110-H.R.3009

To enhance transparency of trading in over-the-counter derivatives in natural gas.

7/12/2007--Introduced.

Market Transparency Reporting of United States Transactions Act of 2007 - Amends the Commodity Exchange Act to define "included natural gas transaction" as a contract, agreement, or transaction in natural gas that is entered into: (1) in reliance on the provisions regarding either excluded swap transactions or the legal certainty for certain transaction in exempt commodities; or (2) by use of a domestic technology or software providing direct access to a foreign board of trade. (Thus places natural gas transactions within the jurisdiction of the Commodity Futures Trading Commission (CFTC).)

Prescribes recordkeeping and disclosure requirements governing natural gas in swap transactions, positions, inventories and commitments otherwise excluded from CFTC jurisdiction ("over-the-counter transactions").

Requires the CFTC to: (1) establish a reporting system regarding large positions in included natural gas transactions; (2) publish on a regularbasis the information reported to it regarding such transactions; and (3) promulgate rules or regulations to implement this Act.

Requires the CFTC reporting system to include aggregate reportable positions held by commercial and noncommercial persons.

Increases civil money penalties for violations of this Act. Revises criminal penalties.

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