Search for the definition you are looking for.
Speculative position limits
A limit on the size a single trader’s position for a particular commodity. Positions that qualify as bona fide hedges do not fall within the position limits. Position limits can be for a single-month position (a spot month) or for an all-months-combine position. Dodd-Frank proposed the introduction of mandatory position limits. Following a legal challenge these have been suspended. The Markets in Financial Instruments Directive II (MIFID II) is also expected to introduce mandatory position limits.
* see also Dodd-Frank; Markets in Financial Instruments Directive II (MIFID II)