CFTC Advisory Committee Reviews Position Limits Proposal, Reopens Public Comments until March 28, 2015

    View Author March, 2015

    On February 25, 2015, the Commodity Futures Trading Commission (CFTC or Commission) published a notice that it would reopen the comment period for its previously proposed rule to establish speculative position limits for 28 exempt and agricultural commodity futures and options contracts, and the physical commodity swaps that are economically equivalent to such contracts (“Position Limits Proposed Rule”). The reopening of the public comment period was set to coincide with the February 26, 2015 Commission Energy and Environmental Markets Advisory Committee (EEMAC) public meeting, chaired by CFTC Commissioner J. Christopher Giancarlo, which considered, among other matters, exemptions for bona fide hedging positions.

    This publication briefly explores the procedural history behind the Position Limits Proposed Rule and the discussion at the recent EEMAC meeting.