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Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (Text with EEA relevance)
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1.For the purposes of Article 92(3), the following categories of investment firm which hold initial capital in accordance with Article 28(2) of Directive 2013/36/EU shall use the calculation of the total risk exposure amount specified in paragraph 2 of this Article:
(a)investment firms that deal on own account only for the purpose of fulfilling or executing a client order or for the purpose of gaining entrance to a clearing and settlement system or a recognised exchange when acting in an agency capacity or executing a client order;
(b)investment firms that meet all the following conditions:
that do not hold client money or securities;
that undertake only dealing on own account;
that have no external customers;
for which the execution and settlement whose transactions takes place under the responsibility of a clearing institution and are guaranteed by that clearing institution.
2.For investment firms referred to in paragraph 1, total risk exposure amount shall be calculated as the sum of the following:
(a)points (a) to (d) and (f) of Article 92(3) after applying Article 92(4);
(b)the amount referred to in Article 97 multiplied by 12,5.
3.Investment firms referred to in paragraph 1 are subject to all other provisions regarding operational risk laid down in Title VII, Chapter 3, Section II, Sub-section 1 of Directive 2013/36/EU.
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