NFC(+/-)

A Non-financial Counterparty. In accordance with the classification of derivatives counterparties under EMIR, an NFC includes any counterparty that is not a Financial Counterparty and that is established in the European Union. An NFC+ is an NFC that trades a total volume of OTC derivatives which exceeds EMIR’s clearing threshold determination test. An NFC- is an NFC which does not exceed the clearing threshold test.