.jpg)
Good morning. This meeting will come to order. This is a public meeting of the Commodity Futures Trading Commission to consider issuance of a proposed rule on energy position limits and hedge exemptions on regulated futures exchanges, derivatives transaction execution facilities and electronic trading facilities. I note for the record that public notice of this meeting was given on January 7, pursuant to the provisions of the Government in the Sunshine Act. I’d like to welcome members of the public, market participants and members of the media to today’s meeting, as well as welcome those listening to the meeting on the phone or watching the live webcast.
I would like to thank the staff for all of the work that they have put into drafting today’s proposal. The staff worked countless hours on this complex subject, researching the statutory and regulatory history of position limits both in the agricultural and energy markets. They spent a lot of time reviewing how the markets for these commodities function and the economic research on it. I thank them for their thoughtful recommendation for how the Commission can best comply with its statutory obligations and to promote the fair and orderly functioning of the markets.
Click here for full details.
