CFTC clarification on physical gas deals welcomed
Energy firms expressed relief after the US Commodity Futures Trading Commission (CFTC) clarified the controversial issue of whether some physical gas transportation and storage agreements could get classed as swaps under the US Dodd-Frank Act.
Several trade groups had submitted comment letters to the agency arguing that if such agreements were considered swaps, it would subject their members to complex and burdensome regulations that were primarily designed for banks and not energy companies.
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