The Commodity Futures Trading Commission today waved the white flag and voluntarily dismissed its appeal of a court ruling that put commodity trading limits in limbo. Instead, the CFTC will craft a new version of the rule.
The decision preempts oral arguments that were scheduled to begin in November. A public meeting of commissioners to consider new proposals on position limits was scheduled for Nov. 5 prior to the decision to drop the appeal. It remains on the schedule.
