CBT HEAD CONFIDENT OF SEPARATE CBT, MCE LIMITS
Chicago Board of Trade, CBT,
President Thomas Donovan said he was confident the Commodity
Futures Trading Commission, CFTC, would not force the CBT and
the MidAmerica Commodity Exchange, MCE, to merge speculative
position limits on futures contracts traded on the two
exchanges.
    Last month CFTC proposed combining CBT and MCE contracts on
corn, wheat, soybeans, soybean meal and oats for the purposes
of applying speculative position limits.
    Donovan told Reuters he had spoken to CFTC officials about
the matter and believed they would modify the proposal.
    CBT officials have complained the CFTC was reneging on a
commitment made when the two exchanges formed an affiliation,
and proposing to decrease spot month limits on the MCE contrary
to congressional intent.
 Reuter
