investment services or activities

51any of the services and activities listed in Section A of Annex I to MiFID relating to any financial instrument, that is:57

1. (a) reception and transmission of orders in relation to one or more financial instruments;57
2. (b) execution of orders on behalf of clients;57
3. (c) dealing on own account;57
4. (d) portfolio management;57
5. (e) the making of a personal recommendation;57
6. (f) underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis;57
7. (g) placing of financial instruments without a firm commitment basis;57
8. (h) operation of 57an MTF; and150
9. (i) operation of an OTF.150

[Note: article 4(1)(2) of, and section A of Annex 1 to, MiFID and article 6(5) of the auction regulation106]57