On February 24 2015 the US Commodity Futures Trading Commission (CFTC) reopened the comment periods for two position limit draft rulemakings for an additional 30 days, in order to accommodate questions and comments that may have arisen from the Energy and Environmental Markets Advisory Committee meeting on February 26 2015.

The original positional limits proposed rule was overturned in September 2012 based on a Washington district court judge's determination that the CFTC was unable to prove the rule was "necessary to diminish, eliminate, or prevent" excessive speculation. The comment period for the two rulemakings closed on March 28 2015.

The notice in the Federal Register is available at www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2015-03834a.pdf.

For further information on this topic please contact Donna M Parisi, Geoffrey B Goldman or Azam H Aziz at Shearman & Sterling LLP by telephone (+1 212 848 4000) or email (dparisi@shearman.com, geoffrey.goldman@shearman.com or aaziz@shearman.com). The Shearman & Sterling website can be accessed at www.shearman.com.

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