MiFID is the "Markets in Financial Instruments Directive". This directive is a key part of a package of European Union laws aimed at creating a single, more transparent market in financial services across all EU member states. In particular, MiFID aims to harmonise the rules governing the activities of financial services firms, to promote easier cross border business, increase market transparency and improve investor protection. It replaces the Investment Services Directive (ISD), which has been in place since 1995.
National authorities within the EU are required to implement MiFID in their respective countries with effect from 1 November 2007. To this end, Cyprus introduced legislation to implement Directive 2004/39/EC of the European Parliament and of the Council on Markets in Financial Instruments and Directive 2006/31/EC of the European Parliament and of the Council of 5th April, 2006. The relevant legislation is the Investment Services and Activities and Regulated Markets Law of 2007, number 144(1) of 2007, which was passed by the Cyprus House of Representatives on 25 October 2007, replacing the previous Investment Firms Law of 2002 with effect 1 November 2007.
ATONLINE LIMITED is regulated by the Cyprus Securities and Exchange Commission ("CySEC"). In accordance with CySEC rules ("the Rules"), we are required to classify our clients and counterparties into one of three regulatory categories, (1) Retail Clients, (2) Professional Clients and (3) Eligible Counterparties.
The greatest level of regulatory protection is afforded to Retail Clients, and the lowest level to Eligible Counterparties.
A Retail Client is a client who is neither a Professional Client nor an Eligible Counterparty.
Professional Clients include:
Firms which are treated automatically as Eligible Counterparties include:
Under MiFID, Professional Clients and Retail Clients may move between categories. In particular, Retail Clients can request to be treated as Professional Clients.
Under MiFID, Investment Firms must take reasonable care to ensure that a Retail Client requesting treatment as a Professional Client is able to meet similar qualitative criteria and, a separate quantitative test. At least two of the following quantitative criteria must be met:
Clients have the right to request a different classification in order to benefit from a higher degree of regulatory protection should they require it. Please bear in mind that it is Atonline Limited’s policy to refrain from serving retail clients.
|Prospective Clients:||Please contact the Client-on-boarding team either by telephone at +357 22 68 00 15 or by e-mail to who will assist you with your request.|
|Existing Clients:||If in doubt about the Fees and Charges applied by Atonline Limited, please contact your Account Officer, by telephone at +357 22 68 00 15 or by e-mail at .|
|Professional Clients report 2017
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|Conflicts of Interest Policy
(pdf, 487 KB)
|Order Execution Policy
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(pdf, 464 KB)