Legislators 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
A document obtained by FO Week indicated that the
US government has developed plans to act on Nymex's grievance,
proposing that traders be forced to keep records and report
large positions in energy contracts held on non-US markets.
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