CFTC to regulate ICE natural gas contract as SPDC
The Commodity Futures Trading Commission (CFTC) has imposed new regulatory and reporting requirements on a natural gas contract traded on the IntercontinentalExchange.
The Henry Financial LD1 Fixed Price Contract performs a significant price discovery function, according to the CFTC. The Farm Bill, passed in May 2008, gave the CFTC authority to place regulatory and reporting requirements on contracts that it believes serve a significant price discovery function. This is the first time it has exercised this authority.
The CFTC announced a review of the contract in June, saying it seemed to satisfy some of the criteria for a significant price discovery
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