Investment Services – Licensable Instruments


The “instruments” listed in the Second Schedule to the Investment Services Act are the following:

  1. Transferable Securities including shares, bonds and other similar securities;
  2. Money Market Instruments, such as treasury bills, certificates of deposit and commercial papers but excluding instruments of payment;
  3. Units in collective investment schemes;
  4. Derivatives relating to securities, currencies, interest rates or yields, or other derivative instruments, financial indices or financial measures which may be settled physically or in cash;
  5. Derivatives relating to commodities which may be settled in cash;
  6. Derivatives relating to commodities, that can be physically settled and are traded on a regulated market or multilateral trading facility;
  7. Derivatives relating to commodities, that can be physically settled, are not for commercial purposes and are cleared and settled through recognized clearing houses or subject to regular margin calls;
  8. Derivatives for the transfer of credit risk;
  9. Rights under a contract for differences;
  10. Derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics, settled in cash;
  11. Certificates or other instruments which confer property rights in respect of any other instrument;
  12. Foreign exchange acquired or held for investment purposes.