Energy Users Ask CFTC to Grant “No-Action” Relief for Notional Amount Methodology
(Washington, D.C.) — Today the Natural Gas Supply Association (NGSA), joined by the
Electric Power Supply Association, asked the Commodity Futures Trading Commission
(CFTC) to grant “no-action” relief on methodologies used to calculate the notional amount of certain commodity swaps.
Jenny Fordham, NGSA’s vice president, markets, said, “We’re asking the CFTC to confirm
that it won’t recommend an enforcement action against a market participant that calculates the notional amount of its swaps in a way that is consistent with its understanding of industry practice or another commercially reasonable method in the absence of additional formal regulatory guidance.”
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