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Financial instrument: Difference between revisions
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{{def|Financial instrument|/fɪˈnanʃ(ə)l ˈɪnstrʊm(ə)nt/|n|[[File:Stradivarius.jpg|450px|thumb|center|A self-referencing [[credit-linked note]], yesterday]]}} | {{def|Financial instrument|/fɪˈnanʃ(ə)l ˈɪnstrʊm(ə)nt/|n|[[File:Stradivarius.jpg|450px|thumb|center|A self-referencing [[credit-linked note]], yesterday]]}} | ||
Colloquially, a contract creating financial liabilities between two parties. It can, but need not, be [[negotiable]], but its main feature — its ''[[sine qua non]]'' — is that it cannot be [[Issuance|created]], [[paying agent|maintained]], [[investment manager|managed]], [[Custody|looked after]], [[Broker-dealer|transferred]], [[Securitisation|monetised]] or [[Redemption|redeemed]] — it cannot move or breathe, in other words — except through the agency of someone who will deduct a fee from the proceeds of your investment for the privilege. | Colloquially, a contract creating financial liabilities between two parties. It can, but need not, be [[negotiable]], but its main feature — its ''[[sine qua non]]'' — is that it cannot be [[Issuance|created]], [[paying agent|maintained]], [[investment manager|managed]], [[Custody|looked after]], [[Broker-dealer|transferred]], [[Securitisation|monetised]] or [[Redemption|redeemed]] — it cannot move or breathe, in other words — except through the [[Agency problem|agency]] of someone who will deduct a fee from the proceeds of your investment for the privilege. | ||
==MiFID== | ==MiFID== | ||
A whole world of [[tedium]] under [[MiFID II]]. Defined as follows — | A whole world of [[tedium]] under [[MiFID II]]. Defined as follows — | ||
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{{Bonds listed}} | {{Bonds listed}} | ||
{{sa}} | {{sa}} | ||
*[[Agency problem]] | |||
*[[Best execution]] | *[[Best execution]] | ||
*[[AIFMD]] and {{aifmdprov|financial instrument}} as used thereunder. | *[[AIFMD]] and {{aifmdprov|financial instrument}} as used thereunder. | ||