Transcript

CFTC's Energy and Environmental Markets Advisory Committee to Meet on May 7

Commissioner Dan Berkovitz, the sponsor of the Commodity Futures Trading Commission’s Energy and Environmental Markets Advisory Committee (EEMAC), today announced that the EEMAC will hold a public meeting on Thursday, May 7, 2020 to hear remarks on the Commission’s Position Limits for Derivatives proposed rule, as approved on January 30, 2020. The meeting will begin at 10:00 a.m. (EDT) and be held via conference call in accordance with the agency’s implementation of social distancing due to the COVID-19 (coronavirus) pandemic.

Specifically, the EEMAC will examine: (1) the proposed position limits for spot months, single month, and all-months-combined, and (2) the proposed bona fide hedge exemptions from such position limits and related procedures.

“It’s imperative that the Commission implement a position limits regime that includes both limits on speculative positions to prevent excessive speculation and exemptions for bona fide hedging activities to enable producers, end-users, merchants, and others to use the futures and swaps markets to manage their commercial risks,”  said Commissioner Berkovitz. “The EEMAC meeting will provide an opportunity for our energy and environmental markets participants to share their feedback on the Commission’s recent position limits proposal.”

Members of the public may listen to a live, audio-only feed via conference call using toll or toll-free numbers provided below. Persons requiring special accommodations to listen to the meeting because of disabilities should notify Abigail Knauff, the EEMAC Secretary, at (202) 418-5123.

Viewing/Listening Instructions: To access the live audio feed, use the dial-in numbers below. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting, if any, will be made available on the Commission’s website.