# Article 2 — Categories of counterparties **Commission Delegated Regulation (EU) 2016/1178 · binding · OJ L 195, 20.7.2016 · dated 10 Jun 2016 [in force]** *In force · Consolidated version of 14 February 2023 · Checked against EUR-Lex on 26 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R1178-20230214)* 1. For the purposes of Articles 3 and 4, the counterparties subject to the clearing obligation shall be divided in the following categories: **(a)** Category 1, comprising counterparties which, on the date of entry into force of this Regulation, are clearing members, within the meaning of [Article 2(14)](../../articles/2.md) of Regulation (EU) No 648/2012, for at least one of the classes of OTC derivatives set out in Annex I of this Regulation or in Annex I of Commission Delegated Regulation (EU) 2015/2205, of at least one of the CCPs authorised or recognised before that date to clear at least one of those classes; **(b)** Category 2, comprising counterparties not belonging to Category 1 which belong to a group whose aggregate month-end average of outstanding gross notional amount of non-centrally cleared derivatives for January, February and March 2016 is above EUR 8 billion and which are any of the following: **(i)** financial counterparties; **(ii)** alternative investment funds as defined in Article 4(1)(a) of Directive 2011/61/EU of the European Parliament and of the Council that are non-financial counterparties; **(c)** Category 3, comprising counterparties not belonging to Category 1 or Category 2 which are any of the following: **(i)** financial counterparties; **(ii)** alternative investment funds as defined in Article 4(1)(a) of Directive 2011/61/EU that are non-financial counterparties; **(d)** Category 4, comprising non-financial counterparties that do not belong to Category 1, Category 2 or Category 3. 2. For the purposes of calculating the group aggregate month-end average of outstanding gross notional amount referred to in point (b) of paragraph 1, all of the group's non-centrally cleared derivatives, including foreign exchange forwards, swaps and currency swaps, shall be included. 3. Where counterparties are alternative investment funds as defined in Article 4(1)(a) of Directive 2011/61/EU or undertakings for collective investment in transferable securities as defined in Article 1(2) of Directive 2009/65/EC of the European Parliament and of the Council, the EUR 8 billion threshold referred to in point (b) of paragraph 1 of this Article shall apply individually at fund level.