CHAPTER I

SCOPE AND DEFINITIONS

Application
Article A1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Subject-matter and scope
Article 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Definitions
Article 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Conditions applying to the provision of information
Article 3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Provision of investment service in an incidental manner ...
Article 4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Wholesale energy products that must be physically settled ...
Article 5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Energy derivative contracts relating to oil and coal and wholesale energy products ...
Article 6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Other derivative financial instruments ...
Article 7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Derivatives under paragraph 10 of Part 1 of Schedule 2 to the Regulated Activities Order ...
Article 8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Investment advice ...
Article 9. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Characteristics of other derivative contracts relating to currencies
Article 10. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Money-market instruments ...
Article 11. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Systematic internalisers for shares, depositary receipts, ETFs, certificates and other similar financial instruments ...
Article 12. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Systematic internalisers for bonds ...
Article 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Systematic internalisers for structured finance products ...
Article 14. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Systematic internalisers for derivatives ...
Article 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Systematic internalisers for emission allowances ...
Article 16. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Transitional period: data for calculations
Article 16ZA. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Participation in matching arrangements
Article 16a . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Relevant assessment periods ...
Article 17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Algorithmic trading ...
Article 18. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

High frequency algorithmic trading technique ...
Article 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Direct electronic access ...
Article 20. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Regulation revoked (5.4.2024 for the revocation of Arts. 84-89, 23.10.2025 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), s. 86(3), Sch. 1 Pt. 3 (with s. 1(4)); S.I. 2023/1382, reg. 4(d)(i); S.I. 2025/1078, reg. 2(b) (with reg. 11)