Two of the following criteria shall be satisfied for a Non-Professional client to be treated as an elective professional:

  • The client has carried out transactions, in significant size, on the relevant market at an average frequency of 10 per quarter over the previous four quarters.
  • The size of the client's financial instrument portfolio, defined as including cash deposits and financial instruments exceeds 500,000 Euros.
  • The client works or has worked in the financial sector for at least one year in a professional position, which requires knowledge of the transactions or services envisaged.