Comment Text:
Thank you for the opportunity to comment.
I would ask the CFTC to enforce the position limit of 1,500 contracts and by doing so eliminate the unfair advantage that some large entities enjoy at the expense of the market as a whole. The market exists to serve all participants not just those who have gained extraordinary leverage by one means or another.
Markets are non- functional when few are favored at the expense of others and when markets are perceived to be non- transparent. Traders today expect the markets are manipulated which eliminates the important price discovery and effects liquidity. Frankly, it appears participants are breaking the law. There is evidence of naked short- selling, front- running and other forms of cheating. Even if this is not taking place, the appearance of impropriety and unfairness impairs the markets' functionality.
Remedying this sort of nonsense is presumably the job of the CFTC.
Excess clout by monopolists has been an ongoing issue in the futures markets for years and the time to bring this under control is now.
Regards,
steve from virginia
