On July 21, the Commodity Futures Trading Commission (CFTC) announced that it will hold three hearings to discuss the application of, and exemptions from, position limits in the energy markets. The CFTC is seeking input from various industry participants and academics on issues such as the consistent application of position limits across all markets and participants (including index traders, managers of exchange-traded funds, and issuers of exchange-traded notes), and the advisability of permitting exemptions from position limits for anyone other than bona fide hedgers for the conduct and management of a commercial enterprise. The hearings are scheduled for July 28, July 29 and August 5 (9:00 a.m.–1:00 p.m. EDT). They will be open to the public and, in addition, will be accessible via webcast and teleconference. The CFTC also indicated its intent to review other commodities of finite supply in future hearings.  

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