Section 242.900 - DefinitionsTerms used in §§ 242.900 through 242.909 that appear in Section 3 of the Exchange Act (15 U.S.C. 78c ) have the same meaning as in Section 3 of the Exchange Act and the rules or regulations thereunder. In addition, for purposes of Regulation SBSR (§§ 242.900 through 242.909 ), the following definitions shall apply:
(a)Affiliate means any person that, directly or indirectly, controls, is controlled by, or is under common control with, a person.(b)Asset class means those security-based swaps in a particular broad category, including, but not limited to, credit derivatives and equity derivatives.(d)Branch ID means the UIC assigned to a branch or other unincorporated office of a participant.(e)Broker ID means the UIC assigned to a person acting as a broker for a participant.(f)Business day means a day, based on U.S. Eastern Time, other than a Saturday, Sunday, or a U.S. federal holiday.(g)Clearing transaction means a security-based swap that has a registered clearing agency as a direct counterparty.(h)Control means, for purposes of §§ 242.900 through 242.909 , the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. A person is presumed to control another person if the person:(1) Is a director, general partner or officer exercising executive responsibility (or having similar status or functions);(2) Directly or indirectly has the right to vote 25 percent or more of a class of voting securities or has the power to sell or direct the sale of 25 percent or more of a class of voting securities; or(3) In the case of a partnership, has the right to receive, upon dissolution, or has contributed, 25 percent or more of the capital.(i)Counterparty means a person that is a direct counterparty or indirect counterparty of a security-based swap.(j)Counterparty ID means the UIC assigned to a counterparty to a security-based swap.(k)Direct counterparty means a person that is a primary obligor on a security-based swap.(l)Direct electronic access has the same meaning as in § 240.13n-4(a)(5) of this chapter.(m)Exchange Act means the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.), as amended.(n)Execution agent ID means the UIC assigned to any person other than a broker or trader that facilitates the execution of a security-based swap on behalf of a direct counterparty.(o)Foreign branch has the same meaning as in § 240.3a 71-3(a)(1) of this chapter.(p)Indirect counterparty means a guarantor of a direct counterparty's performance of any obligation under a security-based swap such that the direct counterparty on the other side can exercise rights of recourse against the indirect counterparty in connection with the security-based swap; for these purposes a direct counterparty has rights of recourse against a guarantor on the other side if the direct counterparty has a conditional or unconditional legally enforceable right, in whole or in part, to receive payments from, or otherwise collect from, the guarantor in connection with the security-based swap.(q)Life cycle event means, with respect to a security-based swap, any event that would result in a change in the information reported to a registered security-based swap data repository under § 242.901(c), (d) , or (i), including: An assignment or novation of the security-based swap; a partial or full termination of the security-based swap; a change in the cash flows originally reported; for a security-based swap that is not a clearing transaction, any change to the title or date of any master agreement, collateral agreement, margin agreement, or any other agreement incorporated by reference into the security-based swap contract; or a corporate action affecting a security or securities on which the security-based swap is based (e.g., a merger, dividend, stock split, or bankruptcy). Notwithstanding the above, a life cycle event shall not include the scheduled expiration of the security-based swap, a previously described and anticipated interest rate adjustment (such as a quarterly interest rate adjustment), or other event that does not result in any change to the contractual terms of the security-based swap.(r)Non-mandatory report means any information provided to a registered security-based swap data repository by or on behalf of a counterparty other than as required by §§ 242.900 through 242.909 .(s)Non-U.S. person means a person that is not a U.S. person.(t)Parent means a legal person that controls a participant.(u)Participant, with respect to a registered security-based swap data repository, means: (1) A counterparty, that meets the criteria of § 242.908(b) , of a security-based swap that is reported to that registered security-based swap data repository to satisfy an obligation under § 242.901(a) ;(2) A platform that reports a security-based swap to that registered security-based swap data repository to satisfy an obligation under § 242.901(a) ;(3) A registered clearing agency that is required to report to that registered security-based swap data repository whether or not it has accepted a security-based swap for clearing pursuant to § 242.901(e)(1)(ii) ; or(4) A registered broker-dealer (including a registered security-based swap execution facility) that is required to report a security-based swap to that registered security-based swap data repository by § 242.901(a) .(v)Platform means a national securities exchange or security-based swap execution facility that is registered or exempt from registration.(w)Platform ID means the UIC assigned to a platform on which a security-based swap is executed.(x)Post-trade processor means any person that provides affirmation, confirmation, matching, reporting, or clearing services for a security-based swap transaction.(y)Pre-enactment security-based swap means any security-based swap executed before July 21, 2010 (the date of enactment of the Dodd-Frank Act (Pub. L. 111-203 , H.R. 4173)), the terms of which had not expired as of that date.(z)Price means the price of a security-based swap transaction, expressed in terms of the commercial conventions used in that asset class.(aa)Product means a group of security-based swap contracts each having the same material economic terms except those relating to price and size.(bb)Product ID means the UIC assigned to a product.(cc)Publicly disseminate means to make available through the Internet or other electronic data feed that is widely accessible and in machine-readable electronic format.(ee)Registered clearing agency means a person that is registered with the Commission as a clearing agency pursuant to section 17A of the Exchange Act (15 U.S.C. 78q-1 ) and any rules or regulations thereunder.(ff)Registered security-based swap data repository means a person that is registered with the Commission as a security-based swap data repository pursuant to section 13(n) of the Exchange Act (15 U.S.C. 78m(n) ) and any rules or regulations thereunder.(gg)Reporting side means the side of a security-based swap identified by § 242.901(a)(2) .(hh)Side means a direct counterparty and any guarantor of that direct counterparty's performance who meets the definition of indirect counterparty in connection with the security-based swap.(ii)Time of execution means the point at which the counterparties to a security-based swap become irrevocably bound under applicable law.(jj)Trader ID means the UIC assigned to a natural person who executes one or more security-based swaps on behalf of a direct counterparty.(kk)Trading desk means, with respect to a counterparty, the smallest discrete unit of organization of the participant that purchases or sells security-based swaps for the account of the participant or an affiliate thereof.(ll)Trading desk ID means the UIC assigned to the trading desk of a participant.(mm)Transaction ID means the UIC assigned to a specific security-based swap transaction.(nn)Transitional security-based swap means a security-based swap executed on or after July 21, 2010, and before the first date on which trade-by-trade reporting of security-based swaps in that asset class to a registered security-based swap data repository is required pursuant to §§ 242.900 through 242.909 .(oo)Ultimate parent means a legal person that controls a participant and that itself has no parent.(pp)Ultimate parent ID means the UIC assigned to an ultimate parent of a participant.(qq)Unique Identification Code or UIC means a unique identification code assigned to a person, unit of a person, product, or transaction.(rr)United States has the same meaning as in § 240.3a 71-3(a)(5) of this chapter.(ss)U.S. person has the same meaning as in § 240.3a 71-3(a)(4) of this chapter.(tt)Widely accessible, as used in paragraph (cc) of this section, means widely available to users of the information on a non-fee basis.80 FR 14728, Mar. 19, 2015, as amended at 81 FR 53653, Aug. 12, 2016