Giancarlo also called for a phasing in of position limits starting with the spot month
Christopher Giancarlo of the Commodity Futures Trading
Commission (CFTC) has backed proposals to give exchanges the
power to grant exemptions under the federal position limits
CFTC’s Energy and Environmental Markets Advisory
Committee (EEMAC), on Wednesday, Giancarlo – a vocal critic of the position limits
regime – said allowing exchanges to approve
non-enumerated hedging exemptions, if "handled properly", had
"the potential to make the current proposal more
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