CFTC chief pushes for position limits

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CFTC chief pushes for position limits
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) - The top commodities regulator, Gary Gensler, on Friday said that he supports bringing limits on trading in the commodities market in place as Congress intended, a regulation that seeks to curb excessive speculation and potential manipulation in oil and other energy markets. A divided Commodity Futures Trading Commission in October approved rules limiting the number of commodity contracts that any investor can hold in agriculture, energy or metals contracts. However, the CFTC has not been able to implement the position limit rules until it finishes regulations defining "swaps" in the energy space and collecting data on the industry. The CFTC recently delayed a meeting to consider defining swaps dealers.