Are all special entities ECP?

An entity that is classified by the Commodity Exchange Act (CEA) based on its regulated status or amount of assets. Corporations, partnerships, proprietorships, organizations, trusts, or other entities with more than $10 million in assets, or any entity guaranteed by such entity. …

What is a qualified ECP?

Qualified ECP Guarantor means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify as an “eligible contract participant” at such time under Section 1a(18)(A)(v)( …

Do you have to be an ECP to trade futures?

Eligible Contract Participants No registration is required, but both parties must be ECPs and the transactions may not be executed or traded on a trading facility. CEA §2(h)(1). Exempt Commodity Swaps, Forwards, Options, etc. Rolling spot, FX options and similar transactions may be subject to these restrictions.

Is a state an ECP?

Governmental entities (including the US, a state or a foreign government). Brokers and dealers subject to regulation under the Securities Exchange Act of 1934 (Exchange Act) and similarly regulated foreign entities.

Are financial entities swap dealers?

A swap dealer (SD) is an entity that holds itself out as a dealer in swaps; makes a market in swaps; regularly enters into swaps with counterparties as an ordinary course of business for its own account; or engages in any activity causing the entity to be commonly known in the trade as a dealer or market maker in swaps …

Is a security based swap dealer an ECP?

Commission Regulations §§ 1.3(m)(1)-(4) provide that the ECP definition now includes swap dealers, security-based swap dealers, major swap participants and major security-based swap participants, as those terms are defined in the Page 6 Commodity Futures Trading Commission ♦ Office of Public Affairs ♦ 202-418-5080 CEA …

Who has to register with CFTC?

As set forth in CFTC Regulation 30.4, any domestic or foreign person engaged in activities like those of a futures commission merchant (FCM), introducing broker (IB), commodity pool operator (CPO), or commodity trading advisor (CTA) must register in the appropriate capacity or seek an exemption from registration under …

What does ECP stand for?

ECP

Acronym	Definition
ECP	Emergency Care Practitioner
ECP	Engineering Computer Program
ECP	Employee Concerns Program (human resources)
ECP	Eye Care Practitioner

What is a major swap participant under Dodd-Frank?

A Major Swap Participant is a person or entity that maintains a substantial net position in swaps, exclusive of hedging for commercial risk, or whose positions creates such significant exposure to others that it requires monitoring.

What does an eligible contract participant ( ECP ) mean?

An eligible contract participant (ECP) is a group or individual allowed to engage in financial transactions not open to retail customers.

Can a counterparty count the net worth of an ECP owner?

Counting the Net Worth of ECP Owners – CFTC Rule 1.3 (m) (7) allows a Borrower Counterparty to count the net worth of its owners, subject to several technical requirements. In particular, in determining its net worth, a Borrower Counterparty can count the net worth of its owners, as long as:

What makes a counterparty an ECP under CFTC rule 1.3?

CFTC Rule 1.3 (m) (7) Guarantee Conferred Entity ECP – A Borrower Counterparty can qualify as an ECP, if its obligations under the swap are guaranteed by an entity (the “Guarantor”) that is any one of the following:

How are ECPs defined in the Commodity Exchange Act?

The specific guidelines for ECPs are spelled out in Section 1a (18) of the Commodity Exchange Act. The Commodity Exchange Act outlines the qualifications for ECP eligibility (in Section 1a (18) of the CEA).