Position limits for agricultural commodity futures revised; client MWOI cap removed and near month netting disallowed. Revision of open position limits for agricultural commodity futures removes the client level market wide open interest cap and prescribes that near month position exposure be capped at one fourth of the overall position limit. Overall and near month positions are calculated by aggregating all long positions and all short positions separately and taking the higher; netting of near month with far month contracts is prohibited. Member overall limits are the greater of the numerical limit or fifteen percent of market wide open interest, with client and proprietary positions aggregated without netting.
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Position limits for agricultural commodity futures revised; client MWOI cap removed and near month netting disallowed.
Revision of open position limits for agricultural commodity futures removes the client level market wide open interest cap and prescribes that near month position exposure be capped at one fourth of the overall position limit. Overall and near month positions are calculated by aggregating all long positions and all short positions separately and taking the higher; netting of near month with far month contracts is prohibited. Member overall limits are the greater of the numerical limit or fifteen percent of market wide open interest, with client and proprietary positions aggregated without netting.
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