Argus Responses Argus responses to consultations on energy market regulation. USA Federal Trade Commission (FTC) Market Manipulation Rulemaking – May 2009 Argus responds to the FTC proposals aiming to ensure that bona fide reporting to price reporting agencies is not hindered by stricter standards on fraud detection. European Commission (DG MARKT) Call for Evidence on the Market Abuse Directive (MAD) – May 2009 Argus responds to issues related to the physical energy markets and the interaction between physical energy markets and energy derivatives. European Commission (DG MARKT) consultation on OTC Derivatives – September 2009 Argus responds to issues related to the interaction between physical energy markets and energy derivatives and seeks to encourage the commission to treat commodity derivatives as a special case. UK House of Lords call for evidence on OTC Derivatives– January 2010 Argus re-iterates its key arguments and concerns regarding regulation of OTC derivatives markets and suggests options for increasing the robustness of energy derivatives. UK OFGEM consultation on liquidity in GB electricity markets – April 2010 Argus presents its view of the best approaches to increasing liquidity in the electricity markets in mainland UK. European Commission (DG MARKT) consultation on derivatives and market infrastructures – July 2010 Argus responds specifically to proposals that concern the role of Argus as a specialist data provider for the physical energy market. European Commission (DG Energy) consultation on European power and gas markets– July 2010 Argus outlines to the commission the high level of transparency that already exists in the European power and gas markets and suggests appropriate approaches for achieving increased transparency. IOSCO/CPSS consultative report: Committee on Payment and Settlement Systems, Technical Committee of the International Organization of Securities Commissions, Principles for financial market infrastructures - March 2011 Argus responds to public consultation on principles for financial market infrastructures European Commission (DG Markt) consulation on the Markets in Financial Instruments Directive (MiFID) - February 2011 Argus reminds the commission that price reporting agencies provide efficient and effective post-trade price transparency to over-the-counter energy markets. UK DECC consultation on electricity market reform - March 2011 Argus responds to public consultation on aspects of the UK's proposed new arrangements for its electricity market. Are transactional indexes appropriate for European gas and electricity markets- May 2011 Price benchmarks for physical OTC gas and electricity Problems with transactional indexes Problems with endorsing a single methodology USA Office of Natural Resources Revenue (ONRR) Federal Oil and Gas Valuation Rulemaking - 26 July 2011 Argus commented on how well index prices represent the value for oil and gas produced in different areas of the country, the use of index pricing to determine production value for oil and gas royalty purposes and whether the use of index pricing should be expanded or altered. USA Office of Natural Resources Revenue (ONRR) on Federal and Indian Coal Valuation Ruelmaking - 26 July 2011 Argus responds regarding new methodologies to establish the royalty value of coal produced on Federal and Indian leases and providing greater simplicity, certainty, clarity and consistency in production valuation for mineral lessees and mineral revenue recipients. MAS consultation on OTC derivatives — March 2012 Argus responds to a consultation by the Monetary Authority of Singapore (MAS) on proposed regulation of OTC derivatives. EMSA consultation on OTC derivatives — March 2012 Argus responds to a European Securities and Markets Authority (EMSA) consultation on draft technical standards for the regulation of OTC derivatives, CCPs and trade repositories. Argus response to IOSCO consultation on the functioning and oversight of oil price reporting agencies — March 2012 Appendix 1 Appendices 2-5 Appendix 6 Appendix 7