Clearing Connectivity Standard
Is an industry standard that helps improve OTC derivative reporting and communication
It's an acronym-filled business. Here's the run down.
Clearing Connectivity Standard
Is an industry standard that helps improve OTC derivative reporting and communication
Central Clearing Counterparty / Central Counterparty
Exchange established for cleared OTC derivatives margin, position and collateral statements.
Commodities Futures Trading Commission
An independent agency with the mandate to regulate commodity futures and option and swaps markets in the United States.
CFTC Interim Compliant Identifier
Legal entity identifier for entities transacting swaps under CFTC guidelines. Replaced by GMEI, see also LEI.
Credit Support Annex
bi-lateral agreement establishing terms of collateral posting between two derivative counterparties.
Designated Contract Market
boards of trade (or exchanges) that operate under the regulatory oversight of the CFTC, pursuant to Section 5 of the Commodity Exchange Act (CEA), 7 USC 7.
Derivatives Clearing Organization
CCP that is registered with the CFTC U.S. Commodity Futures Trading Commission.
The Depository Trust Company
a subsidiary of DTCC; provides securities movements for NSCC's net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments.
The Depository Trust & Clearing Corporation
through its subsidiaries, provides clearing, settlement and information services for over-the-counter derivatives.
Foreign Account Tax Compliance Act
requires non-U.S. foreign financial institutions (FFIs) and non-U.S. non-financial entities (NFFEs) to identify and disclose their U.S. account holders and members. Should they fail to do this, they will become subject to a new 30% U.S. withholding.
Futures Commission Merchant
An individual or firm who solicits or accepts orders to buy or sell futures contracts, options on futures, retail off-exchange forex contracts or swaps, on an exchange or through a clearinghouse.
Futures Industry Association
the primary industry organization for the centrally cleared futures and swaps markets.
Financial Industry Regulatory Authority
largest independent regulator for all securities firms doing business in the United States.
Financial Stability Board
established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability.
Global Financial Markets Association
international association representing the common interests of the world’s leading financial and capital markets participants, with SIFMA the North American member.
Global Markets Entity Identifier (formerly known as CICI)
DTCC's legal entity identifier solution offered in collaboration with SWIFT. See also LEI.
Global Trade Repository
an entity that centrally collects and maintains the records of over-the-counter (OTC) derivatives.
International Swaps and Derivatives Association
leading association for the over-the-counter derivatives industry.
International Organization for Standardization
an international standard-setting body.
Legal Entity Identifier
A unique ID associated with a single legal entity, LEI’s allow for consistent identification of parties to financial transactions, facilitating a consistent and integrated view of exposures, see also CICI or GMEI.
Legally segregated, operationally commingled
describes legal status in customer margin holdings for cleared transactions.
Local Operating Unit
local implementers of the global system offering local registration, validation, and maintenance of reference data.
National Futures Association
the self regulatory organization for the U.S. derivative industry, including on-exchange traded futures, retail off-exchange foreign currency and OTC derivatives.
Swaps Data Repository
entities mandated by the Dodd-Frank Act to provide a central facility for swap data reporting and record keeping.
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