17 CFR § 37.600 - Core Principle 6—Position limits or accountability.

---
identifier: "/us/cfr/t17/s37.600"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "17 CFR § 37.600 - Core Principle 6—Position limits or accountability."
title_number: 17
title_name: "Commodity and Securities Exchanges"
section_number: "37.600"
section_name: "Core Principle 6—Position limits or accountability."
chapter_name: "COMMODITY FUTURES TRADING COMMISSION"
part_number: "37"
part_name: "SWAP EXECUTION FACILITIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "7 U.S.C. 1a, 2, 5, 6, 6c, 7, 7a-2, 7b-3, and 12a, as amended by Titles VII and VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. 111-203, 124 Stat. 1376."
regulatory_source: "78 FR 33582, June 4, 2013, unless otherwise noted."
cfr_part: "37"
---


# 37.600 Core Principle 6—Position limits or accountability.

(a) *In general.* To reduce the potential threat of market manipulation or congestion, especially during trading in the delivery month, a swap execution facility that is a trading facility shall adopt for each of the contracts of the facility, as is necessary and appropriate, position limitations or position accountability for speculators.

(b) *Position limits.* For any contract that is subject to a position limitation established by the Commission pursuant to section 4a(a) of the Act, the swap execution facility shall:

(1) Set its position limitation at a level no higher than the Commission limitation; and

(2) Monitor positions established on or through the swap execution facility for compliance with the limit set by the Commission and the limit, if any, set by the swap execution facility.