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those classes of financial instruments which are normally dealt in on the money market, such as treasury bills, certificates of deposit and commercial papers and excluding instruments of payment.[Note: article 4(1)(19) of MiFID]
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an activity in respect of a transaction:(a) which involves any of the following investments and is not regulated by the rules of a recognised investment exchange:(i) a debenture which is issued on terms requiring repayment not later than five years from the date of issue;(ii) any government and public security which is issued on terms requiring repayment not later than one year or, if issued by a local authority in the United Kingdom, five years from the date of issue; or(b) which involves any of the following investments and is not made on a recognised investment exchange or expressed to be so made:(i) a certificate representing certain securities or rights to or interests in investments relating, in either case, to an investment within (a)(i) or (a)(ii);(ii) an option relating to:(A) an instrument in (a)(i) or (a)(ii); or(B) currency of the United Kingdom or of any other country or territory; or(C) gold or silver;(iii) a future for the sale of:(A) an instrument in (a)(i) or (a)(ii); or(B) currency of the United Kingdom or of any other country or territory; or(C) gold or silver;(iv) a contract for differences by reference to fluctuations in:(A) the value or price of any instrument within any of (a)(i) to (a)(iii) or (b)(i) to (b)(iii); or(B) currency of the United Kingdom or of any other country or territory; or(C) the rate of interest on loans in any such currency or any index of such rates; or(v) an option to acquire or dispose of an instrument within (b)(ii), (b)(iii) or (b)(iv); or(c) where one of the parties agrees to sell or transfer a debenture or government and public security and by the same or a collateral agreement that party agrees, or acquires an option, to buy back or re-acquire that investment or an equivalent amount of a similar investment within twelve months of the sale or transfer.For the purposes of (c) investments are regarded as similar if they entitle their holders to the same rights against the same persons as to capital and interest and the same remedies for the enforcement of those rights.
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an authorised fund dedicated to:(a) deposits; andwhether with or without securities which are transferable securities.
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(1) any of the following investments:(a) a debenture which is issued on terms requiring repayment not later than five years from the date of issue;(b) any government and public security which is issued on terms requiring repayment not later than one year or, if issued by a local authority in the United Kingdom , five years from the date of issue;(d) a certificate representing certain securities or rights to or interests in investments relating, in either case, to an investment within (a) or (b);(e) an option relating to:(i) an instrument in (a) or (b); or(ii) currency of the United Kingdom or of any other country or territory; or(iii) gold or silver;(f) a future for the sale of:(i) an instrument in (a) or (b); or(ii) currency of the United Kingdom or of any other country or territory; or(iii) gold or silver;(g) a contract for differences by reference to fluctuations in:(i) the value or price of any instrument within any of (a) to (f); or(ii) currency of the United Kingdom or of any other country or territory; or(iii) the rate of interest on loans in any such currency or any index of such rates;(h) an option to acquire or dispose of an instrument within (e), (f) or (g).(2) those classes of financial instruments which are normally dealt in on the money market, such as treasury bills, certificates of deposit and commercial papers and excluding instruments of payment.[Note: article 4(1)(19) of MiFID]
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a person who manages and/or operates the business of a regulated market. The market operator may be the regulated market itself.[Note: article 4(1)(13) of MiFID]
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a person who carries on money service business other than a firm , a BCD credit institution or a financial institution.
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any act which:(a) constitutes an offence under section 18 (Money laundering) of the Terrorism Act 2000; or(b) constitutes an offence under section 327 (Concealing etc), section 328 (Arrangements) or section 329 (Acquisition, use and possession) of the Proceeds of Crime Act 2002; or(c) constitutes an attempt, conspiracy or incitement to commit an offence specified in paragraph (b); or(d) constitutes aiding, abetting, counselling or procuring the commission of an offence specified in paragraph (b); or(e) would constitute an offence specified in paragraph (b), (c), or (d) if done in the United Kingdom.
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any form of money, including cheques and other payable orders.
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the regime established under the provisions of Part VIII of the Act (Penalties for market abuse).
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carrying on by way of business the activity of:(a) operating a bureau de change; or(b) transmitting money, or any representation of monetary value, by any means; or(c) cashing cheques which are made payable to customers.
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(in relation to a firm) the risks that arise from fluctuations in values of, or income from, assets or in interest or exchange rates.
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the market value as determined in accordance with generally accepted accounting practice.
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the behaviour described in section 118(8) of the Act which satisfies the condition in section 118(8)(a) and is behaviour (not falling within sections 118(5), (6) or (7)) which:(a) is likely to give a regular user of the market a false or misleading impression as to the supply of, demand for or price or value of, qualifying investments, and(b) is likely to be regarded by a regular user of the market as a failure on the part of the person concerned to observe the standard of behaviour reasonably expected of a person in his position in relation to the market.
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the behaviour described in section 118(5) of the Act, which is behaviour effecting transactions or orders to trade (otherwise than for legitimate reasons and in conformity with accepted market practices on the relevant market) which:(a) give, or are likely to give a false or misleading impression as to the supply of, or demand for, or as to the price, one or more qualifying investments; or(b) secure the price of one or more such investments at an abnormal or artificial level.
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the part of the capital resources requirement of a BIPRU firm in respect of market risk, calculated in accordance with GENPRU 2.1.52R (Calculation of the market risk capital requirement).
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(1) (except in COBS) (in relation to an investment) a person who (otherwise than in his capacity as the operator of a regulated collective investment scheme) holds himself out as able and willing to enter into transactions of sale and purchase in investments of that description at prices determined by him generally and continuously rather than in respect of each particular transaction.(2) (in COBS) a person who holds himself out on the financial markets on a continuous basis as being willing to deal on own account by buying and selling financial instruments against his proprietary capital at prices defined by him.[Note: article 4 (1)(8) of MiFID]
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(for the purposes only of COBS TP 1 (Transitional Provisions in relation to Client Categorisation));(1) (except in COB 3) a client who is:(a) a properly constituted government (including a quasi-governmental body or a government agency) of any country or territory;(b) a central bank or other national monetary authority of any country or territory;(c) a supranational whose members are either countries or central banks or national monetary authorities;(d) a State investment body, or a body charged with, or intervening in, the management of the public debt;(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);(f) any associate of a firm (except an OPS firm), or of an overseas financial services institution, if the firm or institution consents;(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);(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:(A) a regulated collective investment scheme; and(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).
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(in accordance with section 118 of the Act (Market abuse)) behaviour (whether by one person alone or by two or more persons jointly or in concert) which:(a) occurs in relation to qualifying investments traded or admitted to trading on a prescribed market or in respect of which a request for admission to trading on such a market has been made; and