DEALING ON OWN ACCOUNT

Directive 2004/39/EC-MiFID defines “dealing on own account” as trading “[…] against proprietary capital resulting in the conclusion of transactions in one or more financial instruments”  (article 4, paragraph 1, number 6). Hence article 1, paragraph 5-bis, of the Italian Consolidated Law (TUF):  “Dealing on own account is defined as the buying and selling of financial instruments, against proprietary capital and in relation to client orders, as well as market-making”.
Editor: Maria Giovanna CERINI
© 2010 ASSONEBB