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Agriculture and rural development

Expert group on agricultural commodity derivatives and spot markets

The expert group is a consultative entity whose tasks are to provide advice and expertise to the Commission services.

Overview

In 2012 the European Commission's department for agriculture and rural development set up an expert group on agricultural commodity derivatives and spot markets. The members of the expert group represent EU countries and European associations of various agricultural sectors.

The expert group is a consultative entity whose tasks are to provide advice and expertise to the Commission services concerning:

  • the functioning of the agricultural commodity derivatives and spot markets;
  • the implementing of existing EU legislation and policies;
  • the preparation of legislative proposals and policy initiatives in this field.

2018

Twelth meeting

Agenda – 18 April 2018
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MiFID II and agricultural products
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Contractual price arrangements and futures markets – Jean Cordier – Agro Campus Quest
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2017

Eleventh meeting

Agenda – 20 September 2017
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MiFID II – state of play
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MiFID II – implementation aspects
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German dairy futures – quality of price signals and hedging effectiveness
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New regulations: impact on the futures markets
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Tenth meeting

Agenda – 15 March 2017
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EMIR review
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MiFID II – position limits on commodity derivatives
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Update on MiFID II
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New market transparency initiatives in DG AGRI
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Dairy future markets
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2016

Special meeting

Agenda – 9 November 2016
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Why a financial reform?
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Overview of the new EU legal framework
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MiFID II/MiFIR implementation (level 2)
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MiFID II – position limits on commodity derivatives
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Role of clearing houses and financial service providers
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Role of physical markets
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Challenges on MiFID II implementation
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Ninth meeting

Agenda – 13 April 2016
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The functioning of the futures markets
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Unintended consequences of C6 definition in MiFID II
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Information on Agricultural Markets Task Force
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2015

Eighth meeting

Agenda – 15 October 2015
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MiFID II – ESMA’s draft RTS on commodity derivatives
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Basic trading with the corresponding exchange of futures for physicals
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Seventh meeting

Agenda – 28 January 2015
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Proposal for a regulation on benchmarks
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ESMA’s MiFID II
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Contracts between farmers, cooperatives and the food-chain and MiFID II
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2014

Sixth meeting

Agenda – 10 July 2014
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Financial markets regulatory reform in the EU: State of play
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ESMA’s MiFID II consultation and discussion papers: commodity derivatives
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Fifth meeting

Agenda – 14 February 2014
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Financial markets regulatory reform in the EU: State of play (MiFiD)
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Market Transparency – The U.S. experience
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ESMA’s work on EU financial regulation on commodity derivatives
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IOSCO principles for the regulation and supervision of commodity derivatives markets
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Commercial market participants' view of financial regulatory reform
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2013

Fourth meeting

Agenda – 3 October 2013
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Financial markets regulatory reform in the EU: State of play (MiFID, MAD, EMIR)
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ESMA’s work on EU financial regulation on commodity derivatives
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EU sugar producers and financial markets regulation
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EU sugar traders and financial markets regulation
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Cooperative initiative by pig farmers – Smart hedging in the pig industry
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The role of a potential European Agricultural Market Authority – suggested guidelines
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Assessing the impact of speculators on agricultural prices – Presentation
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Assessing the impact of speculators on agricultural prices – Study
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Third meeting

Agenda – 18 June 2013
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Financial markets regulatory reform in the EU: State of play (MiFID, MAD, EMIR)
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ESMA’s work on EU financial regulation on commodity derivatives
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The importance of futures and options for the grain and oilseed supply chain and concerns arising from the financial markets reform.

Trading sector
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Farmers
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Agri-cooperatives
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Durum wheat market and hedging implications
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Role and importance of financial instruments for the economic viability of the EU livestock chain: the perspective of the EU feed industry
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Derivatives in the European Dairy Sector: The challenge is not regulation
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Second meeting

Agenda – 7 March 2013
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Regulatory reform of EU commodity derivatives markets
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Financialisation of the agricultural commodity markets – the role of legislation
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The impact of financialisation on commodity prices
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Price convergence in agricultural commodity markets
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Transparency in agricultural commodity markets – the Dodd-Frank Act
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2012

First meeting

Agenda – 18 December 2012
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Financial markets regulatory reform in the EU: State of play (MiFID, MAD, EMIR)
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Price volatility: drivers and implications
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The functioning of the futures markets: challenges and opportunities
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Speculation and recent agricultural price spikes
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Research on agricultural futures markets from the perspective of a member state
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