The CFTC today said it is creating an advisory committee to discuss trading in energy markets and its supervisory role over those markets. The committee will be led by Walter Lukken, acting chairman of the Commodity Futures Trading Commission, and will include representatives from a cross-section of the industry with knowledge of the energy markets, including exchanges, producers, market users and consumers.
The CFTC in October told Congress of the need for a committee focused on energy markets following the 2006 $6 billion trading debacle of Amaranth Advisors LLC, which was partly attributed to the lack of close oversight of the over-the-counter energy market.
