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					Product Disclosure Statement – Forex & Forex Options and CFDs
GENERAL INFORMATION
This Product Disclosure Statement was prepared by Global Futures & Forex, Ltd (GFT) ARBN 103 508 461
Australian financial services licence number 226625 on 30 March 2012.

You can contact us using the following contact details:
Global Futures & Forex, Ltd.

Suncorp Place
259 George St., Level 29, Suite 4
Sydney, NSW 2000
Australia
Fax: 02. 9028. 7555
E–mail contact: info@gft.com.au

TABLE OF CONTENTS
Section                                                                                                                     Page reference

PDS SUMMARY                                                                                                                              2
Benchmark Summary                                                                                                                        4
   1. What is a Product Disclosure Statement?                                                                                            5
   2. Introduction to GFT                                                                                                                5
   3. Dispute resolution                                                                                                                 6
   4. No cooling off period                                                                                                              6
   5. Privacy                                                                                                                            7
   6. Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Regulation                                                         7
   7. Costs and amounts payable for Trading with GFT                                                                                     7
      • Part 1: Costs and amounts payable for all products offered under this PDS (Forex Contracts, Forex Options, and
           CFDs)
      • Part 2: Additional costs and amounts payable for Forex Contracts and Forex Options only
      • Part 3: Additional costs and amounts payable for CFDs only

   8. Commissions                                                                                                                       10
      • Part 1: Commissions for Forex
      • Part 2: Commissions for CFD Trading
   9. Trading electronically or by telephone                                                                                            10
   10. Trading hours                                                                                                                    11
   11. Counterparty Risk                                                                                                                11
   12. Holding your money                                                                                                               12
   13. Bankruptcy                                                                                                                       12
   14. Payment to GFT                                                                                                                   12
   15. Significant tax considerations                                                                                                   13
   16. How to start trading                                                                                                             14
   17. Principal risk factors                                                                                                           19
      • Part 1: Risks applying to all products offered under this PDS (Forex Contracts, Forex Options, and CFDs)
      • Part 2: Risks specifically applying to Forex Contracts
      • Part 3: Risks specifically applying to Forex Options
      • Part 4: Risks specifically applying to CFDs
   18. Forex contracts & Forex Options Investing: The Basics                                                                             25
   19. Net Based and Position Based Forex Trading                                                                                        26
   20. Worked Examples - Forex Contracts and Forex Options                                                                               27
      • Example 1: Spot Contract
      • Example 2: Leveraged Spot Contract
      • Example 3: Forward Contract
      • Example 4: Forex Option
   21. Contracts for Difference (CFD): The Basics                                                                                        29
   22. Worked examples for CFDs                                                                                                          31
      • Example 1: Equity CFD
      • Example 2: Stock Index CFD
      • Example 3: Metal CFD
      • Example 4: Foreign exchange CFD
   23. Glossary of Terms                                                                                                                 33
Annexure 'A' - Market Information Sheets                                                                                                 38
                                                                                                                    PDS - CFD AND FOREX (Aus English): 3/30/2012
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PDS SUMMARY
This summary outlines some key questions that are answered in this PDS. However, you should ensure that you read and understand this PDS in its
entirety before investing in the Forex Contracts, Forex Options, and CFDs that we offer.

Issue                    Summary                                                                                      For more information, see:

Who is the issuer of     The issuer of this PDS is GFT, a US private company which holds an Australian                Section 2 of the PDS (pg. 4)
this PDS?                financial services licence (AFSL) authorising it to conduct financial business in
                         Australia to deal in, make a market in, and provide general financial product advice in
                         respect of Derivatives, such as Forex Options, CFDs and Foreign Exchange
                         Contracts, such as Forex Contracts.


What is a Forex          A Forex Contract is essentially a contract under which the parties agree to exchange,        Section 18 of the PDS (pg. 24)
Contract?                on the expiration of the contract, the cash difference between the Opening Price and
                         the Closing Price of an Underlying Currency. The Forex Contracts we offer are over-
                         the-counter financial products that give the holder Exposure to an Underlying
                         Currency. Like other Derivatives, Forex Contracts allow investors to participate in the
                         returns from movements in an Underlying Currency, without the need to own it.


What is a Forex          A Forex Option is a contract that gives the Option buyer the right to buy or to sell a       Section 18 of the PDS (pg. 24)
Option?                  predetermined amount of a particular Currency against another Currency at a
                         predetermined price (rate).


What is a CFD?           A contract for difference (CFD) is a contract with GFT to exchange, on the maturity or       Section 21 of the PDS (pg. 27)
                         termination of the contract, the difference between the opening and closing values of
                         an Underlying Asset, multiplied by the number of CFDs in the contract. CFDs can be
                         contracts with a share, Stock Index, bond, interest rate, Commodity or Foreign
                         Currency as the Underlying Asset.


What are the costs       The costs involved in trading with GFT will vary depending on the type of account            Section 7 of the PDS (pg. 6) for
involved with Forex      opened and product traded in. Costs may include:                                             costs and amounts payable) and
Contracts, Forex         •    Minimum opening deposit requirements, fees and other costs or charges for               Section 16 of the PDS (pg. 13) on
Options, and CFDs?            trading as described in Section 7;                                                      how to start trading with GFT
                         •    Margin; and
                         •    Dealer Spread.

                                                                                                                      Section 17 of the PDS (pg. 18)
How are Forex            GFT operates a 'market maker model' which means GFT determines the buy and sell
Contracts, Forex         prices of the Forex Contracts, Forex Options, and CFDs that it offers. There are a
Options, and CFDs        number of factors that will affect the prices GFT determines. For example, prices of
priced?                  Forex Contracts, Forex Options and CFDs can substantially increase or decrease
                         without notice (volatility risk) as a result of factors such as changes in interest rates,
                         supply and demand relationships and foreign Exchange Rates. Another example of a
                         factor which GFT considers in determining the prices for Forex Contracts, Forex
                         Options and CFDs is the risk of illiquidity.


What are the risks       As with all leveraged investments, trading in Forex Contracts, Forex Options, and            Section
involved in trading      CFDs can be risky and is not suitable for everyone. There are a number of types of           17 of the PDS
Forex Contracts,         risk that you should be aware of before beginning to trade, including the possibility of     (pg. 18)
Forex Options, and       losing more money than you invest. Some of these types of risk include:
CFDs?                    •      leverage risk;
                         •      market risk;
                         •      counterparty risks;
                         •      Margin risk;
                         •      Gapping risk – resulting from time delays between placement of and execution
                                of trade Orders;
                         •      FX risk;
                         •      External market price risk;
                         •      technological risks; and
                         •      interest risk.




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What are the benefits
involved in trading     Some of the benefits involved in trading in Forex Contracts, Forex Options, and          Sections 16(b) (pg. 13) , 18
Forex Contracts,        CFDs include:                                                                            (Forex Contracts and Forex
Forex Options, and      •   the capacity to take Long and Short Positions;                                       Options) (pg. 24) , 21 (CFDs) (pg.
CFDs with GFT?                                                                                                   27).
                        •   the ability to Leverage;
                        •   the ability hedge market Exposure; and
                        •   the ability to trade in smaller increments and in markets otherwise not available
                            to the traditional investor.



What are Long and       An investor will take a "Long Position" where they buy something, normally with the      Glossary, Section 24 (pg. 33)
Short positions?        expectation that it will increase in value and will take a "Short Position" where they
                        sell something, normally with the expectation that it will decrease in value.


What is Margin?         Margin is the amount of money that must be held in your Account to maintain all          Section 16 of the PDS (pg. 13)
                        Open Positions.


What is a Margin        A Margin Call is a claim by your Broker or Dealer for additional good faith              Section 16 and Section 20 of the
Call?                   performance monies usually issued when your Account suffers adverse price                PDS (pg. 13 & pg. 25)
                        movements. After opening a CFD or FX contract position, if the market goes against
                        you and your net equity (that is, the money deposited in your account, together with
                        the value of your Open Positions) falls below the required Margin Requirement, you
                        will receive a Margin Call and may be closed out of your position..


How do I open an        Prior to opening an account with GFT you should ensure that you have read this           Section 16 of the PDS (pg. 13)
account with GFT?       PDS, our Financial Services Guide (FSG) and the GFT Account Agreement and
                        understand the products offered through this PDS. After doing this, if you are
                        satisfied that trading in these products is appropriate for you, you can open an
                        account by completing the Application Form available via our website www.gft.com.au


How do I trade with     You may trade with GFT through GFT's electronic trading system known as                  Section 9 of the PDS (pg. 9)
GFT?                    DealBook or by calling the dealing desk on +61 2 9028 7500 or 1800 62 40 80.


What are the tax        The tax consequences of trading in our products will vary depending on a person's        Section 15 of the PDS (pg. 22)
consequences of         individual circumstances and whether they are traded on a revenue or capital
trading in our          account.
products?

How can I contact       Accessing our website: www.gft.com.au                                                    Front cover of the PDS (pg. 1)
GFT?
                        By email:
                        info@gft. com. au

                        By telephone (Customer Service Department):
                        +61 2 9028 7500

                        By facsimile:
                        +61 2 9028 7555

                        By mail:
                        Suncorp Place
                        259 George St., Level 29, Suite 4
                        Sydney, NSW 2000, Australia




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 BENCHMARK SUMMARY

 The Australian Securities & Investments Commission ("ASIC") released Regulatory Guide 227 - Over-the-counter contracts for difference: Improving
 disclosure for retail investors ("RG 227") in August 2011. In RG 227 ASIC has identified seven disclosure benchmarks for over-the-counter contracts for
 difference and equivalent products ("OTC CFDs") to help retail investors understand the risks associated with these products, assess their potential
 benefits and decide whether investment in the products is suitable for them. This table outlines GFT's compliance with these benchmarks and provides
 cross-references to other sections of the PDS where more information can be found.



Benchmark                                                                         Does GFT meet the benchmark?                        Where can you find more
                                                                                                                                      information in the PDS?
Benchmark 1: Client qualification - requires an issuer to           Yes                                                               Section 16
maintain and apply a written client qualification policy that
sets out minimum qualifications criteria investors need to
demonstrate and outlines the process in place to ensure that
investors who do not meet the minimum qualification
criteria are not able to open an account/ trade.

Benchmark 2: Opening collateral - requires an issuer to             No: GFT will allow customers to open accounts using certain       Section 14
only accept cash/cash equivalents from investors as opening         non-cash assets including credit cards for payments of over
collateral.                                                         $1,000. This is because credit card payments are a convenient
                                                                    and sought-after method of payment for GFT's customers.
                                                                    Please visit the Deposit Funds page on the GFT website for
                                                                    details of the credit card deposit limits set by GFT. Clients
                                                                    should be aware that using a credit card to fund your
                                                                    account may pose the risk of double leverage from the
                                                                    combined effect of using a credit card facility to fund a
                                                                    leveraged trading account.
Benchmark 3: Counterparty risk—Hedging - requires an                Yes                                                               Sections 11and 13
issuer to maintain and apply a policy to manage its
exposure to market risk from client positions, which
includes the factors it takes into account when determining
if hedging counterparties are of sufficient financial standing
and sets out the names of hedging counterparties as they
stand from time to time.


Benchmark 4: Counterparty risk—Capital - requires an                Yes                                                               Sections 11, 13, and 17(m)
issuer to maintain and apply a written policy addressing
how the issuer monitors its compliance with AFSL financial
requirements and how the issuer conducts stress testing to
ensure it holds sufficient liquid funds to withstand
significant adverse market movements. This to minimize
the risk that an issuer holds insufficient capital to address its
exposure to risk and ensure that the issuer has sufficient
resources to meet its liabilities without needing to have
recourse to client monies.

Benchmark 5: Client money - maintain and apply a policy             Yes                                                               Sections 12 and 13
on its use of client money, including whether it relies on
funds deposited by one investor to meet the margin or
settlement requirements of another.



Benchmark 6: Halted or suspended underlying assets -                No: as a market maker, GFT may permit new Positions to be         Section 17(1)(j).
when trading on the underlying asset is halted or otherwise         opened when an Underlying Asset is suspended or halted, as this
suspended, requires that the issuer should not allow new            may, depending on the particular circumstances, be in the
CFD positions to be opened.                                         interests of GFT and its clients.



Benchmark 7: Margin calls - requires issuer to have                 Yes                                                               Section 16(d) and 17(1)(h)
written policy about its margining practices, including
details on how the issuer will monitor client accounts, what
rights the issuer may exercise in relation to client accounts,
when the issuer will exercise these rights and what factors it
will take into account in deciding whether to exercise those
rights. This benchmark also requires issuers to take
reasonable steps to notify investors before closing out
positions.

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 1. WHAT IS A PRODUCT DISCLOSURE STATEMENT?
We are required to provide you with a PDS under the Corporations Act 2001.
This PDS includes important information about particular financial products we may provide to you. For the purposes of this PDS, those financial products are
Forex Contracts, Forex Options,and CFDs. This PDS includes information regarding the: significant benefits; significant risks; costs; and significant
characteristics, features, rights, terms, conditions and trading obligation, of Forex Contracts, Forex Options and CFDs.
 2. INTRODUCTION TO GFT
GFT is registered as a foreign company in Australia. GFT holds an AFSL and is authorised to conduct a financial services business in Australia to deal,
make a market, and provide general financial product advice in respect of Derivatives, such as CFDs and Foreign Exchange Contracts, such as
Forex Contracts.

GFT acts as a principal in the trades you enter into (that is the counterparty to your transactions) and either buys or sells the Forex Contracts, Forex
Options, and CFDs sought by you.

The Forex Contracts, Forex Options, and CFDs in which GFT deals, makes a market and advises on in this PDS are Foreign Exchange Contracts and
Derivatives for the purposes of the Corporations Act 2001.

GFT began operations in May 1997 in the US. Its purpose was to act as an introducing broker in the commodities futures industry. In the US, GFT is a FCM
regulated by the CFTC. GFT was formed by Gary L. Tilkin, who is President and Chief Executive Officer of GFT. Mr. Tilkin is registered as an Associated
Person with the NFA in the US and has been employed in the commodities and futures industry since 1978.

In April 2003, Mr. Tilkin successfully completed the Australian Financial Markets Association's Accreditation Program (Individual Assessment). Mr. Tilkin has
also been awarded the Australian recognised qualification of a Diploma in Financial Services in relation to Derivatives and foreign exchange.

Mr. Tilkin is a responsible manager of GFT for the purpose of GFT's Australian operations.

Under its AFSL, GFT is authorised to give you general financial product advice. GFT is not authorised to (and will not) give you personal financial product
advice. Personal financial product advice is advice that takes into account your personal financial objectives, situation and needs. No part of this PDS
constitutes a recommendation or opinion that takes into account your financial objectives, situation or needs in providing information in relation to the
products detailed in this PDS.

No persons have been authorised by GFT (other than its employees and/or authorised representatives) to give any information or to make any
representations not contained in this document and, if given or made, such information or representations may not be relied upon in making a decision to
use GFT's facilities or to trade in its financial products.

Neither the contents of this document nor any prior or subsequent communications from GFT or any of its officers, agents, representatives and/or
directors, should be construed as constituting personal financial, legal, tax or any other advice.

Prospective investors are urged to consult with their own advisers as to financial, legal, tax and/or other related consequences of investing in the products
offered pursuant to this PDS.

Suitability of GFT's products
The investments detailed in this PDS involve a high degree of risk and the risk of loss in trading such products can be substantial. You should carefully
review this document and make any necessary inquiries prior to investing. If you do not fully understand the products being offered under this PDS you
should not trade in these products.

In considering whether to invest, you should also take into account that a high degree of Leverage is often associated with trading the products offered
pursuant to this PDS. This means that you are able to outlay a relatively small amount of Capital to secure an Exposure to the Underlying Security. While the
use of Leverage can be advantageous, it may also expose you to substantial financial losses. Accordingly, you should carefully consider your financial
objectives, situation and needs and whether such investments are suitable for you in light of your financial ability to take such risk.

