# Appendix II – Eligible Securities & Derivatives Markets
With the exception of permitted investments in unlisted securities, the Unit Trust will only invest in securities traded on a stock exchange or market which meets with the regulatory criteria (regulated, operated regularly, be recognised and open to the public) and which is listed below.

## For the purpose of the Unit Trust, a market shall be:

## In relation to any Investment which constitutes a transferable security or an exchange traded derivative:
- any stock exchange or market which is:
	- located in any Member State of the EEA; or
	- located in any of the following countries:Australia Canada JapanNew Zealand SwitzerlandUnited States of America; or

- any stock exchange or market included in the following list: Argentina	Bolsa de Comercio de Buenos AiresArgentina	Mercado Abierto Electronico S.A.


## Bahrain	Bahrain Bourse

## Bangladesh	Dhaka Stock Exchange Ltd

## Bangladesh	Chittagong Stock Exchange

## Brazil	BM & F Bovespa SA

## Brazil	Sociedade Operadora Do Mercado De Ativos S.A.

## Chile	Bolsa Electronica De Chile

## Chile	Bolsa de Comercio de Santiago

## Chile	Bolsa de Valparaiso

## China	Shanghai Stock Exchange

## China	Shenzhen Stock Exchange

## Colombia	Bolsa De Valores De Colombia

## Egypt	The Egyptian Exchange

## Ghana	Ghana Stock Exchange

## Hong Kong	Stock Exchange Of Hong Kong Ltd, The

## Iceland	NASDAQ OMX Iceland

## India	Bombay /Mumbai Stock Exchange Ltd

## India	National Stock Exchange of India

## Indonesia	Indonesia Stock Exchange

## Israel	Tel Aviv Stock Exchange

## Jordan	Amman Stock Exchange

## Kazakhstan	Kazakhstan stock exchange

## Kenya	Nairobi Securities Exchange Korea, Republic of	Korea Stock Exchange Kuwait	Kuwait Stock Exchange

## Malaysia	Bursa Malaysia Berhad

## Mauritius	Stock Exchange of Mauritius Ltd, The

## Mexico	Bolsa Mexicana De Valores

## Morocco	Casablanca Stock Exchange

## Nigeria	Nigerian Stock Exchange, The

## Oman	Muscat Securities Market

## Pakistan	Karachi Stock Exchange, The

## Pakistan	Lahore Stock Exchange

## Pakistan	Islamabad Stock Exchange

## Peru	Bolsa De Valores De Lima

## Philippines	Philippine Stock Exchange, Inc.

## Qatar	Qatar Exchange

## Russia	Moscow Exchange

## Saudi Arabia	Tadawul

## Serbia	Belgrade Stock Exchange

## Singapore	Singapore Exchange Limited

## South Africa	JSE Securities Exchange

## Sri Lanka	Colombo Stock Exchange

## Taiwan	Taiwan Stock Exchange Corporation

## Thailand	Stock Exchange of Thailand

## Trinidad and Tobago	Trinidad and Tobago Stock Exchange Turkey	Istanbul Stock Exchange

## United Arab Emirates	Abu Dhabi Securities Market United Arab Emirates	Dubai Financial Market Ukraine	PFTS Stock Exchange

## Uruguay	Bolsa De Valores De Montevideo

## Venezuela	Bolsa De Valores De Caracas

## Vietnam	Hanoi Stock Exchange

## Vietnam	Ho Chi Minh Stock Exchange

## Zambia	Lusaka Stock Exchange
- any of the following:
	- the market organised by the International Capital Market Association;
	- the “listed money market institutions”, as described in the Bank of England publication "The Regulation of the Wholesale Markets in Sterling, Foreign Exchange and Bullion" dated April 1988 (as amended from time to time);
	- the market in US government securities conducted by primary dealers which are regulated by the Federal Reserve Bank of New York;
	- a market comprising dealers which are regulated by the United States National Association of Securities Dealers and the United States Securities and Exchange Commission;
	- NASDAQ in the United States;
	- the over-the-counter market in Japan regulated by the Securities Dealers Association of Japan;
	- the over-the-counter market in the United States regulated by the National Association of Securities Dealers Inc. (also described as 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 National Association of Securities Dealers (and by banking institutions regulated by the US Comptroller of the Currency, the Federal Reserve System or Federal Deposit Insurance Corporation);
	- the French market for Titres de Créances Négotiables (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.

