CFTC commissioner nominees pledge to complete position limit rulesWASHINGTON (Reuters) - Three of President Donald Trump’s nominees to serve as commissioners on Wall Street’s top derivatives regulatory agency on Thursday pledged to work to complete rules that would restrict trading by market speculators who bet on the rise and fall of prices. The nominees to the Commodity Futures Trading Commission, Republicans Dawn Stump and Brian Quintenz, and Democrat Rostin “Russ” Behnam, told the Senate Agriculture Committee during their confirmation hearing that they are committed to working to craft a final “position limits” rule that would limit speculators without harming farmers, ranchers and others who rely on futures markets to hedge their business risks. “I look forward to helping... finalize this rule,” said Stump, adding that she will work to ensure that the strategies agricultural businesses use to hedge “are not prevented in the future due to unworkable bonifide hedging restrictions.” Bonham said: “The relevant question is not whether or not position limits should be completed, but how they should be completed.”  The CFTC won broad new powers under the 2010 Dodd-Frank Wall Street reform to police the massive over-the-counter derivatives markets.  The agency has largely implemented the bulk of the rules, which required many kinds of derivatives to be cleared centrally to reduce the risk of default and traded on platforms with greater price transparency. The CFTC is primarily focused on reviewing more carefully how the rules are working and whether certain rules should be tweaked to reduce burdens.  Acting CFTC Chairman Chris Giancarlo, who is awaiting Senate confirmation as permanent chairman, earlier this year launched a review that aims to streamline and simplify existing regulations.  However, there are still a number of outstanding rules that need to be completed, with the position limits rule one of the most notable. Although there has generally been considerable tension between Democrats and Republicans over Trump’s nominees to various positions since January, there was no such divisiveness on display Thursday. Both Senate Agriculture Chairman Pat Roberts and Ranking Member Debbie Stabenow signaled they intend to support the nominations of all three. politicsNews
cfc commissioner nominees pledge complete position limit ruleswashington reuters three president donald trump nominees serve commissioners wall street top derivatives regulatory agency thursday pledged work complete rules would restrict trading market spectators bet rise fall prices the nominees commodity futures trading commission republicans dawn stump brian quintet democrat roster russ beam told senate agriculture committee confirmation hearing committed working craft final position limits rule would limit spectators without harming farmers ranchers others rely futures markets hedge business risks i look forward helping finalize rule said stump adding work ensure strategies agricultural businesses use hedge prevented future due unworkable bonfire edging bochum said the relevant question whether position limits completed the cfc broad new powers wall street reform police massive derivatives markets the agency largely implemented bulk rules required many kinds derivatives cleared centrally reduce risk default traded platforms greater price transparency the cfc primarily focused reviewing carefully rules working whether certain rules tweaked reduce burdens acting cfc chairman chris giancarlo awaiting senate confirmation permanent chairman earlier year launched review aims streamline simplify existing regulations however still number outstanding rules need completed position limits rule one notable although generally considerable tension democrats republicans trump nominees various positions since january divisiveness display thursday both senate agriculture chairman pat roberts ranking member debate stabenow signaled intend support nominations three politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: CFTC commissioner nominees pledge to complete position limit rulesWASHINGTON (Reuters) - Three of President Donald Trump’s nominees to serve as commissioners on Wall Street’s top derivatives regulatory agency on Thursday pledged to work to complete rules that would restrict trading by market speculators who bet on the rise and fall of prices. The nominees to the Commodity Futures Trading Commission, Republicans Dawn Stump and Brian Quintenz, and Democrat Rostin “Russ” Behnam, told the Senate Agriculture Committee during their confirmation hearing that they are committed to working to craft a final “position limits” rule that would limit speculators without harming farmers, ranchers and others who rely on futures markets to hedge their business risks. “I look forward to helping... finalize this rule,” said Stump, adding that she will work to ensure that the strategies agricultural businesses use to hedge “are not prevented in the future due to unworkable bonifide hedging restrictions.” Bonham said: “The relevant question is not whether or not position limits should be completed, but how they should be completed.”  The CFTC won broad new powers under the 2010 Dodd-Frank Wall Street reform to police the massive over-the-counter derivatives markets.  The agency has largely implemented the bulk of the rules, which required many kinds of derivatives to be cleared centrally to reduce the risk of default and traded on platforms with greater price transparency. The CFTC is primarily focused on reviewing more carefully how the rules are working and whether certain rules should be tweaked to reduce burdens.  Acting CFTC Chairman Chris Giancarlo, who is awaiting Senate confirmation as permanent chairman, earlier this year launched a review that aims to streamline and simplify existing regulations.  However, there are still a number of outstanding rules that need to be completed, with the position limits rule one of the most notable. Although there has generally been considerable tension between Democrats and Republicans over Trump’s nominees to various positions since January, there was no such divisiveness on display Thursday. Both Senate Agriculture Chairman Pat Roberts and Ranking Member Debbie Stabenow signaled they intend to support the nominations of all three. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: cfc commissioner nominees pledge complete position limit ruleswashington reuters three president donald trump nominees serve commissioners wall street top derivatives regulatory agency thursday pledged work complete rules would restrict trading market spectators bet rise fall prices the nominees commodity futures trading commission republicans dawn stump brian quintet democrat roster russ beam told senate agriculture committee confirmation hearing committed working craft final position limits rule would limit spectators without harming farmers ranchers others rely futures markets hedge business risks i look forward helping finalize rule said stump adding work ensure strategies agricultural businesses use hedge prevented future due unworkable bonfire edging bochum said the relevant question whether position limits completed the cfc broad new powers wall street reform police massive derivatives markets the agency largely implemented bulk rules required many kinds derivatives cleared centrally reduce risk default traded platforms greater price transparency the cfc primarily focused reviewing carefully rules working whether certain rules tweaked reduce burdens acting cfc chairman chris giancarlo awaiting senate confirmation permanent chairman earlier year launched review aims streamline simplify existing regulations however still number outstanding rules need completed position limits rule one notable although generally considerable tension democrats republicans trump nominees various positions since january divisiveness display thursday both senate agriculture chairman pat roberts ranking member debate stabenow signaled intend support nominations three politicsnews