Comment Text:
On behalf of The Commercial Energy Working Group (the “Working Group”), Sutherland Asbill & Brennan LLP hereby submits these comments in response to the Commodity Futures Trading Commission’s (the “Commission’s”) request for public comment regarding the proposed hedging exclusion under the swap dealer definition set forth in the Joint Final Rule; Joint Interim Final Rule, Further Definition of “Swap Dealer,” “Security-Based Swap Dealer,” “Major Swap Participant,” “Major Security-Based Swap Participant” and “Eligible Contract Participant” (the “Interim Rule”).
The Working Group is a diverse group of commercial firms in the energy industry whose primary business activity is the physical delivery of one or more energy commodities to others, including industrial, commercial and residential consumers. Members of the Working Group are energy producers, marketers and utilities. The Working Group considers and responds to requests for comment regarding regulatory and legislative developments with respect to the trading of energy commodities, including derivatives and other contracts that reference energy commodities.
The Working Group appreciates this opportunity to provide comments on the Interim Rule and respectfully requests that the Commission consider the comments set forth herein as it develops its final rules regarding this matter.
Respectfully submitted,
David T. McIndoe
Counsel for The Commercial Energy Working Group
