Hardback
EU Supervision of Energy Derivative Trading
This timely book provides a detailed analysis of the regulatory landscape of energy derivatives trading in the EU. Liebrich Hiemstra argues that current supervision of the sector is too opaque and identifies how more effective legal remedies can be created to safeguard important legal values.
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Critical Acclaim
Contributors
Contents
More Information
This timely book provides a detailed analysis of the regulatory landscape of energy derivatives trading in the EU. Liebrich Hiemstra argues that current supervision of the sector is too opaque and identifies how more effective legal remedies can be created to safeguard important legal values.
Analysing the intersection of the energy and financial sectors, this book references key judgments from the EU Court of Justice to examine the interactions between energy derivatives supervisory bodies and market participants active in energy trading. Hiemstra explores the tension between energy derivatives trading as a cross-border activity, and a legislative framework for the sector characterised by national supervision and enforcement. The book outlines how this leads to ineffective supervision, particularly in the area of information sharing, with market participants obliged to disclose business-sensitive information. It gives practical recommendations to advance legislation and regulation in the field and protect the field from increasing energy sector volatility.
EU Supervision of Energy Derivative Trading will be essential reading for scholars of energy law, financial law, and EU supervision and practitioners in this field. It will also be an invaluable resource for supervisory agencies looking to improve regulatory frameworks.
Analysing the intersection of the energy and financial sectors, this book references key judgments from the EU Court of Justice to examine the interactions between energy derivatives supervisory bodies and market participants active in energy trading. Hiemstra explores the tension between energy derivatives trading as a cross-border activity, and a legislative framework for the sector characterised by national supervision and enforcement. The book outlines how this leads to ineffective supervision, particularly in the area of information sharing, with market participants obliged to disclose business-sensitive information. It gives practical recommendations to advance legislation and regulation in the field and protect the field from increasing energy sector volatility.
EU Supervision of Energy Derivative Trading will be essential reading for scholars of energy law, financial law, and EU supervision and practitioners in this field. It will also be an invaluable resource for supervisory agencies looking to improve regulatory frameworks.
Critical Acclaim
‘This book provides a very valuable contribution to the literature on good governance relating to the supervision of derivatives trading in the energy sector. The relevant European principles and rules are carefully discussed and analysed within the very complicated multilateral and multi stakeholder context of this field of EU regulation. The book provides clear recommendations and suggestions for enhancing the regulation and supervision of energy derivatives trading and the enforcement activities of ACER and the cooperation with the national authorities. The book is invaluable for those who are working in practice and in academia on the financial aspects of the energy market.’
– Saskia Lavrijssen, Tilburg University, the Netherlands
– Saskia Lavrijssen, Tilburg University, the Netherlands
Contributors
Contents
Contents: 1. EU supervision of Energy Derivative Trading: an introduction 2. Energy derivatives and their playing field 3. REMIT: the regulatory paradigm 4. Effectiveness of fragmented supervision and information sharing 5. Information sharing in light of legality and judicial protection 6. Professional secrecy of supervisory authorities: no longer sacred? 7. Energy Derivative Trading: conclusions and recommendations. References Index
