The International Petroleum Exchange, the UK-based oil and gas futures market, has hired three legal experts to sit on its disciplinary hearings, as it adds the finishing touches to a thorough overhaul of its disciplinary procedures.

Elizabeth Appleby, Peter Gross and Andrew Moran, all Queen's Counsels (QCs), will chair hearings of the IPE's disciplinary panel, which looks at issues such as market abuse by the exchange's traders.