Iosco group to turn spotlight on commodity markets
The US Commodity Futures Trading Commission and the UK Financial Services Authority are to lead a new international regulators' group overseeing the commodity markets.
A meeting of the technical committee of the International Organisation of Securities Commissions (Iosco) in Madrid last month raised the possibility that commodities regulators were becoming unable to cope with the rapidly-evolving commodities market. The new Task Force on Commodity Markets (TFCM) will be led by the CFTC and the FSA, and will include other regulators from both developed and emerging markets, Iosco said.
Recent record commodity prices had "underscored" the need for competent oversight of the pricing process, CFTC chairman Walter Lukken told the US House of Representatives last month. He also raised the possibility that the growth in swap dealer and index trader activity in the commodity markets, or the growth in electronic markets, were affecting commodity prices.
A CFTC staff report released alongside Lukken's testimony called for tighter oversight of swap dealers and more data collection on their trades.
And the FSA, in a paper released in March 2007, warned that growing trading volumes could stress trading platforms and risk measurement systems.
See also:
Vision on
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@risk.net
More on Regulation
Clearing houses warn Esma margin rules will stifle innovation
Changes in model confidence levels could still trip supervisory threshold even after relaxation in final RTS
BlackRock, Citadel Securities, Nasdaq mull tokenised equities’ impact on regulations
An SEC panel recently debated the ramifications of a future with tokenised equities
CCPs trade blows over EU’s new open access push
Cboe Clear wants more interoperability; Euronext says ‘not with us’
Who is Selig? CFTC pick is smart and social, but some say too green
Colleagues praise crypto smarts and collegial style, but views on prediction markets and funding trouble Senate
EU single portal faces battle to unify cyber incident reporting
Digital omnibus package accused of lacking ambition to truly streamline notification requirements
Basel Committee members ‘buying time’ before fixing FRTB mess
Despite inconsistencies today, regulators maintain they want to align global regime eventually
How Basel III endgame will reshape banks’ business mix
B3E will affect portfolio focus and client strategy, says capital risk strategist
Derivatives industry blasts EU reporting framework
Complaints about duplicate and ambiguous trade reporting requirements aired at Esma’s Data Day
