Energy firms hammer CFTC over position limits rule
Exemptions for bona fide hedging are too limited, companies say
Energy companies have urged the US Commodity Futures Trading Commission (CFTC) to overhaul its proposed rule on speculative position limits to ensure it does not prevent them from engaging in commercially justified hedging transactions.
At a February 26 meeting of the CFTC's Energy and Environmental Markets Advisory Committee (Eemac), industry groups complained bitterly about the proposed rule, which the commission is seeking to finalise this year. The rule would impose both spot-month and non
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