Exchange reform rides on Farm Bill

摘要

Energy exchanges in the US could face a sweeping review of their activities this year if the existing version of the Farm Bill before Congress passes intact. The bill puts contracts that serve a significant price discovery function under reporting, monitoring and publishing requirements established by US commodity markets regulator the CFTC. But an amendment to the bill leaves exchanges some leeway in determining which contracts meet the price discovery standard. The CFTC would have to issue a draft rule on price discovery standards within 180 days of the bill's passage and a final rule within 270 days.