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Transcript

Hearing on Speculative Position Limits in Energy Futures Markets, July 29, 2009

The Commodity Futures Trading Commission (CFTC) announced the participants for the second of three hearings to address the current application of position limits and exemptions from position limits in energy markets. The hearing is scheduled to be held between 9:00 a.m. EDT and 1:00 p.m. EDT on Wednesday, July 29.

Panel One: Blythe Masters, JP Morgan
Dr. Henry Jarecki, Gresham Investment Management
Don Casturo, Goldman Sachs
Tyson Slocum, Public Citizen

Panel Two: John Lothian, John J. Lothian and Company, Inc.
Peter Krenkel, Natural Gas Exchange
Dennis Gartman, The Gartman Letter
Adam Felesky, BetaPro Management

The CFTC’s first hearing is scheduled for Tuesday, July 28. For details see CFTC Press Release 5681-09, July 21, 2009.

The CFTC will hold its third hearing on Wednesday, August 5.

The hearings will be open to the public and will be webcast via the internet. In addition, audio of the hearings will be available via a listen-only conference call.

What: Second Hearing on Energy Position Limits and Hedge Exemptions

Location: CFTC Headquarters, Lobby-level Hearing Room 1155 21st Street, NW, Washington, DC

Date: Wednesday, July 29, 2009

Time: 9:00 a.m. EDT – 1:00 p.m. EDT

Viewing/Listening Information:

The CFTC has made available the following options to access the meeting:

1. Watch a live broadcast of the hearing via webcast on www.cftc.gov.

2. Call in to a toll-free telephone line to connect to a live audio feed.

Call-in participants should be prepared to provide their first name, last name, and affiliation. Conference call information is listed below:

Domestic/Canada Toll-Free: (888) 691-4252

International Toll: (404) 537-3379

The conference ID: 21423572

Call leader name: CFTC

View archived webcast.

News 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

Commissioners and Panelists:

• Chairman Gary Gensler’s Opening Statement

• Chairman Gary Gensler’s PowerPoint Presentation

• Commissioner Michael V. Dunn

• Commissioner Jill Sommers

• Commissioner Bart Chilton

• Dan M. Berkovitz, General Counsel

• Laura Campbell, Assistant manager of Energy Resources, The American Public Gas Association

• Todd E. Petzel, Summary, Chief Investment Officer, Offit Capital Advisors

• Sean Cota, President, Cota & Cota, Inc.

• Craig S. Donohue, Chief Executive Office, CME

• Ben Hirst, Senior vice President and General Counsel for Delta Airlines

• Congressman Bart Stupak, Charts, U.S. House of Representatives

• Senator Bernard Sanders, U.S. Senate

• Jeffrey C. Sprecher, Chairman & Chief Executive Officer, Intercontinental Exchange

Charts:

• Current Practices in Setting Speculative Position Limits and Position Accountability Levels in Selected Futures Contract Markets

• Number of Energy Traders Over Position Accountability Levels in Selected Energy Markets

• Summary Table - Traders Over Accountability Levels (April 1, 2009 to June 30, 2009)

• Summary Table - Traders Over Accountability Levels (July 1, 2008 to June 30, 2009)

• Traders Exceeding 10 Percent or More of Open Interest in all Futures and Options Combined Reported for the Nearby Three Futures Contract Months

• NYMEX Position Limit Exemptions and Summary Information for Major Energy Markets

• Federal Position Limit Exemptions and Summary Information for Selected Agricultural Markets as of July 21, 2009

Hearings on Energy Position Limits and Hedge Exemptions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Last Updated: August 13, 2014