Traders debate position limits at CFTC hearings

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At three subsequent public hearings held at the end of July and the beginning of August, Commissioners listened to testimonials from a range of commercial and non-commercial industry players, as well as trade bodies and consumer groups.

From the outset, Gary Gensler, CFTC chairman, emphasised the importance of using position limits to prevent a concentration of positions by any single trading entity. Exchanges currently set such limits but are not required by statute to do this. At the first

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