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Template:MiFID 2 RTS Art 5: Difference between revisions
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(1) For the purposes of point (b) of the fifth subparagraph of Article [[2(4) - MiFID 2 Provision|2(4)]] of Directive [[MiFID 2|2014/65/EU]], a transaction in derivatives shall be considered [[objectively measurable as reducing risks]] directly relating to the commercial activity or treasury financing activity when one or more of the following criteria is met: | {{mifid2prov|RTS 5}}(1) For the purposes of point (b) of the fifth subparagraph of Article [[2(4) - MiFID 2 Provision|2(4)]] of Directive [[MiFID 2|2014/65/EU]], a transaction in derivatives shall be considered [[objectively measurable as reducing risks]] directly relating to the commercial activity or treasury financing activity when one or more of the following criteria is met: | ||
(a) the transaction reduces the risks arising from the potential change in the value of assets, services, inputs, products, commodities or liabilities that the person or its group owns, produces, manufactures, processes, provides, purchases, merchandises, leases, sells, or incurs or reasonably anticipates owning, producing, manufacturing, processing, providing, purchasing, merchandising, leasing, selling or incurring in the normal course of its business; | (a) the transaction reduces the risks arising from the potential change in the value of assets, services, inputs, products, commodities or liabilities that the person or its group owns, produces, manufactures, processes, provides, purchases, merchandises, leases, sells, or incurs or reasonably anticipates owning, producing, manufacturing, processing, providing, purchasing, merchandising, leasing, selling or incurring in the normal course of its business; | ||