# Appendix 2: The regulated markets
With the exception of permitted investments in unlisted securities investment will be restricted to those stock exchanges and markets listed in the Prospectus. The Regulated Markets shall comprise:
1.1 Any stock exchange or securities market in the European Union and also any investments listed, quoted or dealt in on any stock exchange or securities market in the UK, US, Australia, Canada, Japan, New Zealand, Norway or Switzerland.
1.2
The market in US government securities which is conducted by primary dealers which are regulated by the Federal Reserve Bank of New York;
The over the counter market in the US conducted by primary dealers and secondary dealers which are regulated by the US Securities and Exchange Commission (SEC) and by the Financial Industry Regulatory Authority (FINRA)., and by banking institutions regulated by the US Comptroller of the Currency, the Federal Reserve System or Federal Deposit Insurance Corporation;
The market conducted listed money market institutions” as described in the Bank of England publication “The Regulation of the Wholesale Cash and OTC Derivatives Markets (in Sterling, foreign currency and bullion)”;
The over-the-counter market in Japan regulated by the Securities Dealers Association of Japan;
The French Market for Titres de Creance Negotiable (over-the-counter market in negotiable debt instruments);
The over-the-counter market in Canadian Government Bonds regulated by the Investment Dealers Association of Canada;
The Singapore OTC Corporate Bond Market;
The Bloomberg Multilateral Trading Facility (BMTF); The International Stock Exchange (TISE)
- Any of the following exchanges:

| Argentina | The Buenos Aires Stock Exchange (BCBA) |
| --- | --- |
| Bahrain | The Bahrain Stock Exchange |
| Bangladesh | The Dhaka Stock Exchange |
| Bermuda | The Bermuda Stock Exchange |
| Botswana | The Botswana Stock Exchange |
| Brazil | B3 - Brasil Bolsa Balcão |
| Chile | The Santiago Stock Exchange |
| China | The Shanghai Stock Exchange (SSE) The Shenzhen Stock Exchange (SZSE) |
| Colombia | The Colombia Stock Exchange |
| Croatia |  |
| Egypt | The Egyptian Exchange (EGX) |
| Ghana | The Ghana Stock Exchange |
| Hong Kong | The Stock Exchange of Hong Kong |
| India | The Bombay Stock Exchange (BSE) The Calcutta Stock Exchange The National Stock Exchange of India (NSE) |

| Indonesia | The Indonesia Stock Exchange |
| --- | --- |
| Israel | The Tel Aviv Stock Exchange |
| Kazakhstan | Kazakhstan Stock Exchange |
| Kenya | The Nairobi Stock Exchange (NSE) |
| Kuwait | Boursa Kuwait |
| Lebanon | The Beirut Stock Exchange |
| Malaysia | Bursa Malaysia |
| Mauritius | The Stock Exchange of Mauritius |
| Mexico | The Mexican Stock Exchange |
| Morocco | The Casablanca Stock Exchange |
| Namibia | The Namibian Stock Exchange |
| Nigeria | Nigerian Stock Exchange (NSE) |
| Oman | The Muscat Securities Exchange |
| Pakistan | Pakistan Stock Exchange (PSX) |
| Panama | The Panama Stock Exchange |
| Peru | The Lima Stock Exchange |
| Philippines | The Philippines Stock Exchange |
| Qatar | Qatar Stock Exchange (QE) |
| Russia | Moscow Exchange (MOEX) The Saint Petersburg Stock Exchange |
| Saudi Arabia | The Saudi Stock Exchange (Tadawul) |
| Serbia | The Belgrade Stock Exchange |
| Singapore | Singapore Exchange (SGX) |
| South Africa | The Johannesburg Stock Exchange (JSE) |
| South Korea | Korea Exchange (KRX) |
| Sri Lanka | The Colombo Stock Exchange (CSE) |
| Taiwan | The Taiwan Stock Exchange (TWSE) |
| Thailand | Stock Exchange of Thailand (SET) |
| Turkey | Borsa Istanbul (BIST) |
| Ukraine | The PFTS Stock Exchange The Ukraine Stock Exchange |
| United Arab Emirates | Abu Dhabi Securities Exchange (ADX) The Dubai Financial Market (DFM) NASDAQ Dubai |
| Uruguay | The Montevideo Stock Exchange The Electronic Stock Exchange of Uruguay |
| Vietnam | Ho Chi Minh City Stock Exchange (HOSE) |
| Zambia | The Lusaka Stock Exchange |

