Hearings Announced by CFTC
Public meetings will be held through August.
Compiled by staff
Published: Jul 8, 2009
Gary Gensler, Chairman of the Commodity Futures Trading Commission, has announced a series of public hearings focused on how the agency should use all of its existing authorities to accomplish its mission. Gensler wants to hear input on Speculative Position Limits and Enhanced Transparency Initiatives. The hearings will be held between now and the end of August.
The point addressed during the hearings is whether federal speculative limits should be set by the CFTC to all commodities of finite supply, in particular energy commodities, such as crude oil, heating oil, natural gas, gasoline and other energy products. This will include a careful review of the appropriateness of exemptions from these limits for various types of market participants.
At the same time Gensler announced improvements in the transparency of market data to be implemented in the near term. Specifically, enhancements to the weekly Commitments of Traders report. In addition, the Commission will continue to collect and report data from swaps dealers and index investors.
Georgia Senator Saxby Chambliss, R-Ga., Ranking Member on the Senate Agriculture Committee, supports the moves being made by Chairman Gensler. In response, Chambliss said, the information contained in the update is essential in determining market participant positions and potential influences.
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