§ 23.608 - Restrictions on counterparty clearing relationships.

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No swap dealer or major swap participant entering into a swap to be submitted for clearing with a counterparty that is a customer of a futures commission merchant shall enter into an arrangement that:

Discloses to the futures commission merchant or any swap dealer or major swap participant the identity of a customer's original executing counterparty;

Limits the number of counterparties with whom a customer may enter into a trade;

Restricts the size of the position a customer may take with any individual counterparty, apart from an overall limit for all positions held by the customer with the swap dealer or major swap participant;

Impairs a customer's access to execution of a trade on terms that have a reasonable relationship to the best terms available; or

Prevents compliance with the timeframes set forth in § 1.74(b), § 23.610(b), or § 39.12(b)(7) of this chapter.