Energy firms fight for right to hedge at portfolio level

CFTC position limits could scramble widely used approach to hedging

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A revived position limits rule from the US Commodity Futures Trading Commission (CFTC) could force energy firms to abandon the widely used practice of allowing individual business units to handle hedging for their own asset portfolios independently of the rest of the enterprise, industry groups have warned. The rule is the CFTC's bid to impose speculative position limits on commodity derivatives, which was proposed in November 2013 after a previous attempt was rejected by a federal judge. As