Disclaimer Institutional Investors

The following Information is targeted at professional investors. If you are not a professional investor please refer to our Website for retail clients

Professional client is a client who possesses the experience, knowledge and expertise to make its own investment decisions and properly assess the risks that it incurs.

In order to be considered a professional client, the client must comply with the following criteria:
The following should all be regarded as professionals in all investment services and activities and financial instruments for the purposes of the Directive.

  • Credit institutions
  • Investment firms
  • Other authorised or regulated financial institutions
  • Insurance companies
  • Collective investment schemes and management companies of such schemes
  • Pension funds and management companies of such funds
  • Commodity and commodity derivatives dealers
  • Other institutional investors that comply with the following requirements:
    • Large undertakings meeting two of the following size requirements on a company basis:
      • balance sheet total: EUR 20 000 000,
      • net turnover: EUR 40 000 000,
      • own funds: EUR 2 000 000.
    • National and regional governments, public bodies that manage public debt, Central Banks, international and supranational institutions such as the World Bank, the IMF, the ECB, the EIB and other similar international organisations.

Clients other than those mentioned above, including public sector bodies and private individual investors, may also be regarded as professional clients if two of the following criteria are satisfied:

  • The size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500 000
  • The client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.
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