On August 16th, the CFTC's Division of Market Oversight provided guidance regarding the meaning of "unfilled anticipated requirements" for purposes of bona fide hedging under the CFTC's position limit rules. The Division concludes that unfilled anticipated requirements may be recognized as the basis of a bona fide hedging position or transaction under CFTC Regulation 151.5(a)(2)(ii)(C) when a commercial enterprise has entered into long-term, unfixed price-supply or requirements contracts. CFTC Letter No. 12-07.