FOA Response to OFGEM Call for evidence – Pricing benchmarks in gas and electricity markets

This Response is submitted on behalf of the Futures and Options Association. In general terms, the FOA supports the use of codes of conduct for price reporting agencies and for dataproviders on the basis that they could be developed by the industry, and modified and improved by OFGEM and, once adopted, be the subject of regulatory monitoring to ensure compliance. Clearing, any such codes should accord with the IOSCO Principles and meet the need for differentiation and proportionality.