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A whole world of [[tedium]] under [[MiFID II]]. Defined, as “those instruments specified in Section C of Annex I” which are as follows — | A whole world of [[tedium]] under [[MiFID II]]. Defined, as “those instruments specified in Section C of Annex I” which are as follows — | ||
{{quote|{{financial instruments}}}} | {{quote|{{financial instruments}}}} | ||
===Derivatives, transferable securities, securitised derivatives, structured finance products...=== | ===“[[Derivatives]]”, “[[transferable securities]]”, “[[securitised derivatives]]”, “[[structured finance products]]”...=== | ||
Step this way for a one-way trip down an open manhole. The definitions aren’t “disjunctive”: something that is a [[transferable security]] can also be a [[money market instrument]], a unit in [[collective investment scheme]]. Alas, a “[[derivative]]”, in MiFID speak, is restricted to those countenanced in sections 4-10, but that may not be the end of the matter: | Step this way for a one-way trip down an open manhole. The definitions aren’t “disjunctive”: something that is a [[transferable security]] can also be a [[money market instrument]], a unit in [[collective investment scheme]]. Alas, a “[[derivative]]”, in MiFID speak, is restricted to those countenanced in sections 4-10, but that may not be the end of the matter: | ||