# APPENDIX 2 – REGULATED MARKETS
The following is a list of regulated stock exchanges and markets which operate regularly and are recognized and open to the public in which the assets of each Fund may be invested from time to time and is set out in accordance with the Central Bank’s requirements. With the exception of permitted investments in unlisted securities or units of open-ended collective investment schemes, investments will be restricted to the stock exchanges and markets below. The Central Bank does not issue a list of approved stock exchanges or markets. The stock exchanges and markets listed in the prospectus will be drawn from the following list.
- any stock exchange which is:-
- located in any Member State (with the exception of Malta); orlocated in any of the following countries:- Australia, Canada, Japan, Hong Kong, New Zealand, Norway, Switzerland, United Kingdom, United States of America; or
- any stock exchange included in the following list:-Argentina	Bolsa de Comercio de Buenos AiresArgentina	Bolsa de Comercio de CordobaArgentina	Bolsa de Comercio de RosarioArgentina	Bolsa de Comercio de MendozaArgentina	Bolsa de Comercio de La PlataBahrain	Bahrain Stock ExchangeBangladesh	Dhaka Stock ExchangeBangladesh	Chittagong Stock ExchangeBermuda	Bermuda Stock ExchangeBotswana	Botswana Stock ExchangeBrazil	Bolsa de Valores de Rio de JaneiroBrazil	Bolsa de Valores da Bahia-Sergipe-AlagoasBrazil	Bolsa de Valores do Extremo SulBrazil	Bolsa de Valores Minas-Espírito Santo-BrasíliaBrazil	Bolsa de Valores do ParanáBrazil	Bolsa de Valores de Pernambuco e ParaibaBrazil	Bolsa de Valores de SantosBrazil	Bolsa de Valores de São PauloBrazil	Bolsa de Valores RegionalBrazil	Brazilian Futures ExchangeChile	Bolsa de Comercio de SantiagoChile	Bolsa Electronica de Chile China (Peoples Republic of)	Shanghai Securities Exchange China (Peoples Republic of)	Shenzhen Stock Exchange Columbia	Bolsa de BogataColumbia	Bolsa de MedellinColumbia	Bolsa de OccidenteEgypt	Alexandria Stock ExchangeEgypt	Cairo Stock ExchangeGhana	Ghana Stock ExchangeHong Kong	Hong Kong Futures Exchange LtdHong Kong	Hong Kong Stock ExchangeIceland	Iceland Stock ExchangeIndia	Bangalooru Stock ExchangeIndia	Calcutta Stock ExchangeIndia	Chennai Stock ExchangeIndia	Cochin Stock ExchangeIndia	Delhi Stock ExchangeIndia	Gauhati Stock ExchangeIndia	Hyderabad Stock ExchangeIndia	Ludhiana Stock ExchangeIndia	Magadh Stock ExchangeIndia	Mumbai Stock ExchangeIndia	National Stock Exchange of IndiaIndia	Pune Stock ExchangeIndia	The Stock Exchange – AhmedabadIndia	Uttar Pradesh Stock ExchangeIndonesia	Indonesia Stock ExchangeIsrael	Tel-Aviv Stock ExchangeJordan	Amman Financial MarketKenya	Nairobi Stock ExchangeKuwait	Kuwait Stock ExchangeMalaysia	Kuala Lumpur Stock ExchangeMauritius	Stock Exchange of MauritiusMexico	Bolsa Mexicana de ValoresMorocco	Societe de la Bourse des Valeurs de CasablancaNigeria	Nigerian Stock Exchange in LagosNigeria	Nigerian Stock Exchange in KadunaNigeria	Nigerian Stock Exchange in Port HarcourtNamibia	Namibian Stock ExchangePakistan	Islamabad Stock ExchangePakistan	Karachi Stock ExchangePakistan	Lahore Stock ExchangePeru	Bolsa de Valores de LimaPhilippines	Philippine Stock ExchangeRussia	Moscow ExchangeSaudi Arabia	Saudi Stock ExchangeSingapore	Singapore Stock ExchangeSouth Africa	Johannesburg Stock ExchangeSouth Korea	Korea Stock ExchangeSouth Korea	KOSDAQ MarketSri Lanka	Colombo Stock ExchangeTaiwan (Republic of China)	Taiwan Stock Exchange Corporation Taiwan (Republic of China)	Gre Tai Securities MarketThailand	Stock Exchange of ThailandTurkey	Istanbul Stock ExchangeUkraine	Ukrainian Stock ExchangeUruguay	Bolsa de Valores de MontevideoZambia	Lusaka Stock ExchangeZimbabwe	Zimbabwe Stock Exchange-	any of the following markets: International:-The market organised by the International Capital Market Association.

