In Europe:-
NASDAQ Europe. (This market is recently formed and the general level of liquidity may not compare favourably to that found on more established exchanges).
The Chinese Inter-Bank Bond Market regulated by the Chinese Central Bank – People’s Bank of China.
In the United Kingdom:-
The UK market (i) conducted by banks and other institutions regulated by the FCA and subject to the Inter-Professional Conduct provisions of the FCA's Market Conduct Sourcebook and (ii) in non-investment products which are subject to the guidance contained in the "Non-Investment Products Code" drawn up by the participants in the London market, including the FCA and the Bank of England (formerly known as “The Grey Paper”; and
AIM - the Alternative Investment Market in the UK, regulated and operated by the London Stock Exchange; and The London International Financial Futures and Options Exchange (LIFFE); and
The London Securities and Derivatives Exchange. In France:-
The French market for Titres de Créances Négotiables (over-the-counter market in negotiable debt instruments). In Japan:-
The over-the-counter market in Japan regulated by the Securities Dealers Association of Japan. In Russia:-
Moscow Exchange In Singapore:
SESDAQ (the second tier of the Singapore Stock Exchange); and The Singapore International Monetary Exchange.
In the United States:-
NASDAQ in the United States; and
The market in U.S. Government securities conducted by primary dealers regulated by the Federal Reserve Bank of New York; and
The over-the-counter market in the United States conducted by primary and secondary dealers regulated by the Securities and Exchanges Commission and by the Financial Industry Regulatory Authority, Inc. and by banking institutions regulated by the U.S. Comptroller of the Currency, the Federal Reserve System or Federal Deposit Insurance Corporation;
All derivative exchanges on which permitted financial derivative instruments may be listed or traded:
- in a Member State (with the exception of Malta);
- in a Member State in the European Economic Area (European Union (with the exception of Malta), Norway and Iceland but excluding Liechtenstein);in Asia, on the
- China Financial Futures Exchange;
- Hong Kong Exchanges & Clearing;
- Jakarta Futures Exchange;
- Korea Futures Exchange;
- Korea Stock Exchange;
- Kuala Lumpur Options and Financial Futures Exchange;
- Bursa Malaysia Derivatives Berhad;
- National Stock Exchange of India;
- Osaka Mercantile Exchange;
- Osaka Securities Exchange;
- Shanghai Futures Exchange;
- Singapore Commodity Exchange;
- Singapore Exchange;
- Stock Exchange of Thailand;
- Taiwan Futures Exchange;
- Taiwan Stock Exchange;
- The Stock Exchange, Mumbai;
- Tokyo International Financial Futures Exchange;
- Tokyo Stock Exchange; in Australia, on the
- Australian Stock Exchange;
- Sydney Futures Exchange;in Brazil on the Bolsa de Mercadorias & Futuros; in Israel on the Tel-Aviv Stock Exchange;in Mexico on the Mexican Derivatives Exchange (MEXDER); in South Africa on the South African Futures Exchange;in Switzerland on Eurex (Zurich) in Turkey on Turkdex (Istanbul)in the United States of America, on the
- American Stock Exchange;
- Chicago Board of Trade;
- Chicago Board Options Exchange;
- Chicago Mercantile Exchange;
- Eurex US;
- International Securities Exchange;
- New York Futures Exchange;
- New York Board of Trade;
- New York Mercantile Exchange;
- Pacific Stock Exchange;
- Philadelphia Stock Exchange; in Canada on the Bourse de Montreal;For the purposes only of determining the value of the assets of a Fund, the term “Recognised Exchange" shall be deemed to include, in relation to any derivatives instrument utilised by a Fund, any organised exchange or market on which such derivative instrument is regularly traded.

Translation (ENIT, 2022-08-08):
In Europa:
NASDAQ Europe. (Questo mercato è di recente costituzione e il livello generale di liquidità potrebbe non rapportarsi favorevolmente a quelli riscontrati in borse ormai consolidate).
