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CFTC Dives Back into Position Limits, Reopens Comment Period

Joe Mont | December 2, 2014

The Commodity Futures Trading Commission is once again girding for battle over a controversial plan to impose position limits on futures contracts. On Dec. 3, notice will be published in the Federal Register to announce the reopening of a public comment period on the long-lingering rules.

Back in October 2012, CFTC rulemaking was poised to begin limiting speculative positions in physical commodity futures and options contracts. An effort to prevent price manipulation, the rule was intended to ensure that no single trader could obtain too large a share of the market, ensuring competitiveness in the derivatives markets. The Commission planned to start capping the maximum number of contracts that are bought and sold for 28 physical commodities, among them oil, gasoline, corn, wheat, cotton, sugar, silver, and platinum. Traders would have been required to aggregate their holdings when determining...

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