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Comment for Proposed Rule 75 FR 51429

  • From: Molly Anderson
    Organization(s):

    Comment No: 55029
    Date: 11/23/2010

    Comment Text:


    Dear Mr. Stawick

    David A. Stawick
    Secretary
    Commodity Futures Trading Commission
    Three Lafayette Center 1155 21st Street, NW
    Washington, DC 20581

    Considerations to best implement Dodd-Frank Wall Street Reform Act

    Dear Mr. Stawick,

    It is important that the CFTC do everything possible to maintain a strong Dodd-Frank financial reform law. I want to encourage you to limit excessive speculation in commodity markets through the following steps:

    Definition of “commercial risk” - Limit this definition to bona fide users of commodity markets who deal with physical commodities. Commercial risk should not be expanded to include financial risks for banks and hedge funds.


    Position Limits - Please define limits that will address not only manipulation, but also excessive speculation (i.e., using a stricter approach).

    Exchange Traded Notes and Funds and Swap-based Index Funds - I encourage the Commission to define more aggressive limits for these types of speculative instruments.

    Ownership of trading facilities - The CFTC must establish both a meaningful limit on individual ownership and a limit on collective ownership if the proposed rule is to have the intended effect of limiting conflicts of interest, assuring transparency and open competition, and preventing clearinghouses and exchanges from catering solely to the interests of a few large banks or other participants.

    High frequency trading - I support the Commission carrying out in-depth studies of the effects of computerized/ algorithm-based trading, including high-frequency trading, and considering the appropriateness of these types of investments in important commodity markets at all.


    Thank you for your consideration,


    Molly Anderson
    22 Lawrence Ln
    Bar Harbor, ME 04609
    US

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