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In this act Article 26 of 42

Article 26 — Margin calculation with third-country counterparties

Financial servicesLevel 2RTSEMIRIn forceOfficial source

Where a counterparty is domiciled in a third country, counterparties may calculate margins on the basis of a netting set that includes the following types of contracts:

26(a)
(a)non-centrally cleared OTC derivatives subject to margin requirements under this Regulation;
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26(b)
(b)contracts that meet both of the following conditions:
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26(b)(i)
(i)they are identified as non-centrally cleared OTC derivatives by the regulatory regime applicable to the counterparty domiciled in the third country;
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26(b)(ii)
(ii)they are subject to margin rules in the regulatory regime applicable to the counterparty domiciled in the third country.
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SECTION 2 — Exemptions in calculating levels of initial margin