A divided CFTC approves new commodities position limit rules
"The pursuit by industry of legitimate and appropriate risk management is now made unduly onerous," says CFTC commissioner Scott O'Malia
At a public meeting yesterday, a divided Commodity Futures Trading Commission (CFTC) approved the final rule for position limits within commodity markets by a vote of 3–2. The rule will affect those who trade futures and swaps in any of the selected 28 commodities, which will include energy and metal products, and are in addition to existing limits already in place for agriculture derivatives.
"A position limits regime in the commodity futures and swaps markets is a critical component of
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