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EU asks CFTC to delay application of Dodd Frank extra territoriality rules

See this article on Bloomberg about the latest developments in the upcoming expiration of the Dodd Frank extra territoriality exemption.

ACER 2014 Work Programme

ACER have published their draft 2014 work programme here. The REMIT section is as expected. There is an open hearing about this in Ljubljana next week for those interested, although I would not expect there to be much REMIT talk.    

Interesting piece on the Turkish Electricity Market

The Turkish Electricity Market is in the process of deregulating. There is an interesting piece here from PwC on the latest developments

When is EMIR reporting going to start?

We have seen more than one change of date under EMIR over the last 2 weeks, including both trade reporting and clearing. On the trade reporting side, we saw the first reporting date for interest rate swaps and credit default swaps, being set as the 23rd September, rather than “earliest 1st July”. Then a couple … Continue reading

ACER Conference Slides

ACER have put up some of the slides from their conference last week here. The conference did not include REMIT, which is being included in the various “open consultation meetings” that have already been and are planned for the summer. The focus was instead on achieving a single European gas and power market.

EMIR timeline moved by 5 months | Earliest Start for Clearing now May 2014

EMIR Trade Reporting Start Delayed 3 months

The new footnote on the ESMA EMIR page may imply a further delay to The first reporting date (of IRS and CDS) , to November, which would have a knock on impact on the next dates. Let’s see how this one unfolds.

Another gas market manipulation story

The Guardian ran another story on Friday on gas price manipulation, which can be seen here. It relates to allegations that during the recent cold winter, participants held back gas in storage, rather than releasing it onto the market. Once again, it refers to alleged activity, which would not be permitted under REMIT Articles 3, … Continue reading

Paper from Global Energy Advisory on the cashflow impacts of EMR and EMIR

Global Energy Advisory have just issued their latest white paper on the cashflow impacts of EMR and EMIR on the energy industry. It can be downloaded from here. On the EMIR side, it does raise the question about how many energy companies will be over the threshold. Reports are that many are assuming that they are not, due to hedging etc. We will need to wait … Continue reading

Another Oil Index Manipulation Article

Another article from Reuters on the oil index manipulation story here. They reproduce the questions that the European Commission are asking.