Editorial - Fuel for thought

One criticism that many traders have of regulators is: watchdogs do not understand the markets which they regulate. Oil traders may just be repeating that very line after CFTC amended its no-action letter to ICE Futures Europe, meaning that traders must comply to the same position limits that Nymex traders are subject to. While this might please many in Washington who have blamed the “evil” derivatives trader for the record oil prices, one must question the motives behind the...