You should also consider the risks involved in trading in light of your age, experience, financial objectives and resources, dependence on liquid assets, and
other relevant circumstances. GFT does not provide personal advice. Any advice GFT may provide to you is general advice only. GFT does not take into
consideration your personal financial objectives, situations or needs. You should consult your professional advisers before considering trading in any of
the products offered under this PDS.

GFT does not guarantee that you will receive any return on your investments or that you will not lose some, all or additional sums of your
capital. GFT considers that all funds used for, and added to, your Account for Forex Contracts, Forex Options, or CFD trading, should derive
from Capital that has been set aside strictly for speculative investment purposes. All such funds used for speculative investing should be
considered as disposable income by you and any loss of this money should not affect your lifestyle.

Monetary amounts
All monetary amounts expressed in this PDS are, unless specifically expressed to the contrary, in USD.

For the purposes of calculating your Account Balance, and all other relevant matters, we will convert any relevant currencies into your Base Currency. Any
calculation affecting your Account will be made in your Base Currency.

All amounts payable to us must be made in your Base Currency or may be subject to a conversion charge as discussed in section 7 below.




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Retention of this document
You should keep the most recent PDS, GFT's Financial Services Guide and any documents or information that GFT provides to you. You should
reconsider the information contained in all these documents in deciding whether to acquire or to continue to hold the relevant financial product or as your
financial circumstances change over time. The current version of this PDS will be posted on GFT’s web site, and any changes in this PDS shall be
effective immediately upon posting of such changes on GFT's website or the issue of a supplementary or new PDS (where relevant).

Fee Schedule
A Fee Schedule is listed in Section 7 of this PDS. The information regarding the Market Information Sheets attached as Annexure A to this PDS provides
a summary of the financial markets which form the basis for the Underlying Asset or Instrument which the financial products offered in this PDS are
based upon.
The Fee Schedule and Market Information Sheet attached to this PDS are accurate as of the date of this PDS. The information in the Fee Schedule and
the Market Information Sheets is subject to change from time to time, subject to providing existing clients with 30 days' prior notice of any change that that
is an increase in fees. All changes that are materially adverse to investors, that is, changes of a material and extraordinary nature, which may be
reasonably likely to have a material influence on a decision of a reasonable client to trade, will be disclosed by way of a supplementary PDS (SPDS) or
new PDS. Otherwise, any changes in fees and costs that are not materially adverse to investors, for example changes made as a result of the day-to-
day Volatility of the regular market functioning will not require the issue of a SPDS or new PDS and will be notified to investors on our web-site on the
day the change becomes effective . Updated Fee Schedule and Market Information Sheets are available on GFT's website at
http://documents.gftforex.com/Fee_Schedule_AUD_AUS_FX.pdf and http://www.gft.com.au//Range-of-Markets/CFD-Pricing/Default.aspx

A paper copy of any updated Fee Schedule or Market Information Sheet will be provided to you without charge upon your request.

Governing law
By entering into the GFT Account Agreement(s), you agree that all contracts and transactions and any dispute directly or indirectly related to that
agreement, the trading (including Orders) of financial products offered by GFT will be governed and construed in accordance with the laws of Australia. For
Australian investors, GFT's dispute resolution procedure is set out in section 3 of this PDS.

The Offer made in this PDS is only available to persons receiving it (electronically or otherwise) in Australia.

Should you receive any part of this PDS outside Australia it does not constitute an Offer or Invitation in relation to trading contracts in any place which, or to
any person to whom, it would not be lawful to make such an Offer or Invitation. Distribution of any part of this PDS in jurisdictions outside Australia may be
restricted by law. Persons outside Australia in possession of any part of this PDS should seek further advice as it may be unlawful for such persons to
participate in the Offer which is the subject of this PDS. GFT reserves the right to reject investors who it considers cannot participate in the Offer the subject
of this PDS or that it may be unlawful for it to accept this investor.

Are labour standards or environmental, social or ethical considerations taken into account?
GFT does not specifically take labour standards or environmental, social or ethical considerations into account in the selection, retention or realisation of Forex
Contracts, Forex Options, and CFDs.

Phone Calls
All calls may be recorded for training and customer service reasons.
 3. DISPUTE RESOLUTION
If you wish to make a complaint about GFT's services, please contact our Customer Service Department on +61.2.9028.7500 or via our web site:
http://www.gft.com.au/contact/.

GFT will deal with your complaint as in the manner set out below:
•   You can make a complaint in writing or by speaking to one of GFT's representatives.
•   When we receive a complaint from you, GFT has policies and procedures in place to ensure that your complaint will be immediately notified to our
    Compliance Officer. Our representative will try to resolve your complaint at this stage.
•   In all circumstances, GFT will attempt to resolve your complaint within 14 business days from the date you make the complaint. If your complaint
    cannot be resolved within this timeframe GFT will provide you with a written explanation and an estimated timeframe of when GFT anticipates
    being able to resolve your complaint.
•   If the representative to whom you make the complaint is unable to resolve the complaint to the satisfaction of both parties, an officer of GFT's
    Compliance Department will attempt to resolve the complaint with you.
•   If you are not satisfied with the outcome of our complaint resolution procedures, you have the right to contact GFT's external dispute resolution
    scheme:

          The Financial Ombudsman Service
          (FOS) GPO Box 3 Melbourne VIC
          3001
          (Ph 1300 78 08 08)

          FOS is a free service. FOS will facilitate discussions and negotiations between the parties. At this stage the issues that are in dispute will be
          identified. If the dispute cannot be resolved through discussion, FOS will facilitate conciliation between the parties. The conciliator will
          attempt to assist the parties to settle the dispute and agree on the terms of such settlement. If conciliation does not facilitate settlement of the
          dispute, FOS will appoint an independent adjudicator to make a decision taking into account relevant law, fairness and reasonableness. As a
          member of FOS, any decision by the adjudicator is binding on GFT. The adjudicator's decision will only be binding on you if you agree.

          You can also call ASIC on 1300 300 630 to find out about your rights to complain or to make a complaint.

 4. NO COOLING OFF PERIOD
There is no cooling off period once we have accepted any trade from you.


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 5. PRIVACY
When you complete the application form, GFT will be collecting personal information from you. This information will be used to establish and support the
ongoing administration of your Account, to advise you of new developments relevant to your Account and to comply with Australian laws and regulations. In
particular, GFT is required by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to collect certain personal information about you. GFT
will not be able to process your application or administer your Account if you do not provide us with your personal information. GFT may disclose
your personal information to external parties which provide services to us in relation to your Account, or the trading of Forex Contracts, Forex Options, and
CFDs, or to a government or regulatory body (such as ASIC or the ATO) or upon a court order. GFT will also disclose information about your Account to your
financial adviser or your authorised representative whose names you have previously provided to GFT. Otherwise, GFT will not disclose your personal
information to any other external parties unless required by law.

In many circumstances you can request access to the personal information held by GFT about you. Sometimes, it is not possible for GFT to give you access, in
which case GFT will explain why. You may also ask GFT to correct information which GFT holds about you which is inaccurate, incomplete or out of date. Our
full privacy policy is available on our website at http://documents.gftforex.com/Privacy_Policy_AUS_FX.pdf
 6. ANTI-MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING (AML/CTF)
    REGULATION
Following the implementation of the AML/CTF Act in Australia, GFT is obliged to conduct adequate customer identification prior to opening a trading account
with you. This procedure will involve collecting from you certain customer information such as your name, address and date of birth and verifying this
information through identification documentation such as your driver's licence. Throughout the course of your relationship with us, there may be times where
we may collect additional information from you pursuant to GFT's AML/CTF obligations.

In circumstances where it is reasonable for GFT to suspect that there may be a breach of applicable laws or regulations, GFT may decide to refuse any
transactions on your account or to freeze your funds. If this occurs, GFT will not be held liable for any losses you may incur as a result of such actions.
 7. FEES AND COSTS PAYABLE FOR TRADING WITH GFT
Part 1: Costs and amounts payable for all products offered under this PDS            (Forex Contracts, Forex Options, and CFDs)
     a)   Minimum Opening Deposit Requirement
          All deposits are accounted for in the Base Currency chosen for that Account. When depositing funds into your GFT account, please send the
          same Currency as the Base Currency of your GFT account. Your bank will often convert your funds for a nominal charge.

          If you deposit funds in a Currency other than the Base Currency of your GFT account, GFT will convert your funds to your Base Currency. The
          conversion rate will be the current GFT Ask (Buy) rate plus a conversion Premium of up to 3%. This Premium covers the cost of purchasing small
          and uneven amounts of physical Currency from other parties. Incurring this Premium will reduce the net amount of funds deposited.

          You must deposit at least AUD 225.00 with GFT to open an Account. Some types of Accounts may only be opened using a specific Base
          Currency.

     b)   Fees
          The fees and costs which GFT may apply to an Account are disclosed in this section and are accurate as of the date of this PDS. These fees
          and costs can be changed by GFT under the GFT Account Agreement subject to providing existing clients with 30 days' prior notice of any
          increase in fees and costs. Accordingly, the Fee Schedule may be updated from time to time by GFT publishing an updated version of the Fee
          Schedule on its website at http://documents.gftforex.com/Fee_Schedule_AUD_AUS_FX.pdf. When fees are increased, a notice regarding the
          increase will be posted on www.gft.com.au 30 days' prior to the increase taking effect. All changes to information in this PDS, including in
          relation to fees and costs, that are materially adverse to investors, that is, changes of a material and extraordinary nature, which may
          reasonably be likely to have a material influence on a decision of a reasonable client to trade, will be disclosed by way of a Supplementary
          PDS or new PDS.

          GFT charges no fees for opening or closing Accounts, monthly maintenance or withdrawing funds unless a wire transfer or overnight cheque is
          requested.

          The following fees apply to all products offered under this PDS:
          •     A charge of AUD 55.00 (or the Base Currency equivalent) will be debited from your Account when your cheque is not honoured due to
                insufficient funds or a stop payment order has been issued. A schedule of fees for other Base Currencies is set out in the Fee Schedule.
          •     Customer accounts will be subject to a monthly inactivity fee if no trading activity has occurred for a period of 60 days or more. Trading
                activity is defined as the opening and/or closing of a position or maintaining an open position during that period. A monthly inactivity fee of
                AUD 60.00 and any additional applicable fees will be charged to these inactive Accounts.
          •     All banking fees, including but not limited to wire transfers, stop payments, and returned cheques are your responsibility and will be
                charged to your Account.
          •     GFT may, on occasion, initiate new fees, as they become necessary to the proper functioning of GFT. Notice of such fees will be posted
                on GFT's website, accessible by you at any time.
          •     You are responsible for the payment of all fees to GFT arising out of your relationship with GFT. Your Account will be automatically
                debited with the amount of such fees that are not settled or paid as required.
          You agree, by entering into the GFT Account Agreement, to pay all reasonable fees incurred by GFT, to maintain your Account. This is true of
          all fees, including but not limited to, the fees set out in this PDS. You also agree to be liable to GFT for interest on amounts due to GFT at an
          interest rate equal to four (4) percentage points above the Reference Rate or the maximum interest rate allowed by law, if lower.
          The fees below are not necessarily all payable by Australian Investors.




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     Processing Fees:

     Inactivity Fee                                                               AUD 60.00

     Returned Check Fee                                                           AUD 55.00
     Stop Payment Fee                                                             AUD 60.00
     Wire Fee within Australia                                                     AUD 5.00
     Wire Fee – International                                                     AUD 20.00


     Service Fees:
     Customers must fill out a subscription form and pay the applicable service fee each month to receive the service. Service fees will be charged in
     the Base Currency of the relevant Account. The services listed in the table are trading or analysis tools which may be utilised by customers in
     conjunction with other DealBook tools and functions. This table sets out the monthly fee charged by GFT for each of the services listed
     below.


     Dinapoli Tools                                               AUD 95.00

     FX 360 (12 mos.)                                           No charge


c)   Additional Costs applying to all products offered under this PDS (Forex and CFDs)
     GFT is compensated by revenues from its activities as a Dealer. This includes proceeds from buying, selling, converting, as well as holding
     currencies and interest on deposited funds and rollover fees. These fees and costs may be, and often are, substantial. Accordingly, your
     Account must earn substantial trading profits to avoid depletion of assets due to such fees and costs. You will be responsible for bearing any
     expenses, losses, commissions and fees that result from GFT maintaining your Account.
     Under the terms of the GFT Account Agreement you must pay to us any and all costs and expenses (such as bank charges, court fees, legal
     expenses) we pay or incur because you fail to pay amounts due on time or which we incur in enforcing our rights against you.

     Dealer Spread
     •        The Dealer Spread is essentially the difference between the buy and sell price quoted by GFT as Dealer. As the Dealer, GFT may
              profit from part, all, or more than the Dealer Spread, which can be calculated at any given time by you by comparing the Bid and Offer
              prices quoted by G FT.
     •        For example, GFT currently quotes an Exchange Rate of EUR/USD 1.19100/1.19130 to all of its clients. Client A wishes to buy
              100,000 EUR/USD at the price of 1.19130. Client B wishes to sell 100,000 EUR/USD at the price of 1.19100. When both clients buy
              and sell GFT, as the market maker, sells to one client at 1.19130 and buys from another client at 1.19100 making 3 Pips on the
              Spread.
     •        In the case of a CFD transaction it may be that GFT currently quotes a price of 5638/5646 for the AUS200 market to all of its clients.
              Client A wishes to buy AUD10 AUS200 at the price of 5646. Client B wishes to sell AUD10 AUS200 at the price of 5638. When both
              clients buy and sell GFT, as the market maker, sells to one client at 5646 and buys from another client at 5638 making 8 Pips on the
              Spread. When trading with GFT, where no commission is applicable, GFT may receive benefit from the Dealer Spread. A Dealer
              Spread represents a benefit to GFT and may negatively impact the profitability of your Account.

     Buying, selling, converting
     •        GFT may obtain benefit from Offsetting your position in a Currency Pair if the market moves favourably in respect of the relevant
              Currency Pair or by using Arbitrage to buy or sell the relevant Currency Pair with a narrower Spread. For example, GFT sells
              EUR/USD to a client at 1.19130. However, GFT entered the open spot EUR/USD market and bought EUR/USD at 1.19090. In this
              example, GFT would obtain a benefit of 4 Pips on the sale of EUR/USD to the client. Note that this is not a fee or a charge paid by
              client; it is simply GFT Offsetting the trade at a better rate than the price received by the customer.

     Negative account balances
     •         Numerous transactions may be required to stabilise your Account and such transactions may result in fees that overtake the
               value/assets of your Account. Should such an event occur, you are responsible for paying such fees within a designated period of
               time. Failure to satisfy this requirement may result in your positions being Liquidated at a loss to cover such fees. Further, where funds
               maintained in your Account are insufficient to meet losses, fees and other charges, you will be required to bring your Account to a zero
               balance, at least, within forty eight (48) hours after the occurrence and you agree to be liable to GFT for interest on amounts due from
               you to GFT at an interest rate equal to four (4) percentage points above the Reference Rate or the maximum interest rate allowed by
               law, if lower. If you fail to bring your Account to a zero balance, at least, within forty eight (48) hours after the occurrence, you will be
               subject to legal proceedings and the court and legal fees spent to recover these amounts due.

     Account subject to lien
     •        The funds and Currency positions in your Account will act as collateral to give GFT security for any amounts due by you to GFT. This
              means that GFT has the right to use the assets in your Account to satisfy any outstanding liability to GFT.

     Fee disputes
     •        All disputes over fees must be brought to our attention within five (5) calendar days of the fee's origination to avoid losing the right to
              dispute such fees.

     Payments of Referring Parties, Introducing Brokers, Trading Agents, and representatives
     •       A Referring Party, who refers a Forex or CFD customer to GFT, will be compensated by GFT. Compensation paid to a Referring Party
             is based on the respective client’s trading volume. This means that compensation is based on either an amount per round term lot or
             Pip mark-up.
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                  This compensation is usually individually negotiated between GFT and each Referring Party. For example, if a commission of
                  USD5.00 per round turn is agreed to with the Referring Party and the number of round turns is 50, the payment to the Referring
                  Party would be USD250.

