When Swap Dealers Recieve A ‘Special Call’ From The CFTC

In the last six months, the U.S. Commodity Futures Trading Commission has increased its use of “special calls” to commercial energy companies that transact in natural gas futures, exchange-traded options and swaps — and dealing with these calls requires an understanding of the many ambiguities in the CFTC’s new swap rules, say Patricia Dondanville and Thomas Watterson of Reed Smith LLP.