New steps to curb speculation in commodity markets have been launched by US regulators in response to growing pressure from Washington lawmakers.
The Commodity Futures Trading Commission, the main regulator of commodity markets, told the US Congress yesterday that it was imposing “enhanced control” on dealing by Wall Street banks and forcing them to publish new data on their positions.
The CFTC's measures will focus on swaps, which are private contracts between investment banks and clients such as hedge funds or airlines that provide an exposure to commodity prices without investing directly in futures.
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