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END-USER CLEARING EXCEPTION INSTRUCTIONS Rule Section 2(h)(7)(A) of the CEA and CFTC Regulation 50.50 and 50.51, as well as CFTC Staff NoAction Letter 13-22, provide for an exception from clearing.

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Non-financial end user means a counterparty that is not a swap dealer, a major swap participant, or a financial end user.

Financial end user means a counterparty that is not a swap entity and satisfies one of the twelve factors found in the definitions in 17 C.F.R. § 23.151.

A so-called “end-user exception” allows parties to claim exemption from the clearing mandate and continue executing uncleared swaps with their dealer counterparties if one of them: Is not a financial entity.

The final rule exempts banks, savings associations, farm credit system institutions, and credit unions with total assets of $10 billion or less from the definition of “financial entity,” making such “small financial institutions” eligible for the end-user exception.

Clearing Exception means an exception from the clearing requirement set forth in Section 2(h)(1) of the Act because one counterparty to the transaction is entitled to the exception from the clearing requirement set forth in Section 2(h)(7) of the Act, CFTC Regulations or CFTC Staff No- Action Letters.

The End-User Exception is intended to permit non-financial swap counterparties to continue to enter into swaps to hedge risks associated with their underlying business without the potentially burdensome obligations that accompany central clearing of swaps.

The commercial end-user exception provides an exception to the clearing requirement so that certain nonfinancial entities that use swaps and security-based swaps to hedge or mitigate commercial risks associated with their underlying business are not required to submit such instruments for clearing.

The end-user exception (i) allows an end-user of a swap that would otherwise be subject to the Clearing Mandate to be excused from the Clearing Mandate under certain circumstances and provided that the end-user meets certain requirements, and (ii) acts as an exception from the Trade Execution Requirement that are ...

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232