In Canada:-
The over-the counter market in Canadian Government Bonds, regulated by the Investment Industry Regulatory Organisation of Canada.
In Europe:- NASDAQ Europe.
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:- JASDAQ
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
- 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 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 in Turkey on TurkDEXin 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
- Montreal ExchangeFor 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.

Further and in addition to the above, each Fund may invest in any of the following stock exchanges and markets in the event that the Company deems it appropriate and only if the Depositary is able to provide custody and in all cases with the approval of the Central Bank:-
Albania	Tirana Stock Exchange
Armenia	Yerevan Stock Exchange
Costa Rica	Bolsa Nacional de Valores
Ecuador	Guayaquil Stock Exchange
Ecuador	Quito Stock Exchange
Ivory Coast	Bourse des Valeurs d’Abidjan
Jamaica	Jamaica Stock Exchange Kazakhstan (Republic of)	Central Asia Stock Exchange Kazakhstan (Republic of)	Kazakhstan Stock Exchange Kyrgyz Republic	Kyrgyz Stock Exchange
Macedonia	Macedonian Stock Exchange
Papua New Guinea	Lae Stock Exchange
Papua New Guinea	Port Moresby Stock Exchange
Puerto Rico	Stock Exchange in San Juan
Trinidad and Tobago	Trinidad and Tobago Stock Exchange Tunisia	 Bourse des Valeurs Mobilieres de Tunis
Uzbekistan	Toshkent Republican Stock Exchange
Further and in addition to the above, in the event that the Company deems it appropriate each Fund may invest in all derivative exchanges in Liechtenstein on which permitted financial derivative instruments may be listed or traded but only if the Depositary is able to provide custody and in all cases with the approval of the Central Bank.

Translation (ENFR, 2022-07-22):
# ANNEXE 2 – MARCHÉS RÈGLEMENTÉS
La liste ci-après, établie conformément aux exigences de la Banque centrale, recense les Bourses de valeurs et les marchés réglementés reconnus, en fonctionnement régulier et ouverts au public sur lesquels les actifs de chaque Fonds peuvent être investis en tant que de besoin. À l’exception des investissements autorisés en titres non cotés ou en parts d’organismes de placement collectif, les placements se limiteront aux Bourses et marchés ci-dessous. La Banque centrale ne publie pas de liste de bourses de valeurs ou marchés approuvés. Les Bourses et marchés repris dans le Prospectus proviendront de la liste suivante.
