Definicija: exchanges which are recognised as such by the competent authorities and which meet the following conditions: (a) they function regularly; (b) they have rules, issued or approved by the appropriate authorities of the home country of the exchange, defining the conditions for the operation of the exchange, the conditions of access to the exchange as well as the conditions that must be satisfied by a contract before it can effectively be dealt on the exchange; (c) they have a clearing mechanism whereby contracts listed in Annex IV are subject to daily margin requirements which, in the opinion of the competent authorities, provide appropriate protection.

Definicija: borze, ki jih kot take priznajo pristojni organi in ki izpolnjujejo naslednje pogoje: (a) delujejo redno, (b) imajo poslovnik, ki ga izdajo ali odobrijo ustrezni organi države, v kateri je borza, ki opredeljujejo pogoje delovanja borze, pogoje dostopa do borze in prav tako pogoje, ki jih je treba izpolniti s pogodbo, preden se lahko z njo dejansko trguje na borzi, (c) imajo klirinške mehanizme, po katerih za pogodbe, naštete v Prilogi IV, veljajo predpisane dnevne marže, ki po mnenju pristojnih organov predstavljajo ustrezno zaščito