AFIA provides comments to commodity commission regarding definitions
Group urges commission to clearly define terms
The American Feed Industry Association (AFIA) recently submitted comments to the Commodity Futures Trading Commission (CFTC) regarding definitions in the recently passed Dodd-Frank Wall Street Reform and Consumer Protection Act.
“The definitions for key terms such as swap, swap dealer and major swap participant should provide the flexibility required by bona fide end users and also protect the markets from undue influence of large speculative positions,” said Joel G. Newman, AFIA’s president and CEO.
AFIA also requested CFTC proceed with its objective to minimize additional costs or capital requirements on bona fide hedgers, while limiting the ability of passive long financial speculators to influence these commodity market functions.