ISDA have just issued this standard framework for counterparties to notify each other of clearing status. It is to be used either by “NFC-‘s” to notify of that fact, or by others to notify of the clearing category when in mandatory clearing.  A guidance note may be found here.

At present, most energy and commodity traders are “NFC-“, i.e. non financial counterparties under the clearing threshold. However, many such companies may soon find themselves as Financial Counterparties (FC) because of loss of exemption under MiFID II. If this happens mandatory clearing will apply.