Recap of CMC policy call from Tuesday, July 12

CMC members gathered for our weekly policy call yesterday afternoon. We covered a range of topics including:

  • Debt ceiling negotiations in Congress
  • Ethanol debate in Congress
  • CMC’s comment letters to the CFTC and Prudential Regulators on margin requirements
  • CFTC’s final rule on manipulative trading
  • CMC’s work on the bona-fide hedging definition

Members’ frustration over the bona fide hedge definition underscores the real risks at stake in the CFTC rulemaking process. CMC is working constructively with the CFTC by suggesting alternative language for the Commission’s consideration before the Commission releases its final rule on position limits (which includes bona fide hedging).


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