Hi, CO.
Perhaps, with the changing of the times, large spec reporting may be more reliable.
However, it meant little in the eighties ... as in certain commodities, it did not require much to be "reportable".
When I actively traded size, it was only 25 carloads of bellies (back when it was an actual 38,000 pound carload). The first time that I had to, for my personal account, fill out the CFTC report was for the long bonds. A fifty cak spread required reporing (fifty and fifty equals a hunnert).
Seems like I was always filling them out for bellies and the occassional feeder 'r two.
So, large specs "sophisticated"? I really oughta check out the spelling on that one.