Position limits

CFTC Chairman Timothy Massad rejected a CFTC advisory panel's advice to abandon plans on position limits in oil, gold, sugar and other commodities.

Below is the text of a speech  CFTC Chairman Timothy Massad delivered to the Commodities Markets Counsel on Feb.1

 

Special report from FIA Americas on energy companies discussing the ongoing controversy over proposed position limits.
The roundtable will focus on hedges of a physical commodity by a commercial enterprise, including gross hedging, cross-commodity hedging, anticipatory hedging, and the process for obtaining a non-enumerated exemption.
In 2012, NYSE Amex Options was the first exchange to file for and receive approval to eliminate position and exercise limits for options overlying the SPDR S&P 500 ETF Trust.
European Union lawmakers clinched a deal to put the brakes on high-frequency trading and curb speculation in commodity derivatives.
The CFTC announced today that it will extend the comment period to Feb. 10 on its proposed amendment to rules on aggregation for position limits that was set to close on Jan. 14.
You would think that after six years Bart Chilton would have learned something about the Futures industry, instead he gives credence to slanted uninformed stories to appear to be a champion of the little man. Chilton is only champion of the little mind.
Today the U.S. Commodity Futures Trading Commission (CFTC) approved two Position Limits Proposals.
The top U.S. derivatives regulator will consider a reworked proposal to limit speculation blamed for price surges in energy, wheat and other commodities after Wall Street groups successfully challenged an earlier version.