News
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
BAML to clear US dollars for BNP commodity finance unit
BAML is to undertake US dollar clearing for BNP Paribas's commodity trade finance business, as it faces a one-year US dollar clearing ban imposed as part of a $9 billion settlement on sanctions violations
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
Low volatility boosts interest in coal derivatives
Rising activity at commodity trading houses and hedge funds is contributing to high trading volumes in coal derivatives, while some producers are also increasing their involvement in the market
Former CME Group energy head Morsches to leave
Gary Morsches, the New York-based former head of energy at CME Group, is to leave in early 2015, following the appointment of Martin Fraenkel as global head of energy
Mercuria deal was driven by economics, says JP Morgan
JP Morgan's global co-heads of commodities, John Anderson and Michael Camacho, say the bank's decision to sell its physical commodities business to Mercuria was not down to regulatory pressure
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
US airline wins Dodd-Frank real-time reporting delay
CFTC no-action letter giving Southwest Airlines and its dealers extra time to report hedging trades in long-dated oil may lead to broader relief for other hedgers in illiquid markets
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
Credit Suisse sheds top metals trader and Emea sales chief
Veteran salesman Kamal Naqvi leaves metals trading and European commodity sales roles following Swiss bank’s decision to wind down commodities business
Oil price fall spurs interest in trading, says panel
Financial traders such as banks are likely to benefit from a marked drop in oil prices and a rise in volatility, according to market participants speaking at a London conference
LNG market participants shun Japanese forwards
Non-deliverable forwards on liquefied natural gas were launched by the Japan OTC Exchange in September, but the contracts are suffering from a lack of participation and concerns over pricing
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
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…
US airlines hesitate on fuel hedges despite price drop
Fuel hedging from airlines and other consumers is picking up in the wake of a drop in oil prices, but some firms remain too concerned about the prospect of a further fall
Macquarie acquires Barclays US power trading book
Macquarie is deepening its involvement in North American energy by snapping up an electricity trading book from Barclays, which is said to include tolling agreements with power plant operators
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
JP Morgan exits power markets with Mercuria deal
Electricity firms are gloomy about JP Morgan’s departure from power markets, saying trading houses and oil majors are not providing the same level of liquidity as banks once did
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
Conference emphasises need for renewables response
Accommodating rises in renewable electricity production means looking at capacity markets and changes to EU target model, suggest participants at Energy Risk Summit Europe