WASHINGTON (Reuters) - Commodity Futures Trading Commission head Gary Gensler said Wednesday he supports maintaining exemptions for bona fide hedgers, but he has some concern about granting exemptions for financial risk.
"While I believe that we should maintain exemptions for bona fide hedgers, I am concerned that granting exemptions for financial risk management can defeat the effectiveness of position limits," said CFTC Chairman Gensler.
The CFTC is conducting a series of hearings to explore whether to set position limits in the energy markets and if it should allow some traders to exceed those limits.
(Reporting by Ayesha Rascoe; Editing by John Picinich)
