Comment Text:
10-005
COMMENT
CL-01600
From:
Sent:
To:
Subject:
j eff4trades@aol, com
Friday, April 9, 2010 12:06 PM
Metals Hearing
Feedback
To whom it may concern;
Thank you for the opportunity to comment on the issue of position limits for precious metals.
I found the recent CFTC hearings to be informative. Many concerns were stated that position limits would drive
commodities trading overseas and limit the amount of volume and thus regulatory influence over commodities as
a whole. While this may or may not be true, I feel that one point is indisputable. It is not within the purview of the
CFTC to concern itself with overseas activities. The hope and expectation of domestic traders is that you simply
work to protect the integrity of domestic markets. Foreign interests will be required to keep their own houses in
order.
Please establish a speculative position limit in COMEX silver of no more than 1000 contracts. Please restrict any
hedging exemptions from those limits to legitimate hedgers. Please stop the levels of concentration in COMEX
silver futures that have been experienced over the past few years on the short side of the market.
Sincerely,
Jeff Shaffer, Trader
Indianapolis, In
