Agricultural futures markets need global regulation because price swings are damaging producers and consumers, French President Nicolas Sarkozy said, a week before G-20 ministers meet to discuss global food supply.
Every business day in London, five banks meet to set the price of gold in a ritual that dates back to 1919. Now, dealers and economists say knowledge gleaned on those calls could give some traders an unfair advantage when buying and selling the precious metal.
The Dec. 19 auction of power futures used to set prices for 16 million Spanish consumers lacked “competitive pressure,” the nation’s regulator said, vowing further investigation into the voided sale and its participants.
Financial Technologies (India) Ltd., the founder of the Multi Commodity Exchange of India Ltd., was asked to cut its holding in the bourse after the regulator said it was unfit to own a controlling stake.