Position limits are an idea whose time has passed – Giancarlo

Low commodity prices dent rationale for US and EU anti-speculation rules, CFTC commissioner says

j-christopher-giancarlo
Chris Giancarlo: "Money flowing out" of energy sector

Proposed US and European Union regulations aimed at reining in excessive speculation in commodity derivatives are anachronistic in the current environment of plunging commodity prices, says Chris Giancarlo, the sole Republican on the US Commodity Futures Trading Commission (CFTC).

"Imposing position limits now, whether it's under European rules or US rules, seems to me so out of time," Giancarlo tells Risk.net. "It's almost as if regulators are still proceeding with something when the whole worl