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
Esma denies need for new competitiveness mandate
MEP wants explicit requirement; Esma official says it’s already covered in existing rulebook
US regulators cut FRTB’s IMA capital hit by 59%, Isda finds
Trade body pushes for further changes to cross-product netting, default risk charge
US FRTB glitch could spit out negative capital charges
Effort to recognise risk diversification between IMA and standardised approach went too far
Euronext, LCH back Esma as exchange super-regulator
National oversight hurts Europe, exchange officials say – but some are not ready to accept a single watchdog
Double, but no trouble? CVA capital hit may lack clout
Industry opinion mixed around Basel III endgame derivatives charge
Amid debanking drama, banks try to say ‘no’, safely
A basic risk management tool – the ability to turn a customer away – has become a political football
Erba myth: will US banks choose new capital measure?
B3E gives US banks a dilemma – adopt expanded risk-based approach, or a new standardised alternative
Illiquid assets pricing still needs expert judgement, say banks
EU regulators want more transparency in valuations, but some asset prices remain elusive
