The European Commission proposed on Wednesday stricter rules on the EU commodity derivatives markets, after the spike in prices led to liquidity issues at some energy companies using the derivatives markets to hedge future sales. The European Market Infrastructure Regulation (EMIR), which regulates derivatives transactions, needs to be enhanced, the Commission said in the proposal. “Recent developments in energy markets, with several energy companies facing liquidity issues when using derivatives markets, have also illustrated that EMIR needs to be enhanced so that the risks to the EU’s financial stability continue ... (full story)