The CFTC today announced several measures to increase transparency of the energy futures markets, including trans-Atlantic trading of the flagship crude oil contracts. The measures will expand the amount and quality of information received from energy traders to further the integrity and oversight of our nations futures markets, officials of the Commodity Futures Trading Commission said in a statement, adding this will improve oversight of the energy futures markets to ensure they reflect fundamental economic forces of supply and demand, free of manipulation and fraud.
The CFTC, Britains Financial Services Authority and ICE Futures Europe, the derivatives market owned by the IntercontinentalExchange, agreed to share more information for energy contracts with U.S. delivery such as the West Texas Intermediate crude contract, the U.S. oil benchmark. The WTI trades on ICE Futures Europe, where it is cash-settled, and the New York Mercantile Exchange.
The CFTC will also require U.S. traders to provide monthly reports about their index trading and is planning to do the same with swaps dealers.