CFTC head supports some exemptions for hedgers
Commodity Futures Trading Commission head Gary Gensler said Wednesday he supports maintaining exemptions for bona fide hedgers, but he has some concern about granting exemptions for financial risk.
While I believe that we should maintain exemptions for bona fide hedgers, I am concerned that granting exemptions for financial risk management can defeat the effectiveness of position limits, said CFTC Chairman Gensler.
The CFTC is conducting a series of hearings to explore whether to set position limits in the energy markets and if it should allow some traders to exceed those limits.
(Reporting by Ayesha Rascoe; Editing by John Picinich)
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