EEX head seeks equal treatment of forward and futures contracts

Oil

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The chairman of the Leipzig-based European Energy Exchange (EEX) says the EuropeanUnion’s (EU) Investment Services Directive (ISD) should treat physicalforward and financial future commodity contracts equally. Speaking at the World Forum on Energy Regulation in Rome in October, Menzel saidit was unfair for the EU to exclude off-exchange financial future contracts fromthe ISD. The EU initiated the directive in 1993, and member states have gradually adoptedit as a means of guaranteeing capital