contract for differences

Definitions over time (1)

01/11/2018 – today applies on 12/11/2026 Article 1, European Securities and Markets Authority Decision (EU) 2018/1636 Scope: Whole act Also: CFD

‘contract for differences’ or ‘CFD’ means a derivative other than an option, future, swap or forward rate agreement, the purpose of which is to give the holder a long or short exposure to fluctuations in the price, level or value of an underlying, irrespective of whether it is traded on a trading venue, and that must be settled in cash or may be settled in cash at the option of one of the parties other than by reason of default or other termination event;