Commodity Futures Trading Commission (CFTC)
CFTC freezes hedge fund over derivatives 'fraud'
The US Commodity Futures Trading Commission (CFTC) has obtained a federal court freeze on the assets of a $230 million hedge fund following an investigation of the fund’s operators for fraud.
Task force formed on transatlantic derivatives trade
US and EU regulators have set up a task force to help integrate regulated derivatives markets on each side of the Atlantic.
Senators lambast CFTC for opposing OTC market regulation
US senators Dianne Feinstein (Democrat, California) and Maria Cantwell (Democrat, Washington) have attacked the US Commodity Futures Trading Commission (CFTC) for opposing their legislation that seeks to increase the regulatory oversight of the over-the…
Liquidity, not regulation, is key to avoid manipulation, says CFTC
Regulators should avoid the temptation to implement over-zealous regulation of the energy derivatives market, and instead encourage the development of liquidity, if market manipulation is to be avoided. That was the message delivered by Sharon Brown…
Nymex to clear OTC average-price options
The New York Mercantile Exchange (Nymex) has received permission from the Commodity Futures Trading Commission to clear a number of over-the-counter mid-price commodity options.
CFTC amends rules governing FCMs
Futures commission merchants (FCMs) in the US will be permitted to enter into repurchase agreements and collateral management programmes using customer-deposited securities, following a rule amendment by the Commodity Futures Trading Commission (CFTC).
Eurex US delays launch date
Eurex has delayed the intended launch of its Chicago-based futures exchange, Eurex US, to February 8. The launch is dependent on approval from the Commodity Futures Trading Commission (CFTC), scheduled to vote on Eurex’s application for "designation as a…
Industry veteran quits CFTC
Jane Kang Thorpe, director of the division of clearing and oversight of the Commodity Futures Trading Commission (CFTC), will leave the US regulator later this month. She leaves to take up a post as general counsel for the Dubai Regional Exchange (DRI).
US Senate rejects energy derivatives legislation
The US Senate yesterday voted down proposed legislation that sought to impose tighter controls over energy derivatives trading.
Schwarzenegger promises market-based energy programme
Arnold Schwarzenegger, newly elected governor of California, has vowed to use market-based approaches to address the state's ailing wholesale energy markets.
Eyeing the pricing
Natural Gas
CFTC to sue AEP over false gas trades
Ohio-based utility American Electric Power (AEP) has been charged with reporting 2,800 false natural gas trades to energy price index companies, such as Platts, and attempting to manipulate natural gas prices. The charges, levied by the US Commodity…
Ferc calls for risk manager vigilance
The director of the office of market oversight and investigations (OMOI) at theUS Federal Energy Regulatory Commission (Ferc), has urged energy risk managersto alert his office to any suspicious market practices.
CFTC moves to force Platts to divulge trade data documents
The US Commodity Futures Trading Commission (CFTC) has filed an application to enforce compliance with two document subpoenas issued to global publisher McGraw-Hill Companies, as part of its ongoing investigation of corrupt energy trading practices. The…
Enron charged with gas and broadband manipulation
The US Commodity Futures Trading Commission (CFTC) yesterday finally charged bankrupt energy trader Enron and a former company vice-president with manipulating natural gas prices. Also yesterday, federal authorities arrested on fraud charges two Enron…
Senators move to establish stronger federal oversight of energy markets
A group of US senators yesterday introduced legislation, called the Energy Market Oversight Act, that seeks to restore the Commodity Futures Trading Commission’s (CFTC) authority over online and bilateral energy trades and give the Federal Energy…
Feinstein asks CFTC to investigate gas pricing manipulation
Dianne Feinstein, the Democrat senator for California, yesterday urged the Commodity Futures Trading Commission (CFTC) to work with the Federal Energy Regulatory Commission (FERC) to investigate whether there has been manipulation of the US natural gas…
No place for government in energy price reporting or clearing, says Ferc head
Pat Wood, chairman of the US Federal Energy Commission (Ferc), has said he does not believe regulatory agencies should be involved in compiling energy price reporting. He also said the government has no place in suggesting that energy merchants should…