ANNEX Section A

Services

1

 

a

Reception and transmission, on behalf of investors, of orders in relation to one or more instruments listed in Section B.

b

Execution of such orders other than for own account.

2

Dealing in any of the instruments listed in Section B for own account.

3

Managing portfolios of investments in accordance with mandates given by investors on a discretionary, client-by-client basis where such portfolios include one or more of the instruments listed in Section B.

4

Underwriting in respect of issues of any of the instruments listed in Section B and/or the placing of such issues.

Section B

Investments

1

 

a

Transferable securities.

b

Units in collective investment undertakings.

2

Money-market instruments.

3

Financial-futures contracts, including equivalent cash-settled instruments.

4

Forward interest-rate agreements (FRAs).

5

Interest-rate, currency and equity swaps.

6

Options to acquire or dispose of any instruments falling within this section of the Annex, including equivalent cash-settled instruments. This category includes in particular options on currency and on interest rates.

Section C

Non-core services

1

Safekeeping and administration in relation to one or more of the instruments listed in Section B.

2

Safe custody services.

3

Granting credits or loans to an investor to allow him to carry out a transaction in one or more of the instruments listed in Section B, where the firm granting the credit or loan is involved in the transaction.

4

Advice to undertakings on capital structure, industrial strategy and related matters and advice and service relating to mergers and the purchase of undertakings.

5

Services related to underwriting.

6

Investment advice concerning one or more of the instruments listed in Section B.

7

Foreign-exchange services where these are connected with the provision of investment services.