WASHINGTON, Nov 16 (Reuters) - The U.S. futures regulator
said on Monday it will allow an additional 15-day comment
period on whether 11 electricity contracts on the
IntercontinentalExchange should be regulated as significant
price discovery contracts.
The Commodity Futures Trading Commission said there was
substantial interest in the question and it had received
informal requests for more time to submit comments. The
original 15-day comment period ended on Oct. 21.
A 2008 law allows CFTC to determine if contracts on exempt
commercial markets perform significant price discovery
functions. If CFTC decides they do, a broader array of
reporting and recordkeeping rules come into force. The
contracts also would be subject to CFTC position limits.
"To ensure that an adequate opportunity is provided for
submission of meaningful comments, the commission has
determined to reopen the comment periods for an additional 15
days from the date of publication in the Federal Register of
the notices of the reopening of the comment periods," said the
CFTC in a statement.
Involved in the new comment period are ICE (ICE.N)
contracts:
--SP-15 Financial Day-Ahead LMP Peak Contract
--SP-15 Financial Day-Ahead LMP Peak Daily Contract
--SP-15 Financial Day-Ahead LMP Off-Peak Daily Contract
--SP-15 Financial Swap Real Time LMP-Peak Daily Contract
--SP-15 Financial Day-Ahead LMP Off-Peak Contract
--NP-15 Financial Day-Ahead LMP Peak Daily Contract
--NP-15 Financial Day-Ahead LMP Off-Peak Daily Contract
--Mid-C Financial Peak Contract
--Mid-C Financial Peak Daily Contract
--Mid-C Financial Off-Peak Contract
--Mid-C Financial Off-Peak Daily Contract
For more coverage on CFTC taking aim at commodities
speculation, please see [ID:nCFTCREG]
(Reporting by Charles Abbott; Editing by Lisa Shumaker)
