News
EC seeks redo of controversial Mifid II commodity provisions
European Commission demands revisions to draft Mifid II rules on ancillary exemption and position limits that had proved contentious for EU energy firms
EU position limits pose headaches for national regulators
Proposed Mifid II limits on thousands of commodity contracts worry some officials
SGX hopes to shake up LNG market with new index
Asian LNG traders voice cautious optimism about ‘Singapore Sling’ spot-market index and derivatives contracts
Hedge fund Millennium expands in energy trading
Other hires at Noble Group, JP Morgan and Mercuria
SDRs urge CFTC for more help on data harmonisation
Regulator’s swap data woes are “absolutely solvable”, SDR chiefs say at meeting of the CFTC’s Technology Advisory Committee
EU capital rules for energy traders not as bad as feared – PwC
Commodity trading firms can slash Mifid II capital charges by 40% through optimisation of derivatives portfolios and application of new Basel rules, report finds
Mifid II one-year delay not enough to solve problems, energy industry says
The anticipated one-year delay to January 2018 of implementation of the Mifid II rules still leaves energy firms little time to respond to the regime, given the number of key rules still not finalised
CFTC takes steps to clean up ‘garbage’ swaps data
Attempts to further standardise swaps in new data reporting proposals are a source of frustration for market participants
EU commodity derivatives regulation: 2016 and beyond
Market participants await key deadlines and decisions in the year ahead
Few commodity traders saw improved liquidity in 2015 – poll
Three-quarters of traders surveyed say liquidity in OTC commmodity derivatives held steady or declined last year, while 25% saw gains
CFTC de minimis report worries US energy firms
Use of “alternate indicators” for dealing activity raises alarm bells in industry
Ending Emir hedge exemption conflicts with Mifid II, firms say
EU energy firms warn Esma’s proposal to scrap the Emir hedge exemption would introduce a glaring inconsistency between Emir and Mifid II
Position limits are an idea whose time has passed – Giancarlo
Low commodity prices dent rationale for US and EU anti-speculation rules, CFTC commissioner says
Commodity traders cheer CFTC record-keeping fix
Regulator softens Dodd-Frank rule that energy and agricultural commodity traders had complained was burdensome
Stricter EU collateral rules threaten Nordic power market
Tighter EU collateral standards set to come into force in March 2016 may hurt liquidity in Nordic electricity derivatives, market participants say
Energy traders hit back at French regulator over interview
Industry group blasts AMF official’s stance on Mifid II commodities provisions, bemoans regulators for being “deaf” to industry concerns
Shell may shift trading to US or Singapore over Mifid II
Oil major Royal Dutch Shell is exploring “all possible options” for compliance with Mifid II, including migrating trading activity to countries outside the EU, a company official says
Web of EU commodity rules too complex, conference told
Mifid II, Emir, Remit and other new regimes covering EU commodity markets are not well co-ordinated, according to regulators and market participants at this year’s Emart
Asset managers push CFTC for more relief on position limits
Hedge funds, pension funds and private equity firms welcome the CFTC’s new proposals on position aggregation but urge the regulator to go further
BP mulls restructuring of trading unit over Mifid II
Oil major BP expects it will need a Mifid II licence for some trading activities, which may prompt the creation of a new entity to comply with the incoming EU rules
CFTC to finish position limits rule in 2016, Massad says
Controversial rule on commodity derivatives set to miss year-end target
Barclays adds energy trader in Singapore
UK banks bulks up commodities team in Asia with hire from Koch Industries
Mifid II commodity rules agreed at 'last minute', officials say
Provisions in Mifid II that would hit energy and commodities firms received "the least consideration and scrutiny" in the entire package, says one regulator
EU energy firms brace for Remit reporting woes
Market participants expect ‘teething problems’ as Remit trade reporting begins on October 7, while regulators offer sympathy and suggest they will go easy to enforcement