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  2. Point in time
    2011-07-19

ancillary service

36any of the services listed in Section B of Annex I to MiFID, that is:42

  1. (a) safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management;42
  2. (b) granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction;42
  3. (c) advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings;42
  4. (d) foreign exchange services where these are connected to the provision of investment services;42
  5. (e) investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments;42
  6. (f) services related to underwriting; and42
  7. (g) investment services and activities as well as ancillary services within (a) to (f), above, related to the underlying of the derivatives included under Section C - 5, 6, 7 and 10, that is (in accordance with that Annex and Recital 21 to, and Article 39 of, the MiFID Regulation):42
    1. (i) commodities;42
    2. (ii) climatic variables;42
    3. (iii) freight rates;42
    4. (iv) emission allowances;42
    5. (v) inflation rates or other official economic statistics;42
    6. (vi) telecommunications bandwidth;42
    7. (vii) commodity storage capacity;42
    8. (viii) transmission or transportation capacity relating to commodities, where cable, pipeline or other means;42
    9. (ix) an allowance, credit, permit, right or similar asset which is directly linked to the supply, distribution or consumption of energy derived from renewable resources;42
    10. (x) a geological, environmental or other physical variable;42
    11. (xi) any other asset or right of a fungible nature, other than a right to receive a service, that is capable of being transferred;42
    12. (xii) an index or measure related to the price or value of, or volume of transactions in any asset, right, service or obligation;42
    where these are connected to the provision of investment services or ancillary services.42

[Note: article 4(1)(3) of MiFID]42