Financial end user definition
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. “Material swaps exposure” means that an entity and its margin affiliates have an average daily aggregate notional amount of uncleared swaps with all counterparties for June, July, and August of the preceding calendar year that exceeds $8 billion dollars. 17 C.F.R. § 23.151.