CFTC Proposes Cap On Energy Speculation

Law360, New York (January 14, 2010, 7:54 PM EST) -- A new U.S. Commodity Futures Trading Commission proposal would impose hard cap position limits to curb energy speculation in markets for crude oil, gasoline, heating oil and natural gas.

The CFTC met Thursday to consider issuing a proposed rule on energy position limits and hedge exemptions on regulated futures exchanges, derivatives transaction execution facilities and electronic trading facilities.

CFTC staff recommended that the commission approve a notice of proposed rulemaking to set federal speculative position limits for futures and options contracts in certain referenced energy commodities....
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