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{{def|Financial instrument|/fɪˈnanʃ(ə)l ˈɪnstrʊm(ə)nt/|n|{{subtable|{{financial instruments}}}}}} | {{def|Financial instrument|/fɪˈnanʃ(ə)l ˈɪnstrʊm(ə)nt/|n|{{subtable|{{financial instruments}}}}}} | ||
Colloquially, a contract which creates some kind of liabilities between two parties. | Colloquially, a contract which creates some kind of liabilities between two parties. They can, but need not, be [[Transferable securities|transferable]] or [[negotiable]], but the main feature of a financial instrument — 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. | ||
===what ''isn’t'' a {{t|MiFID}} financial instrument=== | ===what ''isn’t'' a {{t|MiFID}} financial instrument=== | ||
A good place to look (if your interest level counts as “fiendish”) is the snappily titled ''Commission Delegated Regulation {{eureg|2017|565|EU}} of 25 April 2016 supplementing Directive {{eudirective|2014|65|EU}} of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive''. | A good place to look (if your interest level counts as “fiendish”) is the snappily titled ''Commission Delegated Regulation {{eureg|2017|565|EU}} of 25 April 2016 supplementing Directive {{eudirective|2014|65|EU}} of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive''. |