On May 12, 2015, the U.S. Commodity Futures Trading Commission (CFTC) issued its final interpretation (Final Interpretation) to clarify when a nonfinancial commodity contract that contains “embedded volumetric optionality”...more
In 2012, the Commodity Futures Trading Commission issued an interpretation that identifies the circumstances in which an agreement, contract or transaction would fall within the forward contract exclusions from the “swap” and...more
On May 12, 2015, the Commodity Futures Trading Commission (CFTC) issued revised interpretive guidance for forward contracts with embedded volumetric optionality (EVO). In 2012, the CFTC and Securities and Exchange Commission...more
With recent release, the CFTC hopes to eliminate market uncertainty on forward contracts with embedded volumetric optionality. The comment period recently closed for a proposed interpretation (the Proposal) to further...more