                  From time to time, a Referring Party or Trading Agent may choose to charge the customer additional fees for their services. Any
                  such fees charged to customer accounts must be separately disclosed and agreed to in writing by the customer.

                  A GFT representative may receive a portion of the income earned by GFT as described above. You may request particulars of the
                  remuneration and other benefits received, or to be received by a Referring Party for referring you or as a GFT representative within
                  a reasonable time after you have received a GFT financial services guide or PDS.

Part 2: Additional costs and amounts payable for Forex        Contracts and Forex Options only

   a)   Rollover and Swap rate for net-based Forex
        A swap rate, also known as forward points, is applied on the roll over of a Foreign Exchange Contract. The purpose of the swap rate is to
        account for the interest rate differential between the two currencies in a Currency Pair. For example, if Currency A has a higher interest rate
        than Currency B, the person who holds a Long Position in A and Short Position in B will be receiving payment of the swap rate, while the
        person who holds a Short Position in A and Long Position in B will be paying the swap rate.

   b)   Each day, when rollover occurs, the swap rate is applied as either a credit or a debit to your Account, and is incorporated into the difference
        between the Closing Price of the position rolled out of, and the Opening Price of the position rolled into, which would be the same in the
        absence of the swap rate. Therefore, you may make or lose money on this aspect of the rollover, depending on the relative interest rates of the
        Long and Short Positions in respect of the currencies in the Currency Pair that you are holding.

   c)   Daily financing charges/credits for position-based Forex
        Each business day at 3:00 pm EST (6:00 am AEST), a debit or credit will be applied to your to account for the interest payment or receipt due
        as a result of the positions held in your Account. This procedure will occur daily until you Close Out the Currency position.

Part 3: Additional costs and amounts payable for CFDs

        Daily financing charges
        A daily financing charge is applied in respect of CFDs relating to cash indices, spot foreign exchange markets, individual equities, and cash
        metals. The financing charge is levied for each day that the trade remains open (including weekends and public holidays). The financing charge
        is applied to all open positions at 17:00 EST (which equates to 8.00 am AEST) on each business day.
        Accordingly, if you hold "long" (buy) CFD positions, you will have to pay the daily financing charge, which will be debited from your Account
        Balance. If you hold "short" (sell) CFD positions, GFT will pay you the financing charge, which will be credited to your Account Balance.
        The daily financing charge is calculated as follows: f = (s x p x r) / d where:

                  f = daily financing charge;

                  s = number of CFDs;

                  p = Closing Price as determined by GFT (usually this will be the Closing Price of the Underlying Share);

                  r = relevant overnight LIBOR rate, PLUS 300 Basis Points for Long Positions, or MINUS 300 Basis Points for Short Positions; and
                  d = number of days (365 days for UK and Australian shares and 360 for all others).

                  Accordingly, using the above example, if you hold 2,500 CFDs for XYZ shares for 2 days and the Closing Price on day 1 is AUD4.60
                  and on day 2 is AUD4.70, the LIBOR rate on day 1 is 5.75% and day 2 is 5.70%, the daily finance charge will be as follows:

                  Day 1: (2,500 x AUD4.60 x [5.75% + 3%])/ 365 = AUD2.76; Day 2: (2,500 x AUD4.70 x [5.70% + 3%])/ 365 = AUD2.80.

                  Accordingly, at the end of day 1, AUD2.76 will be debited to your Account and at the end of day 2, AUD2.80 will be further debited
                  to your Account. You must always maintain enough funds in your Account in addition to the Margin to cover these financing
                  charges.

        Please note however, the relevant interest rate (e.g. LIBOR) will never be adjusted below a zero rate. For example:

                  Position is Short 10 GBP of .UK100.cfd.
                  BBA GBP LIBOR Overnight Rate for this market is 0.5%.

                  Using the formula:

                  f = (s x p x r) / d

                  where
                  f = daily financing charge
                  s = your stake (e.g. 10 GBP)
                  p = Closing Price as determined by GFT Global Markets (e.g. 5300)
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                    r = relevant interest rate, PLUS 300 basis points for Long Positions, or MINUS 300 basis points for Short Positions, e.g. (0.5% - 300
                    basis points = rounded to ZERO%)
                    d = number of days, i.e. 365 for UK and Australian indices and 360 for all others e.g. 365 days

                    Therefore f = (10 x 5300 x0%) / 365 = 0%

          In the case of CFD trades relating to individual equities and cash indices, the financing charge is debited from your Account in the case of long
          CFD trades and credited to your Account in the case of short CFD trades.

          In the case of CFD trades relating to foreign exchange, if the first Currency has a higher interest rate, then you are credited financing for running
          a long CFD position and debited financing for running a short CFD position. If the first Currency has a lower interest rate, then you are debited
          financing for running a long CFD position and credited financing for running a short CFD position. Please refer to the Market Information Sheet
          for details of the financing charge.

          Financing charges are subject to fluctuation due to, but not exclusively, changes in the applicable interest rate forming part of the calculation of
          such charges.

          As provided in the GFT Account Agreement, GFT reserves the right, from time to time during the lifetime of any CFD contract when the need to
          do so is brought about by, amongst other thing, volatile market conditions, to vary financing charges and also to impose financing charges
          on products that were not previously subject to such charges, irrespective of whether such financing was not payable at the time of opening a
          CFD in respect of the CFD market in question.

          LIBOR: Note that the LIBOR is subject to change. You can ascertain the current LIBOR by contacting our dealing desk at +44.207.170.0750.

 8. COMMISSIONS
Before you begin to trade, you should obtain a clear explanation of all commissions, fees and other charges for which you will be liable. These charges will
affect your net profit (if any) or increase your loss.

Part 1: Commissions for Forex

GFT is compensated by revenues from its activities as a Dealer, including proceeds from buying, selling, converting, as well as holding currencies and
interest on deposited funds and rollover fees.

Part 2: Commissions for CFD Trading

GFT charges a commission for executing a CFD trade. For CFD commissions, please refer to the Commission rates at http://www.gft.com.au//Range-of-
Markets/CFD-Pricing/Default.aspx . GFT will charge you a commission on both opening and closing an equity CFD position. Commission charged will be
the greater of a set dollar fee or by multiplying the dollar value of the contract at each of the open and close of the trade by the Basis Point commission level
indicated at the links above. GFT will not charge commission on non-equity CFDs. GFT, in its absolute discretion, also reserves the right, from time to time,
during the lifetime of the GFT Account Agreement to vary commission rates and impose commission charges on products GFT has not previously subjected
to such charges, irrespective of whether such charge were not payable at the time of opening.

 9. TRADING ELECTRONICALLY OR BY TELEPHONE
You may trade with GFT through GFT's electronic trading system known as DealBook or by calling the dealing desk on +61 2 9028 7500 or 1800 62 40
80.

Electronically
DealBook is an electronic trading system that allows you to trade Forex Contracts, Forex Options, andCFDs. GFT will remain the counterparty to all trading
contract transactions in Forex Contracts, Forex Options, and CFDs. DealBook will contain full details of each trade you have entered so you can check the
status of trades and Orders. However, we may refuse to accept a trade at our discretion or pursuant to the GFT Account Agreement.

DealBook will indicate to you the following information.
        •          Your account details.
        •          Details of each trade (including the date of the trade, a description of the trade and any amount paid or payable by you in relation to
                   the trade).

Once you have an Account, you can start trading with DealBook by logging on using your password. DealBook will execute trades for anyone so long as the
person provides the correct security details. While you can access DealBook from any domain and we will not recognise or verify the domain from which
instructions are sent. You are responsible for everything done through DealBook (including all trades or Orders you place on DealBook) but we will
indemnify you against direct losses you suffer because someone has access to your account as a direct result of our gross negligence.

You can only trade on DealBook in relation to Forex Contracts, Forex Option and CFDs where the relevant market or instrument which remains open or has a
readily ascertainable price (or applicable). Accordingly before you Offer to place a trade on DealBook make sure you know the applicable trading hours of the
relevant market or instrument and understand all the specifications/rules that apply to that trade. Please see the Market Information Sheets for further
information.

Set out below is a general step-by-step guide regarding placing a trade (Order) on DealBook (and finding out if your Order has been accepted):
Step 1: To place a trade (Order) on DealBook you must complete the deal ticket window.
Step 2: Once you have filled in all the details, check them and if you decided to go ahead, you must submit that Offer to us by clicking on the "submit
          icon" button. You cannot withdraw any Offer you have submitted into DealBook.
Step 3: If you wish to check whether this Offer has been received by us you must access the working order window.
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Step 4: The working order window will display all the offers we have received from you to place a trade. Note that the deal ticket will also show if you
          have submitted an Offer to us.
Step 5: If your Offer has been accepted, the details of the trade will be displayed in the Open Position window on DealBook and the deal ticket will
          show that the Offer has been accepted.
The DealBook system also allows you to place Orders in other ways so you should familiarize yourself with DealBook.

You are responsible for checking whether an Offer you have made has been accepted. Accordingly, you must make sure that you regularly access
DealBook to check on all dealings. If you think a mistake has been made (e.g. a trade has been recorded that you think is not yours), tell us
immediately, either by telephoning the dealing desk at +61 2 9028 7500 or by contacting us by email (go to http://www.gft.com.au/contact/). The sooner
we are made aware of a potential problem, the more easily we will be able to investigate.

GFT will not dispatch confirmations to you in respect of each trade. By entering into the GFT Account Agreement you have agreed that confirmation of
transactions involving Forex Contracts, Forex Options, and CFDs contracts may be provided by means of your access to DealBook.

By telephone
You can also trade or place Orders in relation to Forex Contracts, Forex Options, and CFDs contracts by telephoning GFT at our dealing desk on +61 2
9028 7500 or 1800 62 40 80.

When you contact GFT over the telephone, you will be required to confirm certain security information. If you cannot provide certain security information,
GFT will not access your Account or process your trade or Order. Accordingly please have ready the following information: Your account number.
          •        Whether you are buying or selling.
          •        The volume of your Order.
          •        The product you wish to trade (if applicable).
          •        The price at which you would like your Order placed.
          •        The type of Order execution (for example, Guaranteed Stop-Loss Order or Limit Order).

When you contact the dealing desk, the GFT personnel will tell you information regarding the price of the Underlying Security or trading instrument the
subject of your trading contract, if a price has changed since when you were last quoted a price or if the price is no longer valid. When you place a trade or
Order by telephone that trade will only be accepted if the GFT dealer tells you it is accepted. You should contact us immediately (via DealBook or by
telephone) if you have any concerns as to whether your trade (or any other transaction, such as an Order) has been accepted.

All telephone calls placed through the dealing desk are recorded by telephone recording devices. All conversations concerning price quote requests, Order
placement and execution, confirmations, and any other trading related issues, are recorded to ensure fairness and accuracy for all parties involved in the
delivery and execution of a trading Order.

All Orders placed through the dealing desk are confirmed by DealBook and appear on DealBook trading reports. An Order will be deemed fair, accurate, and
undisputed unless a client disputes an Order within 4 Business Days of the trade being executed. For more information regarding our dispute resolution
system, please see section 3.


 10. TRADING HOURS
Please note that times given are both US EST and the Australian Eastern Standard Time equivalents and include US daylight savings time when in effect.
Note also that the Australian Eastern Standard Time, or "AEST" equivalents quoted in this PDS may be affected by daylight savings changes.

You may execute a trade twenty-four (24) hours a day beginning at 17:00 hours (5:00 p.m.) on Sunday (EST) (8:00 am on Monday AEST) and ending at
17:00 hours (5:00 p.m.) on Friday (EST) (8:00 am on Saturday AEST).

You will be informed in advance by GFT (via DealBook) on a best efforts basis of changes in operating hours due to holidays and special system
maintenance requirements.

FOREX CONTRACTS AND FOREX OPTIONS TRADING ONLY: At 17:00 hours (5:00 p.m.) (EST) each Friday (8:00 am on Saturday AEST), trading will be
disabled until Sunday 17:00 hours (5:00 p.m.) (EST) (8:00 am Monday AEST).

AUTOMATIC ROLL OVER OF FOREIGN CURRENCY (FOREX) TRADES NOT NOTICED FOR DELIVERY-NET BASED:
All contracts for Foreign Currency are executed for actual delivery, but where trades are not noticed for settlement by delivery by the client, the Foreign
Currency transaction will be rolled via swap transaction into the next applicable spot value date. GFT will continue to roll customer positions until the
client notifies GFT of their intent to take delivery or closes out the Currency position. There are no commission charges for these "rollover" transactions.

At approximately 3:00 pm daily EST (6:00 am AEST), client positions will be rolled into the next applicable value date; unless the client has notified GFT at
least two Business Days prior (or one Business Day prior in the case of US dollar/Canadian dollar transactions) of their intent to receive delivery on the
currency position. GFT uses the Tom/Next swap rate as the bench mark for these Currency rollovers. All transactions entered into after 3:00 p.m. EST
(6:00 am AEST) will be for the new value date.

FINANCING OF FOREX TRADES - POSITION BASED:
Each Business Day at 3:00 pm EST (6:00 am AEST), a debit or credit will be applied to your Account to account for the interest payment or receipt due
as a result of the positions held in your Account. This procedure will occur daily until you Close Out the Currency position.

 11. COUNTERPARTY RISK
GFT acts as a principal in the trade (that is, the counterparty to your transaction) and either buys or sells the Forex Contract, Forex Option, or CFD
transaction sought by you. In this capacity, GFT assumes the risk of the trade in its entirety. There is also a risk that the hedging counterparties with whom
GFT contracts, may not be able to meet their contractual obligations to GFT. This means that GFT could be exposed to the insolvency of its hedging
counterparties or other defaults by the hedging counterparties on their obligations to GFT. If the hedging counterparties default on their obligations to
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GFT, then this could give rise to the risk that GFT defaults on its obligations to you. To mitigate against this risk, GFT has policies in place to manage its
exposure to market risk from client positions, including for the selection of its hedging counterparties.

GFT holds funds with and uses the following reputable financial institutions as counterparties: JPMorgan Chase, Morgan Stanley and GFT Global
Markets UK Ltd (GFT UK). GFT UK holds funds with and uses the following reputable financial institutional as external counterparties: Commerzbank
AG, Cheuvreux (Credit Agricole Group), IG Index plc., Jefferies Bache, and Macquarie. GFT has selected these entities because they are among the
largest banks in the world and have the highest credit standing along with adequate financial resources. Through these entities, GFT has indirect access
to more than a dozen additional counterparties, without incurring additional risk.

GFT has policies around monitoring client positions, margin calls and liquidations. GFT uses real-time monitoring and any open risk positions can be
viewed in the dealer application. These positions are constantly monitored by the dealing team and the risk management team and are the main focus of
specific individual dealers.

GFT also monitors market risk on a daily basis against set limits and all hedging decisions are made by a risk management committee, (“the
committee”), based on product. Market risk limits are researched and set by Global Risk management staff and signoff is made by the committee.
Dealing staff, dealing shift manager, Global Risk management staff, and the Manager of global risk management are all responsible for on-going
monitoring of market risk limits.

As GFT is your counterparty to your trades with us, you are exposed to the financial resources and business risks, including the credit risks, associated
with trading with GFT. If GFT becomes insolvent, GFT may be unable to meet its obligations to you. GFT has risk management and compliance systems
in place to manage these risks. Accordingly, GFT verifies daily that it holds sufficient financial resources to conduct its financial services business.
GFT also manages its financial resources risks by complying with the liquidity requirements of its AFSL and undertaking additional "stress testing" to
ensure it holds sufficient liquid funds to withstand significant adverse market movements.

If you wish to obtain information about GFT's financial position, please go to the web page for the US Commodity Futures Trading Commission
(CFTC), and use the following link to see GFT's net capital amount as reported to the CFTC:
http://www.cftc.gov/marketreports/financialdataforfcms/index.htm
If you require further information about GFT’s financial position, please contact Client Services and request a copy of our audited financial statements.
These will be provided free of charge. See section 13 and 17(m) of the PDS for more information about counterparty risk.

