Skip to main content
Version status: Amended | Document consolidation status: Updated to reflect all known changes
Version date: 24 December 2024 - onwards
Version 6 of 6

Article 4 Clearing obligation

1. Counterparties shall clear all OTC derivative contracts pertaining to a class of OTC derivatives that has been declared subject to the clearing obligation in accordance with Article 5(2), if those contracts fulfil both of the following conditions:

(a) they have been concluded in one of the following ways:

(i) between two financial counterparties that meet the conditions set out in the second subparagraph of Article 4a(1);

(ii) between a financial counterparty that meets the conditions set out in the second subparagraph of Article 4a(1) and a non-financial counterparty that meets the conditions set out in the second subparagraph of Article 10(1);

(iii) between two non-financial counterparties that meet the conditions set out in the second subparagraph of Article 10(1);