undertake derivatives business in the category of derivative broker which is limited to only debt securities under the Notification of the Securities and Exchange Commission on granting of approval for

following qualifications: (1) Being executive of a securities company. This shall be limited to only one person for each securities company; or (2) Being mutual fund manager or private fund manager. Clause 6

Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for ref (Translation) (Translation) 2 Readers should be aware that only the

Section 90 Securities and Exchange Act B.E. 2535 Section 90. Securities business can be undertaken only by formation of either a limited company or a public limited company, or by a financial

expenses, provided that the expenses are limited only to expenses relating to the business operation; (3) ten percent of the average annual income but not exceeding five million baht, provided that the

in the category of derivatives dealer under the law of such foreign country; this is limited to only apply for derivatives dealer registration; (4)1 financial institution established under specific law

securities business in the category of: Ο securities broker; Ο securities dealer that not limited only to debt instrument; Ο securities finance. 1.1 Category of juristic person of the applicant, □ a commercial

undertake securities dealing that is limited only to debt instruments. “institutional client” means the following persons who undertakes transactions with a securities company in securities brokerage or

TRANSLATED VERSION As of August 27, 2014 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for reference. 37 Notification of the

(UNOFFICIAL TRANSLATION) Codified up to No.9 As of 20 February 2017 Readers should be aware that only the original Thai text has legal force and that this English translation is strictly for