The dominance of Nymex and ICE Futures Europe in global oil derivatives trading is unchallenged. But as Elise Coroneos reports, a satellite image of the market would show new bright spots emerging around the globe. Meanwhile, strange things are happening in US natural gas...
A new wind will start blowing in the US energy derivatives market later this year, when the Commodity Futures Trading Commission is expected to announce position limits and set a date for their implementation. But so far, no one knows how cold that wind will feel, or in what direction it will drive the market.
The Wall Street Reform and Consumer Protection Act, signed into law in July, hammered home the CFTC’s responsibility to set energy position limits, a job hitherto delegated to the exchanges. But the details of the limits are still anything but clear.
As many contacted for this article acknowledged, including...