derivative
- (1) (other than in REC, MAR 5 and MAR 5A) a contract for differences, a future or an option (see also securitised derivative).
- (2) (in REC, MAR 5, MAR 5A, MAR 11 and COBS 12) those financial instruments defined in Article 2 (1)(24)(c) of MiFIR or referred to in paragraphs 4 to 10 of Part 1 of Schedule 2 to the Regulated Activities Order.
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