Specifies whether a party to a swap is using an exception to a clearing requirement. In the US, one such clearing requirement is CFTC's rule pursuant to CEA Section 2(h)(1).
| Code | Meaning |
|---|---|
| 0 | No exception |
| 1 | Exception |
| 2 | End-user exception |
| 3 | Inter-affiliate exception |
| 4 | Treasury affiliate exception |
| 5 | Cooperative exception |