Athena Velie, a partner at McDermott Will & Emery LLP, addresses the "soup to nuts" of derivatives reform in Title VII of the Dodd Frank Act. Topics include: • how Congress defined the term "swap" and what the industry is saying about it; • the new requirements applicable to swap dealers, major swap participants and swap execution facilities; and • the so-called "end user exemption" and the CFTC's rulemakings, including its first proposal on key definitions.