Common use of CLIENT CATEGORISATION UNDER XXXXX XX Clause in Contracts

CLIENT CATEGORISATION UNDER XXXXX XX. 28.1. As per MiFID II the Company’s clients shall be categorized/classified in three (3) categories intended to reflect both client’s level of knowledge and experience in the financial markets and their ability to understand and take on the risks arising from their investment decisions, in order to adopt protective measures to the particularities of each category of investor. In compliance with such requirements imposed under XxXXX XX, we categorize/classify our clients in the following three (3) categories: a) Eligible Counterpart(y)ies (“ECP(s)”): a category that includes: (a) per se eligible counterparties (i.e., entities automatically treated as eligible counterparties), such as investment firms, credit institutions, insurance companies, undertakings for the collective investment of transferable securities (“UCITS”), pension funds and national governments, as well as, (b) entities that may be treated as eligible counterparties with their consent, such as large undertakings (that meet specified size tests) and clients who may be treated as ECPs in accordance with the prescribed opt-up criteria; recognition by the MiFID II Member State in which they are established is required for the latter entities to be treated as ‘ECP’; for this type of customer XxXXX XX provides for a basic level of protection since these are entities that by their very nature must operate directly and frequently in the financial markets;

CLIENT CATEGORISATION UNDER XXXXX XX. ‌ 28.1. As per MiFID II the Company’s clients shall be categorized/classified in three (3) categories intended to reflect both client’s level of knowledge and experience in the financial markets and their ability to understand and take on the risks arising from their investment decisions, in order to adopt protective measures to the particularities of each category of investor. In compliance with such requirements imposed under XxXXX XX, we categorize/classify our clients in the following three (3) categories: a) Eligible Counterpart(y)ies (“ECP(s)”): a category that includes: (a) per se eligible counterparties (i.e., entities automatically treated as eligible counterparties), such as investment firms, credit institutions, insurance companies, undertakings for the collective investment of transferable securities (“UCITS”), pension funds and national governments, as well as, (b) entities that may be treated as eligible counterparties with their consent, such as large undertakings (that meet specified size tests) and clients who may be treated as ECPs in accordance with the prescribed opt-up criteria; recognition by the MiFID II Member State in which they are established is required for the latter entities to be treated as ‘ECP’; for this type of customer XxXXX XX provides for a basic level of protection since these are entities that by their very nature must operate directly and frequently in the financial markets;