‘indirect client’ means the client of a client of a clearing member;

‘indirect clearing arrangements’ means the set of contractual relationships between providers and recipients of indirect clearing services provided by a client, an indirect client or a second indirect client;

‘confirmation’ means the documentation of the agreement of the counterparties to all the terms of an over the counter (OTC) derivative contract;

‘second indirect client’ means a client of an indirect client;

‘third indirect client’ means a client of a second indirect client.