BP Is 1st Oil Co. To Add Trading Unit To CFTC Swap Dealer List

Law360, New York (July 11, 2013, 3:57 PM EDT) -- BP PLC on Thursday became the first oil company to register its U.S. unit as a swap dealer with the U.S. Commodity Futures Trading Commission as part of the regulator’s push to shore up its monitoring of the sophisticated financial instruments under the Dodd-Frank Act.

The British petroleum giant’s Houston-based energy trading unit BP Energy Co. is now registered as a swap dealer with the CFTC, BP spokesman Scott Dean confirmed to Law360 on Thursday. Dean did not comment further on the decision.

A spokesman for...
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