ancillary services undertaking — an undertaking, the principal activity of which consists of owning or managing property, managing data‐processing services, or a similar activity which is ancillary to the principal activity of one or more investment firms (1)

ASA — the value of assets that an investment firm safeguards and administers for clients, irrespective of whether assets appear on the investment firm’s own balance sheet or are in third‐party accounts (29)

asset management company — borrowed from another act; this instrument states no meaning of its own (2)

AUM — the value of assets that an investment firm manages for its clients under both discretionary portfolio management and nondiscretionary arrangements constituting investment advice of an ongoing nature (27)

cash assimilated instrument — a certificate of deposit, a bond, including a covered bond, or any other non‐subordinated instrument, which has been issued by an institution or an investment firm, for which the institution or investment firm has already received full payment and which is to be unconditionally reimbursed by the institution or investment firm at its nominal value ‘(60)

clearing member — an undertaking established in a Member State which fulfils the definition in point (14) of Article 2 of Regulation (EU) No 648/2012 of the European Parliament and of the Council (17) (3)

client — a client as defined in point (9) of Article 4(1) of Directive 2014/65/EU except that, for the purposes of Part Four of this Regulation (4)

CMG — the amount of total margin required by a clearing member or qualifying central counterparty, where the execution and settlement of transactions of an investment firm dealing on own account take place under the responsibility of a clearing member or qualifying central counterparty (32)

CMH — the amount of client money that an investment firm holds, taking into account the legal arrangements in relation to asset segregation and irrespective of the national accounting regime applicable to client money held by the investment firm (28)

CMV — the net market value of the portfolio of transactions or securities legs subject to netting in accordance with Article 31, where both positive and negative market values are used in computing CMV (36)

COH — the value of orders that an investment firm handles for clients, through the reception and transmission of client orders and through the execution of orders on behalf of clients (30)

commodity and emission allowance dealer — borrowed from another act; this instrument states no meaning of its own (5)

commodity and emission allowance dealer — an undertaking the main business of which consists exclusively of the provision of investment services or activities in relation to commodity derivatives or commodity derivative contracts referred to in points (5), (6), (7), (9) and (10), derivatives of emission allowances referred to in point (4), or emission allowances referred to in point (11) of Section C of Annex I to Directive 2014/65/EU ‘(150)

commodity derivatives — borrowed from another act; this instrument states no meaning of its own (6)

competent authority — borrowed from another act; this instrument states no meaning of its own (7)

CON — the exposures in the trading book of an investment firm to a client or a group of connected clients the value of which exceeds the limits in Article 37(1) (31)

consolidated basis — on the basis of the consolidated situation (12)

consolidated situation — the situation that results from applying the requirements of this Regulation in accordance with Article 7 to a Union parent investment firm, Union parent investment holding company or Union parent mixed financial holding company as if that undertaking formed, together with all the investment firms, financial institutions, ancillary services undertakings and tied agents in the investment firm group, a single investment firm; for the purpose of this definition, the terms ‘investment firm’, ‘financial institution’, ‘ancillary services undertaking’ and ‘tied agent’ shall also apply to undertakings established in third countries, which, were they established in the Union, would fulfil the definitions of those terms (11)

credit institution — borrowed from another act; this instrument states no meaning of its own (8)

credit institution — an undertaking the business of which consists of any of the following: to take deposits or other repayable funds from the public and to grant credits for its own account; to carry out any of the activities referred to in points (3) and (6) of Section A of Annex I to Directive 2014/65/EU of the European Parliament and of the Council (*5), where one of the following applies, but the undertaking is not a commodity and emission allowance dealer, a collective investment undertaking or an insurance undertaking: for the purposes of points (b)(ii) and (b)(iii), where the undertaking is part of a third‐country group, the total assets of each branch of the third‐country group authorised in the Union shall be included in the combined total value of the assets of all undertakings in the group; the total value of the consolidated assets of the undertaking is equal to or exceeds EUR 30 billion; the total value of the assets of the undertaking is less than EUR 30 billion, and the undertaking is part of a group in which the total value of the consolidated assets of all undertakings in that group that individually have total assets of less than EUR 30 billion and that carry out any of the… ‘(1)

dealing on own account — borrowed from another act; this instrument states no meaning of its own (9)

derivatives — borrowed from another act; this instrument states no meaning of its own (10)

DTF — the daily value of transactions that an investment firm enters through dealing on own account or the execution of orders on behalf of clients in its own name, excluding the value of orders that an investment firm handles for clients through the reception and transmission of client orders and through the execution of orders on behalf of clients which are already taken into account in the scope of client orders handled (33)

EU parent investment firm — an EU parent undertaking that is an investment firm ‘(29b)

execution of orders on behalf of clients — borrowed from another act; this instrument states no meaning of its own (13)

financial holding company — borrowed from another act; this instrument states no meaning of its own (16)

financial institution — an undertaking other than a credit institution or investment firm, and other than a pure industrial holding company, the principal activity of which is to acquire holdings or to pursue one or more of the activities listed in points (2) to (12) and point (15) of Annex I to Directive 2013/36/EU, including a financial holding company, a mixed financial holding company, an investment holding company, a payment institution within the meaning of Directive (EU) 2015/2366 of the European Parliament and of the Council (18), and an asset management company, but excluding insurance holding companies and mixed‐activity insurance holding companies as defined in point (g) of Article 212(1) of Directive 2009/138/EC of the European Parliament and of the Council (19) (14)

