inter-professional investment

any of the following investments specified in Part III of the Regulated Activities Order (Specified investments) or, in the case of units in an exchange traded fund, defined in the Glossary44:

1. (a) share (article 76);
2. (b) debenture (article 77);
3. (c) government and public security (article 78);
4. (d) warrant (article 79);
5. (e) certificate representing certain securities (article 80);
6. (f) option (article 83); for the purposes of the permission regime, this is sub-divided into:
   1. (i) option (excluding a commodity option and an option on a commodity future);
   2. (ii) commodity option and option on a commodity future;
7. (g) future (article 84); for the purposes of the permission regime, this is sub-divided into:
   1. (i) future (excluding a commodity future and a rolling spot forex contract);
   2. (ii) commodity future;
   3. (iii) rolling spot forex contract;
8. (h) contract for differences (article 85); for the purposes of the permission regime, this is sub-divided into:
   1. (i) contract for differences (excluding a spread bet and a rolling spot forex contract);
   2. (ii) spread bet;
   3. (iii) rolling spot forex contract;
9. (i) rights to or interests in investments in (a) to (h) (article 89)544;44
10. (j) units in an exchange traded fund.44