- toute Bourse de valeurs qui est :
	- située dans un État membre (à l’exception de Malte) ; ou
	- située dans l’un des pays suivants : Australie, Canada, États-Unis d’Amérique, Hong Kong, Japon, Norvège,Nouvelle-Zélande, Royaume-Uni, Suisse ; ou

- toute bourse de valeurs figurant dans la liste suivante :Argentine	Bolsa de Comercio de Buenos AiresArgentine	Bolsa de Comercio de CordobaArgentine	Bolsa de Comercio de RosarioArgentine	Bolsa de Comercio de MendozaArgentine	Bolsa de Comercio de La PlataBahreïn	Bahrain Stock ExchangeBangladesh	Dhaka Stock ExchangeBangladesh	Chittagong Stock ExchangeBermudes	Bermuda Stock ExchangeBotswana	Botswana Stock ExchangeBrésil	Bolsa de Valores de Rio de JaneiroBrésil	Bolsa de Valores da Bahia-Sergipe-AlagoasBrésil	Bolsa de Valores do Extremo SulBrésil	Bolsa de Valores Minas-Espírito Santo-BrasíliaBrésil	Bolsa de Valores do ParanáBrésil	Bolsa de Valores de Pernambuco e ParaibaBrésil	Bolsa de Valores de SantosBrésil	Bolsa de Valores de São PauloBrésil	Bolsa de Valores RegionalBrésil	Brazilian Futures ExchangeChili	Bolsa de Comercio de SantiagoChili	Bolsa Electronica de Chile Chine (République populaire de)	Shanghai Securities Exchange Chine (République populaire de)	Shenzhen Stock Exchange Colombie	Bolsa de BogataColombie	Bolsa de MedellinColombie	Bolsa de OccidenteÉgypte	Alexandria Stock ExchangeÉgypte	Cairo Stock ExchangeGhana	Ghana Stock ExchangeHong Kong	Hong Kong Futures Exchange LtdHong Kong	Hong Kong Stock ExchangeIslande	Iceland Stock ExchangeInde	Bangalooru Stock ExchangeInde	Calcutta Stock ExchangeInde	Chennai Stock ExchangeInde	Cochin Stock ExchangeInde	Delhi Stock ExchangeInde	Gauhati Stock ExchangeInde	Hyderabad Stock ExchangeInde	Ludhiana Stock ExchangeInde	Magadh Stock ExchangeInde	Mumbai Stock ExchangeInde	National Stock Exchange of IndiaInde	Pune Stock ExchangeInde	The Stock Exchange – AhmedabadInde	Uttar Pradesh Stock ExchangeIndonésie	Indonesia Stock ExchangeIsraël	Tel-Aviv Stock ExchangeJordanie	Amman Financial MarketKenya	Nairobi Stock ExchangeKoweït	Kuwait Stock ExchangeMalaisie	Kuala Lumpur Stock ExchangeÎle Maurice	Stock Exchange of MauritiusMexique	Bolsa Mexicana de ValoresMaroc	Société de la Bourse des Valeurs de CasablancaNigeria	Nigerian Stock Exchange in LagosNigeria	Nigerian Stock Exchange in KadunaNigeria	Nigerian Stock Exchange in Port HarcourtNamibie	Namibian Stock ExchangePakistan	Islamabad Stock ExchangePakistan	Karachi Stock ExchangePakistan	Lahore Stock ExchangePérou	Bolsa de Valores de LimaPhilippines	Philippine Stock ExchangeRussie	Russian Trading SystemArabie Saoudite	Saudi Stock ExchangeSingapour	Singapore Stock ExchangeAfrique du Sud	Johannesburg Stock ExchangeCorée du Sud	Korea Stock ExchangeCorée du Sud	KOSDAQ MarketSri Lanka	Colombo Stock ExchangeTaiwan (République de Chine)	Taiwan Stock Exchange Corporation Taiwan (République de Chine)	Gre Tai Securities MarketThaïlande	Stock Exchange of ThailandTurquie	Istanbul Stock ExchangeUkraine	Ukrainian Stock ExchangeUruguay	Bolsa de Valores de Montevideo
- l’un des marchés suivants : international :le marché organisé par l’International Capital Market Association.

au Canada :
le marché hors cote des obligations d’État canadiennes régi par l’Investment Dealers Association of Canada.
en Europe :
le NASDAQ Europe.
le marché obligataire interbancaire chinois réglementé par la Banque centrale chinoise – la Banque populaire de Chine. au Royaume-Uni :
le marché britannique (i) dirigé par les banques et autres institutions réglementées par la FCA et assujetties aux
dispositions de Conduite interprofessionnelle du Market Conduct Sourcebook de la FCA et (ii) dans les produits de non- investissement qui sont soumis aux directives contenues dans le « Non-investment Products Code » élaboré par les participants aux marché londonien, y compris la FCA et la Banque d’Angleterre (anciennement le « Grey Paper ») ; et
l’AIM (Alternative Investment Market), le marché des placements alternatifs au Royaume-Uni, régi et géré par le London
Stock Exchange ; et
le LIFFE (London International Financial Futures and Options Exchange) ; et
le London Securities and Derivatives Exchange ; en France :
le marché des titres de créances négociables (marché hors cote).
