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Persons exempt under points (a), (i) or (j) of MiFID II Article {{mifid2prov|2(1)}} are not required to meet the conditions laid down in this point in order to be exempt.}} | Persons exempt under points (a), (i) or (j) of MiFID II Article {{mifid2prov|2(1)}} are not required to meet the conditions laid down in this point in order to be exempt.}} | ||
{{subtable|{{mifid2prov|2(1)(j)}} persons: | {{subtable|{{mifid2prov|2(1)(j)}} persons: | ||
:(i) dealing on own account, including market makers, in commodity derivatives or emission allowances or derivatives thereof, excluding persons who deal on own account when executing client orders; or | :(i) dealing on own account, including market makers, in [[commodity derivatives]] or [[emission allowances]] or derivatives thereof, excluding persons who deal on own account when executing client orders; or | ||
:(ii) providing [[investment services]], other than dealing on own account, in commodity derivatives or emission allowances or derivatives thereof to the customers or suppliers of their main business; | :(ii) providing [[investment services]], other than dealing on own account, in [[commodity derivatives]] or emission allowances or derivatives thereof to the customers or suppliers of their main business; | ||
provided that: | provided that: | ||
: | :— for each of those cases individually and on an aggregate basis, the activity is ancillary to their main business, when considered on a group basis, | ||
: | :— those persons are not part of a group the main business of which is the provision of investment services within the meaning of this Directive, the performance of any activity listed in Annex I to Directive 2013/36/EU, or acting as a market maker for commodity derivatives, | ||
: | :— those persons do not apply a high-frequency algorithmic trading technique, and | ||
:— those persons report upon request to the competent authority the basis on which they have assessed that their activity under points (i) and (ii) is ancillary to their main business}} | |||
{{subtable|'''The [[de minimis threshold test]]''' <ref>Art 2(1)(a) of MiFID 2 RTS 20 at https://eur-lex.europa.eu/legal-content/en/TXT/?uri=CELEX%3A32021R1833</ref><br> | {{subtable|'''The [[de minimis threshold test]]''' <ref>Art 2(1)(a) of MiFID 2 RTS 20 at https://eur-lex.europa.eu/legal-content/en/TXT/?uri=CELEX%3A32021R1833</ref><br> | ||
2(1). The activities of persons referred to in Article 1 shall be considered to be ancillary to the main business at group level where they comply with any of the following conditions: | 2(1). The activities of persons referred to in Article 1 shall be considered to be ancillary to the main business at group level where they comply with any of the following conditions: |