Exchanges disagree over position limits plan
The CME Group has pre-empted long-awaited action from the Commodity Futures Trading Commission (CFTC) to implement position limits for energy trading, publishing its own suggestions for a regime.
It has recommended hard, single-exchange position limits should apply to energy products listed on regulated exchanges in a paper published on September 16, 2009. Proposed limits would include single-month and all months combined and would be imposed in addition to existing hard position limits already in effect for the last three trading days of expiry months.
Craig Donohue, chief executive officer of the CME Group, said its regime was designed to avoid any “unintended consequences” that might
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