There are three categories of membership that determine the type of business which members may conduct. In addition to Membership category, a member's status as a clearer will also impact the type of business they may conduct.

Transact own** business and business for clients (whether such clients are other Members or non-Members).

Transact own** business or affiliate business only.

To transact own business and business for other Individual Participants (provided such business is only allocated to the relevant Individual Participant requesting the execution).

*General Participant and Trade Participant categories of membership must either be clearing members or, as non-clearing members, must enter into a clearing agreement with a General Participant who is a clearing member. An Individual Participant cannot be a clearing member and, as a non-clearing member, must enter into a clearing agreement with a General Participant who is a clearing member.

**It is understood that "Own" business is business transacted solely for the benefit of that Member, a wholly owned subsidiary of that Member, the parent company of that Member, or a company in that Member's group of companies. Such business undertaken by a Member on behalf of another group company must not in turn be business undertaken on behalf of a third party.