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+Article 7 3. |
Article 7 3.For the purposes of Section C(10) of Annex I to Directive 2004/39/EC of the European Parliament and of the Council ( 6 ), a derivative contract relating to an underlying referred to in that Section or in Article 8 of this Regulation shall be considered to have the characteristics of other derivative financial instruments where one of the following conditions is satisfied:
(a)
it is settled in cash or may be settled in cash at the option of one or more of the parties, otherwise than by reason of a default or other termination event;
(b)
it is traded on a regulated market, an MTF, an OTF, or a third country trading venue that performs a similar function to a regulated market, MTF or an OTF;
(c)
the conditions laid down in paragraph 1 are satisfied in relation to that contract. 1. Overview
1.1 References1.2 Identified Requirements1.3 Related Standards2. Identified Requirements
3. Related Standards
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