This Regulation applies to trading in wholesale energy products. It is without prejudice to the application of Regulations (EU) No 648/2012 (
1
), (EU) No 596/2014 (
2
) and (EU) No 600/2014 (
3
) of the European Parliament and of the Council and of Directive 2014/65/EU of the European Parliament and of the Council (
4
) as regards activities involving financial instruments as defined in Article 4(1), point (15), of Directive 2014/65/EU, as well as to the application of Union competition law to the practices covered by this Regulation.