Washington, 18 January 2011

The U.S. futures regulator hopes to fully implement its biggest crackdown on commodity market speculators by early 2012, a year after the deadline set by lawmakers, it said in a filing that gave the most detailed legal argument and timeline yet for the controversial plan.

In the full text of its 100-page proposal, which must overcome significant internal skepticism before it can be finalized, the Commodity Futures Trading Commission also clarified an interim plan demanding much more information about the positions held by big traders in energy and metals markets, saying it would affect some 140 entities on a monthly basis.

The trading limits, designed to prevent price distortion from "excessive speculation," will be open for public comment for 60 days once the filing, now on the CFTC's website, is published in the government's Federal Register.

Ends --

Reuters – for Commodities Now.

www.cftc.gov