Amends Federal bankruptcy law to modify the definitions of forward contract and forward contract merchant to conform with the definition of…

Official title: An Act to amend title 11 of the United States Code, the Bankruptcy Code, regarding swap agreements and forward contracts.

Amends Federal bankruptcy law to modify the definitions of forward contract and forward contract merchant to conform with the definition of "commodity" included in the Commodity Exchange Act and to define: (1) swap agreement; (2) swap participant; (3) margin payment; and (4) settlement payment. Exempts various transactions in connection with currency swap agreements from the automatic stay triggered by the filing of a bankruptcy petition. Prohibits the trustee in bankruptcy from avoiding any transfer made under a swap agreement before commencement of the bankruptcy case or any setoff in connection with a swap agreement if the offset is made within 90 days prior to the bankruptcy filing. Provides that a forward contractor's rights whether in writing or not, arising under common law, under merchant law, or by reason of normal business practice cannot be stayed, avoided, or otherwise limited because of the insolvency or bankruptcy of the other party to the contract. Provides that the contractual right of a nonbankrupt party to a swap agreement to terminate the agreement shall not be stayed or otherwise limited under Federal bankruptcy law or by related judicial or administrative proceedings.