Requirement (MIFID)
Article 5 References to transaction
Requirements MIFID - REGULATION (EC) No 1287/2006
Description
Description
For the purposes of this Regulation, a reference to a transaction
is a reference only to the purchase and sale of a financial
instrument. For the purposes of this Regulation, other than
Chapter II, the purchase and sale of a financial instrument does
not include any of the following:
(a) securities financing transactions;
(b) the exercise of options or of covered warrants;
(c) primary market transactions (such as issuance, allotment or
subscription) in financial instruments falling within
Article 4(1)(18)(a) and (b) of Directive 2004/39/EC.