2.—(1) In these Regulations—
“clearing participant” means a member of
LCH.Clearnet Limited who as such is permitted by the Rules of LCH.Clearnet Limited or
X-CLEAR who as such is permitted by the Rules of X-CLEAR or
European Multilateral Clearing Facility NV (EMCF) who as such is permitted by the Rules of EMCF to clear transactions made on the Facility for a traded security and who may or may not also be a participant in the Facility;
“client” means a person who gives instructions to a non-clearing firm for traded securities to be sold on the Facility;
“LCH.Clearnet Limited” is a company which is a recognised clearing house under the Financial Services and Markets Act 2000(1);
“X-CLEAR” means SIX X-CLEAR AG, a company which is a recognised clearing house under the Financial Services and Markets Act 2000(2)
“EMCF” means European Multilateral Clearing Facility NV, a company which is a recognised clearing house under the Financial Services and Markets Act 2000(3)
“the Facility” means the multilateral trading facility operated by BATS Trading Limited, a company which is authorised to operate a multilateral trading facility for the purposes of Part IV of the Financial Services and Markets Act 2000;
“nominee” means a person whose business is or includes holding traded securities as a nominee for LCH.Clearnet Limited or X-CLEAR or EMCF acting in its capacity as a person providing clearing services in connection with a transaction made on the Facility, or as a nominee for a clearing participant (as the case may be);
“non-clearing firm” means a participant in the Facility other than a clearing participant;
“traded securities” means stocks and shares which are issued or raised by a company but does not include stocks and shares issued by a company not incorporated in the United Kingdom unless—
the stocks and shares are registered in a register kept in the United Kingdom by or on behalf of the company; or
in the case of shares, they are paired, within the meaning of section 99(6A) of the Finance Act 1986(4), with shares issued by a company incorporated in the United Kingdom.
1986 c. 41. Subsections (3) to (6A) was amended by section 113(2) of the Finance Act 1990 (c.29). The whole of Part 4 of the 1986 Act is to be repealed from a date to be appointed (see sections 110 and 111(1) of the 1990 Act).