Comment Text:
Dear Chairman Gensler and fellow Commissioners:
I'm writing to urge you to approve your staff's proposal on position limits, including limiting exemptions to bona fide hedgers. In addition I am asking you, please, to readjust the proposed formula in silver. The current formula of 5,000 contracts is the equivalent of 25 million ounces of silver. This is too high of a threshold in light of reduced silver volume available and the current market across the world.
It will be greatly appreciated if you lower the position limit for silver to 1500 contracts or 7.5 million ounces.
Respectfully,
Ronald A. Brandt
