CFTC getting their bona fides

摘要

Last year, it was Congress that was blaming speculators for increased volatility in the markets, and now, the Commodity Futures Trading Commission (CFTC) is shining the spotlight on speculators and asking the question, who is a "bona fide" hedger. In late July and early August, the CFTC held hearings to address the current application of and exemptions from position limits in energy markets.rnWhile the panels purportedly were to collect information, there was little doubt that the Commission had reached some conclusions and the industry had already seen the writing on the wall.