Regulation
Banks counter Fed worries on physical commodities
Goldman Sachs and Morgan Stanley stress public benefits of allowing banks to trade physical commodities, while downplaying fears of catastrophic risk
CFTC upping enforcement effort, warns former chief
David Meister, former director of enforcement at the US Commodity Futures Trading Commission, speaks exclusively to Alexander Osipovich about market manipulation, high-frequency trading and the value of Dodd-Frank reporting rules for financial watchdogs
Dynegy founder Watson recalls dawn of deregulation
Dynegy founder Chuck Watson talks to Alexander Osipovich about the dawn of deregulation, the fall of Enron and what it takes to be a successful entrepreneur
Energy firms beg CFTC for clarity on commodity options
Utilities, oil producers and trading firms are urging the CFTC to issue clarification on contracts with embedded volumetric optionality
Conference highlights questions over Remit implementation
Problems encountered by Emir demonstrate issues that need to be solved before Remit reporting begins, argue attendees at Energy Risk Italia
CFTC no-action letter could end public utilities' hedging woes
CFTC exempts ‘utility operations-related swaps’ from contributing towards $25 million special entity threshold under Dodd-Frank
Renewables need stronger EU co-ordination, says regulator
Senior Italian regulator says transition towards greater use of renewables requires a “co-ordinated European approach”, including harmonised market rules
Power trading firm blasts Ferc over manipulation probe
Ferc investigation triggers unusual public defence by obscure power trading firm
Banks welcome FCA focus on commodity trading houses
UK regulator right to question risk posed by commodity trading houses, bankers argue
Enforcement director nominated for Ferc chair
Centrica hires Hess market risk director; Vattenfall names trading head; Gazprom recruits BAML power trader; Baltic Exchange names Singapore head; Mitsubishi UFJ in commodity retreat
Trade reporting special report
Derivatives trade reporting is mandatory in the US and Europe under Dodd-Frank and Emir rules. Energy Risk presents a special report
Fed probes catastrophic risks in bank physical commodity trading
The US Federal Reserve has moved to tighten the rules on physical commodity trading by banks, citing fears they might suffer huge losses as a result of an environmental disaster. How valid are such concerns and what steps is the Fed likely to take?…
Emir reporting date sparks 'mad rush' in energy derivatives market
A requirement to report trades under the European Market Infrastructure Regulation kicked in on February 12, creating a rush to comply among energy derivatives market participants. Some firms have struggled with the rules, and say a lack of support from…
Development of LME Clear proves a test of mettle
A change of ownership and an evolving regulatory landscape have thrown up big challenges for the London Metal Exchange in its quest to clear its own trades. Trevor Spanner, the chief executive of LME Clear, speaks to Mark Pengelly about the project
Energy firms' systems not ready for regulation, survey finds
ETRM systems are ill-prepared for financial and energy market regulation, according to Energy Risk survey
Isda and Sifma blast CFTC position limits rule
Industry groups sceptical of justification for new position limits rule, after suing to block previous version
Emir reporting deadline causes alarm among commodity traders
Commodity derivatives end-users hit hard by Emir reporting rules, say industry sources, especially smaller firms
Europe should unite or die, says Lowe
NWE market coupling delays highlight need for robust EU energy regulator, says former EC director general
US energy firms facing Dodd-Frank trade reporting ‘nightmare’
Differing approaches of swap data repositories haunt energy companies trying to reconcile trades
Looking back: Regulators try to slow down OTC juggernaut
Today, regulation is a fact of life for OTC commodity derivatives traders. But in April 1994, it was somewhat novel, as Energy Risk reported at the time
Energy traders breathe sigh of relief over Mifid II position limits
Mifid II exemptions for physically settled power, gas, coal and oil greeted by European energy traders
Fed moves to rein in US banks’ physical commodity trading
Under pressure from politicians, the US Federal Reserve floats proposals to tighten rules on banks in physical commodities
Commodity traders not too big to fail, suggests FSB report
Trafigura, Vitol and other trading houses unlikely to be captured by proposed criteria for global systemically important financial institutions
CFTC-Ferc deal leaves enforcement question unanswered
Agreements reached under US Dodd-Frank Act fail to address critical issue of enforcement