procedures and responsible persons should be clearly prescribed; (3) Having staffs with approvals from the Office to contact, solicit or advise clients on derivatives trading, and to analyze value and

on derivatives trading, and to analyze value and appropriateness in trading derivatives trading, product or variables specified in derivatives contract whereby such analysis shall be distributed to

of time as provided in private fund agreement, which such report contain information about the date of (Translation) - 8 - engagement transaction, natures of transaction, value of transaction, price

transaction, value of transaction, price per unit (if any) and the investment limit compared with the net asset value of private fund specifying such transaction consistent with any of clause 18(1) to (6

customers, confirmation statement, evidence of margin call, account of derivatives trading of each customer and analysis report or article on the value or suitability of trading in derivatives, underlying

price of investment units of an ETF fund in an organized market to proximately reflect the value of such investment units which is calculated from the net asset value of the fund, by trading investment

ETF fund in an organized market to proximately reflect the value of such investment units which is calculated from the net asset value of the fund, by trading investment units of the ETF fund and

Contact who is also authorized to analyze value or suitability of trading or investing in securities and Category B Investor Contact who is not authorized to analyze value or suitability of trading or

Institutional Investors ; 6.2 using standardized agreement recognized by the SEC Office; 6.3 having repayment period of the transaction not exceeding ninety days; 6.4 value of securities received from repurchase

; 9 6.3 having repayment period of the transaction not exceeding ninety days; 6.4 value of securities received from repurchase transaction as of the commencing date of agreement is reasonably higher