customer
(C)The term “customer” does not include any person, to the extent that— (i)the claim of such person arises out of transactions with a foreign subsidiary of a member of SIPC; or (ii)such person has a claim for cash or securities which by contract, agreement, or understanding, or by operation of law, is part of the capital of the debtor, or is subordinated to the claims of any or all creditors of the debtor, notwithstanding that some ground exists for declaring such contract, agreement, or understanding void or voidable in a suit between the claimant and the debtor.