CME restricts energy futures spec to suggest to object by ICE

Written by funds Net Sunday, 17 May 2009 18:56 -

This Zhou San, derive the group of Chicago commerce exchange that tastes the market as global number one (CME Group) published publicly the name is " the sources of energy is derived taste the market excessive speculation and cash limitation " white paper. Among them from agreeable of futures of severe limitation energy each specific proposal, draw on CME to be derived in the sources of energy in morrow however taste the market to go up the most driving adversary namely intercontinental bourse (object strongly of ICE) . Trade as American commodity futures committee (Gary Gensler of CFTC) new preside is the sturdiest the CME of the allied forces, offer in afore-mentioned white paper CFTC tastes the market to sufferring the sources of energy that its superintend to derive (include " DCM " the market reachs what enjoying exempt protection " ECM " the market, OTC market) establish all sorts of " rigid " (Hard) holds a storehouse to restrict, and cash limitation should involve all trading month and rather than is only month of complete a business transaction, in order to avoid all sorts of crossing the market, those who cross region " superintend a benefit " behavior. If CME is CFTC design, every investor supports money market of some contract of futures of crude oil of some month WTI in each market gross limitation is 40 thousand hand, among them the money market of futures of WTI crude oil of the NYMEX below hold CME banner must not exceed 20 thousand hand, and 5000 hand must not exceed in the futures of WTI crude oil of ICE hold, place of admeasure of cent of remaining sum criterion is held drop outside ETF, field period the money market of futures of WTI crude oil that waits for correspondence. But afore-mentioned white paper bring about yesterday immediately of ICE refute. The statement that ICE publishs publicly says, cash is restricted do not answer by CME exceed one's duties and meddle in others' affairs, and should be designed by CFTC, and the choice space that the specific proposal in CME white paper meets contractible client only, the desire of stimulative market competition that the CFTC new preside that also superintends reform with the view accordingly initiates nots agree with.

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