Commodity derivatives client position-limit rules now cap daily...

Commodity derivatives client position-limit rules now cap daily monetary penalties for open-interest breaches, with lower caps for breaches up to 2% of prescribed limits and higher caps for larger breaches. Members must reduce excess positions by the next trading day; exchanges may square off continuing excess positions, impose one-day square-off mode for repeated same-commodity breaches, and levy an additional penalty after repeated monthly violations, except where violations arise exclusively from position clubbing. Agricultural commodities qualify as broad commodities if non-sensitive and meeting the revised five-year deliverable-supply threshold. Client open-position limits remain linked to deliverable supply: 2% for broad, 1% for narrow, and 0.5% for sensitive commodities, subject to transitional treatment for newly reclassified broad commodities.