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Energy Connections

An easing of the financial burden, perhaps

Energy traders, generally, have been arguing their case for why they should not be regulated under the second markets in financial instruments directive (MiFID II) for some time now. What has been given less attention is some of the consequences of other, related legislation. For example, a firm supervised under MiFID II will instantly have […]

ACER looks to form group on energy derivatives

EU regulators agency ACER is looking for people to form an ad-hoc expert group on energy commodity derivatives. This is hardly surprising given how difficult defining energy derivatives has become, and the even harder part of understanding which EU legislation an energy derivative or physical forward falls under. The group will advise the agency on […]

Negotiation set to shape key energy regulation

The next few weeks and carrying through July are likely to result in some important regulations for the energy industry being shaped, although we are unlikely to see the final versions emerge until the autumn. The much-discussed topic of what is a power and gas forward that must be physically delivered rumbles on. The European […]

ESMA makes interesting point on physical forwards

A contact has pointed out an interesting line in the guidelines published on physical power and gas forwards for dealing with current EU financial regulation. The European Markets and Securities Authority (ESMA) has tried to clear up what is a derivative and what is a physical forward under the first version of the Markets in […]

FCA fines Merrill Lynch International £13m for failing to report trades

The UK’s Financial Conduct Authority has fined Merrill Lynch International for incorrectly reporting  35,034,810 transactions, and failing to report another 121,387 from November 2007 to November 2014. The US bank was required to report the trades under the Markets if Financial Instruments Directive – MiFID. The fine gives some interesting insight into the world many energy […]

FCA sets out MiFID implementation timetable

The UK’s Financial Conduct Authority (FCA) will publish its proposed handbook changes to implement MiFID II in December 2015, according to a timetable it recently published. The FCA plays an important role among financial regulators in Europe on the development of the EU financial regulation. And given many brokers and traders are registered in London, […]

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