AI Summary of Annex I Lists of services and activities and financial instruments
Section A lists nine investment services and activities: reception and transmission of orders; execution of orders on behalf of clients; dealing on own account; portfolio management; investment advice; underwriting and/or placing on a firm‑commitment basis; placing without a firm commitment; operation of a multilateral trading facility (MTF); and operation of an organised trading facility (OTF). Section B lists ancillary services: safekeeping and administration of client financial instruments (custodianship and related services, excluding central maintenance service); granting credits or loans to investors involved in transactions; advice on capital structure and mergers and acquisitions; foreign exchange services where connected to investment services; investment research and financial analysis; services related to underwriting; and ancillary services connected to specified derivatives in Section C.
Section C enumerates financial instruments: transferable securities; money‑market instruments; units in collective investment undertakings; derivatives relating to securities, currencies, interest rates, emission allowances, indices or other financial measures; cash‑settled commodity derivatives; physically‑settled commodity derivatives traded on a regulated market, MTF or OTF (excluding wholesale energy on OTFs); non‑commercial physically‑settled commodity derivatives with financial characteristics; credit‑risk transfer derivatives; financial contracts for differences; derivatives relating to climatic variables, freight rates, inflation or other official statistics; and emission allowances recognised for compliance with Directive 2003/87/EC. Section D points (1)–(3) are deleted.
Annex I Lists of services and activities and financial instruments
Section A Investment services and activities
(1) Reception and transmission of orders in relation to one or more financial instruments;
(2) Execution of orders on behalf of clients;
(3) Dealing on own account;
(4) Portfolio management;
(5) Investment advice;
(6) Underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis;
(7) Placing of financial instruments without a firm commitment basis;
(1) Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management and excluding providing and maintaining securities accounts at the top tier level ('central maintenance service') referred to in point (2) of Section A of the Annex to the Regulation (EU) No 909/2014;