Home      Login

The CFTC (Finally) Adopts Speculative Position Limits  (Volume 54, Number 11–June 2, 2021)

Author:  Neal Kumar.

Source: Volume 54, Number 11, June 1 2021 , pp.123-134(12)

Review of Securities & Commodities Regulation


The CFTC’s new Position Limits Rule will impose speculative limits on a broader class of futures contracts, modify the exemptions from applicable limits, and, for the first time, apply limits to swaps. In this article the author discusses key aspects of the rule, including important implementation challenges that market participants may face in developing the necessary compliance infrastructure.

Keywords: Position Limits for Derivatives; Futures Referenced Contracts; Economically Equivalent Swaps; Spot Month and Non-Spot Month Position Limits; Bona Fide Hedge Exemptions; CFTC Anti-Evasion Rule 150.2

Affiliations:  1: Willkie Farr & Gallagher LLP.

Subscribers click here to open full text in PDF.
Non-subscribers click here to purchase this article. $99