External Meetings: Telephone conversation with Mark Young

When:

10/11/2011 2:00 PM

Rulemaking(s):

XXVI. Position Limits

CFTC Staff:

Dan M. Berkovitz, Carlene Kim, Neal Kumar

Visitor(s):

Mark Young

Organization(s):

Skadden Arps (representing CME)

Mr. Young urged that the Commission clarify in the position limits rulemaking that amounts of a commodity subject to long-term supply contracts could be considered part of the deliverable supply of that commodity for purposes of calculating the spot month position limit if commercial practice demonstrated that such amounts were in fact available for delivery in the spot month.