The United States is poised tomorrow to push through the toughest measures yet to curtail speculation in commodity markets, likely shifting the focus of a fierce four-year debate from the regulators to the courts, Reuters reports.
In a measure decried by Wall Street and trading companies as a misguided political attempt to cap soaring oil and grain prices, the Commodity Futures Trading Commission is set to vote in favor of "position limits" that will cap the number of futures, swaps and options contracts any trader can hold.
If the rule maintains several of the key measures from a draft seen last month by Reuters, there will be some cause for relief in the industry. Tough limits on whether separately controlled accounts must be aggregated and whether swaps and futures positions can be offset were relaxed in that draft.
Read more at http://www.reuters.com/article/2011/10/18/us-financial-regulation-commodities-cftc-idUSTRE79H0P720111018