTO LLC is a long-term pioneer in the pulp world.  Together with Fraser Hart, TTOBMA’s managing partner, they founded the TTO indices to provide more transparency to often opaque and confusing pulp and paper pricing.   Together, they realized that there was one primary index for all the pulp in the world there’s millions of dollars traded on it, everyone complains about it, and thought the industry could benefit from a more structured approach to collecting and setting reference prices. So, they started indices based on open-market transactions in 2016 and this concept has supplanted traditional list pricing and now is used for roughly half of all North American pulp contracts.

Later they saw similar needs in the recovered paper and tissue sectors. Now, TTOBMA publishes net price indices, forecasts, and up to date information in all three categories. Other verticals are on the horizon as well, stay tuned.

How did you hear about ReMA? How did TTOBMA decide to join the association?

I knew about the association throughout my career.  TTOBMA was more pulp focused, so when they brought me on board earlier this year, they wanted to figure out where to go and who to network with to grow our recovered paper division.  When I started, I made the case that the investment in ReMA membership would be worthwhile for us. For the advocacy and lobbying on a national level you really need to be in with ReMA. I also knew that joining ReMA would be a great networking opportunity and a chance for me to get in front of people and make new contacts.

What does your work look like day to day as director of recovered paper?

I’ve been in the industry, in one facet or another for over 25 years. My most recent stint was working at WM as a Commodity Marketing Manager for 13 years. I bought and sold nearly 50,000 tons a month in the West, and that was my world, my absolute favorite time in the industry. I left in 2018 and just returned in April 2025 when I met the team at TTOBMA and heard of this opportunity. I’m brand new in the role, and have much to learn, but am very excited. I think this will be my most challenging and rewarding role yet!

Honestly, I get to talk to a lot of old friends finding out who retired, switched companies, been acquired and the like. Since I’ve been gone there have been so many changes to the industry.  The whole export world changed with Green Fence and then National Sword, the pandemic changed the nature of the tissue and towel market, mill groups consolidated, it’s truly a different world. I had so many questions when I came back and wanted to know what everyone was up to. I really missed everyone; it’s like going back to your high school or college reunion for me every day!

Tell me about some of your short- and long-term goals at TTOBMA.

In the short term, my goal is to increase awareness of the TTO indices within the recycling community.  There have been complaints for years about the opacity of recovered paper indices and the challenges with premiums that are always moving around.  TTO provides a much more transparent solution that I think is a huge benefit to the industry and we are already seeing significant interest from many of the major buyers and sellers in the space.

In the long term I want to continue to expand our coverage and analysis in the recovered paper space.  Similar to pulp, there are millions of dollars traded in this market and the lack of analytical tools and solid data creates a tremendous opportunity to add value. TTOBMA provides a lot of outreach and education about the industry. Actually, TTOBMA has partnered with the International Forest Products Transport Association (IFPTA) to hold the Forest Products Transport Symposium from October 5-7, 2026. We’re steering that symposium, and we think that will be good education and outreach given the concerns surrounding the global market. Pulp and paper are a major part of shipping to and from the U.S.

I also want to continue my education on major concerns that are impacting the industry. Right now, we don’t do a lot with the west coast due to the lack of mills there now, sadly. We’ve published a west coast export index; however, we have many parameters to get through in order to launch an index in a specific region. So, my marching orders are to build out those granular regions that we aren’t currently publishing because our subscriber partners want the information and seek an alternative. I would like to get more involved with ReMA, my local recycling coalitions, and continue to develop our recovered paper division at TTO BMA.

Image Courtesy of TTOBMA.