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Amended commodities reform bill clears House FS panel

10/26/2009
By Nick Snow
The US House Financial Services Committee approved a bill on Oct. 15 that would regulate over-the-counter trades in commodity markets for some—but not all—participants. Energy producers and consumers using commodity hedges to control prices apparently would be exempt.The exemption was part of a manager's amendment offered by the committee's chairman, Barney Frank (D-Mass.), which clarifies that the bill's marginal requirements would allow use of noncash collateral for commodity hedges. Independent producers have said that this is essential so they can continue using their reserves instead of cash. Airlines and other commercial fuel customers also support an exemption.The admin...
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