- 	All derivatives exchanges on which permitted financial derivative instruments may be listed or traded:
	- in a Member State;
	- in a Member State in the European Economic Area (European Union, Norway, Iceland and Liechtenstein);
	- in the United States of America, on the
		- Chicago Board of Trade;
		- Chicago Board Options Exchange;
		- Chicago Mercantile Exchange;
		- Eurex US;
		- New York Futures Exchange;
		- New York Mercantile Exchange;


- in China, on the Shanghai Futures Exchange;
- in Hong Kong, on the Hong Kong Futures Exchange;
- in Japan, on the
	- Osaka Securities Exchange;

- Tokyo Financial Exchange Inc.;
- Tokyo Stock Exchange;
- in New Zealand, on the NZX Limited;
- in Singapore, on the Singapore Mercantile Exchange.

PROVIDED THAT the Depositary and the Manager shall be entitled without the sanction of an Extraordinary Resolution to modify this definition by adding to or deleting from the countries, markets and exchanges described above.

## The markets and exchanges described above are set out herein in accordance with the requirements of the Central Bank which does not issue a list of approved markets.

Translation (ENES, 2018-04-30):
# Apéndice II - Mercados de valores y derivados admisibles
Exceptuando las inversiones autorizadas en valores no cotizados, el Fideicomiso de inversiones tan solo invertirá en valores negociados en una bolsa o mercado que cumpla los criterios reglamentarios (regulado, operado con periodicidad, reconocido y abierto al público) que se enumeran a continuación.

## A los efectos del Fideicomiso de inversiones, se entiende por mercado:

## En relación con una inversión que constituya un valor mobiliario o un derivado negociado en bolsa:
- cualquier bolsa de valores o mercado que esté:
	- situado en cualquier Estado miembro del EEE; o
	- situado en cualquiera de los siguientes países:Australia CanadáEstados Unidos de América JapónNueva Zelanda Suiza; o

- cualquier bolsa de valores o mercado incluido en la lista siguiente: Argentina	Bolsa de Comercio de Buenos AiresArgentina	Mercado Abierto Electrónico S.A.


## Baréin	Bahrain Bourse

## Bangladés	Dhaka Stock Exchange Ltd

## Bangladés	Chittagong Stock Exchange

## Brasil	BM & F Bovespa SA

## Brasil	Sociedade Operadora Do Mercado De Ativos S.A.

## Chile	Bolsa Electrónica De Chile

## Zambia	Lusaka Stock Exchange

## Arabia Saudí	Tadawul

## Catar	Qatar Exchange

## Chile	Bolsa de Comercio de Santiago

## Chile	Bolsa de Valparaíso

## China	Shanghai Stock Exchange

## China	Shenzhen Stock Exchange

## Colombia	Bolsa De Valores De Colombia Corea, República de	Korea Stock Exchange

## Egipto	The Egyptian Exchange Emiratos Árabes Unidos	Abu Dhabi Securities Market Emiratos Árabes Unidos	Dubai Financial Market Filipinas	Philippine Stock Exchange, Inc.

