results in an offsetting of the position or by any other means under the rules of a derivatives clearing house. “securities” means securities under the Securities and Exchange Act. “Stock Exchange” means

house as required by such clearing house. In this regard, any offsetting position between clients is prohibited. Clause 7 A derivatives broker shall not lend money to clients for a purpose of depositing

standards of business operation; (4) having efficient system of operational control for examining and counterbalancing [the personnel’s performance]; (5) having efficient internal audit and control system; (6

communication with and providing services to a client at least in accordance with the rules as prescribed in Clause 25/1; (4) having efficient system of operational control for examining and counterbalancing [the