The U.S. Commodity Futures Trading Commission now shares responsibility with the Securities and Exchange Commission for regulating the $615 billion market in over-the-counter derivatives.

The complexity and the importance of derivatives and risk management has driven some of the CFTC’s staff to consult with the very banks and dealers that write most of the contracts, reports the Financial Times. Goldman Sachs, one of the largest dealer banks, has met with the CFTC staff four times in the last month; JPMorgan Chase has had three meetings.

Banks like Bank of America/Merrill Lynch, hedge funds like BlackRock and Brevan Howard and energy firms like BP and ConocoPhillips have all also been active in the discussions over how to regulate the massive and sometimes volatile market.

The discussions covered a wide variety of topics, according to the FT, from swap execution facilities to local compliance requirements to data reporting on swaps.

There has also been a great deal of discussion about commodity and energy derivatives, which bridge the divide between financial institutions which speculate and provide liquidity and end-users who employ commodity derivatives for risk management and hedging purposes.