1. For the purposes of paragraph 7 of Part 1 of Schedule 2 to the Regulated Activities Order, a contract which is not a spot contract in accordance with paragraph 2 and which is not for commercial purposes as laid down in paragraph 4 shall be considered as having the characteristics of other derivative financial instruments where it satisfies the following conditions:

(a) it meets one of the following criteria:

(i) it is traded on a third country trading venue which is a regulated market, an MTF or an OTF (as defined by Article 2(1)(13), (14) and (15) respectively of the markets in financial instruments regulation);

(ii) it is expressly stated to be traded on, or is subject to the rules of, a UK regulated market, a UK MTF, a UK OTF (as defined by Article 2(1)(13A), (14A) and (15A) respectively of the markets in financial instruments regulation); or such a third country trading venue;

(iii) it is equivalent to a contract traded on a UK regulated market, a UK MTF, a UK OTF or such a third country trading venue, with regards to the price, the lot, the delivery date and other contractual terms;