CFTC's Berkovitz puts his weight behind position limits

New rule on speculative commodity trades will be proposed within weeks

Dan Berkovitz, Commodity Futures Trading Commission

Dan Berkovitz, a Democratic member of the US Commodity Futures Trading Commission, has voiced his backing for a new rule on speculative position limits, which the agency is expected to consider before the end of June.

“Although we do not yet have a proposal in front of us, I can tell you that I strongly support meaningful position limits to prevent excessive speculation in commodity markets,” Berkovitz said at the Energy Risk USA conference in Houston on May 14.

CFTC chairman Chris Giancarlo

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