 12. HOLDING YOUR MONEY
Under GFT's client money policy, we will deposit all client funds into a segregated account which is kept separate from GFT's own funds and operated
as a trust account in accordance with the Corporations Act.
In accordance with our policy and the Corporations Act:
•          all client funds are pooled together in the client moneys account;
•          the client moneys account is with an Australian authorised deposit-taking institution;
•          only client funds may be paid into the client moneys account;
•           we withdraw the funds in the client moneys account only for limited purposes, including to meet obligations we incur in connection with
           margining, guaranteeing, securing, transferring, adjusting or settling our dealings in derivatives, including dealings on behalf of another
           client. This means we may use funds belonging to one client to meet Initial Margin obligations arising from dealings on behalf of another
           client;
•          we may withdraw funds from the client moneys account to defray brokerage and other proper charges and to pay any amounts you owe to
           us under the Customer Agreement;
•          we do not use funds in the client money account for our own purposes, such as hedging GFT's own trading positions.

In accordance with the Customer Agreement, you will not earn interest on your funds in the client money account. Any interest earned on funds in the
client money account will be retained by GFT.

See sections 13 and 17 (o) and 17(q) of this PDS for information about the risks to client funds deposited with GFT, such as the risks associated with
the pooling of clients' segregated funds.

 13. BANKRUPTCY
As explained above in section 12, all GFT's Australian clients' funds are segregated from GFT's own money. The purpose of the segregated client account
is to protect clients' funds in the unlikely event of GFT's insolvency.

However, your funds will be co-mingled in one or more segregated client money accounts with the funds of other GFT clients. Moreover, we may use
funds deposited in the client monies account by one client to meet the Initial margin [or settlement] requirements of another client. In the unlikely event that
GFT becomes insolvent and there is a deficit in any segregated client money account, you could then become an unsecured creditor of GFT in relation to
the balance of the funds owing to you.

See section 17(o) of this PDS for details of how you can obtain information about GFT's financial position.

See section 17(q) of this PDS for more information about the risks to client monies deposited with GFT.

 14. PAYMENT TO GFT
GFT accepts account opening collateral in the form of cash or cash equivalents as opening collateral. GFT also permits the use of credit cards as
collateral to open your account. GFT only receives funds from the following sources: PayPal, paper checks, credit cards, and bank wire transfers. If you
send payment by cheque or e-check, GFT will not credit your Account with the payment or accept trading Orders until the cheque or e-check has cleared.
This may take a number of days. In the case of payment to maintain your Margin, GFT will only accept payment by wire transfer. GFT does not accept
payment in cash. All cheques must be made payable to Global Forex Trading. Whilst GFT does permit payment by credit cards, they represent a higher
risk to GFT and can be more frequently associated with fraud, however; credit card payment is offered because varying customers prefer the
convenience of payment with credit cards. Clients should be aware that using a credit card to fund your account may pose the risk of double
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leverage from the combined effect of using a credit card facility to fund a leveraged trading account. GFT places a limit on funds received from
credit cards and will only return funds to the credit card that made the deposit.

Before any payments from an Account may be disbursed the account holder must sign and mail or fax a funds request form (available from
http://www.gft.com.au/).

GFT may not make or receive any payments or deposits via a third party.

 15. SIGNIFICANT TAX CONSIDERATIONS
If you invest and trade in any of the financial products detailed in this PDS, you may be exposed to Australian taxation. This section outlines the main
Australian income tax and GST implications of trading in CFDs, Forex Contracts, and Forex Options in accordance with this PDS.

The information contained in this section is of a general nature only and is not intended to constitute legal or taxation advice. The taxation implications of
your investment will depend on your own individual circumstances. GFT recommends that you obtain independent professional taxation advice on the full
range of taxation implications applicable to your own personal facts and circumstances.

Taxation laws are complex in nature and their interpretation and administration may change over the term of your investment. GFT does not advise you of
any changes in taxation laws. You must take full responsibility for the taxation implications arising from your own investment, and any changes in those
taxation implications during the course of your investment.

The information provided below is for Australian resident investors only and is based on the current taxation laws in Australia. If you are not an Australian
resident, you should consult a taxation advisor in your own jurisdiction to determine the tax consequences of investing with GFT.

The following summary is based on the assumption that you will hold the financial products detailed in this PDS on revenue account, that is, you will be
carrying on a business of either trading or investing in these types of Financial Instruments, and/or you will enter into the financial products for profit making
purposes. This summary does not consider the taxation position if you enter into the financial products detailed in this PDS for the purposes of hedging risks
associated with other securities held by you on capital account, or for the purpose of recreation by gambling.

The availability of tax deductions or losses incurred as a result of entering into these financial products to Offset current and future year income will
depend on your personal circumstances and you will need to seek advice from your tax advisor in this regard.

Tax consequences of CFDs
Any profit derived or loss incurred by you in respect of a CFD should be included in your assessable income or allowable as a deduction (respectively). This is
consistent with the ATO's position in relation to the taxation treatment of financial CFDs as set out in Taxation Ruling TR 2005/15.

Any profit or loss arising in respect of a CFD should be included in your assessable income (or allowed as a deduction) at the time the profit or loss is
"realised" for tax purposes. Realisation will generally occur at the time the CFD is closed out or otherwise expires.

Tax consequences of Forex Contracts and Forex Options
The tax consequences in respect of Foreign Exchange Contracts (including Forex Contracts and Forex Options) are complex and will depend on your
individual circumstances.

Australia has implemented a prescribed set of rules for the purpose of determining the tax treatment of Foreign Currency exchange gains and losses.
Generally, foreign exchange gains (or losses) will be included in your assessable income (or allowed as a deduction) when realised. Realisation will
generally occur when the right or obligation to receive or pay Foreign Currency ceases.

The cost of acquiring an Option over Foreign Currency (for example a Premium paid for a call Option or a put Option over Foreign Currency) is generally
treated as a cost of acquiring or disposing of the Foreign Currency for the purposes of determining the gain or loss on realisation. In general, if a Currency
Option expires without being exercised, a Premium received (or paid) for the grant of the Option is treated as a Foreign Currency exchange gain (or loss).

In circumstances where you are entering into a Foreign Exchange Contract for the purposes of hedging, the taxation consequences will depend on the
nature of the underlying transaction or the asset/liability which is sought to be hedged. It is recommended that you obtain your own professional taxation
advice in this regard.

Interest on your Account
Interest you receive on your Account with GFT is likely to be treated as assessable income for Australian tax purposes at the time that it is credited to you. If
you do not provide your TFN (or ABN if applicable) or proof of exemption, GFT may be required to withhold tax from any interest payment at the rate of
46.5%.

Expenses
Certain expenses incurred by you in connection with trading in the financial products detailed in this PDS may be deductible to the extent that they are
incurred for the purpose of deriving your assessable income. The deductibility of these expenses will depend on your own personal circumstances. You
should obtain your own advice as to whether such expenses will be deductible to you.

Taxation of Financial Arrangements
New rules have recently been introduced which will set out the method by which gains and losses from financial arrangements will be brought to account for
tax purposes (referred to as the Taxation of Financial Arrangements (TOFA) rules).

The TOFA rules will apply to financial arrangements held by certain investors whose assets or aggregated turnover exceeds specified thresholds. The TOFA
rules will also apply to investors who have made an election to apply the TOFA rules to their financial arrangements.

GFT recommends that you seek your own taxation advice as to the application of the TOFA rules to you.
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Goods and Services Tax
No GST should be payable in relation to your trading of CFDs, Forex Contracts, and Forex Options with GFT.

GST may apply to certain fees and costs charged to you. You should obtain your own advice as to whether an input tax credit is available for any such GST,
as it will depend on your personal circumstances.

 16. HOW TO START TRADING
a)    Opening an account
      To start trading Forex Contracts, Forex Options, or CFD contracts with GFT, you must first open one or more Accounts with GFT.

      To open an Account with GFT, you must complete the application form on-line at http://www.gft.com.au/Open-Account/Default.aspx or submit the
      completed PDF version of the application which can be found on GFT’s website: http://www.gft.com.au/help/Account-Documents/Default.aspx. By
      completing and submitting the application form you will also have agreed to be bound by the terms and conditions of our GFT Account Agreement.
      You will only have an Account once GFT accepts your application form. However GFT, in its absolute discretion, may determine whether to accept or
      reject your application form.

      You can open an Account individually or as joint account holders. Where there are Joint Account Holders:
      •    Each Joint Holder is jointly and severally liable for the Account;
      •    GFT may act upon instructions received from a Joint Holder or any person who is authorised to provide instructions to GFT by a Joint Holder and
           in doing so, it is deemed that such instructions have been provided to or given by all the Joint Holders; and
      •    Any notice or other communication provided by GFT to a Joint Holder, or person authorised to receive such instructions on behalf of, or as if
           they were a Joint Holder, will be deemed to have been given to all Joint Holders.

      Forex Contracts, Forex Options and CFDs are considered high-risk financial products and are not suitable for all investors because of the
      significant risks involved. These products are subject to a mandatory client qualification assessment required by ASIC. GFT meets its obligation to
      ensure that clients have the necessary experience and knowledge in order to understand the risks involved in relation to its Forex Contracts, Forex
      Options and CFDs through the information you supply in the application form and by requiring prospective customers to complete a short Investor
      Knowledge Assessment and an Investor Suitability Assessment before GFT will permit you to open up one or more Accounts with it. Set out below
      is more information about the Investor Knowledge Assessment and Investor Suitability Assessment.

      Forex and Forex Options Only: GFT will purchase and sell Foreign Exchange Contracts at your request in accordance with oral and written
      instructions from you or your designated agents and pursuant to the terms of the GFT Account Agreement. GFT will employ, at its reasonable
      discretion, any counterparty including, but not limited to, itself as your agent in connection with the execution, carrying, clearance, delivery and
      settlement of any purchase or sale of Foreign Exchange Contracts entered into on your account.

      Prior to the execution of a Forex Contract, or Forex Option, you must deposit and maintain with GFT the amount of cash and/or Margin required by
      GFT during the period that the contract is outstanding. Margin may be changed from time to time. Further, a change may occur during the
      existence of an ongoing trade. Yet, notwithstanding any action you may take to correct a Margin deficiency, GFT may take any trading action
      concerning the Account it deems necessary to protect its interests. You are the key to your trading with GFT, as you will rely solely on your own
      informed judgment in executing all Forex Contract or Forex Options.

      You are responsible for any losses which result from transactions entered into on your behalf.

      Profit will be made on a transaction when Forex Contracts are sold for more money than when they were originally purchased. For you to
      recognize a gain from a profitable transaction, the profits from the transaction must exceed the costs of fees and other charges payable by you for
      the execution of the trade. Please refer to section 21 for worked examples of Forex Contracts.

      Losses will be incurred on a transaction where Forex Contracts are sold for less than the amount for which they were originally purchased. You
      must cover all losses incurred on transactions which may include, but may not be limited, to any Margin Calls, the asset value of your Account, or
      any combination of these.

      Currency Option Expiration & Exercise/Assignment
      Currency Options traded with GFT may settle in cash or the Underlying Instrument. Spot settled Options that expire in the money will be exercised
      automatically and result in a spot position that is subject to the risks and Margin associated with spot currency positions.

      Each client must answer the Suitability Assessment questions, which include questions on trading experience and educational and professional
      qualifications, included in the application. If a prospective client is not deemed suitable for trading by GFT after review of the Suitability
      Assessment, may be able to open a trading account with a subject to a deposit limitation. A client who wishes to open without a deposit limit may
      proceed by taking and passing a Investor Knowledge Assessment, consisting of ten questions designed to assess your understanding of the
      various concepts associated with Forex Contracts, Forex Options and CFDs (including, but not limited to, Leverage, margins, volatility and the
      risks associated with Forex Contracts, Forex Options and CFDs). Educational materials are also available to further enhance your understanding
      of the CFD product.

      Clients who do not score 70% in the Investor Knowledge Assessment, will continue to be subject to the deposit limitation described above.
      Customer’s trading activity will be reviewed periodically by GFT’s Compliance Department and when deemed appro[priate will be contact with the
      opportunity to deposit additional funds or open a Standard CFD Account.

      GFT also reserves the right to reject certain potential CFD account applicants deemed to be unsuitable, including but not limited to for reasons of
      age, net worth, trading experience and type or source of funds used to fund the account.
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     Please note that GFT will retain details of any applicant who undertakes the Investor Knowledge Assessment irrespective of how they perform in
     the test and whether they subsequently access GFT's products or services. This information will be retained for a period of seven years. Please
     email info@gft.com.au or call our sales team to obtain the Investor Knowledge Assessment.

     You should always make your own assessment of your suitability to trade in Forex Contracts, Forex Options and CFDs. You should carefully
     consider the features of Forex Contracts, Forex Options and CFDs and their significant risks before investing in them.

     Some key suitability considerations are:

     •    whether you have experience in trading in Forex Contracts, Forex Options and CFDs, securities and other derivatives;
     •    whether you understand the terms of Forex Contracts, Forex Options and CFDs and how they work;
     •    whether you are aware of the high degree of risk inherent in Forex Contracts, Forex Options and CFDs;
     •    whether you can monitor your investments in Forex Contracts, Forex Options and CFDs and manage them in a volatile market;
     •    whether you have financial resources to provide more Margin or Margin Requirement, especially on little or no notice; and
     •    whether you can bear substantial losses that might arise from trading in Forex Contracts, Forex Options and CFDs, especially the potential for
          unlimited losses.

     Our assessment of your suitability is based on your information and any other information we ask for and you give us.

     To the extent permitted by law we do not accept liability for your choice to invest in GFT's Forex Contracts, Forex Options and CFDs. In addition,
     GFT is not authorised under its AFSL to, and will not, provide you with personal financial product advice that takes into account your objectives,
     financial situation and needs, so you should read all of this PDS carefully, consider your own needs and objectives for investing in Forex Contracts,
     Forex Options and CFDs and take independent advice as you see fit.

b)   Orders
     You can either trade Forex Contracts or Forex Options, and CFDs contracts on Margin and Close Out the position, or take actual delivery of the
     contract (if it is available). You also have the capacity to take Long and Short Positions (see section 21 of this PDS for further explanation on what
     these positions mean). Trading on Margin means that you are able to receive the commercial benefits of trading in Forex Contracts, Forex Options,
     and CFDs contracts while avoiding the need to outlay the entire capital value of the transaction. Trading for actual delivery means that you intend to
     trade the entire value of your Capital.

     In addition to being able to enter an Order into DealBook which is an instruction to buy or sell a Forex Contract, Forex Option, or CFD contract at
     the current bid or Offer price quoted by GFT, you may also place a Limit Order or stop Order.

     The following Order types are available for GFT's Foreign Currency (Forex Contracts), off exchange Forex Option transactions, and CFDs:
     •    Market Order – an instruction to buy or sell a trading contract at the current bid or Offer price of the Underlying Security or trading
          instrument quoted by GFT. GFT in its absolute discretion can accept or reject the Market Order.

     •    Limit Order – an instruction to either buy or sell a trading contract at the price threshold you have specified or at a price that is more
          favourable than the price threshold you have specified for the specified contract or Option. There is a possibility that this kind of Order
          will not be filled.

     •    Stop Order (also referred to as a 'Stop-loss Order') – an instruction to Close Out or enter into the trading contract at the best available
          price after a pre-determined price threshold is reached. Putting a Stop Order on your position will allow you to potentially limit potential
          losses from adverse market fluctuations by closing your position at the best available price after the market price passes the price
          threshold you have set. A Stop Order is not guaranteed in that it is subject to gapping in the market. See section 16(c) of this PDS for
          further explanation on gapping.

