EFTA Document EFTA01368432

8. GLOSSARY "Active Fund" means a Private Fund that (i) is not a Third-Party Subaccount and (ii) has executed 200 or more swaps per month on average over the 12 months preceding November I, 2012. For purposes of clause (ii) of this definition, "swaps" shall mean swaps as defined by the CFTC for purposes of the implementation schedules under Parts 23 and 50 of the CFTC Regulations and shall exclude, without limitation, foreign exchange swaps and foreign exchange forwards exempted from regula