SIFMA submits further comments on aggregation of positions

CFTC 230
By Beth Shah
05 Aug 2014

The Securities Industry and Financial Markets Association’s Asset Management Group has submitted additional comments to regulators surrounding the aggregation of positions pertaining to agricultural commodity futures and option contracts, as well as physical commodity swaps, in a bid to make the proposed rules less arbitrary and more workable for investment managers.

In a letter to the U.S. Commodity Futures Trading Commission, the AMG reiterated concerns expressed in an initial comment letter earlier this year. The group noted that aggregation based on ownership rather than control is neither required nor authorized by the Commodities Exchange Act, and recommends that the ...

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