Wall Street's challenge to U.S. regulations limiting speculationin commodities including oil and natural gas should be dismissedbecause Congress required the rules under the Dodd-Frank Act, 35Democratic Senators and Representatives said in briefs submitted toa federal judge.

The 2010 Dodd-Frank law “was designed and intended to make thoseposition limits mandatory,” 18 Democratic and one Independentsenator said in a friend of the court brief submitted to the court.In a separate brief scheduled to be filed, 17 Democratic Housemembers said the law didn't require an analysis prior tocompletion.

Trade associations representing companies including JPMorganChase & Co., Goldman Sachs Group Inc. and Morgan Stanley suedto overturn the U.S. Commodity Futures Trading Commissionregulation approved last year that would cap the number ofcontracts a derivatives trader can have.