Resources Commonly Used Acronyms It’s an acronym-filled business. Here’s the run down. CCS Clearing Connectivity Standard Is an industry standard that helps improve OTC derivative reporting and communication CCP Central Clearing Counterparty / Central Counterparty Exchange established for cleared OTC derivatives margin, position and collateral statements. CFTC Commodities Futures Trading Commission An independent agency with the mandate to regulate commodity futures and option and swaps markets in the United States. CSA Credit Support Annex bi-lateral agreement establishing terms of collateral posting between two derivative counterparties. DCM Designated Contract Market boards of trade (or exchanges) that operate under the regulatory oversight of the CFTC, pursuant to Section 5 of the Commodity Exchange Act (CEA), 7 USC 7. DCO Derivatives Clearing Organization CCP that is registered with the CFTC U.S. Commodity Futures Trading Commission. DTC The Depository Trust Company a subsidiary of DTCC; provides securities movements for NSCC’s net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments. DTCC The Depository Trust & Clearing Corporation through its subsidiaries, provides clearing, settlement and information services for over-the-counter derivatives. FATCA Foreign Account Tax Compliance Act requires non-U.S. foreign financial institutions (FFIs) and non-U.S. non-financial entities (NFFEs) to identify and disclose their U.S. account holders and members. Should they fail to do this, they will become subject to a new 30% U.S. withholding. FCM Futures Commission Merchant An individual or firm who solicits or accepts orders to buy or sell futures contracts, options on futures, retail off-exchange forex contracts or swaps, on an exchange or through a clearinghouse. FIA Futures Industry Association the primary industry organization for the centrally cleared futures and swaps markets. FINRA Financial Industry Regulatory Authority largest independent regulator for all securities firms doing business in the United States. FSB Financial Stability Board established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability. GFMA Global Financial Markets Association international association representing the common interests of the world’s leading financial and capital markets participants, with SIFMA the North American member. GMEI Global Markets Entity Identifier (formerly known as CICI) DTCC’s legal entity identifier solution offered in collaboration with SWIFT. See also LEI. GTR Global Trade Repository an entity that centrally collects and maintains the records of over-the-counter (OTC) derivatives. ISDA International Swaps and Derivatives Association leading association for the over-the-counter derivatives industry. ISO International Organization for Standardization an international standard-setting body. LEI Legal Entity Identifier A unique ID associated with a single legal entity, LEI’s allow for consistent identification of parties to financial transactions, facilitating a consistent and integrated view of exposures, see also CICI or GMEI. LSOC Legally segregated, operationally commingled describes legal status in customer margin holdings for cleared transactions. LOU Local Operating Unit local implementers of the global system offering local registration, validation, and maintenance of reference data. NFA National Futures Association the self regulatory organization for the U.S. derivative industry, including on-exchange traded futures, retail off-exchange foreign currency and OTC derivatives. SDR Swaps Data Repository entities mandated by the Dodd-Frank Act to provide a central facility for swap data reporting and record keeping.
Clearing Connectivity Standard Is an industry standard that helps improve OTC derivative reporting and communication
Central Clearing Counterparty / Central Counterparty Exchange established for cleared OTC derivatives margin, position and collateral statements.
Commodities Futures Trading Commission An independent agency with the mandate to regulate commodity futures and option and swaps markets in the United States.
Credit Support Annex bi-lateral agreement establishing terms of collateral posting between two derivative counterparties.
Designated Contract Market boards of trade (or exchanges) that operate under the regulatory oversight of the CFTC, pursuant to Section 5 of the Commodity Exchange Act (CEA), 7 USC 7.
Derivatives Clearing Organization CCP that is registered with the CFTC U.S. Commodity Futures Trading Commission.
The Depository Trust Company a subsidiary of DTCC; provides securities movements for NSCC’s net settlements, and settlement for institutional trades (which typically involve money and securities transfers between custodian banks and broker/dealers), as well as money market instruments.
The Depository Trust & Clearing Corporation through its subsidiaries, provides clearing, settlement and information services for over-the-counter derivatives.
Foreign Account Tax Compliance Act requires non-U.S. foreign financial institutions (FFIs) and non-U.S. non-financial entities (NFFEs) to identify and disclose their U.S. account holders and members. Should they fail to do this, they will become subject to a new 30% U.S. withholding.
Futures Commission Merchant An individual or firm who solicits or accepts orders to buy or sell futures contracts, options on futures, retail off-exchange forex contracts or swaps, on an exchange or through a clearinghouse.
Futures Industry Association the primary industry organization for the centrally cleared futures and swaps markets.
Financial Industry Regulatory Authority largest independent regulator for all securities firms doing business in the United States.
Financial Stability Board established to coordinate at the international level the work of national financial authorities and international standard setting bodies and to develop and promote the implementation of effective regulatory, supervisory and other financial sector policies in the interest of financial stability.
Global Financial Markets Association international association representing the common interests of the world’s leading financial and capital markets participants, with SIFMA the North American member.
Global Markets Entity Identifier (formerly known as CICI) DTCC’s legal entity identifier solution offered in collaboration with SWIFT. See also LEI.
Global Trade Repository an entity that centrally collects and maintains the records of over-the-counter (OTC) derivatives.
International Swaps and Derivatives Association leading association for the over-the-counter derivatives industry.
Legal Entity Identifier A unique ID associated with a single legal entity, LEI’s allow for consistent identification of parties to financial transactions, facilitating a consistent and integrated view of exposures, see also CICI or GMEI.
Legally segregated, operationally commingled describes legal status in customer margin holdings for cleared transactions.
Local Operating Unit local implementers of the global system offering local registration, validation, and maintenance of reference data.
National Futures Association the self regulatory organization for the U.S. derivative industry, including on-exchange traded futures, retail off-exchange foreign currency and OTC derivatives.
Swaps Data Repository entities mandated by the Dodd-Frank Act to provide a central facility for swap data reporting and record keeping.
