The world over reeled back from the impact that the global recession of 2008-2009 had. As a matter of fact, the world’s leading economies are still recovering slowly even five years later. The impact of this global recession was a massive realization that the structure of trading was poorly designed. This is because there was little in the way of regulation and oversight of some of the most significant segments on which the market traded. One of the segments that are now under intense scrutiny and oversight is the energy trading market.

The increased oversight caused by the changing nature of the regulations that govern this market has created an urgent need for specific expertise to provide consulting services. The new form of energy consulting services is a bit changed from what has been the norm for all these years. Here is what the new regulation in the name of the Dodd-Frank Act has changed in the way the energy markets consultancy services are provided.

Energy consultancy needs a very special type of expert

Energy consultancy is an area for deep domain expertise. This is a highly specialized level of expertise that is the result of years of training and experience in the target field. This expert must also have an intricate understanding of the new regulations that govern the field of energy trading. As a result, the new experts who provide consultancy services in this field have a distinct name by which they are called. The expert is called a Dodd Frank Consultant. This signifies his rich experience in the field of energy trading and the fact that he has also studied and understood the impact of the Dodd Frank Act on energy trading.

Energy consultancy services are needed to create a compliance mechanism

Compliance in energy trading sector is no longer a onetime thing. It is something that firms that operate in this market segment will have to create mechanisms to ensure that they can replicate in a consistent and cost effective manner. Some of the regulations that must be complied with have different dates set by which these firms must comply. Firms who trade in the energy segment must, therefore, seek the services of consultants to ensure that they are able to create the necessary systems internally. Furthermore, consultancy services are the most cost effective way of creating these compliance systems internally. This is because consultants have a much better view of the pertinent issues.