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Dealing on own account: Difference between revisions
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*that main business is not providing banking or [[investment services]], or acting as a [[market-maker]] in [[commodity derivatives]] | *that main business is not providing banking or [[investment services]], or acting as a [[market-maker]] in [[commodity derivatives]] | ||
*they are not using high-frequency trading algorithms; [[and]] | *they are not using high-frequency trading algorithms; [[and]] | ||
* | *when asked, explain to their competent authority how consider their activity to be “ancillary to their main business”;}} | ||
Ok we are getting somewhere, but — ah: there is this gnomic question of what counts as “ancillary to one’s main business”. Fear not: Article 2 also addresses that, but punts it off to ESMA to come up with some regulatory technical standards governing it. This has been recently updated and you can find the latest — as of June 2022 — [https://eur-lex.europa.eu/legal-content/en/TXT/?uri=CELEX%3A32021R1833 here]. | Ok we are getting somewhere, but — ah: there is this gnomic question of what counts as “ancillary to one’s main business”. Fear not: Article 2 also addresses that, but punts it off to ESMA to come up with some regulatory technical standards governing it. This has been recently updated and you can find the latest — as of June 2022 — [https://eur-lex.europa.eu/legal-content/en/TXT/?uri=CELEX%3A32021R1833 here]. | ||