Understanding the Main Players in the Legacy Report

Setting aside the new Disaggregated Report pending the decision of the CFTC, it was noted above that experienced COT traders have traditionally tended to focus on the short format, futures only version of the Legacy Report. This report can be found on the CFTC's web site in relation to the 10 main futures exchanges in the United States. For example, Table 12.2 is the weekly December 18, 2009, Legacy Report compiled from the Chicago Mercantile Exchange of the Euro FX futures.

In this report we can easily identify the three categories of traders from left to right: noncommercials (hedge funds, commodity pools, and CTAs), commercials (producer and consumer hedgers), and nonreportable positions ...

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