eligible counterparty business
39the following services and activities carried on by a firm:
- (a) dealing on own account, execution of orders on behalf of clients or reception and transmission of orders; or
- (b) any ancillary service directly related to a service or activity referred to in (a); or46
- (c) arranging in relation to business which is not MiFID or equivalent third country firm business;46
but only to the extent that the service or activity is carried on with or for an eligible counterparty.