WITH CONTRIBUTION FROM:

This report is based on discussions during the CEPS-ECMI Task Force meetings on price formation in commodities markets, which were held on six occasions across 2011 and 2012. Disclaimer. The findings of this Final Report do not necessarily reflect the views of all the members of the Task Force, or the views of their respective companies. Members contributed to the Task Force meetings and provided input to the discussions through presentations and relevant material for this Final Report. A set of principles has guided the drafting process to allow all of the interests represented in the Task Force to be heard and to comment on each chapter of the Final Report. Wherever fundamental disagreements arose, the rapporteurs have made sure that all views have been explained in a clear and fair manner. The Final Report was independently drafted by the author who is solely responsible for its content and any errors. Neither the Task Force members nor thei