EU closer to deal on commodity speculation
The so-called Market in Financial Instruments directive (MiFiD) will regulate financial markets across the EU, limiting financial positions in commodity derivatives, in a bid to prevent market distortions and abuse. Speculation in commodity markets has been blamed for volatility in important global crop prices, and a knock-on effect on food prices.
The rules have been in preparation since 2011, but there were more than 1,500 amendments from MEPs.
