Sec. 354. Relief for end-users who use physical contracts with volumetric optionality

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Section 1a(47)(B)(ii) of the Commodity Exchange Act ( 7 U.S.C. 1a(47)(B)(ii) ) is amended to read as follows: any purchase or sale of a nonfinancial commodity or security for deferred shipment or delivery, so long as the transaction is intended to be physically settled, including any stand-alone or embedded option— for which exercise results in a physical delivery obligation; that cannot be severed or marketed separately from the overall transaction for the purpose of financial settlement; and for which both parties are commercial market participants; .

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U.S. Code

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§ 1a

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Sec. 354

Relief for end-users who use physical contracts with volumetric optionality

U.S.C.§ 1a

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