Position Limits for Derivatives

Position Limits for derivatives and aggregation of positions

The Commission has issued proposed rules to implement the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Additional information regarding Position Limits, including Bona Fide Hedging Definition & Aggregate Limits is provided below, including a factsheet for the proposed rules.

Related Federal Register Releases

Proposed Rule: 81 FR 96704 // PDF Version
12/30/2016
17 CFR Parts 1, 15, 17, 19, 37, 38, 140, 150 and 151
Position Limits for Derivatives
Comment File - Closing Date: 2/28/2017

Final Rule:  81 FR 91454 // PDF Version
12/16/2016
17 CFR Part 150
Aggregation of Positions
Effective Date: Tuesday, February 14, 2017

Proposed Rule:  81 FR 38458 // PDF Version 
6/13/2016
17 CFR Parts 37, 38, 150
Position Limits for Derivatives: Certain Exemptions and Guidance
Comment File - Closing Date:  7/13/2016

Proposed Rule: 80 FR 58365 // PDF Version 
9/29/2015
17 CFR Part 150
Aggregation of Positions
Comment File - Closing Date: 11/13/2015

Proposed Rule:  80 FR 15699 // PDF Version
3/25/2015
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives and Aggregation of Positions; Correction
Comment File - Closing Date: 3/30/2015

Proposed Rule:  80 FR 10022 // PDF Version
2/25/2015
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives and Aggregation of Positions
Comment File - Closing Date: 3/28/2015

Proposed Rule:  80 FR 200 // PDF Version
1/5/2015
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives and Aggregation of Positions
Comment File - Closing Date: January 22, 2015

Proposed Rule79 FR 71973 // PDF Version
12/4/2014
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives and Aggregation of Positions
Comment FileClosing Date:  January 22, 2015

Proposed Rule:  79 FR 37973 // PDF Version
7/3/2014
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives and Aggregation of Positions
Comment File - Closing Date:  August 4, 2014

Proposed Rule: 79 FR 30762 // PDF Version
5/29/2014
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives and Aggregation of Positions
Comment File - Closing Date: July 3, 2014

Orders and Other Announcements:  78 FR 76787 // PDF Version
12/19/2013
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140 and 150
Position Limits for Derivatives
Effective Date: Thursday, December 19, 2013

Proposed Rule:  78 FR 75680 // PDF Version
12/12/2013
17 CFR Parts 1, 15, 17, 19, 32, 37, 38, 140, and 150
Position Limits for Derivatives
Comment File - Closing Date: 2/10/2014

Proposed Rule: 77 78 FR 68946 // PDF Version
11/15/2013
17 CFR Part 150
Aggregation of Positions
Comment File - Closing Date: January 14, 2014

Additional Information

No-Action Letter 17-06
February 06, 2017
§ 150.4(c) Aggregation Exemption Notice Filing Requirement

Agricultural Advisory Committee Meeting:  Discussion Questions

Position Limits Roundtable: Staff Questions

View Vacated Part 151 Position Limits, including Bona Fide Hedging Definition & Aggregate Limits

Fact Sheet: Proposed Regulations on Position Limits for Derivatives
Questions and Answers: Position Limits for Derivatives

Event: Open Meeting on Two Final Rules and One Proposed Amendment

CME Group Deliverable Supply Estimates (July 1, 2013)

CFTC Staff Workbook of Commodity Derivative Contracts Under the Reproposal Regarding Position Limits for Derivatives --(12/05/2016)  Excel // PDF Version

CFTC Staff Workbook of Commodity Derivative Contracts Under the Proposed Regulations Regarding Positions Limits for Derivatives--(12/12/2013)  Excel // PDF Version

Testimony, “Position Limits and the Hedge Exemption, Brief Legislative History”