art_57__para_6

6. By way of derogation from Article 11, investment firms that were in existence before 25 December 2019 and that deal on own account on markets in financial futures or options or other derivatives and on cash markets for the sole purpose of hedging positions on derivatives markets or deal for the accounts of other members of those markets and are guaranteed by clearing members of the same markets, where responsibility for ensuring the performance of contracts entered into by such investment firms is assumed by clearing members of the same markets, may limit their own funds requirements for a period of five years from 26 June 2021 to at least EUR 250 000, subject to an annual increase of at least EUR 100 000 during the five‐year period. Irrespective of whether an investment firm referred to in this paragraph makes use of the derogation referred to in the first subparagraph, point (a) of paragraph 4 shall not apply to such an investment firm.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-09 · Text as adopted (Official Journal); later amendments are not incorporated in this text.