Info
🔗 Back to Summary. 🇫🇷 French Version: 2022R1302_FR.2. Back to Summary of LVL1. Open the PDF. Direct link to EUR-LEX.
Article 1 – Subject matter ⬅️ | ➡️ Article 3 – Aggregation and netting of positions in a commodity derivative
Article 2 - Definitions
For the purposes of this Regulation, the following definitions shall apply:
(1)
‘financial entity’ means any of the following:
(a)
an investment firm authorised in accordance with Directive 2014/65/EU;
(b)
a credit institution authorised in accordance with Directive 2013/36/EU of the European Parliament and of the Council
;
(c)
an insurance undertaking as defined in Article 13, point (1), of Directive 2009/138/EC of the European Parliament and of the Council
;
(d)
a reinsurance undertaking as defined in Article 13, point (4), of Directive 2009/138/EC;
(e)
an undertaking for collective investment in transferable securities (UCITS) and, where relevant, its management company, authorised in accordance with Directive 2009/65/EC of the European Parliament and of the Council
;
(f)
an institution for occupational retirement provision within the meaning of Article 6, point (1), of Directive (EU) 2016/2341 of the European Parliament and of the Council
;
(g)
an alternative investment fund managed by managers of alternative investment funds (AIFMs) authorised or registered in accordance with Directive 2011/61/EU of the European Parliament and of the Council
;
(h)
a central counterparty (CCP) authorised in accordance with Regulation (EU) No 648/2012 of the European Parliament and of the Council
;
(i)
a central securities depositary authorised in accordance with Regulation (EU) No 909/2014 of the European Parliament and of the Council
;
(2)
‘non-financial entity’ means a legal or natural person other than a financial entity;
(3)
‘spot month contract’ means the commodity derivative contract in relation to a particular underlying commodity whose maturity is the next to expire in accordance with the rules set by the trading venue;
(4)
‘other months’ contract’ means any commodity derivative contract that is not a spot month contract;
(5)
‘lot’ means the unit of trading used by the trading venue on which the commodity derivative trades representing a standardised quantity of the underlying commodity.
A third-country entity shall be considered a financial entity where its authorisation would be required under any of the legal acts of the Union referred to in point (1) of the first paragraph if that entity was based in the Union and subject to Union law.
A third-country entity shall be considered a non-financial entity where its authorisation would not be required under any of the legal acts of the Union referred to in point (1) of the first subparagraph if that entity was based in the Union and subject to Union law.