(Updates with 2009/10 single-month limits, 2001/02 limits, standardizes
format)
Jan 14 (Reuters) - The top U.S. futures market regulator on Thursday proposed sweeping rules to limit the influence of big traders in energy markets.
Below are the proposed Commodity Futures Trading Commission limits for crude oil, gasoline, heating oil and natural gas. The limits would affect the following contracts on the New York Mercantile Exchange (NYMEX), which is run by CME Group Inc: crude oil, RBOB gasoline, heating oil and natural gas. The limits would also affect similar contracts traded on the ICE Futures U.S. exchange operated by the IntercontinentalExchange Inc.
For full text: http://link.reuters.com/ham63h
For more stories on CFTC proposals:
2009/10 Contract Class AMC Single-month
Limit Limit ======================================================== Crude oil Physical delivery 98,100 65,400
Cash settled 98,100 65,400
Aggregate Limit 98,100 65,400 Gasoline Physical delivery 9,000 6,000
Cash settled 8,800 5,900
Aggregate Limit 9,000 6,000 Heating oil Physical delivery 10,100 6,800
Cash settled 10,100 6,800
Aggregate limit 10,100 6,800 Natural gas Physical delivery 132,700 88,500
Cash settled 132,700 88,500
ICE Cash Settled 132,700 88,500
Aggregate limit 132,700 88,500
2010/11 Contract Class AMC Single-month
Limit Limit ======================================================== Crude oil Physical delivery 98,200 N/A
Cash settled 98,200 N/A
Aggregate Limit 98,200 N/A Gasoline Physical delivery 8,900 N/A
Cash settled 8,900 N/A
Aggregate Limit 8,900 N/A Heating oil Physical delivery 13,100 N/A
Cash settled 13,100 N/A
Aggregate limit 13,100 N/A Natural gas Physical delivery 117,300 N/A
Cash settled 117,300 N/A
ICE Cash Settled 117,300 N/A
Aggregate limit 117,300 N/A
AMC limits Contract Class 2001/02 2002/03 2003/04 2004/05 2005/06 ============================================================================== Crude oil Physical 17,800 17,400 21,500 22,500 28,700
Cash 7,900 8,300 10,800
Aggregate 17,800 17,400 21,500 22,500 28,700 Gasoline Physical 5,000 5,200 5,100 5,000 6,000
Cash
Aggregate* 4,600 5,200 5,100 4,700 6,000 Heating oil Physical 6,400 6,000 6,200 5,900 7,300
Cash 5,000 5,000
Aggregate 6,400 6,000 6,200 5,900 7,300 Natural gas Physical 14,700 17,100 23,100 19,900 22,900
Cash 8,500 19,900 22,900
ICE Cash**
Aggregate 14,700 17,100 23,100 19,900 22,900
Contract Class 2006/07 2007/08 2008/09 ========================================================= Crude oil Physical 36,700 50,100 74,700
Cash 14,000 50,100 74,700
Aggregate 36,700 50,100 74,700 Gasoline Physical 6,300 6,000 7,500
Cash 5,000 5,000
Aggregate* 6,300 6,000 7,500 Heating oil Physical 7,400 7,500 8,700
Cash 5,000 5,000 8,700
Aggregate 7,400 7,500 8,700 Natural gas Physical 40,200 76,500 121,000
Cash 40,200 76,500 121,000
ICE Cash** 121,000
Aggregate 40,200 76,500 121,000
Years begin in March and end in April. N/A = not available
* The aggregate level is less than the class level for 2001/02 and again in 2004/2005 because the proposed regulation does not provide a de minimus level for the aggregate. Historically, there was a low level of aggregate open interest in this referenced energy contract
** ICE began reporting open interest to the CFTC on October 2007 SOURCE: Statement of Steve Sherrod, active director of the CFTC's Surveillance Division of Market Oversight
(Reporting by Tom Doggett; Editing by Lisa Shumaker) (Production Editors, Commodities and Energy, Americas; New York +1 646 223 6050/6040; Chicago +1 312 408 8720) Keywords: REGULATION CFTC/TABLE (For help: Click 'Contact Us' in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com; +1 646-223-5546) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Jan 14 (Reuters) - The top U.S. futures market regulator on Thursday proposed sweeping rules to limit the influence of big traders in energy markets.
