On 19 March 2026, the International Organization of Securities Commissions (IOSCO) issued a consultation report inviting comments on proposed good practices intended to support the implementation of IOSCO’s Principles for the Regulation and Supervision of Commodity Derivatives Markets (the Principles). Specifically, the consultation report is focussing on strengthening Principles 12 (authority to obtain information), 15 (intervention powers in the market) and 16 (unexpected disruptions in the market) in the context of related over-the-counter (OTC) markets.
Background
Previously, IOSCO issued a targeted review of the Principles which culminated in a final report which was published in November 2024. The review found that regulators and exchanges were broadly broad complying with the Principles but identified persistent challenges in obtaining and aggregating OTC data, monitoring large positions, and intervening effectively during periods of market disruption. As such IOSCO has now initiated the development of good practices to strengthen market authorities’ monitoring and intervention mechanisms, with a primary focus on improving access to OTC position data.
Proposed good practices
The proposed good practices in the consultation report aim to:
- Strengthen the implementation of Principles 12, 15, and 16 in relation to the collection and aggregation of OTC derivatives data, including beneficial ownership, to support effective surveillance, alongside enhanced information-sharing and cooperation between exchanges and regulators, and among regulators, particularly in times of stress.
- Set expectations about the timely regulatory intervention to prevent or address disorderly market conditions, particularly where risks in OTC markets may spill over into exchange-traded markets, supported by transparent intervention policies and improved information flows.
- Promote proportionate, risk-based, and market specific approaches to OTC data collection and intervention powers.
Next steps
The deadline for comments on the consultation report is 19 June 2026.
Feedback to the consultation report will inform a final report which will provide guidance to support the effective implementation of the Principles and strengthen the integrity and stability of global commodity markets.