Mark Wetjen, President Barack Obama's nominee for the Commodity Futures Trading Commission, told the Senate Agriculture Committee that he would bring an "independent and open mind" to the CFTC. The top aide to Senate Majority Leader Harry Reid, D-Nev., vowed to stick closely to lawmakers' intent in writing new rules. Regarding position limits on speculative trading in derivatives, he said that the commission needs to "make sure that any rule doesn't dry up liquidity in these markets."

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