On April 29, Treasury issued a notice of proposed determination exempting foreign exchange swaps and forwards from the definition of “swap” under the Commodities Exchange Act. The proposed determination does not extend to other foreign exchange derivatives including foreign exchange options, currency swaps, and non-deliverable forwards. Foreign exchange swaps and forwards will remain subject to the Dodd-Frank Act’s trade reporting requirements and business standards. Comments must be submitted within 30 days after publication in the Federal Register. Treasury Fact Sheet. Proposed Determination.