Data doesn't support CFTC on position limits, Giancarlo says
Commissioner sees no rationale for effort to curb speculation under Dodd-Frank
There is no good rationale for the US Commodity Futures Trading Commission (CFTC) to impose a new federal position limits regime aimed at curbing excessive speculation in commodity derivatives, CFTC commissioner Chris Giancarlo told Energy Risk Summit USA in Houston on May 13.
"In the case of position limits, there is an entire absence of any data-based, quantitative foundation for the proposed regulations," Giancarlo said. "This absence cannot be ignored. It draws into question the entire
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