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contract for differences

    the investment, specified in article 85 of the Regulated Activities Order (Contracts for differences etc), which is 3in summary 69rights under:

      1. (a) a contract for differences; or
      1. (b) any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in:
        1. (i) the value or price of property of any description; or
        1. (ii) an index or other factor designated for that purpose in the contract52; or52
      1. (c) a derivative instrument for the transfer of credit risk to which article 85(3) of the Regulated Activities Order applies.52[Note: paragraph 8 of Section C of Annex 1 to MiFID]52