A Guide to Financial Regulation for Fintech Entrepreneurs

Appendix A:Important Definitions from European Legal Texts

Entity	Definition	Source
AIF	see Alternative investment fund	-
AIFM	see Alternative investment fund manager	-
AISP	see Account information service provider	-
APA	see Approved Publication Arrangement	-
APR	see Annual percentage rate	-
Accepted Market Practice	Accepted Market Practice means a specific market practice that is accepted by a competent authority in accordance with Article 13 MAR	MAR Art 3.1(9)
Account Information Service	Account Information Service means an online service to provide consolidated information on one or more payment accounts held by the Payment Service user either with another Payment Service Provider or with more than one Payment Service Provider	PSD2 Art 4(16)
Account Information Service Provider (AISP)	Account Information Service Provider means a Payment Service Provider pursuing business activities as referred to in point (8) of Annex I	PSD2 Art 4(19)
Account Servicing Payment Service Provider	Account Servicing Payment Service Provider means a Payment Service Provider providing and maintaining a payment account for a payer	PSD2 Art 4(17)
Algorithmic Trading	Algorithmic Trading means trading in financial instruments where a computer algorithm automatically determines individual parameters of orders such as whether to initiate the order, the timing, price, or quantity of the order or how to manage the order after its submission, with limited or no human intervention, ...