{
  "url": "https://openlegislation.uk/eu-regulation-2018-1229/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2018-1229/article-1.json",
  "legislation": "eur/2018/1229",
  "legislation_title": "Commission Delegated Regulation (EU) 2018/1229 of 25 May 2018 supplementing Regulation (EU) No 909/2014 of the European Parliament and of the Council with regard to regulatory technical standards on settlement discipline (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2018-1229",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": "Definitions",
  "text": "For the purposes of this Regulation, the following definitions apply:\n(a) ‘clearing member’ means an undertaking as defined in point (14) of Article 2 of Regulation (EU) No 648/2012 of the European Parliament and of the Council;\n(b) ‘exchange-traded fund (ETF)’ means a fund as defined in point (46) of Article 4(1) of Directive 2014/65/EU of the European Parliament and of the Council;\n(c) ‘execution of orders’ means ‘execution of orders on behalf of clients’ as defined in point (5) of Article 4(1) of Directive 2014/65/EU;\n(d) ‘retail client’ means a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU;\n(e) ‘settlement instruction’ means a transfer order as defined in point (i) of Article 2 of Directive 98/26/EC of the European Parliament and of the Council;\n(f) ‘trading party’ means a party acting as principal in a securities transaction referred to in point (c) of the first subparagraph of Article 7(10) of Regulation (EU) No 909/2014;\n(g) ‘trading venue member’ means a member of, or a participant to, a trading venue.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Regulation (EU) No 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (OJ L 201, 27.7.2012, p. 1)."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349)."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Directive 98/26/EC of the European Parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (OJ L 166, 11.6.1998, p. 45)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2018/1229/article/1",
    "retrieved_at": "2026-11-01T14:43:58.393159+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}