Activity

Services and investment activities:

– receiving and transmitting orders regarding one or more financial instruments;

– execution of orders on behalf of clients;

– portfolio management;

– investment consulting;

– placing financial instruments without a firm commitment.

Auxiliary services:

– safekeeping and administration of financial instruments on behalf of clients, including custody and auxiliary services and cash/collateral management and excluding the provision and administration of securities accounts at the highest level. The provision and administration of securities accounts at the highest level is the ‘centralised administration service’ referred to in point 2 of Section A of the Annex to Regulation (EU) No 909/2014;

– advice to companies on capital structure, industrial strategy and related issues; advice and services on mergers and acquisitions;

– foreign exchange services where these services are related to the provision of investment services;

– investment research and financial analysis or any other form of general advice on transactions in financial instruments;

– investment services and activities as well as auxiliary services relating to the underlying assets of derivatives described below, where they are related to the provision of investment services or auxiliary services:

• options, futures, swaps, forwards and any other derivative contracts relating to commodities which must be settled in cash or may be settled in cash at the request of one of the parties, other than in the event of a default or other termination event);
• options, futures, swaps, forwards and any other derivative contract relating to commodities that can be settled by physical delivery, provided they are traded on a regulated market, an MTS or an OST, with the exception of wholesale energy products traded on an OST which must be settled by physical delivery;
• options, futures, swaps, forwards and any other derivative contracts relating to commodities which can be settled by physical delivery, which have not been otherwise provided for in the above category and which have no commercial purpose, and which have the characteristics of other derivatives;
• options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates or rates of inflation or other official economic statistics which are to be settled in cash or may be settled in cash at the request of one of the parties, other than in the event of a default or other termination event, and any other derivative contracts relating to assets, rights, obligations, indices and indicators not otherwise provided for in this Section, which have the characteristics of other derivative financial instruments taking into account whether, in particular, they are traded on a regulated market, an OST or an MTS.

Secondary activities:

– Other lending activities

– Activities of insurance agents and brokers