NFC Plus definition

NFC Plus or "NFC+" means a counterparty, which is not a Financial Counterparty and which meets the conditions of Article 10(1)(b) of EMIR;
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Examples of NFC Plus in a sentence

  • However, in considering whether you are an NFC Plus, you will also need to check the thresholds for other derivative asset classes held by your group.

  • In broad terms, whether or not you are characterised as a NFC Plus will depend on the volume or type of the total outstanding positions in OTC derivatives you and other non-financial entities your group hold, excluding those OTC derivative positions held for hedging purposes.

  • If you or your group exceed any of the thresholds for any asset class you will be an NFC Plus for the purposes of this Ebury Markets Agreement.

  • In accordance with Clause 18.12, as at the date of this Ebury Markets Agreement, if you are an NFC Plus or a Financial Counterparty that is not an Institution we do not propose at the present time to apply the EMIR Variation Margin or EMIR Initial Margin to Trades we enter into with you.

  • Note: This Clause 18 will only apply to you where you are a Financial Counterparty or an NFC Plus under EMIR.