Comment Text:
10-005
COMMENT
CL-00221
From:
Sent:
To:
Cc:
Subject:
Garth
Saturday, April 24, 2010 3:59 PM
Metals Hearing
Gensler, Gary ; Dunn, Michael
; Sommers, Jill ;
Chilton, Bart ; O'Malia, Scott
; Berkovitz, Dan M
< [email protected]>
Metal Position Limits
Dear CFTC Commission and Staff:
Thank you for holding your Public Meeting to Examine Futures and Options Trading in the Metals
Markets on March 25, 2010, and for the subsequent opportunity for public comment and feedback.
The mission of the CFTC is to protect market users and the public from fraud, manipulation and
abusive practices, related to the sale of commodity futures and options, and to foster open,
competitive and financially sound commodity futures and options markets. Long-term, excessive,
short-side concentration in COMEX silver futures trading persists and is of paramount concern to all
market participants and the public at large. In order to fulfill its stated mission, the CFTC must
establish rational, effective speculative position limits in COMEX silver of not more than
1500
contracts, and further ensure that exemptions are strictly enforced, allowing only legitimate,
verified hedgers to exceed them.
In this matter of broad and urgent importance, nothing short of prompt, decisive action on the part
of the CFTC would be appropriate.
Sincerely,
Garth Davidson
Tucson AZ
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