# Article 26 — Margin calculation with third-country counterparties **Commission Delegated Regulation (EU) 2016/2251 · binding · OJ L 340, 15.12.2016 · dated 4 Oct 2016 [in force]** *In force · Consolidated version of 14 February 2023 · Checked against EUR-Lex on 20 Oct 2026 · [Official source](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02016R2251-20230214)* 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: **(a)** non-centrally cleared OTC derivatives subject to margin requirements under this Regulation; **(b)** contracts that meet both of the following conditions: **(i)** they are identified as non-centrally cleared OTC derivatives by the regulatory regime applicable to the counterparty domiciled in the third country; **(ii)** they are subject to margin rules in the regulatory regime applicable to the counterparty domiciled in the third country. **SECTION 2 — Exemptions in calculating levels of initial margin**