CFTC chairman vows to 'get it right' on position limits

Chairman reassures farmers upset about proposed hedge exemptions


The US Commodity Futures Trading Commission (CFTC) is working hard to ensure its controversial new rule on speculative position limits will not impair commercial firms' ability to use derivatives to manage risk, says CFTC chairman Timothy Massad.

Massad's comments came at the conclusion of a December 9 meeting of the CFTC Agricultural Advisory Committee, in which US farmers and ranchers pleaded with the commission to adopt a broader set of bona fide hedging exemptions to its proposed position li

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