Glossary
- Ancillary Services/ Activities
- Approved Publication Authority (APA)
- Approved Reporting Mechanism (ARM)
- Direct Electronic Access (DEA)
- European Economic Area (EEA)
- Economically Equivalent to OTC (EEOTC)
- ESMA
- Execution venue
- Financial Counterparties (FC)
- High-frequency Algorithmic Trading (HFAT)
- Investment Services
- Legal Entity Identifier (LEI)
- MiFID II Investment (IF)
- Multilateral Trading Facilities (MTF)
- National Competent Authority (NCA)
- Non-Financial Counterparties (NFC)
- Organised Trading Facility (OTF)
- Packaged Retail and Insurance-based Investment Products (PRIIPS)
- Regulated market (RM)
- Systematic Internaliser (SI)
Ancillary Services/ Activities
Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management and, after 1st of January 2018, excluding maintaining securities accounts at the top tier level; Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loan is involved in the transaction; Advice to undertakings on capital structure, industrial strategy and related matters and advice and services relating to mergers and the purchase of undertakings; Foreign exchange services where these are connected to the provision of investment services; Investment research and financial analysis or other forms of general recommendation relating to transactions in financial instruments; Services related to underwriting, Investment services and activities comparable to investment and ancillary services, relating to the underlying element of derivatives, of which the list is set by order, where they are connected to the provision of investment or ancillary services.
Approved Publication Authority (APA)
A person authorized by the relevant national regulator to provide the services of publishing trade reports or firm quotes on behalf of investment firms or SI.
Approved Reporting Mechanism (ARM)
A person authorized to provide the service of reporting details of transactions to domestic competent authorities on behalf of IFs.
Direct Electronic Access (DEA)
An arrangement where a member or participant or client of a trading venue permits a person to use its trading code so the person can electronically transmit orders relating to a financial instrument directly to the trading venue and includes arrangements which involve the use by a person of the infrastructure of the member or participant or client, or any connecting system provided by the member or participant or client, to transmit the orders (direct market access) and arrangements where such an infrastructure is not used by a person (sponsored access).
European Economic Area (EEA)
It comprises the 28 members of the European Union and 3 members countries of the European Free Trade Association.
Economically Equivalent to OTC (EEOTC)
Transactions having the same characteristics as listed commodities except the date and quantity.
Execution venue
It includes Trading Venues, Systematic Internaliser (SI), Market Maker (MM) or other Liquidity Provider (LP).
Financial Counterparties (FC)
EMIR Classification used to define parties to derivatives contracts. An FC is a European bank, investment firm, insurance undertaking, assurance undertaking, reinsurance undertaking, a UCITS fund, an institution for occupational retirement provision, or an alternative investment fund managed by an authorized alternative investment fund manager. Any third country entity that would fall into one of these categories should it be established in the EU/EEA, is also regarded as an FC for the purposes of EMIR.
High-frequency Algorithmic Trading (HFAT)
A firm is considered to be HFAT when using (1) infrastructure minimizing latencies (e.g co-location, proximity housing, DEA), (2) system determination of order initiation, generation, routing of execution without human intervention (in other words (algo trading”), high message intraday rates, generally speaking >2 msg/sec for individual financial instruments (for which there is a liquid market) on a trading venue, and >4msg/sec for all financial instruments on a trading venue.
Investment Services
Reception and transmission of orders in relation to one or more financial instruments; Execution of orders on behalf of clients, dealing on own account, portfolio management, investment advice, underwriting of financial instruments and/or placing of financial instruments on a firm commitment basis, placing of financial instruments without a firm commitment basis, operating an MTF, operating an OTF.
Legal Entity Identifier (LEI)
The LEIs of Societe Generale and some of its affiliates
| Societe Generale entity | LEI |
| Societe Generale SA (=SGPM) | O2RNE8IBXP4R0TD8PU41 |
| Societe Generale International Ltd (=SGIL) | 0IKLU6X1B10WK7X42C15 |
| Societe Generale Americas Holdings, LLC | 549300C9BOHF3958FY77 |
| SG Option Europe | 969500FDN8G43HMHZM83 |
| SG Securities (HK) Ltd | 549300X7ULDGXKFTX656 |
| SG Securities (Australia) Pty Ltd | 549300NTSMOFLP23EQ17 |
| SG Securities Korea | 549300WT2A7OFEK0ML22 |
| SG Securities Japan | 549300DYR3K7LUB9DB77 |
| SG Securities India | 549300JOY5AOTCRJCO70 |
| SG China Limited | 549300FEPVSYKWC0I854 |
Multilateral Trading Facilities (MTF)
A multilateral system operated by an IF or a market operator, which brings together multiple third-party buying and selling interests in financial instruments – in the system and in accordance with non-discretionary rules – in a way that results in a contract.
Non-Financial Counterparties (NFC)
EMIR Classification used to define parties to derivatives contracts. An NFC is an undertaking established in the EU/EEA which is not an FC; in other words, a non-financial company or corporate entity. Equally a third country entity that would not meet the definition of an FC, should it be established in the EU/EEA, would also be regarded as an NFC. Counterparties in this category are also differentiated by the scale and nature of their OTC derivatives activity. An NFC whose activity, excluding normal hedging for commercial purposes, exceeds certain defined thresholds is regarded as an NFC above the threshold (or NFC+), and is subject to broadly the same requirements as FCs. An NFC below the threshold has fewer obligations under EMIR. All EU/EEA NFCs have the obligation to notify their national regulator if their activity crosses the Clearing Threshold in either direction (i.e. above or below).
Organised Trading Facility (OTF)
A multilateral system which is not a regulated market or a MTF and in which third-party buying and selling interests in bonds, structured finance products, emission allowances or derivatives are able to interact in the system in a way that results in a contract.
Packaged Retail and Insurance-based Investment Products (PRIIPS)
Packaged Retail and Insurance-based Investment Products. It provides standard requirements on documentation to be provided to retail clients on a pre-trade basis.
Systematic Internaliser (SI)
An IF which, on a organized, frequent, systematic and substantial basis, deals on own account by executing client orders outside a RM, MTF or OTF. View the list of instruments for which SG will be a SI