The Futures Industry Association has urged the US Commodity Futures Trading Commission to withdraw its proposal to introduce position limits on US energy derivatives trading.
In a 30 page letter to David Starwick, secretary of the CFTC,
John Damgard, president of the FIA, called on the US futures
regulator to "defer any further action on its proposals until
Congress completes its deliberations this session on financial
regulatory reform legislation". That legislation may authorise
the watchdog to impose position limits.
Damgard said it was premature to press ahead without waiting
for Congress’s view.
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