New FCA deadline for power and gas forwards ‘more realistic’, says industry

Clock close to midnight at new year

Brokers and their clients will have longer to make changes to their systems and processes relating to physically settled gas and power forwards, following a decision by the UK Financial Conduct Authority (FCA) to delay a key regulatory deadline by two months. The extra time will help clients prepare for the change and will ensure orderly gas and power markets, brokers say.

The FCA announced on November 27 that it would delay a deadline for brokers to clearly differentiate between their multilate