The International Organisation of Securities Commisisons Commodity Derivatives Markets Supervisory Principles, which update and add to the 1997 Tokyo Communiqué, were developed in response to contemporary trends in commodity derivatives markets, including the scale, speed and cross-border nature of trading on markets, novel forms of market abuse, investors focus on commodities as an asset class and the impact of new investor classes and futures trading on physical commodity prices, the rapidly evolving regulation of OTC derivatives markets, and regulation of market participants. They address the following areas: (i) design of physical commodity derivatives contracts; (ii) surveillance of commodity derivatives markets; (iii) disorderly markets; (iv) enforcement and information sharing; and (v) enhancing price discovery and transparency.