On May 26 the Commodities and Futures Trading Commission (CFTC) announced that it will issue for public comment a supplement to its position limits proposal. The proposal will modify the procedures for those seeking exemptions from speculative position limits for non-enumerated bona fide hedging. The supplement would provide a new process for exchanges to recognize certain positions in commodity derivative contracts as non-enumerated bona fide hedges or enumerated anticipatory bona fide hedges, as well as to exempt from federal position limits certain spread positions, in each case subject to CFTC review.
Comments on the supplemental may be submitted electronically though the CFTC’s website. If you are interested in contributing to comments on the supplemental, please contact Gary or Ryan. For more information, click here.