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option

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1. the investment, specified in article 83 of the Regulated Activities Order (Options), which is an option to acquire or dispose of:
  1. (a) a designated investment (other than an option or one to which (d) or (e) applies); or
  2. (b) currency of the United Kingdom or of any other country or territory; or
  3. (c) palladium, platinum, gold or silver; or
  4. (d) a commodity to which article 83(2) of the Regulated Activities Order applies; or
  5. (e) a financial instrument in paragraph 10 of Section C of Annex 1 to MiFID to which article 83(3) of the Regulated Activities Order applies; or
  6. (f) an option to acquire or dispose of an option specified in (a), (b), (c), (d) or (e);
2. but so that for the purposes of calculating capital requirements for BIPRU firms it also includes any of the items listed in the table in BIPRU 7.6.18 R (Option PRR: methods for different types of option) and any cash settled option.