Bloomberg – The U.S. Commodity Futures Trading Commission may increase risk of manipulation and volatility in markets for oil, gas and other commodities unless new speculation limits apply similar treatment to physical-settled and cash-settled derivatives, Senator Maria Cantwell said.
Cantwell, a Washington Democrat who supports so-called position limits, made the comment in an Oct. 14 letter to CFTC Chairman Gary Gensler, whose agency is scheduled to vote on Dodd-Frank Act rules to impose the restrictions at a meeting in Washington tomorrow.
In a January proposal, the CFTC supported conditional position limits that would allow larger positions in cash derivatives markets. Chicago-based CME Group Inc. (CME), the world’s biggest futures exchange, objected to the plan’s different treatment of the physical-delivered derivatives market, which it dominates, and the cash-settled market primarily controlled by Atlanta-based IntercontinentalExchange Inc. (ICE)
As one of the most beautiful states in the union–and one of the richest in natural resources–Washington has a special interest in energy and environmental policy. And Maria has fought hard to uphold the state’s conservation tradition, while also working to bring our energy policy into the 21st century.
Maria knows Washington’s business community – because, as an executive at an innovative software company, she was part of it. And as a Senator, she’s led the way in helping businesses large and small throughout Washington grow, thrive, and create jobs.
Maria has taken a leadership role on safety and security issues, including defending our borders, strengthening our military, cracking down on gangs, and taking on drug crime in Washington communities
Middle-class families around Washington and across the country are facing tough times–and tough decisions about balancing the family checkbook each month. Maria has fought to strengthen the economic security of Washington families and cut taxes for middle-class families.
