CFTC Reopens Comment Periods for Position Limits for Derivatives and for Aggregation of Positions (Fed. Reg.)

The CFTC's proposal to reopen the comment periods for the Position Limits for Derivatives Proposal and for the Aggregation Proposal was published in the Federal Register.

The CFTC reopened the comment periods for an additional three weeks to request that market participants comment on:

• hedges of a physical commodity by a commercial enterprise, including gross hedging, cross-commodity hedging, anticipatory hedging and the process for obtaining a non-enumerated exemption;
• the setting of spot-month limits in physical-delivery and cash-settled contracts and a conditional spot-month limit exemption;
• the setting of non-spot limits for wheat contracts;
• the aggregation exemption for certain ownership interests of greater than 50 percent in an owned entity; and
• aggregation based on substantially identical trading strategies.

Comments are due by July 3, 2014.

See: 79 FR 30762.Related news: CFTC Announces Three Actions to Clean up Problems with Swaps Regulations (with Lofchie Comment) (CFTC Letter 14-72) (May 22, 2014) CFTC Issues Proposed Position Limits Rule (Fed. Reg.) (December 12, 2013); CFTC Issues Proposed Position Limits Rule for Derivatives (Pre-Fed. Reg.) (with Zwirb Comment)(December 3, 2013); CFTC Publishes Proposed Rules for Aggregation of Positions (Fed. Reg. Version) (November 15, 2013) Key Differences between the Recent CFTC Position Limits Proposal and the Previously Vacated Final Position Limits Rule (with Delta Strategy Group Summary) (November 18, 2013); Cadwalader Memo on Proposed Position Limits and Aggregation Rules (with Lofchie Comment) (November 6, 2013); CFTC Approves Position Limits Proposal (with Lofchie and Zwirb Comments and Delta Strategy Group Summary) (November 5, 2013).