Execs Push CFTC To Reject Metals Trading Limits

Law360, New York (March 25, 2010, 5:06 PM EDT) -- Financial executives from exchanges and investment banks urged U.S. futures regulators Thursday to stay away from draconian limits on precious metals speculation, arguing the limits would only harm global economic growth and drive traders into unregulated markets.

The U.S. Commodity Futures Trading Commission heard testimony from a variety of market participants Thursday, as part of its effort to determine whether limits on trading amounts are needed to curb speculation in metals futures markets.

Kevin Norrish, managing director of commodities research at Barclays Capital, said in testimony...
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