Futures

Measure would level the playing field in energy futures markets

June 13, 2008 -- Washington, DC – In the wake of growing concerns about the impact of speculation, U.S. Senators Dianne Feinstein (D-Calif.) and Ted Stevens (R-Alaska) have introduced legislation to require the Commodity Futures Trading Commission (CFTC) to impose the same position limits on institutional investors to which other investors now are subject. This legislation would essentially level the playing field in energy futures markets.

Under current law, CFTC is required to impose speculation limits on the size of energy trader positions. However, in practice, CFTC regularly exempts institutional investors from position limits, when investors execute their trades through brokers or dealers.    » read more »

June 9, 2008 -- WASHINGTON, D.C. – With gas prices reaching an all-time high today, United States Senator Dick Durbin (D-IL) called for a dramatic increase in the resources for the Commodity Futures Trading Commission (CFTC), the federal agency charged with overseeing America’s oil markets.

“What led to the record increase in the price of oil? The truth is that no one knows. Not the CFTC. Not the Energy Information Administration, the Federal Energy Regulatory Commission, or the Federal Trade Commission. This issue is much too important to the American people to allow this to continue. Enough is enough. Let’s get to the bottom of this," Durbin said.    » read more »

First Results of March 2008 SEC-CFTC Memorandum of Understanding

Washington, D.C., June 3, 2008 — The Securities and Exchange Commission and the Commodity Futures Trading Commission (CFTC) today announced that each has approved the trading and clearing of two novel derivative products — futures and option contracts based on shares of the SPDR® Gold Trust (Gold Trust), an exchange traded fund (ETF). The SEC approved trading in options on the Gold Trust shares and the CFTC approved trading in futures on them.    » read more »