The amount of commodities trades being conducted on organised venues has more than doubled over the last two years, according to recent research, in a further sign that efforts to bring greater transparency to financial markets are paying off.

The amount of exchange-traded commodity deals increased by 123% from 2007 to 2009, according to research published yesterday by US consultancy Celent, while the amount of privately negotiated, or over-the-counter, contracts fell by almost two-thirds over the same period.