Proposals to regulate energy derivatives in the US could affect ETFs trading directly in the futures market, pushing some providers to use swaps. Helen Fowler reports
When the US Commodity Futures Trading Commission (CFTC) announced last month proposals to curtail positions in the energy markets, many people in the ETF community breathed a sigh of relief. “These proposals are much better than the worst fears in the ETF world a few months ago that they would be driven from the commodities market,” said Kenneth Raisler, former general counsel at the CFTC and lawyer at New York-based firm Sullivan & Cromwell, which advises a number of ETF providers. The CFTC currently sets position limits in some agricultural commodities, and has done so for ma...
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