July 04, 2018

IOSCO proposed the good or sound practices to assist relevant storage infrastructures and their oversight bodies to identify and address issues that could affect pricing of commodity derivatives and in turn affect market integrity and efficiency. IOSCO proposes the adoption of the good or sound practices by all relevant storage infrastructures, their oversight bodies, and financial regulators in IOSCO member jurisdictions, as appropriate to their role and activities. Comments should be submitted on or before August 29, 2018.

Instead of prohibiting certain behavior, these practices are intended to create a framework that motivates the market to adopt best practices and self-correct. The report builds on the 2016 report of IOSCO on the impact of storage and delivery infrastructure on derivatives market pricing, which identified certain commodities storage and delivery situations that have the potential to affect derivatives pricing, if not properly addressed. These practices fall into five broad areas including oversight, transparency, conflicts of interest, fees and incentives, and operations. The report published for consultation sets out various potential good or sound practices to address the issues identified in each of the five areas.

 

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Comment Due Date: August 29, 2018

Keywords: International, Securities, Commodity Derivatives, Storage Infrastructure, Good Practices, IOSCO

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