WASHINGTON, May 22 (Reuters) - The U.S. derivatives watchdogasked on Thursday for more industry comments on a proposed ruleto curb speculators in commodity futures markets.
Commodity Futures Trading Commission acting Chairman MarkWetjen said reopening the comment period was designed to ensurethe proposed changes did not block access to markets for thosewho use them to hedge prices rather than for speculation.
The proposed rule for position limits, a curb on thepercentage of the market any trader can hold, was one of themost controversial reforms that emerged from the 2010 Dodd-FrankAct to overhaul financial markets.
A judge knocked down an earlier version of the rule in 2012after Wall Street firms challenged it in court, fearing theywould incur high administrative costs.
The new proposal, unveiled last November, drew over 100comment letters by market participants, including one from apowerful industry body whose members include oil major BP Plc, commodity power houses Cargill Inc and Bunge Ltd, andthe world's largest futures exchange, the CME Group Inc.
The futures and swaps regulator said it would discuss someof the issues at stake in a roundtable on June 19, and thatparties had until July 3 to send in new comments on theproposal.
(Reporting by Douwe Miedema; Editing by Peter Cooney)