# 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 (ENDE, 2022-07-22):
# ANHANG 2 – GEREGELTE MÄRKTE
Im Folgenden werden diejenigen Wertpapierbörsen und Märkte aufgeführt, deren Funktionsweise ordnungsgemäß ist und die anerkannt und für das Publikum offen sind, an denen das Vermögen der einzelnen Fonds von Zeit zu Zeit angelegt werden kann; diese Liste wurde gemäß den Anforderungen der Zentralbank erstellt. Mit Ausnahme der zulässigen Anlagen in nicht notierten Wertpapieren oder Anteilen offener Organismen für gemeinsame Anlagen werden Anlagen auf die nachfolgend aufgeführten Wertpapierbörsen und Märkte beschränkt. Die Zentralbank gibt keine Liste genehmigter Wertpapierbörsen oder Märkte heraus. Die im Prospekt aufgeführten Wertpapierbörsen und Märkte sind der folgenden Aufstellung entnommen:
- Jegliche Wertpapierbörse, die:-- sich in einem Mitgliedstaat (mit Ausnahme von Malta) befindet; oder
- sich in einem der folgenden Länder befindet: Australien, Kanada, Japan, Hongkong, Neuseeland, Norwegen, Schweiz, Vereinigtes Königreich, USA; oder
- Jegliche Wertpapierbörse, die in der folgenden Liste aufgeführt ist: Argentinien	Bolsa de Comercio de Buenos AiresArgentinien	Bolsa de Comercio de CordobaArgentinien	Bolsa de Comercio de RosarioArgentinien	Bolsa de Comercio de MendozaArgentinien	Bolsa de Comercio de La PlataBahrain	Bahrain Stock ExchangeBangladesch	Dhaka Stock ExchangeBangladesch	Chittagong Stock ExchangeBermuda	Bermuda Stock ExchangeBotswana	Botswana Stock ExchangeBrasilien	Bolsa de Valores de Rio de JaneiroBrasilien	Bolsa de Valores da Bahia-Sergipe-AlagoasBrasilien	Bolsa de Valores do Extremo SulBrasilien	Bolsa de Valores Minas-Espírito Santo-BrasíliaBrasilien	Bolsa de Valores do ParanáBrasilien	Bolsa de Valores de Pernambuco e ParaibaBrasilien	Bolsa de Valores de SantosBrasilien	Bolsa de Valores de São PauloBrasilien	Bolsa de Valores RegionalBrasilien	Brazilian Futures ExchangeChile	Bolsa de Comercio de SantiagoChile	Bolsa Electronica de Chile China (Volksrepublik)	Shanghai Securities Exchange China (Volksrepublik)	Shenzhen Stock ExchangeKolumbien	Bolsa de BogataKolumbien	Bolsa de MedellinKolumbien	Bolsa de OccidenteÄgypten	Alexandria Stock ExchangeÄgypten	Cairo Stock ExchangeGhana	Ghana Stock ExchangeHongkong	Hong Kong Futures Exchange LtdHongkong	Hong Kong Stock ExchangeIsland	Iceland Stock ExchangeIndien	Bangalooru Stock ExchangeIndien	Calcutta Stock ExchangeIndien	Chennai Stock ExchangeIndien	Cochin Stock ExchangeIndien	Delhi Stock ExchangeIndien	Gauhati Stock ExchangeIndien	Hyderabad Stock ExchangeIndien	Ludhiana Stock ExchangeIndien	Magadh Stock ExchangeIndien	Mumbai Stock ExchangeIndien	National Stock Exchange of IndiaIndien	Pune Stock ExchangeIndien	The Stock Exchange – AhmedabadIndien	Uttar Pradesh Stock ExchangeIndonesien	Indonesia Stock ExchangeIsrael	Tel-Aviv Stock ExchangeJordanien	Amman Financial MarketKenia	Nairobi Stock ExchangeKuwait	Kuwait Stock ExchangeMalaysia	Kuala Lumpur Stock ExchangeMauritius	Stock Exchange of MauritiusMexiko	Bolsa Mexicana de ValoresMarokko	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 LimaPhilippinen	Philippine Stock ExchangeRussland	Moscow ExchangeSaudi-Arabien	Saudi Stock ExchangeSingapur	Singapore Stock ExchangeSüdafrika	Johannesburg Stock ExchangeSüdkorea	Korea Stock ExchangeSüdkorea	KOSDAQ MarketSri Lanka	Colombo Stock ExchangeTaiwan (Republik China)	Taiwan Stock Exchange Corporation Taiwan (Republik China)	Gre Tai Securities MarketThailand	Stock Exchange of ThailandTürkei	Istanbul Stock ExchangeUkraine	Ukrainian Stock ExchangeUruguay	Bolsa de Valores de MontevideoSambia	Lusaka Stock ExchangeSimbabwe	Zimbabwe Stock Exchange
- Jeglicher der folgenden Märkte: International:-Der von der International Capital Market Association organisierte Markt.

