Risk glossary

 

Financial instrument

The term used to define the products in scope of the European Union (EU)’s Markets in Financial Instruments Directive (MiFID). Under European law, the terms ‘derivative’ and ‘derivative financial instrument’ derive from the definition of financial instrument and ultimately are critical in determining the product scope of both the European Market Infrastructure Regulation (EMIR) and the Regulation on Wholesale Energy Market Integrity and Transparency (REMIT).

* see also  European Market Infrastructure Regulation (EMIR); Markets in Financial Instruments Directive (MiFID); Regulation on Wholesale Energy Market Integrity and Transparency (REMIT)

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