Status: You are viewing the version of the handbook as on 2012-12-13.

financial instrument

      1. 26(1) (other than in (2)28) instruments specified in Section C of Annex I of MiFID, that is:
        1. (a) transferable securities;
        1. (b) money-market instruments;
        1. (c) units in collective investment undertakings;
        1. (d) options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest rates or yields, or other derivative instruments, financial indices or financial measures which may be settled physically or in cash;
        1. (e) options, futures, swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event);
        1. (f) options, futures, swaps, and any other derivative contract relating to commodities that can be physically settled provided that they are traded on a regulated market and/or an MTF;
        1. (g) options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in (f) and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognised clearing houses or are subject to regular margin calls (see articles 38(1), (2) and (4) of the MiFID Regulation);
        1. (h) derivative instruments for the transfer of credit risk;
        1. (i) financial contracts for differences; and
        1. (j) options, futures, swaps, forward rate agreements and any other derivative contracts relating to
          1. (i) climatic variables;
          1. (ii) freight rates;
          1. (iii) emission allowances;
          1. (iv) inflation rates or other official economic statistics;
          1. (v) telecommunications bandwidth;
          1. (vi) commodity storage capacity;
          1. (vii) transmission or transportation capacity relating to commodities, whether cable, pipeline or other means;
          1. (viii) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;
          1. (ix) a geological, environmental or other physical variable;
          1. (x) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;
          1. (xi) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;
          where the conditions in Articles 38(3) and (4) of the MiFID Regulation are met.[Note: article 4(1)(17) and section C of Annex I to MiFID and articles 38 and 39 of the MiFID Regulation]
      1. (28228) (in MAR 1 and MAR 2, DTR 1, 2 and 3 and otherwise where used in relation to the Market Abuse Directive) (as defined in Article 5 of the Prescribed Markets and Qualifying Investments Order and Article 1(3) of the Market Abuse Directive, and which consequently carries the same meaning in the Buy-back and Stabilisation Regulation):
        1. (a) transferable securities as defined in the ISD;
        1. (b) units in collective investment undertakings;
        1. (c) money-market instruments;
        1. (d) financial-futures contracts, including equivalent cash-settled instruments;
        1. (e) forward interest-rate agreements;
        1. (f) interest-rate, currency and equity swaps;
        1. (g) options to acquire or dispose of any instrument falling into these categories, including equivalent cash-settled instruments. This category includes in particular options on currency and on interest rates;
        1. (h) derivatives on commodities; and
        1. (i) any other instrument admitted to trading on a regulated market in an EEA State or for which a request for admission to trading on such a market has been made.