“Operating an organised trading facility25DA.

(1)

The operation of an organised trading facility on which non-equity MiFID instruments are traded is a specified kind of activity.

(2)

In paragraph (1) a “non-equity MiFID instrument” means any investment—

(a)

of the kind specified by article 77, 77A, 78, 79, 80, 81, 82B, 83, 84 or 85; or

(b)

of the kind specified by article 89 so far as relevant to an investment falling within sub-paragraph (a),

that is a bond, a structured finance product (within the meaning of Article 2.1.28 of the markets in financial instruments regulation10), an emission allowance, or a derivative (within the meaning of Article 2.1.29 of the markets in financial instruments regulation).”.