Commodity PRAs want exemptions from benchmark rules

06/4/2013 | Reuters

Commodity price reporting agencies, such as Platts, Argus Media and ICIS, are requesting that they be exempt from rules designed to prevent manipulating benchmarks. "International oil markets have different characteristics to interest rate markets. Several provisions in the financial benchmarks principles ... are inappropriate to the environments in which we operate," ICIS said in a letter to the International Organization of Securities Commissions, which had asked for comments.

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