Comment Text:
Dear Chairman Gensler and fellow Commissioners:
Every market should be looked in detail to determine the appropriate position limits. In the case of silver, a maximum of 1500 contracts or lower seem to be appropriate level in order to prevent over exposure to a market with limited supply. Furthermore, all investors/speculators/hedgers etc should play by the same rules and therefore exemptions should not be granted to anyone. Let the market decide what the appropriate price for the commodity should be. The proposed formula on position limits will not prevent the silver market to continue being manipulated.
Thank you for all your hard work and for taking the initiative to make regulation more transparent.
Respectfully,
Ricardo Soto.
Investor
