New York Mercantile Exchange Increases Copper Position Limits And Accountability Levels

The New York Mercantile Exchange, Inc., has increased the position accountability levels and positions limits on its copper futures contracts with certain provisions.

The spot month position limit has been increased to 5,000 contracts from 2,500 contracts, with the provision that the limit would return to 2,500 contracts if the market goes into backwardation for three consecutive business days or copper stocks in the registered warehouses are reduced to 250,000 pounds (10,000 contract equivalents).

The accountability level for any single month or all months has been increased to 10,000 contracts from 6,000 contracts.