. “ association ” means: (1) an association relating to a securities business, of which objectives is for promoting and developing securities business, having obtained an approval to establish and having registered

or right of a person arising from derivatives trading. “close out a derivatives position” means to discharge an obligation or terminate rights under derivatives an equal and opposite trade which

a securities business, of which objectives is for promoting and developing securities business, having obtained an approval to establish from and having registered [such establishment] with the SEC

contract for hedging the risk of client on the condition that such dealer has a risk profile opposite a client’s hedged risks at the time of contracting, or the derivatives would be able to significantly

repealed. Clause 2 In this Notification: “ regulatory sandbox ” means a framework for experimenting and developing an innovation in a controlled environment to support provision of services related to

sandbox ” means a framework for experimenting and developing an innovation in a controlled environment to support provision of services related to capital market. “ approved person ” means a person who is

regulations: Clause 1 In this Notification: “ regulatory sandbox ” means a framework for experimenting and developing an innovation in a controlled environment to support provision of services related to

for experimenting and developing an innovation in a controlled environment to support provision of services related to capital market. “ approved person ” means a person who is approved by the SEC

practicable to employees of the securities company, including those entrusted by the company. Also, the procedures shall accommodate non face-to-face contact with the clients and the use of new or developing

Office of the Securities and Exchange Commission The Association means: (1) an association relating to a securities business, of which objectives is for promoting and developing securities business