In Kanada:-
Der von der Investment Industry Regulatory Organisation of Canada regulierte Freiverkehrsmarkt in kanadischen Regierungsanleihen.
In Europa:- NASDAQ Europe.
Der von der chinesischen Zentralbank, der People’s Bank of China, regulierte Chinese Inter-Bank Bond Market. Im Vereinigten Königreich:-
Der britische Markt (i), der von Banken und anderen Instituten betrieben wird, die von der FCA reguliert werden und
den „Inter-Professional Conduct“-Bestimmungen im Market Conduct Sourcebook der FCA unterliegen, und (ii) in Nicht-Investmentprodukten, die den im „Non-Investment Products Code“ enthaltenen Richtlinien unterliegen, der von den Mitgliedern des Londoner Marktes, unter anderem der FCA und der Bank of England, erstellt wurde (früher unter der Bezeichnung „The Grey Paper“ bekannt); und
AIM, der von der Londoner Wertpapierbörse regulierte und betriebene Markt für alternative Anlagen im Vereinigten Königreich; und
Die London International Financial Futures and Options Exchange (LIFFE); und Die London Securities and Derivatives Exchange.
In Frankreich:-
Der französische Markt für Titres de Créances Négotiables (Freiverkehrsmarkt für handelbare Schuldinstrumente).
in Japan:- JASDAQ
In Russland:- Moscow Exchange
In Singapur:-
SESDAQ (zweites Segment der Singapore Stock Exchange); und
Die Singapore International Monetary Exchange; In den USA:-
NASDAQ in den USA; und
Der von Primärhändlern unter der Aufsicht der Federal Reserve Bank of New York betriebene Markt in Wertpapieren der US-Regierung; und
Der OTC-Markt in den Vereinigten Staaten, der von Primär- und Sekundärhändlern betrieben wird, die von der Securities and Exchange Commission und von der Financial Industry Regulatory Authority Inc. beaufsichtigt werden (sowie von Bankinstituten, die vom U.S. Comptroller of the Currency, dem Federal Reserve System oder der Federal Deposit Insurance Corporation beaufsichtigt werden).
- Alle Derivatbörsen, an denen zulässige Derivate notiert oder gehandelt werden können:
- in einem Mitgliedstaat (mit Ausnahme von Malta);
- in einem Mitgliedstaat des Europäischen Wirtschaftsraums (Europäische Union (mit Ausnahme von Malta), Norwegen und Island, jedoch unter Ausschluss von Liechtenstein):in Asien an der
- 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 Australien an der
- Australian Stock Exchange;
- Sydney Futures Exchange;In Brasilien an der Bolsa de Mercadorias & Futuros; In Israel an der Tel-Aviv Stock Exchange;In Mexiko an der Mexican Derivatives Exchange (MEXDER); In Südafrika an der South African Futures Exchange;In der Schweiz an der EUREX In der Türkei an der TurkDEX In den USA an der
- 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 Kanada an der
- Montreal ExchangeAusschließlich zur Bestimmung des Werts der Vermögenswerte eines Fonds beinhaltet der Begriff „anerkannte Börse“ in Bezug auf alle von einem Fonds eingesetzten derivativen Instrumente alle organisierten Wertpapierbörsen oder Märkte, an denen diese derivativen Instrumente regelmäßig gehandelt werden.

Ferner darf jeder Fonds an den folgenden Wertpapierbörsen und Märkten anlegen, wenn die Gesellschaft dies für angemessen hält; jedoch nur, wenn die Verwahrstelle in der Lage ist, Verwahrdienstleistungen anzubieten. In allen Fällen ist die Zustimmung der Zentralbank erforderlich:-
Albanien	Tirana Stock Exchange
Armenien	Yerevan Stock Exchange
Costa Rica	Bolsa Nacional de Valores
Ecuador	Guayaquil Stock Exchange
Ecuador	Quito Stock Exchange
Elfenbeinküste	Bourse des Valeurs d’Abidjan
Jamaica	Jamaica Stock Exchange Kasachstan (Republik)	Central Asia Stock Exchange Kasachstan (Republik)	Kazakhstan Stock Exchange Kirgisische Republik	Kyrgyz Stock Exchange
Mazedonien	Macedonian Stock Exchange
Papua-Neuguinea	Lae Stock Exchange
Papua-Neuguinea	Port Moresby Stock Exchange
Puerto Rico	Stock Exchange in San Juan
Trinidad und Tobago		Trinidad and Tobago Stock Exchange Tunesien	Bourse des Valeurs Mobilieres de Tunis
Usbekistan	Toshkent Republican Stock Exchange
Ferner können die einzelnen Fonds, sofern dies von der Gesellschaft als angemessen angesehen wird, an allen Derivatbörsen in Liechtenstein investieren, an denen zulässige derivative Finanzinstrumente notiert und gehandelt werden können; jedoch nur, wenn die Verwahrstelle in der Lage ist, Verwahrdienstleistungen anzubieten. In allen Fällen ist die Zustimmung der Zentralbank erforderlich.