Below are the proposed Commodity Futures Trading Commission limits for crude oil, gasoline, heating oil and natural gas. The limits would affect the following contracts on the New York Mercantile Exchange (NYMEX), which is run by CME Group Inc: crude oil, RBOB gasoline, heating oil and natural gas. The limits would also affect similar contracts traded on the ICE Futures U.S. exchange operated by the IntercontinentalExchange Inc.
For full text: http://link.reuters.com/ham63h
For more stories on CFTC proposals:
2009/10 Contract Class AMC Single-month
Limit Limit ======================================================== Crude oil Physical delivery 98,100 65,400
Cash settled 98,100 65,400
Aggregate Limit 98,100 65,400 Gasoline Physical delivery 9,000 6,000
Cash settled 8,800 5,900
Aggregate Limit 9,000 6,000 Heating oil Physical delivery 10,100 6,800
Cash settled 10,100 6,800
Aggregate limit 10,100 6,800 Natural gas Physical delivery 132,700 88,500
Cash settled 132,700 88,500
ICE Cash Settled 132,700 88,500
Aggregate limit 132,700 88,500
2010/11 Contract Class AMC Single-month
Limit Limit ======================================================== Crude oil Physical delivery 98,200 N/A
Cash settled 98,200 N/A
Aggregate Limit 98,200 N/A Gasoline Physical delivery 8,900 N/A
Cash settled 8,900 N/A
Aggregate Limit 8,900 N/A Heating oil Physical delivery 13,100 N/A
Cash settled 13,100 N/A
Aggregate limit 13,100 N/A Natural gas Physical delivery 117,300 N/A
Cash settled 117,300 N/A
ICE Cash Settled 117,300 N/A
Aggregate limit 117,300 N/A
AMC limits Contract Class 2001/02 2002/03 2003/04 2004/05 2005/06 ============================================================================== Crude oil Physical 17,800 17,400 21,500 22,500 28,700
Cash 7,900 8,300 10,800
Aggregate 17,800 17,400 21,500 22,500 28,700 Gasoline Physical 5,000 5,200 5,100 5,000 6,000
Cash
Aggregate* 4,600 5,200 5,100 4,700 6,000 Heating oil Physical 6,400 6,000 6,200 5,900 7,300
Cash 5,000 5,000
Aggregate 6,400 6,000 6,200 5,900 7,300 Natural gas Physical 14,700 17,100 23,100 19,900 22,900
Cash 8,500 19,900 22,900
ICE Cash**
Aggregate 14,700 17,100 23,100 19,900 22,900
Contract Class 2006/07 2007/08 2008/09 ========================================================= Crude oil Physical 36,700 50,100 74,700
Cash 14,000 50,100 74,700
Aggregate 36,700 50,100 74,700 Gasoline Physical 6,300 6,000 7,500
Cash 5,000 5,000
Aggregate* 6,300 6,000 7,500 Heating oil Physical 7,400 7,500 8,700
Cash 5,000 5,000 8,700
Aggregate 7,400 7,500 8,700 Natural gas Physical 40,200 76,500 121,000
Cash 40,200 76,500 121,000
ICE Cash** 121,000
Aggregate 40,200 76,500 121,000
Years begin in March and end in April. N/A = not available
* The aggregate level is less than the class level for 2001/02 and again in 2004/2005 because the proposed regulation does not provide a de minimus level for the aggregate. Historically, there was a low level of aggregate open interest in this referenced energy contract
** ICE began reporting open interest to the CFTC on October 2007 SOURCE: Statement of Steve Sherrod, active director of the CFTC's Surveillance Division of Market Oversight
(Reporting by Tom Doggett; Editing by Lisa Shumaker) (Production Editors, Commodities and Energy, Americas; New York +1 646 223 6050/6040; Chicago +1 312 408 8720) Keywords: REGULATION CFTC/TABLE (For help: Click 'Contact Us' in your desk top, click here or call 1-800-738-8377 for Reuters Products and 1-888-463-3383 for Thomson products; For client training: training.americas@thomsonreuters.com; +1 646-223-5546) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.