     The following Order types are available for GFT's Foreign Currency (Forex) and CFDs only:
     •    Direct Deals - One click trades that you may submit at any time. The price at which a direct deal is executed depends upon market
          conditions at the time the Order is received. If the market still warrants the price you requested, your Order will be executed as
          received. If the market does not warrant the price you requested, your Order submission will be re-quoted at a new updated market
          price ready for re-submission.
     •    Contingent Order – an instruction to place Limit Order or a Stop Order to open a new position, while at the same time, another Order
          is placed (Second Order). However this Second Order will only be effective if the parent Order is executed. A Contingent Order
          cannot be attached to an existing Open Position. It must be placed when you open your position. For purposes of scaling out of a
          position, a customer can place up to 5 Contingent Orders together with one parent Order.
     •    If Then Order - An Order which is contingent upon a working Order being filled and which must be accepted before being attached to
          a working Order. These Orders can be If Then Limit or If Then Market orders.
     •    Pair Trade Order – The user can set an instruction by setting the difference between two symbols, and when the condition is met
          based upon the selected difference between the two symbols, an Order is placed. These can be executed as market or OCO
          Orders.
     •    Order Cancels Order (OCO) - Two separate stop or Limit Orders that are linked together and placed as one Order. When one of the
          linked Orders is executed, the other Order is automatically cancelled by the system.
     •    Straddle Order – This is a combination of buy and sell in OCO form. For example, a user may place a buy stop above the market, and
          a sell stop below the market as OCO Orders. If one fills the other is automatically cancelled. The opposite of the above would also be
          allowed.

     •    Bracket Order –A pair of OCO Orders, Profit Target and Stop Loss, is placed and once one of the pair is filled, the other is
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            cancelled automatically. In the case of a partial fill of one of the Orders, the number of contracts for the reciprocal Order is
            reduced accordingly. Profit Target and Stop Loss are defined in points/pips.

      •     Trailing Stop Orders - an instruction to place a stop Order at a specific distance from GFT's current price (Stop Distance). If GFT's
            current price moves favourably away from the level of the stop Order, the stop Order will move so that the Stop Distance is
            maintained. However, this does not apply if the price has moved against you and then moves in your favour. If GFT's current price
            moves adversely to the level of the stop Order:
            •     the level of the stop Order will not move, unless (before the Trailing Stop Order is executed – see below) the price starts to move
                  favourably to the level of the stop Order. If the price (having moved adversely) does start to move favourably, the stop Order will remain
                  static unless and until the Stop Distance has been restored;

            •    if the level of the stop Order is reached, the stop Order will be executed;

            •    the gap between GFT's current price and the level of the stop Order cannot be more than the Stop Distance, but it may be less if
                 GFT's current price moves adversely; and

            •    if GFT's current price moves in one direction and then another, the level of the stop Order may or may not move, as outlined above.

            Trailing stops can be placed on OCO Orders.

            The system will allow you to scale out of a position by placing up to 5 contingent trailing stops for each Order in a pair of OCO
            Orders.

      •     Guaranteed Stop Loss Order - available on CFDs and Position Based Forex Contracts only: An instruction to limit your losses,
            both during and outside market hours, to the amount specified. A Guaranteed Stop Loss Order means that even if the market
            gaps through and goes past your price threshold, the Order will be filled at the price threshold set by you. A guaranteed Stop Loss
            Order is available on selected markets and is subject to certain Premium fees, taking into account market Volatility, liquidity and
            the type of Underliyng. Guaranteed Stop Loss Orders can only be worked on a contingent basis. That is, the stop will only
            become working once the parent Order on which it was placed is filled. The “traded at” price of the parent Order will be adjusted
            to account for the Premium charged for placing Guaranteed Stop Loss Orders. Guaranteed Stop Loss Orders are limited to being
            placed a set number of pips away from the parent Order. For information on the applicable fee and the markets on which a CFD
            guaranteed Stop Loss Order is available, please refer to the Market Information Sheet.

      •     Chart Line Order –This Order type allows the users to set Orders based on a line drawn on a chart maintained by GFT, such as a
            trend line or a Fibonacci retracement. The Order may be a market or Limit Order that may be executed at or within 10 pips of the
            selected line.

      •     Market On Close /Time Orders - Market on Close Orders are specified to be executed only at the time of market close on a
            specified market. Time Orders allow the user to create Orders that will only execute between user-specified time frames.

Each customer is responsible for all Orders placed by that customer, and should fully understand the mechanics and method of execution of each Order
before placing it. GFT’s descriptions of the various types of Orders are necessarily summaries, and do not describe all aspects of each Order. If you have
any questions as to how any of the types of Orders will be executed, please call a GFT representative for an explanation.

Stop Orders and Limit Orders are subject to fees and charges which are subject to change over time and which take account of market Volatility, liquidity
and relevant trading. Please refer to the Fee Schedule at http://www.gft.com.au/documents/fee-schedule.pdf.

A stop Order or Limit Order can only be placed when you first initiate the trade. Such Orders cannot be closer to the prevailing price of the underlying
price quoted by GFT than the minimum stop level. The minimum stop level is in the Fee Schedule.

All Orders, including stop Orders, Limit Orders or Guaranteed Stop Loss Orders are "good-till-cancelled". This means the Order remains in place until the
earlier of you cancelling the Order or the Order is executed.

Neither a stop Order (including a trading stop Order) nor a Limit Order is guaranteed in that both are subject to gapping through in the market. Gapping
through is the result of a rapid movement in prices or where the market jumps from one price to a much higher or lower price. Where gapping through
occurs it may result in a stop Order or a Limit Order being filled at a price different than the specified threshold. Stop Orders will be filled at a price worse
than the threshold price.

No Orders are monitored or executed outside GFT trading hours for the relevant market or Underlying, unless the Order is a Guaranteed Stop Loss Order.

c)    Stop or Limit Orders may not always be effective - Slippage and gapping through

      Slippage is a term referring to a market situation in which a stop Order or Limit Order for a particular CFD or Currency Pair is filled at a price which
      is different from the specified threshold of the stop Order or Limit Order because the price quoted for the CFD or Currency Pair moves from one
      quoted price to a different quoted price without allowing any trades to be made at a price between the two quoted prices. Slippage may occur at
      any time but is characterised, and more likely to occur, when prices are unavailable to be quoted, for example, when GFT or the underlying market
      is closed, around fundamental announcements in respect of a Currency or other Underlying or at times of extreme market Volatility. See also
      section 17, Part 4(a) of the PDS for more information about Slippage and gapping through.
       •     Closed market - GFT is closed from 17:00 hours (5:00 p.m.) (EST) each Friday (8:00 am Saturday AEST) to 17:00 hours (5:00 p.m.)
             (EST) each Sunday (8:00 am AEST Monday). During this time underlying Currency markets may move and GFT prices will not reflect
             those movements until GFT reopens. Any stop Order or Limit Orders which would otherwise be due for execution as the price moves
             towards the specified threshold will only be filled when GFT opens again at 17:00 hours (5:00 p.m.) (EST) on a Sunday (8:00 am
             AEST Monday) and only if the quoted price remains below the stop Order threshold price or above the Limit Order threshold price, as
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              appropriate.
          •   Fundamental announcements and extreme Volatility - Prices may slip during fundamental announcements and extreme market
              Volatility. This means that there are no tradable prices between the quoted price prior to the fundamental release, or world event,
              and the quoted price available after the market has adjusted, following the release or event. Prices move very quickly and Orders
              are filled, in some cases, at prices very far away from the stop price. This can be a consequence in any market that is affected by
              an influx of data around these times.

          Gapping through is the result of a rapid movement in prices or where the market jumps from one price to a much higher or lower price. Where
          gapping through occurs, it may result in a stop Order or Limit Order being filled at a price different than the specified threshold. Stop Orders will
          be filled at a price worse than the threshold price while Limit Orders will be filled at a price higher than the threshold price.

          The difference between Slippage and gapping through is that Slippage is caused when there is a temporary lack of quoted prices while gapping
          through reflects a market which is subject to extreme Volatility and where the prices change too rapidly for the relevant Order to be executed.

          The customer has the ability to control Slippage on direct deal Orders. When the customer submits an Order, they can select the amount of
          Slippage that they will accept. The customer enters a range in Pips, either better or worse, than the direct rate entered. If the market is within
          this range, they will be filled at the new price. The fill may, however, be different than the direct deal price that they submitted. Note: the direct
          deal Order type may not be available for all instruments.

          The risks associated with Slippage or gapping through on a Position Based Forex Contract or CFD contract can be limited by making a
          guaranteed Stop Loss Order which is guaranteed to be executed at the specified threshold price regardless of the movements in or closure of the
          market.

     d)   Margin

          During the period your contract remains open with GFT, you must maintain your Initial Margin Requirement. If your account is not properly
          margined, GFT may Liquidate all Open Positions in the account without further notice, which may mean you will suffer losses. IN THE EVENT
          THAT YOUR ACCOUNT HAS TWENTY FIVE PERCENT (25%) OF THE NECESSARY EQUITY TO MEET THE MARGIN REQUIREMENTS
          OR LESS, GFT SHALL HAVE THE RIGHT TO LIQUIDATE ALL OR ANY PART OF YOUR POSITIONS AT THE MARKET PRICE THEN
          TRADING, WITHOUT PRIOR NOTICE TO THE CLIENT, WITHOUT LIABILITY ACCRUING TO GFT FOR SUCH PROTECTIVE ACTIONS.

          In normal circumstances we will endeavour to notify you of margin call by email to your registered email address as soon as your account
          enters into margin call in accordance with (f) below. This email serves as a notice that your account has breached the minimum required level
          of funds and any Open Positions are at risk of being closed out. You are responsible for monitoring your own account and ensuring adequate
          funds are maintained at all times. We have no obligation to provide notification and this service is provided to you on a best endeavours basis.
          We do not provide notification when an account is approaching a margin call and you are responsible for monitoring your account at all times.

     e)   Initial Margin
          Before GFT executes your instructions, you must deposit the Initial Margin with GFT. However the minimum deposit payable to open an
          Account will be taken into account in determining whether you have sufficient funds in your Account to meet the Initial Margin.

          Your Initial Margin Requirement is the initial amount that is required to be in your account to open a new trading position. How much is required to
          be in your account is based upon the IM Factor, which is determined by GFT as disclosed in the Market Information Sheet. The IM Factor
          works so that you are only required to deposit a percentage of the overall value of your trading contract position instead of having to deposit the
          entire value of your position if you were to purchase the Underlying Security or trading instrument. Below is an example:

          XYZ shares (which is in the S&P/ ASX 100 index) is trading on the ASX between AUD4.53 to AUD4.55. The
          GFT quote for XYZ shares is also between AUD4.53 to AUD4.55.

          You wish to buy 2,500 CFDs for XYZ shares.
          The Market Information Sheet indicates that the IM Factor for shares within the S&P/ ASX 100 index is 10%.

          Your Initial Margin would be based on the following:
               [Number of CFDs] x [GFT's quoted price for XYZ shares] x [IM Factor]

          Accordingly, the Initial Margin to be deposited with GFT is AUD1,137.50 (being [2,500] x [AUD4.55] x [10%]).

          Your Initial Margin must be maintained in respect of all Open Positions. For an account to be in good margin status, the Account Balance must be
          higher than the prescribed Initial Margin Requirement. Your Initial Margin Requirement will fluctuate depending upon market movements of the
          Underlying Security or trading instrument. There is not one single calculation that is used to determine the IM Factor you are subject to. Accordingly
          the IM Factor may change over time, including due to regulatory reasons, Volatility, acts of God, or any unknown factors that GFT may presume in
          the marketplace that could negatively impact its current margin risk assessment.

f)        Minimum Margin Requirements
          Margin Requirements are subject to change without notice, and when issued shall apply to all new and existing positions. Margin
          Requirements may vary between customers.

          •   Forex Contracts, Forex Options, & CFDs trading Margin Requirements
              When you trade on Margin, you will be required to deposit into your account the Initial Margin Requirement as determined by GFT.
              The initial Margin Requirement will be notified to you by GFT before a trade is entered into. Thereafter, you are required to post a
              standard level of Margin in your Base Currency of the value of the Base Currency that you are trading before entering a position. Your
              Margin Requirement is not a static figure and is determined by reference to the initial percentage and daily movements of the Market
              for the relevant Underlying. Margin Requirements may vary based on Margin Requirement requested by the customer and, in the
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         case of Forex Contracts and Forex Options, the Currency Pairs traded.


g)   Email Notification
          GFT will attempt to notify you via email, but GFT is under no obligation to notify you when:
         1.       your account becomes insufficiently margined, and/or
          2.       your account is close to liquidation.

          GFT can close your Open Positions and cancel all Orders with or without giving you notice. You must ensure that you maintain an e-mail
          address at all times and keep us up to date and informed of your current email address. GFT will not use any other means of communication
          to tell you when your account reaches these risk levels.

        You must monitor your Account so that you know whether or not your Account is in risk of being Liquidated. All the information you need in
        order to make these calculations is available from the following sources:
                    DealBook®;
                    Market Information Sheets, located at www.gft.com.au

        You must also make sure you understand how to calculate your Margin Requirement. If you are in any doubt call our Customer Services Team
        at +61.2.9028.7500.

h)   Margin Requirements are Subject to Change
     Margin Requirements for all products (Forex Contracts and CFDs) can fluctuate, and GFT has reasonable discretion to raise or lower
     Margin rates. GFT also reserves the right to set, and to increase or decrease Margin Requirements on a per customer basis. The level
     of your Margin Requirement is therefore subject to change. There is not one single calculation that is used to determine the current
     Margin rates that clients are subject to. They can be changed for regulatory reasons, changes in your account size, Currency Pair or
     position traded, Volatility, acts of God, or any unknown factors that GFT may presume in the marketplace that could negatively impact
     its current Margin risk assessment.

     Please note that an increased Margin Requirement may mean that you are required to transfer additional funds into your Account
     before an order for a Foreign Exchange or CFD Contract will be accepted by DealBook. Also, please note that the increased Margin
     Requirement may result in a Margin Call or possible liquidation. See section 17(q) of the PDS for more information about the risks of
     changes to Margin Requirements.

i)   Effect of Margin Requirements
     Margined transactions carry a high degree of risk. The amount of Initial Margin is small relative to the value of the contract so that
     transactions are ‘leveraged’ or ‘geared’. A relatively small market movement will have proportionately larger impact on the funds you have
     deposited or will have to deposit. Even small trading transactions can lead to substantial losses, which far exceed the liquid or asset value of your
     Account. This may work against you as well as for you. You may lose substantially more than you initially invested. See section 17(b) of the
     PDS for more information about the risks of "leverage" or "gearing".

j)   Calls and Trades may result in losses in excess of the amount invested
     You may sustain a total loss of Initial Margin funds and any additional funds deposited with GFT to maintain your position. If the market
     moves against your position, or if Margin levels are increased, you may be called upon to pay substantial additional funds on short notice to maintain
     your position. If you fail to comply with a request for additional funds within the time prescribed, which may be as brief as a few hours or less, your
     position may be Liquidated at a loss and you will be liable for any resulting deficit. Accounts may be closed out as soon as Account’s funds and/or
     collateral diminish below the Margin Requirement . Margin Requirements may reduce profitability on your Account by requiring that positions
     be sold by you, or GFT, in advance of your desire to Liquidate such positions in order to cover Margins. By entering into the GFT Account
     Agreement, you agree that GFT may, at its reasonable discretion, Close Out any and all positions at anytime if it presents an adverse risk to
     GFT and GFT finds it unreasonable under the facts and circumstances to keep the position open requiring the Close Out, and you will be
     responsible for all resulting losses.

k)   Price Spikes
     No stop Orders or Limit Orders will be filled if an invalid price spike occurs. Bad price spikes occur when an incorrect price is entered into
     DealBook. Bad price spikes are removed from the price charts quickly to alleviate confusion.

l)   Automatic rollover of trades not notified for delivery (Net-Based Forex Only)
     All Forex Contracts and Forex Options contracts remain open until GFT is notified that the transaction is or has been executed for actual delivery on
     the Value Date or the position is Closed Out. For Spot Contracts the Value Date will be the second Business Day after the date when the Order is
     executed, except for USD/CAD contracts. USD/CAD Forex Contracts have a Value Date on the first Business Day after the date when the Order is
     executed.

