MiFID - Markets in Financial Instruments Directive

MiFID is a commonly used abbreviation for the Markets in Financial Instruments Directive. Markets in Financial Instruments Directive is one of a number of European Union Directives that are being introduced to harmonise laws and regulations in a single market for investment and financial services across all countries in the European Economic Area (the "EEA").

This Directive was to be implemented in legislation of all EU member states with effect from 1 November 2007. However, in the Czech Republic the Directive came into force with amendment to the Capital Market Act, Act No. 256/2004 Coll., with effect from 1 December 2008.

It is unlikely that the way we deal with your investments will change substantially. As many of MiFID's requirements reinforce Best Execution Policy principles, this is consistent with our ongoing commitment to providing a high quality of customer service. However, there will be some changes that you may notice and these are explained below.

Under this Directive, there are two categories of clients:

  • Retail Clients (higher level of investor's protection)
  • Professional Clients (standard level of investor's protection)

Information for Retail Clients

Current list of investment services provided by HSBC Bank plc - Prague branch

  • Receiving and giving instructions concerning investment instruments;
  • Execution of instructions relating to investment instruments on account of the customer;
  • Trading with investment instruments on its own account;
  • Underwriting, or placement of investment instruments with an option to their underwriting;
  • Placement of investment instruments without an obligation to underwrite them;
  • Custodianship and administration of investment instruments including associated services;
  • Execution of currency transactions associated with the provision of investment services;
  • Services associated with underwriting, or placement of investment instruments;
  • A service similar to the investment service, which relates to a property value, towards which the investment instrument value is related (such as options, futures, swaps, forwards pursuant to Section 3, subsection 1, letter g) to k) of the Act No. 256/2004 Coll., on capital market business, as amended), and which is associated with the provision of the investment services;
  • Investment service of receiving and giving instructions related to investment instruments including also mediation of investment instruments trading.
  • The investment service of custodianship and administration of investment instruments including associated services includes also keeping of registration following up to the central registration of securities, keeping of independent registration of investment instruments, or keeping of registration following up to independent registration of investment instruments.

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