Today, a Commodity Futures Trading Commission (CFTC) notice of proposed rulemaking and request for comment was released for publication in the Federal Register. This notice and request relates to the appropriate conditions, restrictions or protections to be included in any rule, regulation or order governing the trading of agricultural swamps to be implemented by the CFTC as a result of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Section 723 of Dodd-Frank prohibits swaps in an “agricultural commodity” unless entered into pursuant to a rule, regulation or order of the CFTC. This notice and request follows the recently announced open meeting to be held by the CFTC on October 1, 2010 related to several proposed rulemakings under the Dodd-Frank Act.

The public comment period will remain open for 30 days after publication in the Federal Register, but commenters are encouraged to submit comments as soon as possible during the 30-day comment period