Commodities archive
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FIA responds to FCA consultation on derivatives markets transparency
FIA welcomes the Financial Conduct Authority’s proposals regarding the revised bond and derivative transparency regime in the UK. Resilient and robust markets are of key importance to FIA members and FIA supports the consultation’s stated aim of streamlining transparency requirements so that they better reflect the nature and depth of liquidity in the market.
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FIA supports IOSCO’s good practices for voluntary carbon markets
On 1 March FIA responded to a public consultation issued by the International Organization of Securities Commissions outlining a proposed set of “good practices” to promote the integrity and orderly functioning of voluntary carbon markets (VCMs). In the response, FIA commended IOSCO for fostering a much-needed dialogue on the issues surrounding the development of VCMs.
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FIA responds to FCA commodities consultation CP23/27
FIA has submitted a response to the FCA’s commodity consultation. The FCA proposals are based on the UK’s wholesale markets review, initiated by HM Treasury in 2021. While FIA supports FCA’s goals of promoting market integrity and resilience, it is concerned about FCA’s proposed approach to the ancillary activities exemption.
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US agriculture and energy groups raise concerns about the impact of US bank capital rules on access to hedging
On 11 December a coalition of agriculture and energy trade associations formally submitted two comment letters regarding the Basel III Endgame Proposal issued by the three main US banking regulators as well as the GSIB Surcharge Proposal issued by the Federal Reserve.
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FIA joins industry call for adequate implementation time for REMIT II
FIA along with AFME, CMC Europe, EFET, Eurelectric, Eurogas, Europex, FESE, FIA EPTA, IOGP and ISDA has submitted a letter to European co-legislators urging them to delay the timing of the implementation of some of the obligations of the revised Regulation on Wholesale Energy Market Integrity and Transparency (REMIT II).
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Trade associations submit letter on Article 9 of REMIT
FIA and several other trade associations have sent a letter to trilogue parties regarding proposed changes to Art. 9 of the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT) concerning the supervision of third country firms. The associations urge legislators to adopt the least burdensome of the pending proposals, which would have third-country firms designate a representative to respond to requests for information. This contrasts with having to establish an office or move principal trading operations to the EU, which would create considerable market access barriers.
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Experts focus on traceability in commodity markets
FIA Expo panelists discuss traceability, the increase in US crude oil exports, and future trends.
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US energy producers reduce hedging to capture upside from higher prices
US oil and gas producers are reducing the amount of protection they are buying against the risk of falling prices, according to an analysis of public disclosures by Wood Mackenzie, the consulting firm.
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Commentary – Three FERC manipulation fact patterns energy traders should watch
David Applebaum, a partner at the law firm of Jones Day and the former director of the Division of Investigations at FERC, will be moderating a panel at the Commodities Forum dedicated to FERC enforcement and regulatory initiatives. MarketVoice asked David to distill some of the FERC enforcement trends that should be top-of-mind for traders and compliance departments.
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CFTC Agricultural Advisory Committee focuses on important role of FCMs
The US Commodity Futures Trading Commission's Agricultural Advisory Committee held a discussion on 19 July on improving access to futures markets for agricultural end-users as well as a presentation about Mississippi River disruptions to grain flows and markets.
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