Comment Text:
Dear Mr. Stawick
David A. Stawick
Secretary
Commodity Futures Trading Commission
Three Lafayette Center 1155 21st Street, NW
Washington, DC 20581
Re: Rules for the Dodd-Frank Wall Street Reform Act
Dear Mr. Stawick,
Please do everything possible to maintain the purpose of this law: placing limitations on the speculation on commodity markets and prices. I urge you to consider the following:
1. Rule that the term “commercial risk” applies only to those who actually deal with the material/physical commodity.
2. Set strict "position limits" which will minimize or - better yet - eliminate ‘excessive speculation.’
3. Set stricter limits on Exchange Traded Notes and Funds and swap-based Index Funds to - again - minimize‘excessive speculation.’
4. Ownership of trading facilities must also be limited to insure adequate competition and to inhibit collusion.
5. Investigate and - if needed - place controls on the use of Computerized/algorithm-based trading, which seems to have the potential to harmfully influence the commodity market.
Thank you for considering these concerns.
Sincerely,
Philip McLain
7877 SE Jefferson St.
Portland, OR 97045
US
