In order to qualify as Elective professional clients, what must be satisfied in addition to qualitative tests?

To qualify as Elective Professional Clients under MiFID (Markets in Financial Instruments Directive) regulations, firms must not only meet qualitative criteria but also satisfy certain quantitative tests. The qualitative tests assess the client's experience, knowledge, and competence in the relevant financial instruments, while the quantitative tests typically evaluate the client’s financial position, such as portfolio size and frequency of transactions.

This two-fold requirement ensures that clients have both the necessary expertise and sufficient financial means to understand and undertake riskier investments. Hence, the need for quantitative assessments in the context of MiFID businesses plays a critical role in protecting clients and ensuring that they possess the financial capacity to engage in complex investment activities.

The other options would imply differing levels of requirements or no additional obligations, which would not align with the established standards for Elective Professional Clients under the directive. Therefore, quantitative tests are essential in conjunction with qualitative assessments for MiFID businesses to maintain a high standard of investor protection while allowing experienced clients to access a broader range of financial services.