Non-financial counterparty

Regulation - EMIR.

(NFC).

A non-financial counterparty is a counterparty that does not fall under the financial counterparty banner, and is not a central counterparty (CCP) or a trade repository (TR).

A NFC can be further classified as an NFC+ which is an NFC which exceeds the clearing thresholds set out under EMIR.

A NFC may be exempt under EMIR from central clearing and collateral requirements, depending on the numbers of derivatives transactions they have outstanding.

See also

• Central counterparty
• Counterparty
• EMIR
• Financial
• Financial counterparty
• NFC+
• NFC-
• Non-financial corporate
• Trade repository