Final US position limits rule will take ‘at least a year’

CFTC expected to draft a narrow list of contracts in scope

CFTC: participants recently criticised ‘inaction’ on a final rule from an understaffed commission

Both newly confirmed commissioners at the US Commodity Futures Trading Commission (CFTC) have promised to finalise position limits for commodity exposures – but even with the agency almost at full strength for the first time since 2014, the rule will take at least a year to complete, say regulatory advisers.

The Senate confirmed commissioners Democrat Russ Behnam and Republican Brian Quintenz on August 3. During their confirmation hearing on July 27, both men committed to completing the rule,