Back to the Future; Commodity Markets  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8751 (Sep. 2011), page 71-72.
Topik: Economic Policy; Commodities Trading; Commodities Regulations; Futures Market; International

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.68 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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In a speech to European policymakers in June Nicolas Sarkozy, the French president, encouraged his audience to be serious about "fighting the mafia". He was not referring to a French Tony Soprano, but rather that other breed of criminal: commodity speculators, whom many politicians on either side of the Atlantic blame for dramatically pushing up the price of oil and food and contributing to volatility. America is leading the charge. As part of a new financial-reform law, the Commodities Futures Trading Commission (CFTC) is proposing "position limits" on the amount of derivative contracts, including futures and swaps, a trader can hold for 28 commodities. No one will be allowed to control more than 25% of deliverable US supply for these commodities, which include oil, corn and gold, unless they are hedging for "bona fide" commercial purposes. CFTC commissioners could vote on the new rules as soon as September 22nd. Egged on by the likes of Mr Sarkozy, the European Commission is likely to issue a draft of similar rules in October. Arguments about whether to establish position limits are incendiary.

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