The Commodity Futures Trading Commission will hold a roundtable next month to discuss its controversial efforts to establish position limits for physical commodity derivatives. It will also reopen the public comment process for three weeks, starting on June 12.
The roundtable, on June 19, from 9:30 a.m. to 3:30 p.m., 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. Topics discussed will include the setting of spot month limits in physical-delivery and cash-settled contracts, a conditional spot-month limit exemption, aggregation of positions based on ownership interests of greater than 50 percent of an owned entity, and aggregation based on substantially identical trading strategies.
