The US Commodity Futures Trading Commission (CFTC) is nearing completion of a new set of amendments to its controversial proposed rule on speculative position limits in commodity derivatives, sources say.
The amendments – which will come in the form of a 'supplemental proposed rule' rather than a complete overhaul of the rule – are said to focus on the bona fide hedging exemptions available to end-users that use futures and swaps to manage their commodity price risk. In particular, the amendment
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