Global Correspondence

GFMA CWG Submits Comments to the CFTC Regarding Position Limits for Derivatives

GFMA’s Commodities Working Group (GFMA CWG) submitted comments to the Commodity Futures Trading Commission (CFTC) in response to a proposed rulemaking notice regarding position limits for derivatives (Proposed Rule).

GFMA CWG urges the CFTC to avoid the anomalies and associated impacts to liquidity and the proper functioning of the market that are likely to arise as a result of the Proposed Rule’s failure to appropriately address dealers’ net risk positions taken to hedge commitments under commodity index contracts.

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