Futures exchange operator CME Group Inc. (CME) raised concerns Wednesday about regulators' new rule on speculation in commodity markets.

CME Group, which runs the largest futures exchange in the world, said in a statement that the new rule could "constrain legitimate risk management activities by commercial participants."

The Commodity Futures Trading Commission approved a much-debated, long-delayed rule that will limit the positions traders can take in 28 different commodities in a narrow vote Tuesday.

The commission received over 15,000 comments on the rule and commissioners voiced concerns right before the vote that the new limits were unnecessary because there was no conclusive evidence that speculation has had a negative effect on commodity markets.

In the 2010 Dodd-Frank law, Congress told regulators to impose limits on speculation in commodity markets "as appropriate."

CME and others have questioned whether the law gives regulators the authority to create limits without first proving that they are necessary.

"The Commission has not yet explained its reasons for concluding that its adopted limits especially in non-spot months are necessary or appropriate," CME said in the statement.

CME also said it was concerned that the rules will encourage people to migrate to markets outside the U.S. that don't have the same limits.

 
   -By Jamila Trindle, Dow Jones Newswires; 202-862-6684; jamila.trindle@dowjones.com
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