CFTC withdraws ags exemptions
The Commodity Futures Trading Commission (CFTC) withdrew two no-action letters today that provided relief from federal agricultural speculative positions limits laid out in CFTC regulations.
"I believe that position limits should be consistently applied and vigorously enforced," CFTC Chairman Gary Gensler said. "Position limits promote market integrity by guarding against concentrated positions."
On May 5, 2006, the agency's Division of Market Oversight (DMO) granted no-action relief to DB Commodity Services, a commodity pool operator (CPO) and commodity trading advisor (CTA), permitting the DB Commodity Index Tracking Master Fund to take positions in corn and wheat futures that
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