Executing/Clearing an OTC interest rate swap OR, IF PARTY A IS NOT A MEMBER OF THE CCP BUT PARTY B IS A CLEARING MEMBER: THE ORIGINAL OTC TRADE Fixed Rate Party A ISDA Master Agreement + Schedule (+CSA?) Party B (Buyer) (Seller) Floating Rate BECOMES CLEARED AS FOLLOWS Fixed Rate Fixed Rate Fixed Rate Party A FIA ToBs + Clearing CCP Rulebook CCP CCP Rulebook Party B (Buyer) Clearing Module Broker (Seller) Floating Rate Floating Rate Floating Rate UNRESTRICTED 49