     The Value Date for forward Forex Contracts will be agreed between you and GFT at the time the Order for the forward Forex Contract is
     executed.

     If you intend to take physical delivery of the Currency in relation to a Forex Contract or Forex Option Contract, this must be communicated to the
     trading desk via email or phone. You will be required to complete a delivery form and return to GFT at least prior to 15:00 hours (3:00 p.m.) (EST)
     (6:00 am AEST) two business days prior to the trade’s Value Date, except for USD/CAD. For USD/CAD Forex Option transactions a Delivery
     Notice may be provided to GFT one business day before the Value Date. At a minimum, you must identify the specific trade by identification
     number to be delivered and provide the delivery deposit, institution’s name, address, telephone number, ABA routing numbers, and the “for credit
     to” account name and number. GFT reserves the right to seek further information it may deem appropriate before executing any such transaction.

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        Alternatively, a transaction which is intended to be executed for actual delivery can be made in a specially notated account, that is, in an
        account in which all transactions are intended for delivery.

        If GFT is not notified of your intent to take actual delivery of the Currency Pair in time, or if the transaction is not made in a specially notated account,
        then any spot Forex Contract or Forex Options contract held at the end of the business day, occurring at 15:00 hours (3:00pm) (EST) (6:00 am AEST),
        will be subject to a roll over via swap transaction into the next business day, with the spot Value Date applicable to that day’s new trades. Any
        forward Forex Contract for which GFT has not received a Delivery Notice on the Value Date for that forward Forex Contract will be subject to
        roll over via swap transaction to the next spot Value Date.
        The roll over process is where trades, for which delivery has not been specified in a timely manner, are rolled over on a daily basis by GFT.

        Rollover permits you to continue to carry a position for which delivery is not desired, that is, the position continues to exist, by Closing Out the
        position and simultaneously re-establishing the position to reflect both current market prices and the same Long or Short Position. The only
        difference between the old position and the new position is that the Value Date has been extended by another day. In addition, to reflect
        current market prices, a new position which has been rolled over reflects a swap rate, also known as forward points. The purpose of the swap rate
        is to account for the interest rate differential between the two currencies in a Currency Pair. For example:

        If Currency A has a higher interest rate than Currency B, the person who holds a Long Position in A and Short Position in B will be receiving payment of the swap rate,
        while the person who holds a Short Position in A and Long Position in B will be paying the swap rate.

        Each day, when rollover occurs, the swap rate is applied to the position with the new Value Date as either a credit or a debit to your Account. The
        swap rate is incorporated into the difference between the Closing Price of the position rolled out of, and the Opening Price of the position rolled into,
        which would be the same in the absence of the swap rate. Therefore, you may make or lose money on this aspect of the rollover, depending on the
        relative interest rates of the Long and Short Positions in respect of the currencies in the Currency Pair that your are holding.

        GFT will continue to roll your positions until you notify GFT of your intention to take delivery or Close Out the Currency position. There
        are no commission charges for these "rollover" transactions.

m)      Financing of Forex Trades - Position Based
        Each business day at 3:00 pm EST (6:00 am AEST), a debit or credit will be applied to your Account to account for the interest payment or
        receipt due as a result of the positions held in your Account. This procedure will occur daily until you Close Out the Currency position.
        Delivery is not available if you are trading on a Position Based system. All positions will remain open until closed by you.

 17. PRINCIPAL RISK FACTORS
Trading Forex Contracts, Forex Options, or CFDs carries a high level of risk, and may not be suitable for all investors. The high degree of Leverage can work
against you as well as for you. Before deciding to trade Forex Contracts, Forex Options, and CFDs, you should carefully consider your investment objectives,
level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should
not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading, and seek advice from an independent
financial advisor if you have any doubts. Past results are not necessarily indicative of future results.

When engaging in trading, your liability is not limited to the initial investment or to the equity in your Account, but rather it extends to all losses incurred in
relation to your Account.

Trading in Forex Contracts, Forex Options, and CFDs contracts involves a high degree of risk that will continue to exist notwithstanding the use of
methodical market analysis, disciplined trading strategies, the employment of sophisticated market order entry, surveillance, and Stop Loss Orders or
other similar strategies. Further, although you may seek to reduce your risk through relative diversification or other trading strategies, you cannot be
assured that substantial losses will not in fact occur.

This risk will remain notwithstanding any performance calculations that may be demonstrated or any that may have been provided by a third party trading
system, course, program, research, recommendation, or by a representative or other agent of GFT, even if such may be interpreted as showing stability of
principal and a return on the same. Consequently, no assurances may be given concerning the preservation of Capital invested, a return on Capital, or that
further Capital contributions may not be required from you in certain market circumstances. The risk factors contained in this section are not intended to be
an exhaustive explanation of the risks involved with investing, trading of financial products the subject of this PDS but provides the significant risk you
should be aware of in trading such financial products.

Part 1: Risks applying to all products offered under this PDS (Forex Contracts, Forex Options, and CFDs)

The following specific risks all apply to trading in Forex Contracts, Forex Options, and CFDs:

  a) Volatility risk.
         Forex Contracts and Forex Options, and CFDs can be extremely volatile.
         Prices can substantially increase or decrease without notice. Price movements of interests are influenced by numerous factors. Depending of
         the relevant type of Underlying, different factors will impact on the movement in the Underlying market price. Among them include:
         •         changing supply and demand relationships;
         •         government trade, fiscal, monetary and control policies at the local, national, and international level, as well as, a variety of other
                   political events;
         •         trade functioning;
         •         advancement and degradation in industrial technology;
         •         changes in interest rates;
         •         changes in foreign Exchange Rates, and the value of your Account may vary or decline according to prevailing Currency Exchange
                   Rates versus your market positions and although an Account has previously obtained positive trading results, no assurances may be
                   given that such will occur in the future.
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     •         the ability to disseminate information on a global scale; and
     •         various other occurrences and events.

     If you do not have the extra Capital you can afford to lose, you should not begin trading.

b)   Leverage risk.
     Leverage risk arises from the margining system applicable to Forex Contracts, Forex Options and CFDs, which generally involves you paying an
     Initial Margin which is a comparatively small proportion of the total consideration payable for the trade. A relatively small movement in the
     Underlying Asset can have a substantial effect on your trade. An adverse movement in the price cannot only quickly result in the loss of your
     entire Margin, but may also expose you to a large additional loss since the Margin as a proportion of the total trade consideration may be less
     than the adverse movement of the price. This means that you could lose the initial equity you invest plus the additional value of the total trade
     which we have lent to you to enable you to start trading with us. See section 16(i) of the PDS for more information about Leverage.

     You should also be aware that Leverage risk can be increased through the use of a credit facility or any form of borrowing to fund your trading in
     Forex Contracts, Forex Options, and CFDs.

c)   Risk of fluctuations and resulting losses.
     You bear the risk for all fluctuations in the market value of your Account and you are responsible for any delays in crediting or debiting of your
     Account and any losses that derive from such delays.

d)   No guarantee of profit potential.
     GFT cannot guarantee that you will receive any return on your investments or that you will not lose some, all, or additional sums of your Capital.
     GFT considers that all funds used for, and added to, your Account for Forex Contracts, Forex Options, or CFD trading, should derive from
     Capital that has been set aside strictly for speculative investment purposes. All such funds used for speculative investing should be considered
     as disposable income by you and any loss of this money should not affect your lifestyle.

e)   Risk of unprofitability.
     There exists a Credit Risk that GFT itself may be subject to adverse trading losses which could, in turn, jeopardize the capital you have on
     account with GFT.

f)   Lack of registration, official approval, or endorsement.
     The investment opportunities detailed in this PDS have not been, and will not become, registered under any federal or any state securities or
     commodities law in the United States or Australia. These investment opportunities have not been officially approved or disapproved by the SEC,
     the CFTC, or any US state regulatory authority or ASIC. No regulatory authority has passed upon or endorsed the merits of this investment or
     the accuracy or adequacy of this document. You must rely upon your own and/or your financial, legal and/or tax advisor's examination of GFT
     and the merits and terms of this investment in making a decision whether to make this investment.

g)   Lack of insurance protection.
     An Account maintained with GFT is not insured and is not guaranteed by the Australian Government, the US Government or any other entity.
     Consequently, there are no assurances given that your Account will maintain any value should GFT discontinue business through no fault of its
     own.

h)   Potential conflicts of interest.
     GFT’s trading activities may give rise to certain conflicts of interest with regard to your Accounts.
     Occasionally, GFT officers and/or employees may take open market trading positions distinct from those of the investor. Additionally, other
     trading investors using the services of GFT may take positions either advantageous to or adverse to that of other GFT investors.

i)   Potential conflicts of interest with respect to counterparties.
     GFT’s trading activities may give rise to certain conflicts of interest with regard to market trading. This is because GFT quotes the prices at which
     it will enter into trades with you, acts as a principal in the trade and either buys or sells the Forex Contract, Forex Option, or CFD position sought
     by you. In this capacity, GFT acts as the counterparty to your trades and the relationship between the potential loss of one party (e.g. you) and
     the potential gain of another party (e.g. GFT) are directly comparable. In various select circumstances, GFT may or may not either Offset or
     place a hedge trade against the position it has taken from you. In those cases where an accepted trade is passed on to a second trading dealer
     or a hedge position is taken against the trade Exposure taken by GFT on your behalf, GFT should have no concern whether your position
     appreciates in value, or otherwise, as GFT’s capital should not be at risk. Yet, in those cases where GFT, acting as the counterparty, takes the
     trade Exposure, then its capital structure is at risk directly proportionate to your trading position, although the same must be measured against its
     entire account base being maintained on behalf of its overall clients' net market position.

j)   External market trading risk
     Trading on a financial market on which an Underlying Asset is traded may be suspended or halted at any time. This means that, during that
     trading Suspension or halt, you may not be able to effect new or existing Orders or Close Out of any existing Open Positions in a Forex
     Contract, Forex Option, or CFD where trading in the Underlying Asset for that Forex Contract, Forex Option, or CFD is suspended or halted.

     In addition, your open Forex Contract, Forex Option, or CFD position may be closed if there is any interruption to trading on the market for the
     Underlying Asset or if the Underlying Asset is no longer traded for any other reason, for example where the index on which the Underlying Asset
     is based is no longer traded. As a result of such Suspensions, halts or interruptions you may realise a loss on that Forex Contract, Forex Option,
     or CFD trade where you are prevented from implementing your desired trading strategy.

     We have the discretion, where trading in an Underlying Asset of any GFT product or service is halted or suspended, to:
     1. close any Open Positions in the affected Forex Contract, Forex Option, or CFD;
     2. void or cancel any Open Positions in the affected Forex Contract, Forex Option, or CFD;
     3. adjust the price or value of any Open Position in the affected Forex Contract, Forex Option, or CFD;
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     4.   suspend trading or alter trading times or the trading rules of DealBook;
     5.   not accept any Market Order;
     6.   vary the Initial Margin or Margin Requirement, IM Factors, minimum and maximum sizes and our prices;
     7.   require immediate payment of all amounts owing to us;
     8.   vary the method of calculating the financing charge;
     9.   do or omit to do anything it believes reasonable to protect itself and its clients.

     These halts, suspensions or interruptions may cause you to suffer a loss, for example because they prevent you from implementing your
     desired trading strategy in respect of the affected products.

     GFT generally prohibits new Forex Contract, Forex Option, or CFD positions from being opened, or existing positions to be varied or closed, if
     trading in the underlying asset is halted or has been suspended. If GFT chooses to quote a market during a halt or suspension in the Underlying
     Asset, GFT reserves the right to widen the spread on that asset, but GFT will not modify margin requirements of any position or close out
     procedures. The Director of Global Execution and Market Making determines whether GFT will quote a market and will make the decision
     whether to accept or reject orders during any halt or suspension in a market. If GFT chooses to quote during a halt or suspension, GFT will
     quote using out-of-hours pricing. There are additional risks of opening a trading position when an Underlying Asset is suspended or halted,
     including the risk that you will not be able to close out your position during the time that the Underlying Asset is suspended or halted.

     Checks within the system will ensure any order triggered on a market that is halted or suspended is referred to the GFT dealing desk.
     Depending on the reason why trading in the particular market was halted or suspended, and whether it is likely to be halted or suspended for
     only short time or more long term, the Director of Global Execution and Market Making may also choose to suspend the GFT market until the
     Underlying Asset is available in the relevant market.

k)   Maintenance of trades and account positions.
     It is your obligation and duty to maintain supervision and surveillance over the trades entered into your Account and to ensure that your
     Account has sufficient Margin to maintain market positions. The ability to determine the actual activity in an Account, including profits, losses,
     and current cash equity balance is made available to you, among other methods, by internet access to GFT’s software. GFT cannot be
     held responsible, however, for any communication or internet breakdowns, difficulties or delays. GFT may act to Offset improperly maintained
     positions without notice to you (e.g. failure to maintain necessary or minimum required Margin). In addition, account summaries, statements,
     confirmations, purchase and sales and notices may be accessed via your computer to GFT's internet link to its server which may be
     accessed only with software provided to you by GFT.

l)   Risk of illiquidity.
     The market for some or all Forex Contracts, Forex Options, or CFD trading may have a low trading volume and become illiquid. The lack
     of liquidity may prevent you from taking positions in Forex Contracts, Forex Options, or CFDs or from promptly liquidating unfavourable
     positions in such trading, thus resulting in you incurring substantial losses.

m)   Day trading risks.
     If you engage in day trading, you experience particular risks. These risks include, but are not limited to:
     •    the risk that Dealer Spreads for frequent trading can reduce, eliminate, or exceed the profits that might be obtained from day trading
          in the absence of such costs. Such transaction costs may also vary significantly to the amount of any trading losses that may be
          incurred; the risk that a position which might be profitable over a long period of time might be unprofitable during the course of a
          single day and thus could result in a loss;
     •    there is also a risk in day trading that you might wish to exit the market before the end of the trading day but, due to market
          conditions, such as illiquidity, may be unable to do so, thus resulting in you having to remain in the market for a longer time than
          intended.

n)   Technological risks
     GFT cannot guarantee that DealBook will be available at all times or accessible when the exchanges on which the underlying in respect of
     which you have traded or wish to trade are open. GFT have recovery procedures in place to minimise the time which the internet trading
     platform is either unavailable or inaccessible.

     Trading Facilities: Most electronic trading facilities are supported by computer-based component systems for the order-routing, execution,
     matching, registration or clearing of trades. As with all facilities and systems, they are vulnerable to temporary disruption or failure. Your
     ability to recover certain losses may be subject to limits on liability imposed by the system provider, the market, the clearing house and/or
     member firms. Such limits may vary. You should ask the firm with which you deal for details in this respect.

     Electronic Trading: If you undertake transactions on an electronic trading system, you will be exposed to risks associated with the system
     including the failure of hardware and software. The result of any system failure may be that your Order is either not executed
     according to your instructions or is not executed at all.

     Internet Trading Risks: There are risks associated with utilizing an Internet-based deal execution trading system including, but not limited
     to, the failure of hardware, software, and Internet connection. Because GFT does not control signal power, its reception or routing via
     Internet, configuration of your equipment or reliability of its connection, GFT is not responsible for communication failures, distortions or
     delays when trading via the Internet. GFT employs back-up systems and contingency plans to minimize the possibility of system failure,
     and trading via telephone is always available.

     Accuracy of Information: The content on GFT's website is subject to change at any time without notice, and is provided for the sole
     purpose of assisting you to make independent investment decisions. GFT has taken reasonable measures to ensure the accuracy of the
     information on the website. GFT, however, does not guarantee its accuracy, and is not liable for any loss or damage which may arise
     directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of
     any instructions or notifications sent through this website.

