CFTC’s Giancarlo backs phased approach to position limits

Agency should wait before implementing non-spot-month limits, commissioner says

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Chris Giancarlo, CFTC

The US Commodity Futures Trading Commission (CFTC) should split its proposed rule on speculative position limits into two parts, tackling spot-month limits first and saving non-spot-month limits for later, according to commissioner Chris Giancarlo.

"Proceeding in a phased approach would give all market participants the opportunity to adjust to the new process of tracking and reporting commodity swaps along with their futures and options," he said in his opening statement for a July 29 meeting of