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Comment for Proposed Rule 76 FR 4752

  • From: Cliff Larson
    MGEX - Floor trader/broker and owned and operated a Futures Commission Merchant

    Comment No: 27401
    Date: 1/27/2011

    Comment Text:

    I raise my voice in favor of the CFTC's implementation of limits and this level in silver should be no more than 1500 contracts. The 1500 contract level in silver would make it comparable to the limits that already exist in other commodities. The public was virtually unanimous in the previous public comment period held by the CFTC that it wished to have limits imposed in silver and the concensus was around the 1,500 contract level that I too am again requesting.

    CFTC has already asked the public what it thought once and it was almost completely 100% unanimous. I fear that the CFTC, through their own inaction, is going to own plenty of political blame should there be any issue with the COMEX silver market, the COMEX warehouse or any breakdown in the market system that the CFTC is dispatched to protect.

    Please honor your mandate of free, transparent and fair markets free from disruptive trading practices.

    Cliff Larson

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