Derivatives Law and Regulation is a comprehensive and accessible legal casebook covering futures, swaps, security-based swaps, derivatives, and similar financial products. Clear, concise, and user-friendly, it conveys an exciting and easily teachable insight into this field of law. Now in its third edition, Derivatives Law and Regulation continues to serve as the authoritative academic reference for policymakers, commissioners and staff at independent agencies, judges, MBA and business students, commodities/futures/currency traders, journalists, and others seeking insights into and understanding of the derivatives which increasingly underpin all aspects of the U.S. and global economies. Thoroughly updated, the third edition contains new chapters and reflects significant legal changes in the regulation of swap dealers, swap clearing, implementation of an entirely new security-based swap regulatory regime, virtual currency developments, major enforcement events, and the newly established cross-border regulatory regime. The casebook addresses the regulatory regimes for futures, options, swaps of all varieties, foreign exchange, and virtual currency. It ssumes no pre-existing knowledge of these products and provides basic introductions to what they are and their economic functions.