Chairman Gensler and Commissioner Barnier had a meeting to discuss a range of issues concerning the oversight of commodity markets and the regulation of over-the-counter (OTC) derivatives. They reaffirmed their commitment to strong regulation and enhanced transparency of the commodity markets. They also expressed general support for the IOSCO task force and commodity future markets and related efforts in the G20, which are working to improve the regulatory oversight and transparency of futures and physical commodity markets. They discussed position concentration in commodity markets and the role that position played in the oversight of commodity futures and swaps markets. They also discussed potential reforms to MiFID and the Market Abuse Directive so as to assist in the overall efforts to reform commodity oversight in Euro. They also noted the importance for regulators to take into account technological interventions in the markets and considered the effects of high frequency trading.