English: entitled to carry out the activities referred to under [insert national law provisions implementing items 2, 3, 6 and 7 of Section A of Annex I to Directive 2004/39/EC], ‘liquidity transfer order’ means a payment order, the main purpose of which is to transfer liquidity between different accounts of the same participant or within a CAI or AL group, ‘managing NCB’ means the AL NCB of the TARGET2 component system in which the AL group manager participates, ‘marginal lending facility’ means a Eurosystem standing facility which counterparties may use to receive overnight credit from a Eurosystem CB at the pre-specified marginal lending rate, ‘marginal lending rate’ means the interest rate applicable to the marginal lending facility, ‘multi-addressee access’ means the facility by which branches or credit institutions established in the EEA can access the relevant TARGET2 component system by submitting payment orders and/or receiving payments directly to and from the TARGET2 component system; this facility authorises these entities to submit their payment orders through the direct participant’s PM account without that participant’s involvement, ‘network service provider’ means the undertaking appointed by the ECB’s Governing Council to provide computerised network connections for the purpose of submitting payment messages in TARGET2, ‘non-settled payment order’ means a payment order that is not settled on the same business day as that on which it is accepted, ‘participant’ (or ‘direct participant’) means an entity that holds at least one PM account with the [insert name of CB], ‘payee’, except where used in Article 39 of this Annex, means a TARGET2 participant whose PM account will be credited as a result of a payment order being settled,
German: eine Wertpapierfirma im Sinne von [nationale Rechtsvorschriften zur Umsetzung von Artikel 4 Absatz 1 Nummer 1 der Richtlinie 2004/39/EG des Europäischen Parlaments und des Rates vom 21. April 2004 über Märkte für Finanzierungsinstrumente, zur Änderung der Richtlinien 85/611/EWG und 93/6/EWG des Rates und der Richtlinie 2000/12/EG des Europäischen Parlaments und des Rates und zur Aufhebung der Richtlinie 93/22/EWG des Rates [6] einfügen], mit Ausnahme der in [nationale Rechtsvorschriften zur Umsetzung von Artikel 2 Absatz 1 der Richtlinie 2004/39/EG einfügen] genannten Personen und Einrichtungen, sofern die betreffende Wertpapierfirma,a) von einer gemäß der Richtlinie 2004/39/EG anerkannten, zuständigen Behörde zugelassen und beaufsichtigt wird und
Swedish: värdepappersföretag värdepappersföretag enligt [ange nationell lagbestämmelse som genomför artikel 4.1.1 i Europaparlamentets och rådets direktiv 2004/39/EG av den 21 april 2004 om marknader för finansiella instrument och om ändring av rådets direktiv 85/611/EEG och 93/6/EEG och Europaparlamentets och rådets direktiv 2000/12/EG samt upphävande av rådets direktiv 93/22/EEG [7], med undantag av institut som anges i [ange nationella lagbestämmelser som genomför artikel 2.1 i direktiv 2004/39/EG], förutsatt att det berörda värdepappersföretageta) har beviljats tillstånd och står under tillsyn av en erkänd behörig myndighet som enligt direktiv 2004/39/EG har utsetts som sådan, och