financial institution — an undertaking other than an institution and other than a pure industrial holding company, the principal activity of which is to acquire holdings or to pursue one or more of the activities listed in points 2 to 12 and point 15 of Annex I to Directive 2013/36/EU, including an investment firm, a financial holding company, a mixed financial holding company, an investment holding company, a payment institution within the meaning of Directive (EU) 2015/2366 of the European Parliament and of the Council (*6), and an asset management company, but excluding insurance holding companies and mixed‐activity insurance holding companies as defined in points (f) and (g) of Article 212(1) of Directive 2009/138/EC ‘(26)

financial instrument — borrowed from another act; this instrument states no meaning of its own (15)

financial sector entity — borrowed from another act; this instrument states no meaning of its own (17)

group of connected clients — borrowed from another act; this instrument states no meaning of its own (19)

initial capital — borrowed from another act; this instrument states no meaning of its own (18)

initial capital — the amounts and types of own funds specified in Article 12 of Directive 2013/36/EU ‘(51)

institution — a credit institution authorised under Article 8 of Directive 2013/36/EU or an undertaking as referred to in Article 8a(3) thereof ‘(3)

investment advice — borrowed from another act; this instrument states no meaning of its own (20)

investment advice of an ongoing nature — the recurring provision of investment advice as well as the continuous or periodic assessment and monitoring or review of a client portfolio of financial instruments, including of the investments undertaken by the client on the basis of a contractual arrangement (21)

investment firm — borrowed from another act; this instrument states no meaning of its own (22)

investment firm — an investment firm as defined in point (1) of Article 4(1) of Directive 2014/65/EU which is authorised under that Directive but excludes credit institutions ‘(2)

investment firm group — a group of undertakings which consists of a parent undertaking and its subsidiaries or of undertakings which meet the conditions set out in Article 22 of Directive 2013/34/EU of the European Parliament and of the Council (20), of which at least one is an investment firm and which does not include a credit institution (25)

investment holding company — a financial institution, the subsidiaries of which are exclusively or mainly investment firms or financial institutions, at least one of such subsidiaries being an investment firm, and which is not a financial holding company as defined in point (20) of Article 4(1) of Regulation (EU) No 575/2013 (23)

investment services and activities — borrowed from another act; this instrument states no meaning of its own (24)

K‐factors — own funds requirements set out in Title II of Part Three for risks that an investment firm poses to clients, markets and to itself (26)

long settlement transactions — borrowed from another act; this instrument states no meaning of its own (37)

management body — borrowed from another act; this instrument states no meaning of its own (39)

margin lending transaction — borrowed from another act; this instrument states no meaning of its own (38)

mixed financial holding company — borrowed from another act; this instrument states no meaning of its own (40)

NPR — the value of transactions recorded in the trading book of an investment firm (34)

off‐balance‐sheet item — any of the items referred to in Annex I to Regulation (EU) No 575/2013 (41)

own funds instruments — own funds as defined in Article 9 of this Regulation, without applying the deductions referred to in point (i) of Article 36(1), point (d) of Article 56, and point (d) of Article 66 of Regulation (EU) No 575/2013 (a)

parent investment firm in a Member State — a parent undertaking in a Member State that is an investment firm ‘(29a)

parent undertaking — a parent undertaking within the meaning of point (9) of Article 2 and Article 22 of Directive 2013/34/EU (42)

participation — borrowed from another act; this instrument states no meaning of its own (43)

portfolio management — borrowed from another act; this instrument states no meaning of its own (46)

positions held with trading intent — any of the following: proprietary positions and positions arising from client servicing and market making; positions intended to be resold in the short term; positions intended to benefit from actual or expected short‐term price differences between buying and selling prices or from other price or interest rate variations (55)

profit — borrowed from another act; this instrument states no meaning of its own (44)

QCCP — borrowed from another act; this instrument states no meaning of its own (45)

qualifying central counterparty — borrowed from another act; this instrument states no meaning of its own (45)

qualifying holding — borrowed from another act; this instrument states no meaning of its own (47)

repurchase transaction — borrowed from another act; this instrument states no meaning of its own (50)

securities financing transaction — borrowed from another act; this instrument states no meaning of its own (48)

SFT — borrowed from another act; this instrument states no meaning of its own (48)

subsidiary — a subsidiary undertaking as defined in point (10) of Article 2 and within the meaning of Article 22 of Directive 2013/34/EU, including any subsidiary of a subsidiary undertaking of an ultimate parent undertaking (51)

TCD — the exposures in the trading book of an investment firm in instruments and transactions referred to in Article 25 giving rise to the risk of trading counterparty default (35)

tied agent — borrowed from another act; this instrument states no meaning of its own (52)

total gross revenue — the annual operating income of an investment firm, in connection with the investment firm’s investment services and activities it is authorised to perform, including income stemming from interest receivable, from shares and other securities whether fixed yield or variable, from commission and fees, any gain and losses that the investment firm incurs on its trading assets, on assets held at fair value, or from hedging activities, but excluding any income which is not linked to the investment services and activities performed (53)

trading book — all positions in financial instruments and commodities held by an investment firm, either with trading intent or in order to hedge positions held with trading intent (54)

Union parent investment firm — an investment firm in a Member State which is part of an investment firm group and which has an investment firm or a financial institution as a subsidiary or which holds a participation in such an investment firm or financial institution, and which is not itself a subsidiary of another investment firm authorised in any Member State, or of an investment holding company or mixed financial holding company set up in any Member State (56)

Union parent investment holding company — an investment holding company in a Member State which is part of an investment firm group and which is not itself a subsidiary of an investment firm authorised in any Member State or of another investment holding company in any Member State (57)

Union parent mixed financial holding company — a parent undertaking of an investment firm group which is a mixed financial holding company as defined in point (15) of Article 2 of Directive 2002/87/EC (58)