12 CFR 234.2 - Definitions.
As used in this part:
(a) Central counterparty means an entity that interposes itself between the counterparties to trades, acting as the buyer to every seller and the seller to every buyer.
(b) Central securities depository means an entity that holds securities in custody to enable securities transactions to be processed by means of book entries or an entity that enables securities to be transferred and settled by book entry either free of or against payment.
(c) Designated financial market utility means a financial market utility (as defined in paragraph (d) of this section) that the Financial Stability Oversight Council has designated under section 804 of the Dodd-Frank Act (12 U.S.C. 5463).
(d) Financial market utility has the same meaning as the term defined in section 803(6) of the Dodd-Frank Act (12 U.S.C. 5462(6)).
(e) Payment system means a set of payment instructions, procedures, and rules for the transfer of funds among system participants.
(f) Supervisory Agency has the same meaning as the term is defined in section 803(8) of the Dodd-Frank Act (12 U.S.C. 5462(8)).
Title 12 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 12 CFR Part 234.