Without regulation, Amaranth was able to acquire enormously large positions on NYMEX and ICE that may have led to a distortion of natural gas prices which ultimately affected consumers of natural gas.41 However, even though Amaranth’s positions on NYMEX were regulated by the CFTC, they still were extremely large. So it is not clear that the regulation per se will solve the problem. The position limits on NYMEX were very loosely enforced and subject to interpretation by NYMEX officials. It was only at late stages of the Amaranth debacle that Amaranth moved substantial positions from NYMEX to the unregulated ICE.