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Improving Energy Market Regulation: Domestic and International Issues

A CGS/IIGG Working Paper

Author: Daniel P. Ahn, Adjunct Fellow for Energy

Improving Energy Market Regulation: Domestic and International Issues - improving-energy-market-regulation-domestic-and-international-issues

Publisher Council on Foreign Relations Press

Release Date February 2011

20 pages

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Overview

Highs and volatile energy prices have driven the regulation of commodity financial markets to the forefront of the U.S. and G20 policy agendas, including the upcoming 2011 G20 meeting in France. Integrated commodity markets require international policy coordination, but not all policy initiatives are equally desirable. Improving Energy Market Regulation examines a range of policy options at both the domestic and international levels. It recommends that policymakers prioritize areas that are better understood to improve market efficiency, particularly improved physical and financial transparency and centralized clearing, over stricter capital and margin requirements and position limits. Even these simpler initiatives face significant logistical and political challenges, and in many cases the United States should proceed unilaterally even as it seeks international cooperation.

More About This Publication

Daniel P. Ahn is the director of economic research at Citadel Investment Group and an adjunct assistant professor at Columbia University. He has previously worked with Lehman Brothers and Barclays Capital. He holds a PhD in economics from Harvard University.

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