Several traders and a futures commission merchant settled charges for separate trade practice violations.
News & Insights
76 FR 41048 July 13, 2011 The final rulemaking adopts a definition of the term agricultural commodity, CFTC Rule 1.3(zz), which is necessary for, among other things, the Commission's agricultural swaps rulemaking and the Commission's agricultural commodity speculative position limit rule. The proposed definition includes four categories: 1) The enumerated commodities listed in section 1a of the Act, including such things as wheat, cotton, corn, the soybean complex, livestock, etc.; 2) A general operational definition that covers: "All other commodities that are, or once were, or are derived
The CFTC requested comments on the reproposed position limits rules, which would place limits on speculative futures and swaps positions.
CFTC Commissioner J. Christopher Giancarlo addressed the issue of the steep drop in commodity prices and the regulatory burdens affecting market participants.
The CFTC penalized a company and its affiliated futures commission merchant for inaccurately reporting fixed price cash positions in corn and soybeans.