Pittsburgh Markets

When the economic recovery has not yet taken shape, it already begins to worry about the continuity in the rise in commodity prices, especially of energy commodities, since they could lead to a situation similar to the that occurred in 2008. The speculative component in these quotes puts at risk the growth of the economy and can even generate situations of stagflation. It is for this reason that increasingly more voices to orders of regulation of the derivatives markets are added to limit speculative component, thus contain the rise in commodity prices quotes generating greater predictability in them. The main concerns are fixed in energy commodity prices for its direct impact on production costs. In relation to this topic, in the United States, Gary Gensler, Chairman of Commodity Futures Trading Comission (CFTC) said on Wednesday of last week: I think that we should consider seriously to set limits on the (speculative) positions in the energy futures markets.

For Gensler, not only must regulate the positions in the energy futures markets but also in all those commodities of finite supply. The regulator of futures on commodities trading wants to limit the number of contracts investors can accumulate to avoid what is called excessive speculation. In this sense, the main debate is how these limits, a topic that will be key to the business of big banks and investment tools. Brazil Meanwhile, which seeks to play a role of greater relevance in the international context, announced that it will present before the G-20 in the meeting which will take place in London in early September (preparatory to the meeting at the end of that month in) Pittsburgh, Pennsylvania), a proposal to regulate the global derivatives markets. Among the measures to be implemented, Brazil will ask first, that all operations in the futures market are registered. Also looks for boost the establishment of centres of clearing and settlement, similar to that already exist in countries such as Brazil and which oblige the investor to deposit a guarantee to cover its operations with derivatives.