CFTC sets dates for position limits hearings

The Commodity Futures Trading Commission (CFTC) will hold the first of three open hearings to discuss energy position limits and hedge exemptions on July 28, 2009.

The hearings, first announced last week, will examine the case for imposing federal position limits on energy products. Currently the CFTC imposes limits on certain agriculture products, but position limits for energy products are set by exchanges.

CFTC chairman Gary Gensler said that, although the Commission will initially focus on energy, future hearings will look at other commodities of finite supply as well.

He continued: "Our hearings, beginning next week, will be critical as we look into

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