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:
(i)they do not hold client money or securities;
(ii)they undertake only dealing on own account;
(iii)they have no external customers;
(iv)their execution and settlement transactions take 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)Article 92(4), points (a) to (d)(e) and (f)point of Article 92(3)(g), after applying Article 92(4);92(6);
(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.