On August 4th, the CFTC voted to approve new final rules permitting the transaction of swaps in an agricultural commodity subject to all provisions of the Commodity Exchange Act, and any rule, regulation, or order thereunder, applicable to all other swaps. The new rules also explicitly provide that swaps in an agricultural commodity may transact on a swap execution facility ("SEF") and/or designated contract market ("DCM") to the same extent that any other swap may transact on a SEF and/or DCM. The new rules only apply to agricultural swaps; the CFTC is continuing to review and consider the comments received on the proposed commodity options rules. The new rules are effective December 31, 2011. CFTC Fact Sheet.