contract for differences

the investment, specified in article 85 of the Regulated Activities Order (Contracts for differences etc), which is 3rights under:

1. (a) a contract for differences; or
2. (b) any other contract the purpose or pretended purpose of which is to secure a profit or avoid a loss by reference to fluctuations in:
   1. (i) the value or price of property of any description; or
   2. (ii) an index or other factor designated for that purpose in the contract52; or52
3. (c) a derivative instrument for the transfer of credit risk to which article 85(3) of the Regulated Activities Order applies.52[Note: paragraph 8 of Section C of Annex 1 to MiFID]52