Position Limits

This submission submits the Final Rule under 17 CFR Part 150, "Aggregation of Positions." (The specifics of the final rule are described below in the second paragraph.) Section 4a(a) of the Commodity Exchange Act (Act) allows the Commission to set speculative limits in any commodity for future delivery in order to prevent excessive speculation. Market participants under the proposed rules must combine positions of owned entities for purposes of complying with speculative limits, but the proposed rules also provide for certain exemptions. The reporting and record-keeping requirements proposed would be used by the Commission generally and by Commission surveillance staff in particular to verify the aggregation of positions across multiple entities, and for general surveillance purposes. This additional data would allow the Commission to understand how market participants are applying exemptions, ensure the proper application of such exemptions, and provide the Commission with information to adjust exemptions in the future. "Aggregation of Positions," Final Rule--The Commission is issuing a final rule to amend part 150 of the Commission’s regulations with respect to the policy for aggregation under the Commission’s position limits regime for futures and option contracts on nine agricultural commodities. The Commission notes that if its proposed position limits regime for other exempt and agricultural commodity futures and options contracts and the physical commodity swaps that are economically equivalent to such contracts are finalized, these amended regulations would also apply to the position limits regime for those contracts and swaps.

The latest form for Position Limits expires 2023-03-31 and can be found here.