News Room
Hearings on Energy Position Limits and Hedge Exemptions
On July 28, July 29 and August 5, the Commodity Futures Trading Commission held hearings on whether federal position limits should be set on the energy markets. The hearings provided critical input from a wide range of industry participants and academics to the Commission’s efforts to examine different approaches to regulate energy markets.
The Commodity Exchange Act states that the Commission shall impose limits on trading and positions as necessary to eliminate, diminish or prevent the undue burdens on interstate commerce that may result from excessive speculation. The CFTC’s hearings examined the role of position limits in energy markets in fulfilling the CFTC’s mission to ensure the fair, open and efficient functioning of futures markets.
The following links highlight the dialogue and written testimony that was provided by participants in the hearings.
Press Releases
• CFTC Announces Participants for Second Hearing to Discuss Energy Position Limits and Hedge Exemptions; Second Hearing Scheduled for July 29, 2009, July 27, 2009
• CFTC to Hold Three Open Hearings to Discuss Energy Position Limits and Hedge Exemptions, July 21, 2009
• Statement by Chairman Gary Gensler on Speculative Position Limits and Enhanced Transparency Initiatives, CFTC Statement
Webcasts (3)
• Hearing on Speculative Position Limits in Energy Futures Markets, To Discuss Energy Position Limits and Hedge Exemptions, August 5, 2009
• Hearing on Speculative Position Limits in Energy Futures Markets, To Discuss Energy Position Limits and Hedge Exemptions, July 29, 2009
• Hearing on Speculative Position Limits in Energy Futures Markets, To Discuss Energy Position Limits and Hedge Exemptions, July 28, 2009
Hearing (1) – July 28, 2009
• Statement by Chairman Gensler
• PowerPoint Presentation by Chairman Gary Gensler
• Statements and Testimony of Commissioners and Panelists
• Charts
Hearing (2) – July 29, 2009
Hearing (3) – August 5, 2009