CFTC Issues Proposed Position Limits Rule (Fed. Reg.)

The CFTC has published proposed rules regarding speculative position limits in the Federal Register.  The proposed rules are intended to establish position limits for 28 exempt and agricultural commodity futures and option contracts, and physical commodity swaps that are “economically equivalent” to such contracts. The CFTC also proposed to update some relevant definitions, revise exemptions for speculative position limits, and update reporting requirements. In addition, the CFTC proposed to update certain rules, guidance and acceptable practices for compliance with Designated Contract Market (“DCM”) core principle 5, and Swap Execution Facility (“SEF”) core principle 6, with respect to exchange-set speculative position limits and position accountability levels.

Comments are due by February 10, 2014.

See: 78 FR 75679.