© 2015 CME Group. All rights reserved. 

July 29, 2015, EEMAC Panel-Impact Analysis

Thomas LaSala MD-CRO
© 2015 CME Group. All rights reserved. 2

Impact Analysis June 1, 2014-June 30, 2015

Average Average Peak

Amount 

Over 

Single

Amount Over 

All Amount Over All

Crude 109,200 0 0 0 3,434 11,874 3.31% 83

Nat Gas 149,600 0 0 0 0 0 0% 0

ULSD 16,100 * 1,985 19 4,457 9,104 5.66% 143

RBOB 11,800 * 2,696 217 5,721 9,934 5.59% 291

Gold 21,500 * 9,274 252 12,416 20,025 6.65% 308

Silver 6,400 5 1,690 271 1,626 8,538 6.65% 246

Copper 5,600 12 1,366 579 1,142 4,197 5.20% 591

Platinum 5,000 4 969 297 991 1,946 9.37% 326

Palladium 5,000 * 730 37 833 1,425 17.67% 55

Total 28 1,672 2,043

* means fewer than 4 unique participants exceeded the level

Single Month All Month

NON-COMMERCIALS

34

1,946 10.79% 5

1,186 17.32% *

8,538 10.27% 6

5,146 8.72% 12

6,255 17.20% 4

20,025 11.41% *

0 0% 0

4,238 15.36% *

# of Participants Over All Peak Amount % of OI # of Days Over All

0 0% *

Contract CFTC Proposed Limit # of Participants Over Single Peak Amount Over 

Single

Peak Amount % of 

OI

# of Days Over Single

Average Average Peak

Amount 

Over 

Single

Amount Over 

All Amount Over All

Crude 109,200 0 0 0 0 0 0% 0

Nat Gas 149,600 0 0 0 0 0 0% 0

ULSD 16,100 * 1,004 9 2,535 8,636 4.45% 214

RBOB 11,800 * 2,452 123 4,981 13,854 5.48% 537

Gold 21,500 7 6,704 400 8,691 31,810 8.85% 633

Silver 6,400 9 2,712 1,159 4,983 12,528 9.02% 1,394

Copper 5,600 8 1,571 822 2,675 12,676 10.07% 1,710

Platinum 5,000 5 1,532 547 2,147 6,040 16.10% 610

Palladium 5,000 * 1,164 220 1,108 2,744 16.16% 254

Total 35 3,280 5,352

* means fewer than 4 unique participants exceeded the level

COMMERCIALS

Single Month All Month

3,048 17.37% *

44

12,673 14.64% 13

5,163 15.71% 5

19,244 12.02% 7

9,107 12.60% 8

1,432 15.43% 5

12,566 16.44% 5

Peak Amount % of OI # of Days Over All

0 0% 0

0 0% 0

Contract CFTC Proposed Limit # of Participants Over Single Peak Amount Over 

Single

Peak Amount % of 

OI

# of Days Over Single # of ParticipantsOver All
© 2015 CME Group. All rights reserved. 3

Impact Analysis June 1, 2014-June 30, 2015

Average

Amount 

Over 

Single

Crude 109,200 0 0 0 83

Nat Gas 149,600 0 0 0 0

ULSD 16,100 4 1,170 28 357

RBOB 11,800 5 2,608 340 828

Gold 21,500 9 7,698 652 941

Silver 6,400 14 2,519 1,430 1,640

Copper 5,600 20 1,486 1,401 2,301

Platinum 5,000 9 1,334 844 936

Palladium 5,000 * 1,101 257 309

Total 63 4,952 7,395

* means fewer than 4 unique participants exceeded the level

All Month

TOTAL (Commercials + Non-Commericals)

* 1,059

78

# of Days 

Over 

Single

Single Month

14 4,479

25 2,282

10 1,744

8 3,305

9 5,241

9 9,911

# of Days 

Amount Over All Over All

* 3,434

0 0

Contract CFTC Proposed Limit # of Participants Over Single # of 

ParticipantsOver All

Average
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Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of 

a contract’s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders 

should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one 

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meaning of section 1(a)12 of the Commodity Exchange Act. Swaps are a leveraged investment, and because only a percentage of a contract’s 

value is required to trade, it is possible to lose more than the amount of money deposited for a swaps position. Therefore, traders should only use 

funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because 

they cannot expect to profit on every trade.

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