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Commodity Exchange Act Basics for Lawyers

Speaker(s): Gary Kalbaugh, Julian E. Hammar
Recorded on: Oct. 10, 2017
PLI Program #: 227354

Julian Hammar is Of Counsel in the Washington, D.C. office of Morrison & Foerster. He focuses his practice on futures, derivatives and commodities, energy regulatory, corporate and securities matters.
Mr. Hammar is a leading expert on the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Prior to joining Morrison & Foerster, Mr. Hammar served as special counsel at an Am Law 50 firm and as the assistant general counsel at the Commodity Futures Trading Commission (CFTC), Office of the General Counsel.
His most recent work at the CFTC included drafting regulations to further define key terms including “swap,” “security-based swap” and “security-based swap agreement,” under the Dodd-Frank Act. In addition, he assisted with drafting other Dodd-Frank Act regulations, including the entity definitions (rules to further define such terms as “swap dealer,” “major swap participant” and “eligible contract participant”), commodity options and the Volcker Rule. He was also a member of the CFTC’s legislative drafting team that drafted the derivatives title of the Obama Administration’s legislative proposal for derivatives regulation that eventually was enacted into law as Title VII of the Dodd-Frank Act.
Mr. Hammar’s other CFTC experience includes complex matters involving the intersection of securities and futures regulation, including the drafting of CFTC exemptive orders with respect to products on certain exchange-traded funds and joint CFTC/SEC orders excluding certain indexes from the definition of “narrow based security index” and modifying listing standard requirements for security futures products. He also drafted CFTC adjudicatory opinions in administrative enforcement and reparations cases under the Commodity Exchange Act.
Mr. Hammar’s bankruptcy experience obtained while at the CFTC involves futures commission merchant bankruptcies, applicable Bankruptcy Code provisions and CFTC bankruptcy regulations.
He received his B.A. from Yale University in 1990 and his J.D. and M.A. in 1996 from Duke University School of Law, where he was an editor of the Alaska Law Review.
Mr. Hammar is recommended by Legal 500 US 2013 for Energy: Litigation and Regulatory and received the CFTC Chairman’s Exceptional Service Award in 2012.


  • Yale University (B.A., 1990)
  • Duke University (M.A., 1996)
  • Duke University School of Law (J.D., 1996)


  • Derivatives + Commodities
  • Energy Regulatory
  • Corporate

Bar Admissions

  • New York
  • District of Columbia