Tuesday, June 17, 2008

The first nail to the coffin of energy specs

The Commodity Futures Trading Commission said Tuesday it had amended an agreement that would require IntercontinentalExchange's ICE Futures Europe unit to adopt position limits for its West Texas Intermediary crude oil contract that are equivalent to U.S. position limits. ICE said it plans to comply with the amended no-action letter within 120 days, subject to acceptance by the U.K. Financial Services Authority, the regulator of ICE Futures Europe.

source: ICE Futures Europe To Impose U.S. Position Limits
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