The main objective to centrally clear certain classes of OTC derivatives is to reduce counterparty and systemic risks. The central clearing obligation applies to financial counterparties that exceed the clearing threshold (FC’s+) and non-financial counterparties that exceed the clearing threshold (NFC’s+). The central clearing obligation also applies to parties that are established outside of the European Economic Area (EEA), in case the central obligation would have applied to them if they had been established in the EEA.