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H.Res. 1289: Urging the President to direct the Commodity Futures Trading Commission to work with the United Kingdom Financial Services Authority to establish position limits on oil futures traded by traders on the Intercontinental Exchange that are similar to those established by the Commodity Futures Trading Commission for traders on the New York Mercantile Exchange.

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H.Res. 1289: Urging the President to direct the Commodity Futures Trading Commission to work with the United Kingdom Financial Services Authority to establish position limits on oil futures traded by traders on the Intercontinental Exchange that are similar to those established by the Commodity Futures Trading Commission for traders on the New York Mercantile Exchange.

110th Congress · introduced 2008-06-19 · Finance and Financial Sector · Latest: Referred to the Subcommittee on General Farm Commodities and Risk Management.

federal

Follow this bill, step by step

  1. Where it came from: introduced 2008-06-19 · official record
  2. Who proposed it: Rep. Shays, Christopher [R-CT-4] · what a sponsor is
  3. What happened next: no floor votes in our records yet. Why?
  4. Where it stands now: Referred to the Subcommittee on General Farm Commodities and Risk Management. Not final yet: this can still change. We check for updates every day.
  5. If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Urging the President to direct the Commodity Futures Trading Commission to work with the United Kingdom Financial Services Authority to establish position limits on oil futures traded by traders on the Intercontinental Exchange that are similar to those established by the Commodity Futures Trading Commission for traders on the New York Mercantile Exchange.

Plain summary

Urges the Commodity Futures Trading Commission (CFTC) to require institutional investors to abide by position limits already established for the greater crude oil trading community. Urges the President to direct the CFTC to work with the United Kingdom Financial Services Authority to establish position limits on oil futures traded by traders on the Intercontinental Exchange that are similar to those established by the CFTC for traders on the New York Mercantile Exchange.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

A Yea supports adopting this resolution.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Urging the President to direct the Commodity Futures Trading Commission to work with the United Kingdom Financial Services Authority to establish position limits on oil futures traded by traders on the Intercontinental Exchange that are similar to those established by the Commodity Futures Trading Commission for traders on the New York Mercantile Exchange.

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Shays, Christopher [R-CT-4] · 2 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Agencies named in this bill

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No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)
Resolution
A formal statement or decision by a legislative body. Simple resolutions often only express an opinion or set rules for one chamber; they do not become law.
Roll-call vote
A vote where each member's position is recorded by name, so the public can see how every member voted. "Yea" means yes, "Nay" means no, "Present" means the member was there but did not take a side.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong110-hres1289 · catalog fed-us-congress-bills-cong110 · updated 2026-11-15 by psicol fed-bills-cong110