The CFTC, Commodities Future and Trading Commission, has made a decision regarding position limits. In 2010, the Dodd-Frank’s Act was passed which provided general financial oversight to prevent excessive speculation in the commodity markets. Specifically, it targeted putting a limit into how many total contracts any one speculative trader, JP Morgue, etc., could control.
The CFTC has ruled to pass the rule 3 to 2!! See the live commentary as it was happening here. A more formal summary will follow.
Yea - Gensler Chilton Dunn
Nay - O'Malia Summers
For what happens next after the passage of position limits by the CFTC, see The Doc's analysis on the implications of position limits.