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     Differences among electronic trading systems: Trading or routing Orders through electronic systems varies widely among the different
     electronic systems. You should consult the rules and regulations of the electronic system and/or listing the contract traded or order routed
     to understand, among other things, in the case of trading systems, the system’s Order matching procedure, opening and closing
     procedures and prices, error trade policies, and trading limitations or requirements; and in the case of all systems, qualifications for access
     and grounds for termination and limitations on the types of Orders that may be entered into the system.

     Each of these matters may present different risk factors with respect to trading on or using a particular system. Each system may also
     present risks related to system access, varying response times, and security. In the case of internet-based systems, there may be
     additional types of risks related to system access, varying response times and security, as well as risks related to service providers and
     the receipt and monitoring of electronic mail.

o)    Failure of GFT- counterparty risk
     The Forex Contracts, Forex Options, and CFDs we offer are over the counter transactions. This means that when you trade any of these
     products with us, the transaction is not undertaken on a licensed financial market such as a securities exchange or futures exchange.
     Therefore, some of the protections afforded to trades conducted on licensed markets, such as having the benefit of a central clearing
     house to guarantee our obligations to you under Forex Contracts, Forex Options, or CFDs, are not available for trading with us. We are
     your counterparty in each Forex Contract, Forex Option, and CFD you enter into and so you are directly exposed to the financial risk of
     dealing with us. As a consequence, if GFT were to become insolvent or otherwise fail to maintain its business then there is the possibility
     that we might not be able to meet any or all of our obligations under the Forex Contracts, Forex Options, or CFDs we enter into with you.
     This means that you could suffer a loss if we are unable to pay to you any amounts we owe you in respect of a Forex Contract, Forex
     Option, or CFD transaction.

     If you wish to obtain information about GFT's financial position, please go to the web page for the US Commodity Futures Trading
     Commission (CFTC), and use the following link to see GFT's net capital amount as reported to the CFTC:
     http://www.cftc.gov/marketreports/financialdataforfcms/index.htm

     In addition, GFT will provide you with a copy of its latest financial statements as filed with ASIC, free on request.

p)   Margin risk
     In exercising our rights under the GFT Account Agreement we may close any of your open Forex Contract, Forex Option, or CFD
     positions, exercise a right of set-off, close your accounts or refuse to accept any further trades from you upon the occurrence of an event
     of default or if your account moves into deficit (see further discussion below) and it is necessary to mitigate both your and our losses or as
     otherwise provided in the GFT Account Agreement. You may realise a loss on that Forex Contract, Forex Option, or CFD when your
     position is compulsorily closed out or may be otherwise prevented from implementing your desired trading strategy.

     The Margin Requirement is the amount that is required to be deposited with us in order to open and maintain a Forex Contract, Forex
     Option, or CFD position and represents a percentage of the contract value. . If the market moves against you and your account moves into
     deficit, we will compulsorily Close Out your position, potentially at a loss to you, and you will be liable to us for any resulting deficit.
     Therefore you should not open trades in Forex Contracts, Forex Options, or CFDs in sizes that are so large that you are not sure that you
     will be able to continue to satisfy the Margin Requirement if the market moves against you.

q)   Client monies account risks
     As noted in section 12, GFT will hold funds you deposit with us in a segregated client monies account which is operated as a trust account.
     This ensures that clients' funds are kept separate from GFT's funds.

     All client funds are pooled together in the client monies account and therefore we may use funds in the client monies account belonging to
     one client for meeting Initial Margin obligations arising from dealings on behalf of another client.

     It is important to note that, because of this pooling of client monies, holding your funds in one or more client monies accounts may not afford
     you absolute protection. This pooling exposes you to the risk that your funds may not be protected if there is a default by another client that
     causes a loss to the overall client monies account balance. If there is a deficit in the client monies account and GFT becomes insolvent before
     it makes up the deficit in the client monies account or GFT is otherwise unable to pay the deficiency, then you will be an unsecured creditor of
     GFT in relation to the balance of any moneys owing to you from the client monies account. This means that you may not be able to recover
     any or all of these monies owing to you from GFT. In addition, GFT does business and holds client funds in other countries, therefore the
     application of foreign law in those countries could result in lesser protection for the funds of Australian clients, including that you could become
     an unsecured creditor of GFT, itself a foreign company. See Sections 12 and 13 of this PDS for more information about client monies
     account(s) and the risks to you.

r)   Jurisdictional risk
     As stated above, GFT is a United States company which is registered as a foreign company in Australia and also does business in other
     countries. The laws of the United Sates and these other countries may be different from Australian laws. To the extent that the laws of
     another country could apply to you and GFT, then the application of these laws could result in lesser protection for you than under
     Australian laws.

s)   Changes in fees and costs risk
     The Margin requirements, fees and costs associated with trading in Forex Contracts, Forex Options, or CFDs and can be found in Section
     16 or on our website at www.gft.com.au. These fees and costs can be changed by GFT under the GFT Account Agreement subject to
     providing existing clients with 30 days' prior notice of any increase in fees and costs. All changes that are materially adverse to investors,
     that is, changes of a material and extraordinary nature, which may reasonably be likely to have a material influence on a decision of a
     reasonable client to trade, will be disclosed by way of a Supplementary PDS (SPDS) or a new PDS. Otherwise, any changes in fees and
     costs that are not materially adverse to investors, for example changes made as a result of the day-to-day Volatility of the regular market
     functioning will not require the issue of a SPDS or new PDS and will be notified to investors on our web-site on the day the change
     becomes effective.
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 t)   Regulatory change and legal risk
      Regulatory changes in taxation, corporations and other laws, as well as fiscal, monetary and regulatory policy changes may affect your
      dealings with GFT and may restrict the types of Forex Contracts, Forex Options, and CFDs that we are able to offer you.

      Furthermore, as a member state of the United Nations, Australia is obliged to implement United Nations Security Council sanctions.
      Australia also may be required to implement other international sanctions and sometimes imposes unilateral sanctions. Sanctions can
      cover various subject matters including financial restrictions. Consequently, we may be prohibited from dealing with certain persons or
      entities. This means that if we become aware that you are a proscribed person or entity, then we may be required to suspend, cancel or
      refuse your services or close or terminate any Account, facility, transaction, arrangement or agreement with you. This may cause you to
      suffer a financial loss as well as have opportunity costs for you.

 u)   Event of default
      Pursuant to the GFT Account Agreement we may close your position, exercise a right of set-off, close your Accounts or refuse to accept
      any further instructions from you upon the occurrence of an event of default as defined by the GFT Account Agreement.

 v)   Risks of trading in accordance with third party systems, courses, programs, research or recommendations.

      •    No endorsement of third party systems or other methods.: GFT does not and cannot endorse or vouch for the accuracy or completeness of
           any information or advice you may have received or may receive in the future from any person not employed by GFT.

      •    Reliance on third party information or advice.: If any third party, including any third party who may recommend GFT, provides you with
           information or advice, GFT is in no way responsible for any loss subsequently incurred by you resulting from reliance on such
           information or advice.

      •    Risk of using third party systems and/or other methods.: To the extent that you have been led to believe or believe that utilizing any third party
           trading system, course, program, research or recommendations may result in trading profits, including trading done pursuant to a
           system, course, research or recommendation of a third party involves risk of loss. Additionally, you should understand that the use of
           a third party trading system, course, research or recommendations will not necessarily result in profits, and avoid losses or in any way
           limit losses.

Part 2: Risks specifically applying to Forex Contracts

 a)    Maximum and minimum trade limits/Restricted trade sizes
      GFT may impose limits on the size of any Forex position you wish to open. A minimum size may be set by GFT. A trade can be no more
      than the maximum size set by GFT. GFT may refuse to open a trade which is lower than the minimum size or larger than the maximum
      size of trade. Where your position evolves to be outside the maximum or minimum size limits, GFT may also Close Out your position
      pursuant to the terms and conditions in the GFT Account Agreement. There are limits on the size of any Forex position as follows:
       o Minimum size: the size must at least be equal to the minimum size GFT determines.
       o Maximum size: the size cannot be more than:
          •     the maximum size GFT determines set; or
          •     if lower, the maximum size is calculated as follows:

                    Your proposed current position divided by (price multiplied by IM Factor for the trade you wish to place). Note that price is the GFT
                    quoted current price of the trade you wish to place.

      Depending on the size of any Offer to trade, we are entitled to accept and execute it in tranches. The maximum and minimum size limits
      are set out in the Market Information Sheets.

 b)    Adverse effects of increased regulation of Currency interests
      To the extent that you will be entering into Currency transactions in the US, you will be subject to US rules and regulations. Regulation of
      Foreign Currency trading in the US is undertaken by federal authorities. Such regulation is ongoing rather than static, therefore making it
      impossible to predict what statutory, administrative, or exchange imposed restriction may become applicable in the future. Consequently, it
      is not possible to accurately anticipate what, if any, regulatory changes may be imposed on the free flow and trading of currencies and
      how such actions might affect GFT’s services and ability to allocate and reallocate assets to and from the trading of currencies. Currency
      markets and values are largely dependent on the success or failure of traditional financial and Stock Markets in the home country of the
      Currency. In today's global economy, Currency values may also be dependent on stocks that are tied to another nation's exchanges.
      These stock, financial, and Currency markets may be subject to increased scrutiny by regulatory authorities. Regulations could
      significantly restrict GFT’s ability to allocate and reallocate assets to and from Currency positions to your detriment. Government
      intervention and/or regulation may also cause a rapid shift in the value of certain currencies and possibly lead to large scale losses.

 c)    Possibility of investment being construed as a Security
      Investments in Foreign Currency are not a Security for US legal purposes. Nevertheless, no assurances can be given that the SEC or any
      other securities regulator in the US will not attempt to expand its jurisdiction and bring an action claiming that Forex Contracts trading is a
      Security. GFT, relying on the advice of its US legal counsel, believes that the trading activity offered herein cannot be defined as
      securities. This belief is based on applicable US securities laws. While GFT believes this to be an accurate interpretation of the applicable
      laws, no assurances can be given that this belief is in fact correct, or if correct that it will nevertheless be challenged. Should a court of
      competent jurisdiction decide that investments in Forex Contracts, such as those described in this PDS, are securities, such decision,
      together with any sanctions that may be imposed, could have a material adverse effect on GFT’s business, operations, and value of your
      Account. The SEC does not regulate Currency transactions unless the particular transaction occurs on a US stock exchange, or if those
      transactions are not performed by the efforts of others than those owning the Account. GFT, relying on the advice of its US legal counsel,
      believes that the trading in Forex Contracts, as described in this PDS does not constitute the offering of a Security in the US.
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          Notwithstanding this belief, no assurances are given that the SEC will not decide that such trading constitutes the offering of a Security
          and thus intervene in GFT’s activities. Such intervention may or may not have an adverse effect on the operations of GFT and on your
          Accounts.

     d)   Possibility of investment being construed as a Commodity
          The issue of whether these investments in Currency trading constitute commodities, and therefore must be bought and sold in accordance
          with applicable US Federal Laws, although seemingly resolved that such is not subject to being regulated under the CEA, no assurances
          can be given that the CFTC will not attempt to expand its jurisdiction and bring an action claiming that Forex Contracts, Forex Options
          trading or the species of same conducted by GFT is subject to regulation under the CEA. GFT, relying on the advice of its US legal
          counsel, believes that the investments offered in this PDS cannot be defined as commodities. This belief is based on applicable US
          commodities laws. Should a court of competent jurisdiction decide that investments in Foreign Currencies, such as those described in this
          PDS, are commodities, such decision together with any sanctions that may be imposed, could have a material adverse effect on GFT’s
          business, operations, and value of your Account. The CFTC does not regulate Currency transactions if those transactions are not
          performed via a United States board of trade. GFT, relying on the advice of its US legal counsel, believes that the Currency trading
          described in this PDS does not constitute trading that occurs on a board of trade. Notwithstanding this belief, no assurances are given that
          the CFTC will not decide that such trading constitutes regulated transactions and thus intervene in GFT’s activities. Such intervention may
          or may not have an adverse effect on the operations of GFT and on your Accounts.

Part 3: Risks specifically applying to Forex Options
a)        Options-variable degree of risk.
          The risks inherent in a Forex Option transaction will depend on whether you are the purchaser or the seller of the Forex Option and the
          style of the Forex Option.

          Where you, or a third party on your behalf, purchases a Forex Option, you may suffer a total loss of Premium (plus transaction costs) if that
          Option expires worthless. If you are contemplating purchasing deep-out-of-the-money Options, you should be aware that the chance of
          such Options becoming profitable ordinarily is remote. This risk reflects the nature of a long Forex Option or an asset that tends to decline
          in value over time. The price of the underlying Currency must either rise above the strike price, or fall below the strike price, as the case
          may be, by an amount in excess of the sum of the Premium and all other costs incurred in entering into and exercising the Option for you
          to realize a profit on the transaction.

          Where you or a third party on your behalf sell (writes) an Option the risks are greater. Where you have sold Options with a higher face
          value than Options you have bought, risks can be greater than those associated with forwards. If the written Option is “covered” by a
          corresponding physical Currency position or forward commitment, the risk of loss may be reduced. If the written Option is not covered,
          you will be exposed to full price risk on the Forex Option; consequently, the risk of loss can be unlimited.

          An American-style Option may be exercised at any time (i.e. on any Business Day) during the specified exercise period prior to the
          expiration. If you sell an American-style Option to GFT, the Option may be exercised at GFT’s discretion, thus you cannot be sure of your
          position resulting from the Option until the expiry date. A European-style Option may be exercised only on the specified exercise date. An
          Asian-style Option is a variant of the European-style Option. Otherwise known as an “average price” Option, in an Asian-style Option the
          reference price in relation to the underlying Currency is derived from an agreed calculation method/formula, which, by way of example,
          may be based upon an average of an underlying Currency’s market price at predetermined dates occurring during a specified averaging
          period, with the exercise date occurring at the end of such averaging period.

          In addition to the above risks, fluctuations in the Forex rates of the currencies underlying Options may result in dramatic and volatile price
          movements of the Forex Options. In a rapidly changing or illiquid market, you may not be able to sell or cover your position at a desired
          price. The movement of Forex rates of the currencies that underlie Options cannot be predicted and profits, or the return of the initial
          investment, cannot be guaranteed.

b)        Adverse effects of increased regulation of Currency interests
          To the extent that you will be entering into Currency transactions in the US, you will be subject to US rules and regulations. Regulation of
          Forex Options trading in the US is undertaken by federal authorities. Such regulation is ongoing rather than static, therefore making it
          impossible to predict what statutory, administrative, or exchange imposed restriction may become applicable in the future. Consequently, it
          is not possible to accurately anticipate what, if any, regulatory changes may be imposed on the free flow and trading of currencies and how
          such actions might affect GFT’s services and ability to allocate and reallocate assets to and from the trading of currencies. Currency
          markets and values are largely dependent on the success or failure of traditional financial and stock Markets in the home country of the
          Currency. In today's global economy, Currency values may also be dependent on stocks that are tied to another nation's exchanges.
          These stock, financial, and Currency markets may be subject to increased scrutiny by regulatory authorities. Regulations could significantly
          restrict GFT’s ability to allocate and reallocate assets to and from Currency positions to your detriment. Government intervention and/or
          regulation may also cause a rapid shift in the value of certain currencies and possibly lead to large scale losses.

c)        Possibility of investment being construed as a Security
          Investments in Forex Options are not a Security for US legal purposes. Nevertheless, no assurances can be given that the SEC or any
          other securities regulator in the US will not attempt to expand its jurisdiction and bring an action claiming that Forex Options trading is a
          Security. GFT, relying on the advice of its US legal counsel, believes that the trading activity offered herein cannot be defined as securities.
          This belief is based on applicable US securities laws. While GFT believes this to be an accurate interpretation of the applicable laws, no
          assurances can be given that this belief is in fact correct, or if correct that it will nevertheless be challenged. Should a court of competent
          jurisdiction decide that investments in Forex Options, such as those described in this PDS, are securities, such decision, together with any
          sanctions that may be imposed, could have a material adverse effect on GFT’s business, operations, and value of your Account. The SEC
          does not regulate Currency transactions unless the particular transaction occurs on a US stock exchange, or if those transactions are not
          performed by the efforts of others than those owning the Account. GFT, relying on the advice of its US legal counsel, believes that the
          trading in Forex Options, as described in this PDS does not constitute the offering of a Security in the US. Notwithstanding this belief, no
          assurances are given that the SEC will not decide that such trading constitutes the offering of a Security and thus intervene in GFT’s
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        activities. Such intervention may or may not have an adverse effect on the operations of GFT and on your Accounts.

d)       Possibility of investment being construed as a Commodity
        The issue of whether these investments in Currency trading constitute commodities, and therefore must be bought and sold in accordance
        with applicable US Federal Laws, although seemingly resolved that such is not subject to being regulated under the CEA, no assurances
        can be given that the CFTC will not attempt to expand its jurisdiction and bring an action claiming that Forex Contracts, Forex Options
        trading or the species of same conducted by GFT is subject to regulation under the CEA. GFT, relying on the advice of its US legal
        counsel, believes that the investments offered in this PDS cannot be defined as commodities. This belief is based on applicable US
        commodities laws. Should a court of competent jurisdiction decide that investments in Foreign Currencies, such as those described in this
        PDS, are commodities, such decision together with any sanctions that may be imposed, could have a material adverse effect on GFT’s
        business, operations, and value of your Account. The CFTC does not regulate Currency transactions if those transactions are not
        performed via a United States board of trade. GFT, relying on the advice of its US legal counsel, believes that the Currency trading
        described in this PDS does not constitute trading that occurs on a board of trade. Notwithstanding this belief, no assurances are given that
        the CFTC will not decide that such trading constitutes regulated transactions and thus intervene in GFT’s activities. Such intervention may
        or may not have an adverse effect on the operations of GFT and on your Accounts.

