Regulation
Senators turn up the heat on physical commodities
A key US Senate subcommittee has put the spotlight on banks’ involvement in physical commodities, raising pressure on the Federal Reserve to impose tough restrictions
Mifid II commodities impact to hinge on trading venues
The evolving definition of an organised trading facility under Mifid II is worrying commodity market participants due to its critical role in determining whether certain energy trades fall under financial rules
CFTC’s Giancarlo slams automatic cut to dealer threshold
Republican commissioner Chris Giancarlo is calling for the CFTC to hold a "proper vote" and seek industry input before de minimis threshold is slashed from $8 billion to $3 billion in 2017
Energy exchanges can share the burden of Remit
It's easy to see why smaller energy trading organisations become frustrated trying to deal with the demands of the European Regulation on Wholesale Energy Market Integrity and Transparency. But exchanges can play a vital role in sharing the burden,…
US energy firms welcome CFTC tweaks to Dodd-Frank rules
Long-awaited move to address ‘seventh prong’ problem seen as positive step by industry groups
Utility firms struggle to fend off Emir clearing
Europe’s largest utilities are concerned at the prospect of having to clear all their over-the-counter derivatives trades under the European Market Infrastructure Regulation (Emir). But although there are options for avoiding clearing under Emir, whether…
Financial entity definition worries US utilities
US utilities fret their trading units could be classified as financial entities under Dodd-Frank, forcing them to clear all their OTC derivatives and face other regulatory requirements
CFTC chairman offers hope to derivatives end-users
Timothy Massad, the new chairman of the US Commodity Futures Trading Commission, seems to be steering the agency towards a more deliberate and pragmatic approach to Dodd-Frank regulation
Energy firms voice optimism over CFTC's Massad
The new chairman of the US Commodity Futures Trading Commission is moving to fix regulatory problems afflicting energy firms and says he will listen closely to their input on the agency's remaining Dodd-Frank Act rules. The shift is being welcomed by the…
Utilities face pressure to clear OTC derivatives
Utilities are trying to avoid OTC derivatives clearing under Emir, but industry observers say bank capital requirements and rules on non-cleared derivatives may yet force them to clear their trades
CFTC’s Giancarlo set to revive energy advisory committee
CFTC's revamped Energy and Environmental Markets Advisory Committee will focus on impact of Dodd-Frank regulations on US energy companies, Giancarlo says
CFTC's Wetjen urges fix to commodity options problem
CFTC commissioner says seven-part test on definition of a swap under Dodd-Frank "was not specific enough or clear enough" for industry participants
CFTC close to fixing Dodd-Frank commodity option woes
The Commodity Futures Trading Commission is said to be exploring solutions for the so-called 'seventh prong' problem created by its definition of a swap under the Dodd-Frank Act
Panel bemoans impact of EU regulation on energy market
Worries about the impact of EU financial rules, such as Emir and Mifid II, are highlighted among a panel of compliance experts at Energy Risk Summit Europe
Mifid II doomsday awaits energy firms, conference told
Speaking at Energy Risk Summit Europe, compliance officer at Shell International Trading & Shipping warns of “serious threat” posed to energy traders by Mifid II
Energy companies facing ‘intrusive’ CFTC special calls
The US Commodity Futures Trading Commission is stepping up its market surveillance activities, issuing special calls to numerous firms that trade over-the-counter swaps. That is causing headaches for smaller energy companies tangled up in the dragnet…
CFTC gripped by fiscal year-end hiring frenzy
Budget uncertainties are leading the CFTC to make a last-minute hiring push before a September 30 deadline, in what has become an annual tradition for the agency
Energy companies divided on approach to Emir clearing
European utilities are concerned about breaching Emir thresholds requiring firms to clear their OTC derivatives trades, while oil majors are resigned to the idea
Market manipulation won’t be stopped by Socrates or Spinoza
Despite all the headlines about market manipulation, business school ethics classes are not the answer, writes Vincent Kaminski. Instead, it must be emphasised that graduates have much to lose and little to gain from engaging in market abuse
Mexico to rein in CFE and Pemex market power
Regulators will not allow state-owned electricity and oil and gas companies to abuse their dominance and stifle private competition, says CRE commissioner
US energy firms cheer regulators’ shift on margin rule
In an about-face, the Fed and other bank regulators exempt non-financial end-users from requirement to post margin on non-centrally cleared swaps
Energy firms face Emir confirmation challenge
A looming deadline for confirming OTC derivatives is expected to cause problems for smaller energy firms, which may find themselves blocked from trading with bigger counterparties
CFTC quietly amassing data on natural gas swaps
Numerous energy companies have received special calls from the CFTC in the past year, say lawyers, but the reasons for the agency's interest remain murky
Tougher UK Remit sanctions to be felt across EU
Proposed UK criminal penalties for manipulation and insider trading under Remit would have "very broad" effect across European energy market, according to lawyers