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option

  1. 63
    1. (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.
    3. (2) (in COLL) in addition and to the extent it does not fall within (1), an investment which would have been within the definition of “option” in the FCA Handbook immediately before IP completion day102.96