In response to growing cross-border regulation, the Commodity Markets Council – Europe (CMCE) was formed in 2012. CMCE is comprised of agriculture, energy, metals and other commodity market participants, price reporting agencies, and trading venues established and/or operating in the European Union (EU), the European Economic Area (EEA), Switzerland and neighbouring countries.
CMC Europe 2021 Work Plan
The CMCE looks ahead to a dynamic legislative and regulatory agenda in 2021. The CMCE’s activities will include continuing ongoing initiatives, adapting to new developments post-Brexit and post-COVID-19 as well as informing the policy debate around the regulation of global commodity markets. CMCE’s priorities for 2021 include:
- Contributing to the implementation of the ‘quick-fix’ revision of the MiFID II/MiFIR framework for commodity derivatives, and the broader upcoming review of MiFID II/MiFIR.
- The forthcoming review of the EU Benchmarks Regulation.
- Adapting to a post-Brexit commodity trading landscape and contributing to the development of the UK’s emerging regulatory framework for commodity derivative markets.
- Responding to the ramifications of the COVID-19 pandemic.
- Contributing to a possible review of the EU market abuse regime.
- Implementation of the reporting, clearing and collateral requirements for OTC derivatives.
- Implementation of the SFTR reporting requirements.
- Feeding into the policy process and raising awareness of essential role that commodity derivative markets play in the global economy.