Participants discussed GFMA GFXD’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed ISDA’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed ICE’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed CME’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed LCH’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed MFA’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed HSBC’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

Participants discussed DTCC’s comment letter responding to the Commission’s request for comment on part 45 and related provisions.

WGC discussed, further to its comment letter 59558, the cash market for gold, deliverable supply, the setting of the spot month limit, differences between gold and other commodities, and the conditional spot month limit exemption.  Regarding the cash market, WGC stated: gold was not in shortage, with recycling accounting for 35 to 38% of annual flow; gold does not spoil; gold has lesser industrial usage than other precious metals; the cash market is large, 60,000 tonnes valued at $3.5 trillion; and Basel considers gold in the same volatility category as foreign exchange.

Citadel discussed, further to Citadel's comment letter 59717, calculation of limit levels, contracts subject to limits including treatment of commodity index contracts and basis contracts, cross-commodity hedging and netting, and parity of limits for wheat contracts.