financial asset or financial liability held for trading

A financial asset or financial liability that:

1. is acquired or incurred principally for the purpose of selling or repurchasing it in the near term;
2. on initial recognition is part of a portfolio of identified financial instruments that are managed together and for which there is

evidence of a recent actual pattern of short- term profit-taking; or

3. is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument).

(According to International Accounting Standards IFRS 9)