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Email Steven Lofchie comments on a no-action letter issued by the U.S. Commodity Futures Trading Commission (CFTC) to Southwest Airlines that may herald a broader shift in the CFTC's policy of requiring commodity derivatives end-users to report their swap trades in real time. https://www.cadwalader.com/news/recent-press/u-s-airline-wins-dodd-frank-real-time-reporting-delay