individual, and shall be allowed to undertake a derivatives business only after a license from the SEC has been obtained. Any derivatives business operator which is a legal entity under Section 17 and engages

Office hereby issues the following regulations: Clause 1 In this Notification: “ derivatives broker ” means a person licensed to undertake derivatives business in the category of derivatives brokerage

is to determine the maximum amount of damages claimed in order to ensure that the arbitration serves as an alternative dispute resolution for individual investors in accordance with the purpose of the

services to clients with details covering the operation specified in Clause 5; (d) having a plan to report the results of the experiment and progress of service provision to the SEC Office on a continuing

communicating and providing services to clients with details covering the operation specified in Clause 4; (d) having a plan to report the results of the experiment and progress of service provision to the SEC

able to show that any individual being its director, manager or person with power of management who is in charge of derivatives business of the applicant meets the requirements and does not have any

of the risk management or allocation of IT resources in a year, etc.; (b) any progress of the IT project (if any); (c) any compliance with the regulations, rules or agreement made with external parties

; (b) an individual or a company holding majority shares of such person, which means: 1. an individual or a company holding shares of such person in the number of exceeding fifty percent of the total

in a number exceeding fifty percent of the total paid-up shares with voting rights of such person; 2. an individual or a company holding shares of the company under 1. in a number exceeding fifty

securities trading center; (d) having a plan to report the results of the experiment and progress of service provision to the SEC Office on a continuous basis; (e) having a clear exit strategy in case of