In Cina:
Inter-Bank Bond Market cinese regolamentato dalla Chinese Central Bank - People’s Bank of China. Nel Regno Unito:
il mercato britannico (i) condotto da banche e altri istituti regolamentati dalla FCA e soggetti alle norme di Condotta interprofessionale del Market Conduct Sourcebook della FCA e (ii) nei prodotti non d’investimento soggetti alla guida contenuta nel “Codice dei prodotti non d’investimento” redatta dagli operatori del mercato londinese, compresa la FCA e la Banca d’Inghilterra (l’ex “Grey Paper”); e
AIM, Alternative Investment Market, nel Regno Unito, regolamentato e gestito dalla London Stock Exchange; e London International Financial Futures and Options Exchange (LIFFE); e
London Securities and Derivatives Exchange. In Francia:
il mercato francese dei “Titres de Créances Négotiables” (mercato fuori borsa di strumenti di debito negoziabili). In Giappone:
il mercato over-the-counter in Giappone, regolamentato dalla Securities Dealers Association of Japan. In Russia:
Moscow Exchange A Singapore:
SESDAQ (il secondo livello del Singapore Stock Exchange); e Singapore International Monetary Exchange.
Negli Stati Uniti:
NASDAQ negli Stati Uniti; e
il mercato dei titoli di stato USA, gestito dai principali operatori di borsa regolamentati dalla Federal Reserve Bank di New York; e
il mercato over-the-counter statunitense condotto da operatori primari e secondari disciplinati dalla Securities and Exchange Commission e dalla Financial Industry Regulatory Authority, Inc. e da istituti bancari regolamentati dal Comptroller of the Currency statunitense, dal Federal Reserve System o dalla Federal Deposit Insurance Corporation;
Tutti i mercati di derivati in cui possono essere quotati o negoziati strumenti finanziari derivati consentiti:
- in uno Stato membro (a eccezione di Malta);
- in uno Stato membro dello Spazio Economico Europeo (Unione Europea (a eccezione di Malta), Norvegia e Islanda, ma con esclusione del Liechtenstein);in Asia, nelle borse seguenti:
- China Financial Futures Exchange
- Jakarta Futures Exchange;
- Korea Futures Exchange;
- Korea Stock Exchange;
- Kuala Lumpur Options and Financial Futures Exchange;
- Bursa Malaysia Derivatives Berhad;
- National Stock Exchange of India;
- Osaka Mercantile Exchange;
- Osaka Securities Exchange;
- Shanghai Futures Exchange;
- Singapore Commodity Exchange;
- Singapore Exchange;
- Stock Exchange of Thailand;
- Taiwan Futures Exchange;
- Taiwan Stock Exchange;
- The Stock Exchange, Mumbai;
- Tokyo International Financial Futures Exchange;
- Tokyo Stock Exchange;in Australia, nelle borse seguenti:
- Australian Stock Exchange;
- Sydney Futures Exchange;in Brasile alla Bolsa de Mercadorias & Futuros;in Israele alla Tel-Aviv Stock Exchange;in Messico alla Mexican Derivatives Exchange (MEXDER); in Sudafrica alla South African Futures Exchange;in Svizzera all’Eurex (Zurigo) in Turchia al Turkdex (Istanbul)negli Stati Uniti d’America, nelle borse seguenti:
- American Stock Exchange;
- Chicago Board of Trade;
- Chicago Board Options Exchange;
- Chicago Mercantile Exchange;
- Eurex US;
- International Securities Exchange;
- New York Futures Exchange;
- New York Board of Trade;
- New York Mercantile Exchange;
- Pacific Stock Exchange;
- Philadelphia Stock Exchange; in Canada alla Bourse de Montreal;Ai soli fini della determinazione del valore delle attività di un Comparto, il termine “Mercato riconosciuto” si intenderà comprensivo, per quanto attiene a eventuali strumenti derivati utilizzati dal Comparto specifico, di qualsiasi borsa valori o mercato organizzato in cui lo strumento derivato in questione sia regolarmente negoziato.