The U.S. Commodity Futures Trading Commission (CFTC) will appeal a judge's ruling that rejected efforts to curb speculative derivatives trading after the 2008 financial crisis, Bloomberg News reported yesterday. The CFTC filed a notice of appeal yesterday seeking to ask a three-judge panel to reverse a ruling by U.S. District Judge Robert Wilkins that said that the CFTC failed to assess whether limiting the number of contracts a trader can have in oil, natural gas or other commodities was necessary and appropriate. "The rule addresses Congress’s concern that that no single trader be permitted to obtain too large a share of the market, and that derivatives markets remain fair and competitive," CFTC Chairman Gary Gensler said. The decision, which blocked rules scheduled to take effect Oct. 12, was a victory for two Wall Street groups that challenged the constraints imposed under the 2010 Dodd-Frank Act.
