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In this act Article 3 of 17

Article 3 — Meaning of execution of a transaction

Financial servicesLevel 2RTSMiFIRIn forceOfficial source

3(1)

1.An investment firm shall be deemed to have executed a transaction within the meaning of Article 2, where it provides any of the following services or performs any of the following activities that result in a transaction:

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3(1)(a)
(a)reception and transmission of orders in relation to one or more financial instruments;
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3(1)(b)
(b)execution of orders on behalf of clients;
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3(1)(c)
(c)dealing on own account;
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3(1)(d)
(d)making an investment decision in accordance with a discretionary mandate given by a client;
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3(1)(e)
(e)transfer of financial instruments to or from accounts.
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3(2)

2.An investment firm shall not be deemed to have executed a transaction where it has transmitted an order in accordance with Article 4.

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