naked capitalism: CFTC Head Says Weight of Money May Be Distorting Commodities Prices
naked capitalism: CFTC Head Says Weight of Money May Be Distorting Commodities Prices
The CFTC has allowed energy futures and derivatives to be traded on the electronic exchanges where there is no regulation, no position limits on contracts, no Large Trader Reports from its participants, and no routine auditing of larger transactions. If that wasn’t enough, they then allowed the largest electronic energy exchange, the Intercontinental Exchange (ICE), to use its terminals to trade U.S. crude oil futures and next allowed ICE trading of U.S. gasoline and heating oil contracts.
