of securities brokerage, securities finance, securities borrowing and lending, securities dealing or securities underwriting, which is not limited to debt instruments, exclude financial institutions

company or a public limited company which is established to undertake securities business in the category of securities finance shall be as follows: (1) a financial institution under the Law on Loan

.: (a) Various securities activities or related activities such as derivatives market, securities borrowing and lending; (b) New types of securities or related financial instruments such as derivatives

foncier businesses, the commercial banking laws, the life insurance laws or any laws relating to financial businesses of similar natures, regardless of such laws being Thai or foreign, by any competent

reference. PAGE 2 Notification of the Securities and Exchange Commission No. Kor Thor. 8/2549 Re: Preparation and Disclosure of Financial Statements of Derivatives Business Operators By virtue of Section 9

Thailand; (3) an international financial institution; (4) a juristic person established under a specific law; (5) a government agency and a State enterprise under the law on budgetary procedure; (6) the

continuing a relationship, which should be discontinued. 7 Does the firm have any particularly risky clients or risky industry (e.g. Finance and Securities, Banking, Insurance, Energy & Utilities, Mining

; (3) “Commercial bank” means any commercial bank under the law on commercial banking and any juristic person established under foreign laws which is permitted by such laws to undertake commercial

business operator persuant to the law on agricultural futures trading; (4) the Bank of Thailand; (5) an international financial institution; (6) a juristic person established under a specific law; (7) a

person obtaining the commercial banking business license under the law on financial institutions. “ net capital ” means the liquid capital deducted by risk haircuts . “ liquid capital ” means liquid assets