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Preparing for the UK’s new commodity derivatives regime

Traders, brokers and clerks shout and gesture during trading at the London Metal Exchange (LME).
London Metal Exchange trading floor. Photo: Leon Neal/Getty Images

Next steps for firms, including preparing to take advantage of the new exemptions and submitting required applications to relevant trading venues.

On February 5, 2025, the UK FCA published a Policy Statement (PS25/1) setting out new rules for trading commodity derivatives, affecting all UK market participants, regardless of their location. The FCA first consulted on the proposals in December 2023 (CP23/27), following commitments made by the UK Government to reform the regime

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