BP has filed to register its U.S. unit as a swap dealer with U.S. authorities, joining ~80...

|About: BP p.l.c. (BP)|By:, SA News Editor
BP has filed to register its U.S. unit as a swap dealer with U.S. authorities, joining ~80 investment banks and the first oil company to face new oversight of its derivatives business. Beginning this year, the CFTC has required companies to register as dealers if they trade more than $8B/year in swaps. Royal Dutch Shell (RDS.A, RDS.B) is the only other oil major considered a candidate to register.