Nymex calls for full ICE regulation
James Newsome, Nymex president, told the Permanent Subcommittee on Investigations today that markets such as ICE "should be subject to the full regulation of the CFTC" in a testimony given at a hearing examining the collapse of hedge fund Amaranth and the over-the-counter (OTC) energy marketplace in which it took place.
The Levin-Coleman report is the result of a nine month investigation into the collapse of the hedge fund after it lost $6.6 billion in natural gas trades in 2006. It calls for
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