Global regulators are closing in on a package of measures to monitor and protect central clearing counterparties ahead of the G20 summit in November.

The struggle to define which non-equity instruments should be subject to MiFID transparency rules will be at the heart of efforts to finalise regulatory technical standards, and could transform the industry.

Europe’s policymakers are determined to impose position limits and reporting requirements on commodity traders to combat so-called food speculation, despite deep reservations from the industry as to their effectiveness and unintended consequences.