Commodities archive
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Commodity trends to watch this year
Last year was a rollercoaster for energy and commodity markets. Will markets return to business as usual in 2023 or have some been transformed in the aftermath of last year’s events? Here, we highlight key themes and events that emerged in 2022 and look at how they may play out this year.
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Viewpoint – Issues to watch in global derivatives markets
Global cleared derivative markets are made up of a wide variety of participants, from different geographies and different business disciplines. But surprisingly, many of my conversations to start 2023 have focused on a few key priorities.
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China further expands international access to its commodity markets
The Zhengzhou Commodity Exchange and Dalian Commodity Exchange have opened several key commodity futures and options contracts to overseas traders, capping off a year that has seen China take significant steps to remove barriers to international participation.
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FIA and ISDA seek clarity CFTC position limits swaps rule
FIA and ISDA filed a petition seeking clarity on the definition of swaps that will be subject to the CFTC position limits rule. Beginning January 1, 2023, the CFTC limits will apply to "economically equivalent swaps,” which is to say, swaps that have identical material contractual terms to futures and options that are subject to the federal limits. The petition asks the CFTC to exercise its authority under the rule to clarify the definition of economically equivalent swaps to allow market participants to comply with the limits and implement effective position monitoring systems and processes.
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CFTC advisory committee on agriculture holds first meeting since 2021
On 7 December, the US Commodity Futures Trading Commission held its first meeting of the Agricultural Advisory Committee (AAC) under the sponsorship of Chairman Rostin Behnam.
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FIA, ISDA and AFME publish position paper on European Commission Market Correction Mechanism Proposal
FIA, ISDA and AFME have published a position paper on the European Commission’s “Market Correction Mechanism” proposal for natural gas prices in the European Union. The associations urge policymakers to avoid imposing any price cap on the wholesale gas market.
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Commodities market participants discuss impact of geopolitics at Expo
Panelists at FIA Expo discussed the resilience of global commodity markets amid the significant disruptions of the last year. However, there is still room for the industry to improve even though markets continued to function well.
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Clearing rules for energy markets in focus at Expo
Panelists discuss EU measures to tackle energy crisis
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FIA asks FERC to limit scope of communications rule
FIA has offered comments to the US Federal Regulatory Commission (FERC) regarding a proposed rulemaking that would substantially expand the scope of communications that are subject to FERC’s enforcement authority.
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FIA makes recommendations on circuit breakers
The current energy crisis has been driving prices of natural gas to record levels, impacting households and businesses. The European Commission has reacted by tasking the European Securities and Market Authorities to review different areas of the market, including the use of circuit breakers by energy trading venues. In a letter to ESMA and the European Commission, FIA makes recommendations and emphasizes controls should not be used to cap prices.
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