Commodities archive
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U.S. trade policies cause pain for farmers but renew interest in agricultural derivatives
For the agricultural futures and options markets, the uncertainty caused by current U.S. trade policies is creating both the best of times and the worst of times, according to a panel of experts speaking at the FIA's annual trade show. Blu Putnam, chief economist at CME Group, noted that the overall level of trading in agricultural derivatives is generally up compared with last year. In particular, "short-dated options have just exploded," he said. These products are crucial for managing the risk of an immediate price break, he explained, when "some news comes out and prices move here to there very quickly."
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One-on-One with CFTC Commissioner Berkovitz
Dan Berkovitz joined FIA president and CEO Walt Lukken in a fireside chat at his first FIA conference since being sworn in as Commissioner of the Commodity Futures Trading Commission. In addition to learning more about Dan’s background, the Expo audience also heard the Commissioner share his thoughts on the key developments impacting regulation of derivatives markets in the U.S. and across the globe.
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FIA co-signs statement calling for extension of tax derogation for European Power, Gas and Carbon Markets
FIA and 17 other trade associations active in energy markets jointly submitted a statement highlighting an urgent need to confirm the extension of the VAT derogation for a domestic reverse charge mechanism (“DRCM”) in European electricity, gas and emission allowance markets. The option for member states to apply DRCM was introduced to combat VAT fraud in those markets and, unless extended, will expire on 31 December 2018. Before the introduction of DRCM, billions of VAT had been defrauded from European Exchequers. The associations recommend an extension of the derogation by at least five years, a confirmation that DCRM also applies to Certificates of Origin, and comprehensive application of DRCM across all EU member states to ensure market participants can maintain trust in the integrity and safety of electricity, gas and emission allowance markets.
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FIA files response to IOSCO Consultation Report on Commodity Storage and Delivery Infrastructures: Good or Sound Practices
On 29 August 2018, FIA filed jointly with GFMA, ISDA and LBMA a response to IOSCO, asking for certain clarifications regarding the scope of the Sound or Good Practices and the provided examples.
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FIA and CMC petition CFTC to amend OCR Rule
On June 14, the Futures Industry Association and the Commodity Markets Council submitted a petition asking the Commodity Futures Trading Commission to amend the Ownership and Control Reports Rule.
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Oil Futures Set For Launch
The China Securities Regulatory Commission announced on Feb. 9 that the Shanghai International Energy Exchange, which is part of the Shanghai Futures Exchange, will begin trading its much anticipated crude oil futures contract on March 26.
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EFET and FIA develop industry standard to support commodity position reporting under MiFID II
The European Federation of Energy Traders, EUROPEX, FIA and LEBA have released the common EFET-FIA ITS4 schema for position reporting under MiFID II.
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FIA Recommendations to Streamline CFTC Regulations and Enhance Market Integrity
FIA responded to the CFTC’s call for suggestions on simplifying and modernizing CFTC rules via Project KISS today.
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FIA recommendations to streamline CFTC regulations and enhance market integrity
FIA responded to the CFTC’s call for suggestions on simplifying and modernizing CFTC rules via Project KISS today.
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FIA submits response to Ofgem Secure and Promote Review Consultation Paper
On 19 September, FIA submitted a response to the Ofgem Secure and Promote Review Consultation Paper published on 25 July 2017.
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