Effective And Compliance Dates Set For New CFTC Position Limits For Physical Commodity Derivatives

A CFTC final rule that applies federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps, was published in the Federal Register. The final rule will go into effect on March 15, 2021.

The final rule also adopted a bifurcated compliance date, establishing as the compliance dates:

• January 1, 2022, for position limits on the 16 non-legacy core referenced futures contracts, subject to the newly adopted CFTC position limits, as well as position limits for associated referenced contracts other than economically equivalent swaps; and
• January 1, 2023 as the compliance date for position limits on economically equivalent swaps.