Status: You are viewing the version of the handbook as on 2009-03-31.

market counterparty

    (for the purposes only of COBS TP 1 (Transitional Provisions in relation to Client Categorisation));

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      1. (1) (except in COB 3) a client who is:
        1. (a) a properly constituted government (including a quasi-governmental body or a government agency) of any country or territory;
        1. (b) a central bank or other national monetary authority of any country or territory;
        1. (c) a supranational whose members are either countries or central banks or national monetary authorities;
        1. (d) a State investment body, or a body charged with, or intervening in, the management of the public debt;
        1. (e) another firm, or an overseas financial services institution, except in relation to designated investment business, and related ancillary activities, conducted with or for that firm or institution, when that firm or institution is an intermediate customer in accordance with COB 4.1.7 R (Classification of another firm or an overseas financial services institution);
        1. (f) any associate of a firm (except an OPS firm), or of an overseas financial services institution, if the firm or institution consents;
        1. (g) a client when he is classified as a market counterparty in accordance with COB 4.1.12 R (Large intermediate customer classified as a market counterparty);
        1. (h) a recognised investment exchange, designated investment exchange, regulated market or clearing house when it is classified as a market counterparty in accordance with COB 4.1.8A R (Classification of an exchange or clearing house);
        but excluding:
        1. (A) a regulated collective investment scheme; and
        1. (B) (except for the purposes of DISP) a client, who would otherwise be a market counterparty, when he is classified as a private customer in accordance with COB 4.1.14 R (Client classified as private customer).
      1. (2) (in COB 3) a person in (1) and a person who would be such a person if he were a client.1853