au Japon :
le JASDAQ
en Russie :
Moscow Exchange
à Singapour :
le SESDAQ (marché secondaire de la Singapore Stock Exchange) ; et
le Singapore International Monetary Exchange. aux États-Unis :
le NASDAQ aux États-Unis ; et
le marché des titres d’État américains tenu par des primary dealers réglementés par la Federal Reserve Bank of New
York ; et
le marché hors cote aux États-Unis tenu par des primary dealers et secondary dealers réglementés par la
U.S. Securities and Exchange Commission et la Financial Industry Regulatory Authority Inc. ainsi que par des établissements bancaires réglementés par le U.S. Comptroller of the Currency, le Federal Reserve System ou la Federal Deposit Insurance Corporation ;
- toutes les Bourses de produits dérivés sur lesquelles les instruments financiers dérivés autorisés peuvent être cotés ou négociés :
- dans un État membre (à l’exception de Malte) ;
- dans un État membre de l’Espace économique européen (comprenant l’Union européenne (à l’exception deMalte), la Norvège et l’Islande, à l’exclusion du Liechtenstein) ;en Asie, sur les marchés suivants :
- 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 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 ;en Australie, sur les marchés suivants :
- Australian Stock Exchange ;
- Sydney Futures Exchange ;au Brésil, à la Bolsa de Mercadorias & Futuros ; en Israël, sur le Tel-Aviv Stock Exchange ;au Mexique, sur le MEXDER (Mexican Derivatives Exchange) ; en Afrique du Sud, sur le South African Futures Exchange ;en Suisse sur EUREX en Turquie sur TurkDEXaux États-Unis d’Amérique, sur les marchés suivants :
- 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 ;au Canada
- Montreal ExchangeÀ seule fin de déterminer la valeur des actifs d’un Fonds, l’expression « Marché reconnu » sera réputée inclure, s’agissant des instruments dérivés utilisés par un Fonds, toute Bourse de valeurs ou tout marché organisé sur laquelle/lequel ces instruments sont régulièrement négociés.

En outre et en complément de ce qui précède, chaque Fonds peut investir sur l’un quelconque des Bourses et marchés suivants si la Société le juge utile, à condition toutefois que le Dépositaire puisse agir en tant que tel et, dans tous les cas, sous réserve de l’accord de la Banque centrale :
Albanie	Tirana Stock Exchange
Arménie	Yerevan Stock Exchange
Costa Rica	Bolsa Nacional de Valores
Équateur	Guayaquil Stock Exchange
Équateur	Quito Stock Exchange
Côte d’Ivoire	Bourse des valeurs d’Abidjan
Jamaïque	Jamaica Stock Exchange Kazakhstan (République du)	Central Asia Stock Exchange Kazakhstan (République du)	Kazakhstan Stock Exchange République kirghize	Kyrgyz Stock Exchange
Macédoine	Macedonian Stock Exchange Papouasie-Nouvelle-Guinée	Lae Stock Exchange Papouasie-Nouvelle-Guinée	Port Moresby Stock Exchange Porto Rico	Stock Exchange in San Juan
Trinité-et-Tobago	Trinidad and Tobago Stock Exchange
Tunisie	Bourse des valeurs mobilières de Tunis
Ouzbékistan	Toshkent Republican Stock Exchange
En outre et en complément de ce qui précède, chaque Fonds peut, si la Société le juge utile, investir sur toutes les Bourses de produits dérivés du Liechtenstein sur lesquelles les instruments financiers dérivés autorisés peuvent être cotés ou négociés, à condition toutefois que le Dépositaire puisse agir en tant que tel et, dans tous les cas, sous réserve de l’accord de la Banque centrale.