Mark:    Attached is my "short version" of Eligible Contract Participant (I would  generally send to credit, new lawyer, etc.)
I am still uncertain about the  status of the Trade Option Exemption (Issue 4); I understood from the  conversation that you, Brent and I had that the old rules were out.
I have  heard a different interpretation.
What is the status of this exemption under  the new law?

Commodity Futures Modernization Ace