Andrea Kramer, a partner in McDermott Will & Emery LLP, provides an overview of popular financial products and their uses, as well as an explanation of the significance of these rules to different types of taxpayers and the tax rules applied to them. Also addressed: section 1256 contracts and the tax straddle rules and how these special tax rules apply to certain types of products and situations; application of the mark-to-market rules; the special rules for commodities derivatives dealers; and the tax treatment of supplies and tax hedges. Our presenter also discusses the effect Dodd-Frank has on certain popular financial products.