- For investments in financial derivative instruments:-The over-the-counter market in the US conducted by primary and secondary dealers regulated by the Securities and Exchange Commission (SEC) and by the Financial Industry Regulatory Authority (FINRA) and by banking institutions regulated by the US Comptroller of the Currency, the Federal Reserve System or Federal Deposit Insurance Corporation;The market conducted by listed money market institutions” as described in the Bank of England publication “The Regulation of the Wholesale Cash and OTC Derivatives Markets (in Sterling, foreign currency and bullion)”;The over-the-counter market in Japan regulated by the Securities Dealers Association of Japan;The French Market for Titres de Creance Negotiable (over-the-counter market in negotiable debt instruments);The over-the-counter market in Canadian Government Bonds regulated by the Investment Dealers Association of Canada; and
- any approved derivative market within the European Economic Area or the United Kingdom on which FDI are traded;
- NYSE American , Australian Stock Exchange (ASX), Bolsa Mexicana de Valores, CME Group (CME), Chicago Board Options Exchange (CBOE), Hong Kong Stock Exchange, Korea Exchange, ICE Futures Exchange, New York Stock Exchange Group, New Zealand Futures and Options Exchange, Osaka Securities Exchange, NASDAQ OMX PHLX, Singapore Stock Exchange(SGX), South Africa Futures Exchange (SAFEX), The National Association of Securities Dealers Automated Quotations System (NASDAQ); Tokyo Stock Exchange; TMX Group Exchange.

These exchanges are listed in accordance with the requirements of the Central Bank, which does not issue a list of approved exchanges.
The aggregate amount of a Fund which may be invested in securities traded on the Pakistan Stock Exchange is 30% of the net asset value of that Fund.
A definition of “Developing Market” is included under the “Definition” section.

Translation (ENFR, 2022-03-01):
# Annexe 2 : Les Marchés Réglementés
À l’exception des investissements autorisés dans des titres non cotées, les investissements seront limités aux Bourses et marchés énoncés dans le présent Prospectus. Les Marchés Réglementés comprendront :
1.1 Tout marché boursier ou marché des valeurs mobilières de l'Union européenne et également tout investissement inscrit, coté ou négocié sur tout marché boursier ou marché des valeurs mobilières du Royaume-Uni, des États-Unis, de l'Australie, du Canada, du Japon, de la Nouvelle-Zélande, de la Norvège ou de la Suisse ;
1.2
Le marché des titres d’État du gouvernement des États-Unis conduit par les négociateurs réglementés par la Federal Reserve Bank of New York ;
Le marché de gré à gré des États-Unis conduit par des opérateurs réglementés par la Securities and Exchange Commission (SEC) et par la Financial Industry Regulatory Authority (FINRA) et par des institutions bancaires réglementées par l’US Controller of the Currency, le Federal Reserve System ou la Federal Deposit Insurance Corporation ;
Le marché conduit par les institutions monétaires cotées telles que décrites dans la publication de la Banque d'Angleterre intitulée « The Regulation of the Wholesale Cash and OTC Derivatives Markets (en livres sterling, en devises étrangères et en lingots) » ;
le marché libre du Japon réglementé par l’Association des Négociants en Valeurs Mobilières du Japon ; le marché français des titres de créances négociables ;
le marché de gré à gré des Obligations d’État canadiennes réglementé par l’Investment Dealers Association of Canada ;
le Marché des obligations d'entreprises de gré à gré à Singapour ;
la plateforme multilatérale de négociation opérée par Bloomberg (BMTF) ; la Bourse internationale (TISE)
- Toutes les Bourses suivantes :

| Argentine | Bourse de Buenos Aires |
| --- | --- |
| Bahreïn | Bourse de Bahreïn |
| Bengladesh | Bourse de Dhaka |
| Bermudes | Bourse des Bermudes |
| Botswana | Bourse du Botswana |
| Brésil | B3 - Brasil Bolsa Balcão |
| Chili | Bourse de Santiago |
| Chine | Bourse de Shanghai (SSE) Bourse de Shenzhen (SZSE) |
| Colombie | Bourse de Colombie |
| Croatie |  |
| Égypte | Bourse égyptienne (EGX) |
| Ghana | Bourse du Ghana |
| Hong Kong | Bourse de Hong Kong |
| Inde | Bourse de Bombay (BSE) Bourse de Calcutta National Stock Exchange National of India (NSE) |

