New York Mercantile Exchange has abandoned its support of Senator Dianne Feinstein's proposed legislation aimed at tightening regulation of energy markets in the US.
A year on from its enthusiastic endorsement of Feinstein's attempts to introduce new energy market regulation, exchange president Bo Collins said so much has changed in the marketplace that regulators need to hold off from bringing further restrictions to the market. December 2000's Commodity Futures Modernisation Act has brought about sweeping changes, he added.
"We need to wait because a lot has changed in the market,"...