In this Part—

• “financial instrument” has the meaning given in Article 4.1.17 of the markets in financial instruments directive;

• “institution” means—

  1. a

     a recognised investment exchange, other than an overseas investment exchange (within the meaning of Part 18);

  2. b

     an investment firm;

  3. c

     a credit institution authorised under the banking consolidation directive, when carrying on investment services and activities; or

  4. d

     an institution which would satisfy the requirements for authorisation as a credit institution under that directive if it had its registered office (or if it does not have a registered office, its head office) in an EEA State,

  but does not include an EEA firm qualifying for authorisation under Schedule 3;

• “issuer”, in relation to a financial instrument, means the person who issued the instrument;

• “multilateral trading facility” has the meaning given in Article 4.1.15 of the markets in financial instruments directive;

• “regulated market” has the meaning given in Article 4.1.14 of the markets in financial instruments directive.