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CFTC to hold hearings on energy speculation and hedging

27 July 2009  |  1137 views  |  0

CFTC to Hold Three Open Hearings to Discuss Energy Position Limits and Hedge Exemptions

First Hearing Scheduled for July 28, 2009 Washington DC – The Commodity Futures Trading Commission (CFTC) today announced that it will hold three hearings to address the current application of position limits and exemptions from position limits in energy markets. The hearings are scheduled to be held between 9:00 a.m. EDT and 1:00 p.m. EDT on Tuesday, July 28, Wednesday, July 29, and Wednesday, August 5, 2009. The first hearing will consist of testimony by Congressman Bart Stupak; CFTC staff presentations and two witness panels:

Panel One:

Jeff Sprecher, Intercontinental Exchange and Terry Duffy, Chicago Mercantile Exchange

Panel Two:

Todd Petzel, Futures Industry Association; Ben Hirst, Delta Airlines; Laura Campbell, American Public Gas Association; and Sean Cota, Petroleum Marketers Association of America

“The CFTC is directed by statute and provided with broad authorities to ensure the fair, open and efficient functioning of futures markets,” CFTC Chairman Gary Gensler said. “While the CFTC currently sets and ensures adherence to federal position limits for certain agriculture products, the agency does not do the same for energy markets. Our hearings, beginning next week, will be critical as we look into different approaches to regulate energy markets. I look forward to hearing from our panelists as we consider applying position limits to energy markets.


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CFTC to hold hearings on energy speculation and hedging

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