Massad sees exchange role in policing CFTC position limits

Exchanges could stay in charge of granting hedge exemptions, chairman suggests

Timothy Massad, CFTC

As the US Commodity Futures Trading Commission (CFTC) moves to finalise its rule on speculative position limits, it should consider allowing futures exchanges to retain their traditional role granting bona fide hedge exemptions to commercial end-users, CFTC chairman Timothy Massad has said.

Many companies have "suggested that we rely on the exchanges with respect to the review of applications for what are known as the non-enumerated exemptions", Massad said in his opening keynote address at the

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