Regulation
EU commodity position limits too cumbersome, firms say
Firms argue that EU commodity derivatives position limit proposals under Mifid II are bad for end-users and the energy market
Iosco likely to act on commodity storage concerns
The role of warehouses and other storage facilities in commodity derivatives is likely to be targeted in new Iosco principles, or a more rigorous application of existing ones, says a senior regulator
US record-keeping rule hits commodity derivatives end-users
Changes to CFTC rules following the US Dodd-Frank Act are forcing end-users to retain piles of pre-trade communications and other business records. The commission has moved to relax the burden on end-users, but companies are still grumbling about the red…
Commodities regulation since the financial crisis
Risk.net presents an interactive timeline looking at major regulatory developments affecting commodity markets since the global financial crisis of 2008
Energy firms hammer CFTC over position limits rule
The bona fide hedge exemptions in the CFTC's proposed position limits rule have come under attack from energy companies
Metals traders shun clearing due to Emir, says LME chief
Emir's introduction of segregated clearing accounts is pushing firms towards trading OTC, says LME head Garry Jones
Remit delegated reporting leaves unanswered questions
EU energy traders have until October to begin reporting the details of standard power and natural gas trades to regulators under Remit. But the exact process by which many of these initial contracts will be reported remains blurry
LME eyes Asian growth while dealing with regulation
Under chief executive Garry Jones, the London Metal Exchange is eagerly pursuing Asian growth. But the exchange is also spending much of its time dealing with the consequences of stricter regulation in more mature markets
Republicans in Congress set to push Dodd-Frank fixes
With Republicans now in control of both houses of the US Congress, energy firms and other derivatives end-users are hoping for new legislation to ease some of the more troublesome aspects of the US Dodd-Frank Act. Their optimism is justified - up to a…
Dodd-Frank reporting rule hurts hedgers, Massad admits
CFTC head acknowledges difficulty faced by hedgers in illiquid commodities from Dodd-Frank reporting rules
Regulation makes data top concern for energy traders
IT teams are playing a vital role in helping energy traders comply with regulation, improve the quality of internal reporting and manage with lower technology budgets. But they face big challenges, particularly when it comes to integrating data
Energy trading firms unready for Remit, survey finds
IT systems not geared for trade reporting under EU anti-manipulation law
CFTC’s Bowen demands action on position limits
Time for CFTC to ‘bite the bullet’ on controversial rule, Democratic commissioner says
Goldman upbeat on commodities despite tighter regulation
Adapting to new rules and capital requirements is achievable, says Agran
CFTC urged to co-operate with EU on position limits
US rules should take effect simultaneously with Mifid II, argues FIA
Market manipulation push is widening the compliance gap
European and US energy regulators must decide how aggressive they wish to be when it comes to enforcing fraud-based anti-manipulation rules. Taking things too far could harm market efficiency and stifle the benefits of competition, argue Shaun Ledgerwood…
Dodd-Frank reporting lets traders prey on hedgers
The US Dodd-Frank Act has foisted transparency on derivatives markets by requiring the public reporting of over-the-counter trades. But some end-users are crying foul, as the new rules cast a spotlight on the once-hidden execution of their hedging…
Energy traders seek deal on Remit delegated reporting
Efet is working to prepare a standard framework for delegated reporting under Remit with energy exchanges and brokers, before an October deadline for reporting kicks in
‘Over-broad’ CFTC rules hurt end-users, Giancarlo says
Chris Giancarlo, the sole Republican on the US Commodity Futures Trading Commission, says Dodd-Frank rules are failing energy firms, farmers and other hedgers. In an exclusive interview with Alexander Osipovich, he urges a rethink of the agency’s…
CFTC chairman vows to 'get it right' on position limits
Chairman seeks to reassure farmers worried about bona fide hedge exemptions in proposed position limits rule
CFTC slammed for using ‘ancient’ position limits data
Energy firms are criticising the CFTC's proposed rule on commodity derivatives position limits under Dodd-Frank, saying it relies on decades-old data to set spot-month limits
Mifid II must recognise that commodities are different
Mifid II is one of the most significant pieces of post-crisis financial reform, and threatens to engulf commodity trading firms in rules aimed squarely at financial services firms
Knowing your territory is vital for energy firms
Energy firms must operate in many different countries, with a variety of legal systems and cultural traditions. Strong knowledge of these areas is crucial if companies are to avoid being ensnared in a legal and regulatory minefield, writes Vincent…
Commodity trading firms piece together Mifid II jigsaw
Mifid II is certain to have a big impact on commodity trading firms, but market participants say that piecing together the precise effect of the legislation is difficult due to undefined terms and its complex links with other European rules. Stella…