Article 1 Definitions

For the purposes of this Regulation the following definitions apply:

1. (a)

   ‘indirect client’ means the client of a client of a clearing member;

2. (b)

   F1‘ indirect clearing arrangements ’ means the set of contractual relationships between providers and recipients of indirect clearing services provided by a client, an indirect client or a second indirect client;

3. (c)

   ‘confirmation’ means the documentation of the agreement of the counterparties to all the terms of an over the counter (OTC) derivative contract;

4. (d)

   F2‘ second indirect client ’ means a client of an indirect client;

5. (e)

   ‘ third indirect client ’ means a client of a second indirect client.