Article 26 Margin calculation with third-country counterparties

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:

1. (a)

   non-centrally cleared OTC derivatives subject to margin requirements under this Regulation;

2. (b)

   contracts that meet both of the following conditions:

   1. (i)

      they are identified as non-centrally cleared OTC derivatives by the regulatory regime applicable to the counterparty domiciled in the third country;

   2. (ii)

      they are subject to margin rules in the regulatory regime applicable to the counterparty domiciled in the third country.