External Meetings: CFTC/SEC Meeting with the Natural Gas Supply Association

The meeting discussed the issues raised in the comment letter provided by the Natural Gas Supply Association on September 28, 2010 – the definitions of “Swap Dealer” and “Major Swap Participant,” and in particular the de minimis exception to the swap dealer definition, how capital and margin requirements would apply to natural gas companies, how the mandatory clearing requirement would apply to long-term swaps, and how position limits would apply to hedged and speculative positions.