CFTC Preps Vote On Derivative Swaps Position Limits

Law360, New York (January 7, 2011, 5:35 PM EST) -- The U.S. Commodity Futures Trading Commission is preparing to release a draft proposal of new rules placing position limits on derivative swaps to curb excessive speculation in commodity markets.

CFTC commissioners will vote Jan. 13 on the draft proposal, the agency announced Thursday, part of its massive rulemaking push mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

The Dodd-Frank bill requires CFTC to finalized new position limits for traders in agricultural, energy and metals markets by mid-January. However, the commission acknowledged...
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