## Ghana	Ghana Stock Exchange

## Hong Kong	Stock Exchange Of Hong Kong Ltd, The

## India	Bombay /Mumbai Stock Exchange Ltd

## India	National Stock Exchange of India

## Indonesia	Indonesia Stock Exchange

## Islandia	NASDAQ OMX Iceland

## Israel	Tel Aviv Stock Exchange

## Jordania	Amman Stock Exchange

## Kazajistán	Kazakhstan stock exchange

## Kenia	Nairobi Securities Exchange

## Kuwait	Kuwait Stock Exchange

## Malasia	Bursa Malaysia Berhad

## Marruecos	Casablanca Stock Exchange

## Mauricio	Stock Exchange of Mauritius Ltd, The

## México	Bolsa Mexicana De Valores

## Nigeria	Nigerian Stock Exchange, The

## Omán	Muscat Securities Market

## Pakistán	Karachi Stock Exchange, The

## Pakistán	Lahore Stock Exchange

## Pakistán	Islamabad Stock Exchange

## Perú	Bolsa De Valores De Lima

## Rusia	Moscow Exchange

## Serbia	Belgrade Stock Exchange

## Singapur	Singapore Exchange Limited

## Sri Lanka	Colombo Stock Exchange

## Sudáfrica	JSE Securities Exchange

## Tailandia	Stock Exchange of Thailand

## Taiwán	Taiwan Stock Exchange Corporation Trinidad y Tobago	Trinidad and Tobago Stock Exchange Turquía	Istanbul Stock Exchange

## Ucrania	PFTS Stock Exchange

## Uruguay	Bolsa De Valores De Montevideo

## Venezuela	Bolsa De Valores De Caracas

## Vietnam	Hanoi Stock Exchange

## Vietnam	Ho Chi Minh Stock Exchange
- cualquiera de los siguientes:
	- el mercado organizado por la Asociación Internacional de Mercados de Capitales;
	- las “instituciones del mercado monetario admitidas a cotización”, tal como aparecen en la publicación del Banco de Inglaterra “The Regulation of the Wholesale Markets in Sterling, Foreign Exchange and Bullion” de abril de 1988 (y enmiendas posteriores);
	- el mercado de valores del Tesoro de EE.UU., operado por agentes primarios regulados por el Banco de la Reserva Federal de Nueva York;
	- un mercado compuesto por los intermediarios regulados por la Asociación Nacional de Intermediarios Financieros de los Estados Unidos y la Comisión de Valores y Bolsa de los Estados Unidos;
	- el NASDAQ en Estados Unidos;
	- el mercado extrabursátil de Japón regulado por la Asociación de Intermediarios Financieros de Japón;
	- el mercado extrabursátil de Estados Unidos regulado por la National Association of Securities Dealers Inc. (descrito también como el mercado extrabursátil de Estados Unidos operado por agentes primarios y secundarios regulados por la Comisión de Valores y Bolsa y por la Asociación Nacional de Intermediarios Financieros (y por instituciones financieras reguladas por el Interventor General Monetario de EE.UU., el Sistema de la Reserva Federal o la Federal Deposit Insurance Corporation);
	- el mercado francés de Titres de Créances Négotiables (mercado extrabursátil de instrumentos de deuda negociables);
	- el mercado extrabursátil canadiense de bonos públicos, regulado por la Asociación de Agentes de Inversión de Canadá.

- 	Todos los mercados de derivados en que puedan cotizar o negociarse instrumentos financieros derivados permitidos:
	- de un Estado miembro;
	- de un Estado miembro del Espacio Económico Europeo (Unión Europea, Noruega, Islandia y Liechtenstein);
	- de los Estados Unidos de América, en
		- Chicago Board of Trade;
		- Chicago Board Options Exchange;
		- Chicago Mercantile Exchange;
		- Eurex US;
		- New York Futures Exchange;
		- New York Mercantile Exchange;


- de China, en el Shanghai Futures Exchange;
- de Hong Kong, en Hong Kong Futures Exchange;
- de Japón, en
	- Osaka Securities Exchange;
	- Tokyo Financial Exchange Inc.;
	- Tokyo Stock Exchange;

- de Nueva Zelanda, en NZX Limited;
- de Singapur, en Singapore Mercantile Exchange.

ENTENDIÉNDOSE QUE el Depositario y la Entidad gestora tendrán derecho, sin la sanción de un Acuerdo extraordinario, a modificar esta definición añadiendo o eliminando alguno de los países, mercados y bolsas descritos anteriormente.

## Los mercados y bolsas descritos anteriormente se exponen en la presente conforme a los requisitos del Banco Central, que no publica una lista de mercados aprobados.