UK: LIFFE to issue CFTC-style reports on softs futures
Published: 09/08/2010, 12:05:49 PM
NYSE LIFFE will issue reports on positions in cocoa, coffee and sugar contracts traded in London in a format similar to those already produced for US markets by the Commodity Futures Trading Commission, according to Bloomberg.
Exchange members will need to report all client positions above 100 lots in all delivery months on a daily basis, the bourse said in a notice Tuesday.
LIFFE said it will aggregate client positions and share the information with regulators. A trial period, during which no reports will be published, starts Sept. 28.
The new reporting was adopted "in response to widespread market demand," NYSE LIFFE said. "This publication is intended to be similar in approach to the disaggregated, short-format Commitments of Traders Report, which is published to the market in the US"
A group of 16 cocoa consumers wrote to the exchange on July 2 to complain about a lack of transparency, warning that they may transfer trading to ICE Futures US, according to a copy of the letter obtained by Bloomberg News. The consumers and NYSE LIFFE officials met July 27 in London, and the bourse said it would talk to more clients before deciding whether to amend its rules.