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EEX head calls for equal treatment of physical forwards

Hans-Bern Menzel, chairman of Leipzig-based European Energy Exchange (EEX), today called for the equal treatment of physical forward and financial future commodity contracts under the EU Investment Services Directive (ISD).

    • Paul Lyon
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Speaking at the World Forum on Energy Regulation in Rome this morning, Menzel said it was unfair for the European Union (EU) to exclude off-exchange financial future contracts from the ISD. The ISD was initiated by the EU in 1993 and has been gradually adopted by member states as a means of guaranteeing capital adequacy for investment firms, but the treatment of commodity derivatives under the directive is still a controversial issue.

Menzel said the EU should either exclude physical forwards

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