European power and gas liquidity hit by Mifid II fears
Uncertainty over the impact of new European Union (EU) rules on energy traders is making it more difficult to transact in over-the-counter derivatives on longer-dated power and gas, say market participants.
"We've definitely seen a decrease in liquidity on the longer-dated tenors, across the European gas hubs and across the energy commodities, due in some part to regulatory uncertainty," says Riccardo Bortolotti, London-based head of energy corporates and commodity derivatives for Europe, the
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