| Indonésie | Bourse d'Indonésie |
| --- | --- |
| Israël | Bourse de Tel Aviv |
| Kazakhstan | Bourse du Kazakhstan |
| Kenya | Bourse de Nairobi (NSE) |
| Koweït | Bourse du Koweït |
| Liban | La Bourse de Beyrouth |
| Malaisie | Bourse de Malaisie |
| Maurice | Bourse de Maurice |
| Mexique | Bourse mexicaine |
| Maroc | Bourse de Casablanca |
| Namibie | Bourse de Namibie |
| Nigéria | Bourse du Nigéria (NSE) |
| Oman | Bourse de Muscat |
| Pakistan | Bourse du Pakistan (PSX) |
| Panama | Bourse du Panama |
| Pérou | Bourse de Lima |
| Philippines | Bourse des Philippines |
| Qatar | Bourse du Qatar (QE) |
| Russie | Bourse de Moscou (MOEX) Bourse de Saint-Pétersbourg |
| Arabie Saoudite | Bourse saoudienne (Tadawul) |
| Serbie | Bourse de Belgrade |
| Singapour | Bourse de Singapour (SGX) |
| Afrique du Sud | Bourse de Johannesbuurg (JSE) |
| Corée du Sud | Bourse de Corée (KRX) |
| Sri Lanka | Bourse de Colombo (CSE) |
| Taïwan | Bourse de Taïwan |
| Thaïlande | Bourse de Thaïlande (SET) |
| Turquie | Bourse d'Istanbul (BIST) |
| Ukraine | Bourse des valeurs de PFTS Bourse d’Ukraine |
| Émirats Arabes Unis | Bourse des valeurs d’Abu Dhabi (ADX) Marché financier de Dubaï (DFM) NASDAQ Dubaï |
| Uruguay | Bourse des valeurs de Montevideo Bourse Électronique de l’Uruguay |
| Vietnam | Bourse de Ho Chi Minh Ville (HOSE) |
| Zambie | Bourse de Lusaka |

- Pour les investissements en instruments financiers dérivés :-le marché de gré à gré aux États-Unis géré par les négociants des marchés primaire et secondaire régis par la Securities and Exchange Commission (SEC) et par la Financial Industry Regulatory Authority (FINRA) (ainsi que par les institutions bancaires réglementées par le US Comptroller of the Currency, le Federal Reserve System ou la Federal Deposit Insurance Corporation) ;le marché géré par les « institutions monétaires cotées » (listed money market institutions) telles que décrites dans la publication de la Banque d'Angleterre intitulée « The Regulation of the Wholesale Cash and OTC Derivatives Markets (in Sterling, foreign currency and bullion) » ;le marché libre du Japon réglementé par l’Association des Négociants en Valeurs Mobilières du Japon ;le marché français des titres de créances négociables ;le marché de gré à gré des Obligations d’État canadiennes réglementé par l’Investment Dealers Association of Canada ; et
- tout marché dérivé agréé au sein de l'Espace économique européen ou du Royaume-Uni sur lequel les IFD sont négociés ;
- NYSE American, Australian Stock Exchange (ASX), Bolsa Mexicana de Valores, CME Group (CME), Chicago Board Options Exchange (CBOE), Hong Kong Stock Exchange, Korea Exchange, ICE Futures Exchange, New York Stock Exchange Group, New Zealand Futures and Options Exchange, Osaka Securities Exchange, NASDAQ OMX PHLX, Singapore Stock Exchange(SGX), South Africa Futures Exchange (SAFEX), The National Association of Securities Dealers Automated Quotations System (NASDAQ) ; Tokyo Stock Exchange ; TMX Group Exchange.

Ces Bourses sont énumérées conformément aux exigences de la Banque Centrale, qui ne publie pas de listes des Bourses approuvées.
Un Fonds peut être investi dans des titres négociés sur la Bourse du Pakistan pour un montant total égal à 30 % de sa valeur liquidative.
Une définition de « Marché en développement » est incluse dans la section « Définition ».