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option

  1. 63
    1. the investment, specified in article 83 of the Regulated Activities Order (Options), which is in summary86 an option to acquire or dispose of:
      1. (a) a designated investment (other than a P2P agreement,68 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) and (4)89 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) and (4)89 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.