Transactions to which the exemption in Article 1(6) of Regulation (EU) No 600/2014 does not apply
(Article 1(7) of Regulation (EU) No 600/2014)
Article 1(6) of Regulation (EU) No 600/2014 shall not apply to the following types of transactions entered into by a member of the ESCB for the performance of an investment operation that is unconnected with that member's performance of one of the tasks referred to in Article 14:
transactions entered into for the management of its own funds;
transactions entered into for administrative purposes or for the staff of the member of the ESCB which include transactions conducted in the capacity as administrator of a pension scheme for its staff;
transactions entered into for its investment portfolio pursuant to obligations under national law.