CFTC to hold open meeting on position limits on Nov. 5

WASHINGTON Thu Oct 24, 2013 3:09am IST

WASHINGTON Oct 23 (Reuters) - The Commodity Futures Trading Commission, the U.S. derivatives regulator, said it would hold a public meeting on Nov. 5 to decide on a rule that would severely curtail the ability of banks to speculate in commodity markets.

The CFTC is putting the final touches on a revised rule on so-called position limits, even as its lawyers are preparing to defend the original rule, which was knocked down by a U.S. court last year. (Reporting by Douwe Miedema. Editing by Andre Grenon)