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Code Set

ClearingRequirementExceptionCodeSet

ID1932
Typeint
PedigreeAdded EP161, Updated EP177
Specifies whether a party to a swap is using an exception to a clearing requirement. In the US, one such clearing requirement is CFTC's rule pursuant to CEA Section 2(h)(1).
NameValueSynopsisElaborationPedigree
NoException0No exceptionAdded EP161
Exception1ExceptionUsed to indicate an exception to a clearing requirement without elaborating on the type of exception.Added EP161, Updated EP177
EndUserException2End-user exceptionIn the US, see CFTC Final Rule on End-User Exception to Clearing Requirements for Swaps Fact Sheet http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/eue_factsheet_final.pdfAdded EP177
InterAffiliateException3Inter-affiliate exceptionIn the US, see CFTC Final Rule - Clearing Exemption for Swaps Between Certain Affiliated Entities http://www.cftc.gov//ucm/groups/public/@lrfederalregister/documents/file/2013-07970a.pdfAdded EP177
TreasuryAffiliateException4Treasury affiliate exceptionIn the US, see CFTC No Action Letter 13-22 No Action Relief from the Clearing Requirement for Swaps Entered into by Eligible Treasury Affiliates http://www.cftc.gov/ucm/groups/public/@lrlettergeneral/documents/letter/13-22.pdfAdded EP177
CooperativeException5Cooperative exceptionClearing exception for certain swaps entered into by cooperatives. In the US, see Regulation 50.51(a) Definition of Exempt Cooperative: https://www.federalregister.gov/articles/2013/08/22/2013-19945/clearing-exemption-for-certain-swaps-entered-into-by-cooperativesAdded EP177
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