Energy Risk
Esma releases first crop of position limits
Regulator moving away from publishing all limits in November
Ferc’s Collins defends manipulation rule
US energy market watchdog is “serious” about its surveillance role
Esma adviser says position limits to be published in Nov
Task force member warns of market “disorder” in tight window before Mifid II goes live
Energy firms expect to escape Mifid II without cutting books
Esma data suggests ancillary activity test will be easier to pass than industry feared
Falling margins force energy firms to expand data use
Verification and model challenges arise as volatility and margins dry up
Commodity swap data goes from bad to worse
Lack of regulatory guidance, collaboration and market confusion continue to plague SDR reports
Commodities firms fear EBA’s inappropriate capital charges
Energy lobbying overlooked as proposed regime threatens vigorous demands
Isda: EU position limits to snag few OTC commodity contracts
Narrow definition could exclude certain trades and lead to netting problems
Compression is your friend, energy firms told as Mifid II nears
Slashing gross notional of trades can keep firms out of reach of incoming rules
Would whoever’s left at the CFTC please turn on the light?
Lack of resources – and commissioners – becoming increasingly apparent at US regulator
People: Bowen to depart CFTC, Giancarlo sits nomination hearing
Changes at the CFTC; Evolution Markets launches US natural gas basis brokerage; CHS elects new CEO
Energy firms raise concerns over CFTC capital rules
Commercial swap dealers might not qualify for a treatment designed specifically for them
Energy firms say looming EU reporting rules too broad in scope
SFTR vagaries cause confusion over commodity-specific transactions
Finding alpha in uncertain energy markets
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Interview: Can Matthew Chamberlain rescue the LME?
London Metal Exchange CEO identifies problems, awaits contract and fee structure revamp feedback
The Dark Ages: US and EU unite in position limit vagaries
Regulators’ inactivity infuriates commodities markets
Beware the pitfalls of right- and wrong-way risk
Credit exposure can be hazardous. Misinterpreting the risks posed can be ruinous
Too little, too late: Esma data won’t fix energy firms’ Mifid woes
Data confusion and unworkable exemption timeframe risk commodity market disruption
People: Noble shuffles board in wake of Elman exit
Shell swaps trading chiefs; ex-Dreyfus head joins Cofco; Glencore adds Aberdeen’s Gilbert to board
Cloud control
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Esma to publish Mifid II commodity market data by July
Data vital to establish if firms are in Mifid II, but it will be incomplete, agency says
Asian exchanges jostle to claim LNG derivatives market
SGX and Platts hope to capitalise on physical hedgers, who remain pensive
Kaminski: discounting for energy swaps ‘a big mess’
Energy Risk USA: most energy firms still prefer Libor for discounting
Compliance chiefs call on CFTC to end position limits uncertainty
Energy Risk USA: market participants say delay in rulemaking is ‘very frustrating’