Regulation (EU) No 600/2014 is amended as follows:
(1) in Article 1, the following paragraph is inserted:
‘5a. Title II and Title III of this Regulation shall not apply to securities financing transactions as defined in point (11) of Article 3 of Regulation (EU) 2015/2365 of the European Parliament and of the Council [Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse and amending Regulation (EU) No 648/2012 (OJ L 337, 23.12.2015, p. 1).].’;
(2) in Article 2(1), the following points are added:
‘(48) "exchange for physical" means a transaction in a derivative contract or other financial instrument contingent on the simultaneous execution of an equivalent quantity of an underlying physical asset;
(49) "package order" means an order priced as a single unit:
(a) for the purpose of executing an exchange for physical; or
(b) in two or more financial instruments for the purpose of
…