It hardly makes sense for the CFTC to pursue an appeal from a federal district court decision invalidating an earlier rule on speculative position limits when it is on the cusp of enacting new rules on the subject that (hopefully) will pass muster in the courts.
Four high-ranking Republican members of the House Committee on Financial Services accused the Commodity Futures Trading Commission (CFTC) Wednesday of wasting time and money when implementing a law that would have set position limits on derivatives tied to 28 physical commodities.
What was a “shock” to oil traders was the magnitude of the distillate drawdown in last night's API. We knew that supply was tight in the Midwest as farmers are deep into the harvest — but a drop of 6.2 million barrels?
As oil prices soared to a record high in 2008, traders, politicians and regulators were stunned as oil made a move of historical portions. Now oil traders are cheering the overturning of position limit rules.
A U.S. district court today vacated a controversial Commodity Futures Trading Commission (CFTC) rule that would have set position limits on derivatives tied to 28 physical commodities, and remanded the rule to the agency.
It was Edward Walczak’s experience running Chicago-based candy manufacturer Brach’s commodity hedging operation in the late 1990s that got him deeply involved in the markets.
Written testimony of CFTC Chairman Gary Gensler before the House Committee on Agriculture in which he discusses Dodd-Frank, Libor enforcement actions and PFGBest.
