US energy firms cheer CFTC decisions on ‘swap’ definition, end-user exception
The US Commodity Futures Trading Commission (CFTC) voted on Tuesday to finalise two major rules stemming from the Dodd-Frank financial reform law. In both cases – the definition of a 'swap' and the end-user exception to clearing – the CFTC heeded the concerns of energy companies and introduced changes that were welcomed by industry trade groups.
"We think the CFTC has made a lot of progress," said Andrew Soto, senior managing counsel of regulatory affairs for the American Gas Association (AGA)
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