IPE and Tocom strike MOU while Japan brokers cut fees

10 Nov 2003

International Petroleum Exchange (IPE), and Tokyo Commodity Exchange (Tocom) have signed a memorandum of understanding (MOU) with a view to having the other exchange's contracts traded electronically on their respective trading platforms. The exchanges will undertake to seek regulatory approvals for this objective and will also cooperate on new business opportunities.

The two exchanges are...

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“At our current funding level, the Commission is under serious strain. We lack the staff and resources necessary to both implement Dodd-Frank and continue to fulfil our pre-Dodd-Frank duties under the Commodity Exchange Act. Without additional funding, the strain will only become worse in July, when much of Dodd-Frank goes into effect.”

The CFTC's Michael Dunn pleads for Congressional support over the regulator's budget.