US Regulators Tightening Energy Tradesadmin
Federal regulators will place stricter limits on foreign exchanges that trade U.S. oil.
The Commodity Futures Trading Commission will require the London-based ICE Futures Europe exchange to adopt position limits used in the U.S. for trading West Texas Intermediary crude contracts.
Foreign officials also will share daily trading data with U.S. authorities and report violations when they are uncovered. Previously the groups shared data on a weekly basis.
Atlanta-based Intercontinental Exchange Inc., parent company of ICE Futures Europe, plans to comply with the new rules and said the CFTC action would have little effect on its customers or business.