CFTC To Curb Energy Futures Speculation
CFTC expects to set up limits on oil, gas and other energy futures contracts.
The Commodity Futures Trading Commission is expected to set up limits on oil, gas and other energy futures contracts, Financial Times reports. The job is currently delegated to exchanges such as the New York Mercantile Exchange.
The new rules would address the system of exemptions from existing limits that many Wall Street banks enjoy, differentiating them from so-called “bona fide hedgers” such as oil companies. Details are still being worked out and could change before public release.
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