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{{a|mifid2|{{subtable|{{mifid2prov|4(1)(6)}} “[[dealing on own account]]” means trading against proprietary capital resulting in the conclusion of transactions in one or more [[financial instruments]];<ref>https://www.esma.europa.eu/databases-library/interactive-single-rulebook/directive-201465eu-european/article-4-0</ref> | {{a|mifid2|{{subtable|{{mifid2prov|4(1)(6)}} “[[dealing on own account]]” means trading against proprietary capital resulting in the conclusion of transactions in one or more [[financial instruments]];<ref>https://www.esma.europa.eu/databases-library/interactive-single-rulebook/directive-201465eu-european/article-4-0</ref> | ||
}} | }} | ||
{{subtable|{{mifid2prov|2(1)(d)}} Persons dealing on own account in [[financial instrument]]s ''other than [[commodity derivative]]s or [[emission allowance]]s or derivatives thereof'' and not providing any other [[Investment | {{subtable|{{mifid2prov|2(1)(d)}} Persons dealing on own account in [[financial instrument]]s ''other than [[commodity derivative]]s or [[emission allowance]]s or derivatives thereof'' and not providing any other [[Investment services and activities|investment services]] or performing any other investment activities in financial instruments ''other than commodity derivatives or emission allowances or derivatives thereof'' unless such persons: | ||
:(i) are [[Market maker|market makers]]; | :(i) are [[Market maker|market makers]]; | ||
:(ii) are members of or [[Regulated market|participants in a regulated market]] or an [[MTF]], on the one hand, or have direct electronic access to a trading venue, on the other hand, except for non-financial entities who execute transactions on a trading venue which are objectively measurable as reducing risks directly relating to the commercial activity or treasury financing activity of those non-financial entities or their groups; | :(ii) are members of or [[Regulated market|participants in a regulated market]] or an [[MTF]], on the one hand, or have direct electronic access to a trading venue, on the other hand, except for non-financial entities who execute transactions on a trading venue which are objectively measurable as reducing risks directly relating to the commercial activity or treasury financing activity of those non-financial entities or their groups; |