Reporting requirements to hit US traders on London market
Regulators in the US have proposed an amendment to the country's Commodity Exchange Act in response to New York Mercantile Exchange (Nymex)'s complaints about the status of Intercontinental Exchange (ICE).
The New York exchange had said that ICE's listing of US-delivered oil contracts on its London subsidiary, ICE Futures, put Nymex at a disadvantage as US traders have not been subject to the regulatory oversight of Commodity Futures Trading Commission (CFTC) when transacting on an overseas market.
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