securities financing transaction

(1) (in COBS, other than in relation to MiFID, equivalent third country or optional exemption business) an instance of stock lending or stock borrowing or the lending or borrowing of other financial instruments, a repurchase or reverse repurchase transaction, or a buy-sell back or sell-buy back transaction.

(1A) (in COBS (in relation to MiFID, equivalent third country or optional exemption business) COLL, DEPP, FEES and FUND) a transaction defined in article 3(11) of the Securities Financing Transactions Regulation as follows:

1. (a) a repurchase transaction, as defined in article 3(9) of that regulation;
2. (b) securities or commodities lending and securities or commodities borrowing as defined in article 3(7) of that regulation;
3. (c) a buy-sell back transaction or sell-buy back transaction as defined in article 3(8) of that regulation; and
4. (d) a margin lending transaction as defined in article 3(10) of that regulation.

(1B) (in CASS and MIFIDPRU) a securities financing transaction as defined in article 3(11) of the SFTR. [Note: article 1(3) of the MiFID Delegated Directive]

(2) (in any other case) any of the following:

1. (a) a repurchase transaction; or
2. (b) a securities or commodities lending or borrowing transaction; or
3. (c) a margin lending transaction.