Part 4: Risks specifically applying to CFDs
a)      Risk of Slippage and gapping through
        The underlying markets for CFD products are subject to fluctuations. These fluctuations can result in a rapid change in the price of the underlying
        and the derived CFD price. A fluctuation can have a significant effect on your position. Markets may also be subject to gapping through. Gapping
        through is the result of a rapid movement in prices or where the market jumps from one price to a much higher or lower price. You bear the risk
        for all fluctuations in the market value of your trading account and you are responsible for any delays in crediting or debiting of your account and
        any losses that result from such delays. For more information about the risks associated with Slippage and gapping through, see Section 16(c) of
        the PDS.

b)      Risk of fluctuations and resulting losses.
        You bear the risk for all fluctuations in the market value of your Account and you are responsible for any delays in crediting or debiting of your
        Account and any losses that derive from such delays. The underlying markets for CFD products are subject to fluctuations. These fluctuations
        can result in a rapid change in the price of the underlying and the derived CFD price. A fluctuation can have a significant effect on your position. .

c)      Specification risk.
        GFT may vary any specifications or rules which apply to a market or underlying with or without giving you prior notice if the variation is not
        substantial or material (in particular by publishing details in the Market Information Sheet), but no change will apply to any trade or Order
        current prior to the date on which the change is to become effective. As mentioned above, the current specifications and rules will be in the
        Market Information Sheet. However, GFT will provide you with information regarding the charge as soon as reasonably practicable after
        the change, but in any event not more than 3 months after the change occurs, as required under section 1017B(5) of the Corporations Act.

d)      Interest risk.
        Under the terms of the GFT Account Agreement, GFT may charge you interest on any late payments. The rate of interest will be four (4)
        percentage points above the Reference Rate or the maximum interest rate allowed by law, if lower. GFT will charge you this interest until
        you have paid the amount in full. GFT will also charge you this interest before and after any judgment we might obtain against you. You
        can obtain additional information about the Reference Rate on request from GFT or on our website.

e)       Unfavourable Exchange Rate movements.
        CFD trades are conducted in the relevant Currency. For example, an equity CFD for a US company will be settled in USD. The profit or
        loss made on a CFD trade may be adversely affected by the Exchange Rate applied at the time of settlement. Your net position in terms of
        AUD will depend on the difference of conversion rate applied to the relevant Currency Pair when you open and when you close your CFD
        position

f)      Cessation of the Underlying.
        Pursuant to the GFT Account Agreement we may close your CFD position if there is a substantial change to the Underlying, or to the basis
        on which the Underlying is calculated, an interruption to trading in the Underlying or if the Underlying ceases to be traded for any reason.
        For example, for an equity CFD, the relevant company ceases to be a listed entity on a stock exchange.


 18. FOREX & FOREX OPTIONS INVESTING: THE BASICS
Transactions in Foreign Currency or Forex Options are volatile and any investment in such transactions is exposed to the risk of complete depletion of an
Account and can expose you to losses beyond the Account’s value.

GFT strongly encourages prospective investors to study carefully the international monetary system in order to gain a firm understanding of the nature of
the trades you will be engaging in and to carefully read this PDS to fully understand all the risks involved in transactions in Foreign Exchange Contracts.

Forex Options (Forex Trading)
A Forex Option is a contract that gives the option buyer the right to buy or to sell a predetermined amount of a particular Currency against another
Currency at a predetermined price (rate).

A call Option gives the buyer the right to buy the first Currency in the cross (base).

A put Option gives the buyer the right to sell the first Currency in the cross (base).

It is possible to have more than one contract traded at the same time to take advantage of different strategies.

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The basic components of a Forex Option are:
1. The Currency cross underlying the Forex Option contract (e.g. EUR/USD).
2. The Forward Rate of the actual underlying Currency cross (example: 1.1250).
3. The right to buy the Currency cross (call) or the right to sell the Currency cross (put).
4. The price at which the Forex Option purchaser can buy or sell the Currency cross (the strike price).
5. The date the Option expires. An Option has a date predetermined as to when it expires. Typically Forex Options are written to expire a set number of
    days, weeks, or months from when the contract was purchased (e.g. three months).
6. The face amount of the Forex Option. This is the volume of the Base Currency the trader will be allowed to buy or sell if the Forex Option is
    exercised.
7. The Premium which the buyer will pay the seller to acquire/purchase the Forex Option. This Premium will be set before the Forex Option is
    purchased and is typically set by the Forex Option seller. The buyer has to agree to the Premium before the trade is made. This Premium
    represents the entire amount a Forex Option buyer can lose on the Forex Option position.
8. Whether the Forex Option can be exercised any time (American style) or whether the buyer has to wait until the Option expiration date to exercise
    (European style). GFT allows trading in European style Option trading.

The contract only lasts for a certain amount of time and the end of the contract is specified at the time the trade is entered into. This is called the
expiration. The expiration date and time is standard for each Currency Pair. However, different Currency Pairs may have expiration times that differ from
each other.

The buyer is not obligated to buy or sell the particular Currency Pair but may choose to do so if he/she wishes or if it is fiscally advantageous for the
buyer to do so at the Option expiration. You may also choose to close the Option contract before the expiration. To close an Option position the client
would simply sell the exact same Option that was originally bought (or buy the exact same Option that was originally sold).
Currency Options are generally traded in Round Lots of 100,000 units of the Base Currency Pair.

You may buy a Forex Option or sell a Forex Option. Selling a Forex Option may carry very substantial risk and, where the Option is not "covered" (as
described in section 17, part 3(a)), then the risk of loss can be unlimited. The Margin Requirement for selling an Option is 2% of the face amount. A short
Option position could be Liquidated if the equity in an Account falls below 1% of the face amount. Of course, other positions will affect the Margin
Requirement of an Account.

A buyer of an Option can only lose the Premium that was paid to buy the Option contract and thus has limited risk.

A Forex Option is considered in-the-money at expiration if the strike price of the Forex Option is such that it is advantageous for the buyer to exercise the
Option (i.e. the market is higher than the strike price for a call, or, the market is lower than the strike price of the put). All Forex Options that expire in-the-
money will automatically be exercised. The buyer of a call will buy the Currency Pair at the designated strike rate. The buyer of a put will sell the Currency
Pair at the designated strike rate. Of course, the seller of the Option would take the opposite position if the Forex Option is exercised.


 19. NET BASED AND POSITION BASED FOREX TRADING
     a. Net Based FX
Historically, GFT’s trading system has been a “net based” system. Net based trading systems have been used for many years for trading by large FX
traders, including international money center banks. This system takes all open trades and does a daily “roll” which re-prices the Open Positions at the
prevailing market rates. This roll process includes slight price adjustments which take into consideration the interest components associated with the short
and Long Positions associated with each Currency Pair. Therefore, after the daily roll, all Open Positions lose their connectivity from the original trade and
become “fungible,” i.e. indistinguishable from other trades of the same Currency Pair.

An example:
    Foreign Exchange
                                                         Base                    Counter
   Transaction                      Order                             Exchange                                                  Commission,
                    Currency Pair            Buy/Sell   Currency                 Currency          Value Date        Order#                    Profit/Loss, USD
    Date/Time                       Type                                Rate                                                       USD
                                                        Amount                   Amount


 9/4/2009   15:52     AUD/USD         DDL           S   10,000   DB    0.8463     8,463     DB   9/8/2009   19:00   302245632     0.00   CR              0.00    CR
 9/4/2009   15:52     AUD/USD         DDL           S   10,000   DB    0.8464     8,464     DB   9/8/2009   19:00   302245714     0.00   CR              0.00    CR
 9/4/2009   15:52     AUD/USD         DDL           S   10,000   DB    0.8465     8,465     DB   9/8/2009   19:00   302245708     0.00   CR              0.00    CR
 9/4/2009   17:19     AUD/USD         DDL           S   10,000   DB    0.8517     8,517     DB   9/8/2009   19:00   302259594     0.00   CR              0.00    CR
 9/4/2009   17:23     AUD/USD         DDL           S   10,000   DB    0.8532     8,532     DB   9/8/2009   19:00   302260102     0.00   CR              0.00    CR

 9/4/2009 20:50       AUD/USD          RCL         B    50,000 CR      0.8515 42,575.00 CR 9/8/2009 19:00 302286178               0.00 CR             134.00 DB

 9/4/2009 20:50       AUD/USD         ROP           S   50,000 DB 0.85138 42,569.40 DB 9/9/2009 19:00 302286180                   0.00 CR                0.00 CR

The five sell contracts entered into at various prices are “roll closed” at .8515 and “roll opened” at .85138. Note the difference between the two prices
(.000123) that is the net interest charge for the short AUD position and the long USD position. The five sell contracts are now identically priced at the
new roll open price of .85138. They are no longer separate and distinct positions.
Any future Offsetting Order (a buy in the above example) is deducted from the aggregate position of five sell contracts and not identified with any specific
sell contract.
The current Net Based system also has delayed settlements of two days after a position is closed in most crosses. This leads to “unrealized p/l” and “in
conversion p/l” prior to the final settlement of p/l at which time it becomes “settled p/l.”b.




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     b. Position Based FX
Position based FX trading operates differently from the net based system. The primary difference is the uniqueness of each trade versus the
“aggregation” of trades in a net based system.

For example, a customer enters into the following initial trade:




The customer then enters into a second trade in the same currency pair. The position based system will show each trade separately and indefinitely,
until a closing trade is made.




When trades are closed the system will always process these as FIFO (First In First Out). That means that the system will close out the position(s) that
have been open the longest.
In position based FX, the system will not allow accounts to have both a long and a short position open at the same time in the same instrument (same as
net based system). They will cancel each other out. If a customer wishes to trade this way a separate account would be required.

Position based accounts will settle immediately and never have Unrealized P/L. There is no 2 day delay between closing position and settlement, like in
the Net Based system. If necessary, a conversion rate will be assigned based upon the most recent conversion rate updated in system and the P/L will
settle into cash.

An example




Financing Example:




 20. WORKED EXAMPLES FOREX CONTRACTS AND FOREX OPTIONS
The examples below are for illustrative purposes only. The rates and figures quoted are hypothetical and do not represent actual rates or figures.

Example 1: Spot Contract
You need to make a payment of USD100,000 to an overseas entity in 2 business days. To make this payment you need to sell AUD and buy USD.

GFT quotes you a spot Exchange Rate of AUD/USD0.6000. You enter into a Spot Contract to purchase USD100,000 and sell AUD at the quoted
Exchange Rate of AUD/USD0.6000.

On the Settlement Date you are required to pay: AUD166,666.67
        (USD100,000 ÷ AUD/USD0.6000)

Assuming the Initial Margin Requirement is 2%, you are required to hold 2% of the value of the open contract in your Account before GFT through its
trading software, DealBook, will accept the Order. In this case the value of the contract when it is opened is AUD166,667 (USD100,000). You would be
required to have AUD3,332 (representing approximately 2% of AUD166,666.67) in equity in your Account in order to enter this transaction. If you do not
have the Initial Margin Requirement the Order will not be accepted by GFT through its trading software, DealBook.
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The position will remain open until:
              a. you instruct us to Close Out the position;
              b. your Account becomes Margin deficient and GFT exercises its discretion to Close Out the Open Position; or
              c. the equity in your Account falls to or below 25% of the Margin Requirement and your Open Positions are automatically Closed Out. In
                    this example, the Open Position would be automatically Closed Out if the equity in the Account is less than AUD833.00 (being 25% of
                    AUD3,332).

Had you not entered into a Spot Contract, the amount of AUD you would have needed to pay in 2 business days would have depended on the
Exchange Rate quoted for that day.

If the AUD had increased in value (the USD decreasing in value) you would have needed to pay less AUD. For example if the AUD had risen to
AUD/USD0.6100 you would have needed to pay:
         AUD163,934.43 (USD100,000 = AUD/USD0.6100)

If the AUD had decreased in value (the USD increasing in value) you would have needed to pay more AUD. For example if the AUD had fallen to
AUD/USD0.5900 you would have needed to pay:
         AUD169,491.53 (USD100,000 = AUD/USD0.5900)

Once a position is closed or delivery is taken no further Margin is required.

By entering into a Spot Contract you have ensured certainty of the future cash flow.

Example 2: Leveraged Spot Contract
Customer feels that AUD will appreciate against the USD. Customer will attempt to benefit from this by buying AUD/USD.

GFT’s quote on the AUD/USD is 0.5900-0.5905. Customer purchases AUD100,000 AUD USD at a rate of 0.5905.

Assuming the Initial Margin Requirement is 2%, you are required to hold 2% of the value of the open contract in your Account before GFT, through its trading
software, DealBook will accept the order. In this case the value of the contract is AUD100,000 (USD59,050). You would be required to have AUD2,000
(AUD100,000 x 2%) equity in your Account in Order to enter into this transaction. If you do not have the Initial Margin Requirement the order will not be
accepted by GFT, through its trading software, DealBook.
The position will remain open until:
              a. you instruct us to Close Out the position;
              b. your Account becomes Margin deficient and GFT exercises its discretion to Close Out the position; or
              c. the equity in your Account falls to or below 25% of the Margin Requirement and your Open Positions are automatically Closed Out. In
                     this example, the Open Position would be automatically Closed Out if the Account equity were less than AUD500.

Once a position is Closed Out or delivery is taken no further Margin is required.

Example 3: Forward Contract
You need to make a payment of USD100,000 to an overseas entity in 20 business days. To make this payment you need to sell AUD and buy USD. The
current AUD/USD Exchange Rate is 1.0661.

GFT quotes you a forward Exchange Rate of AUD/USD 1.0650. You enter into a forward Forex Contract to purchase USD100,000 and sell AUD at the
quoted Exchange Rate of AUD/USD 1.0650.

On the Settlement Date you are required to pay:

AUD 93,896.71 (USD100,000 = AUD/USD 1.0650)

Assuming the Initial Margin Requirement is 2% you are required to hold 2% of the value of the open contract in your Account before GFT, through its trading
software DealBook will accept the Order. In this case the value of the contract is AUD93,896.71 (100,000USD). You would be required to have AUD
1,878(AUD93,896 x 2%) equity in your Account in order to enter this transaction. If you do not have the Initial Margin Requirement the Order will not be
accepted by GFT, through its trading software, DealBook.
The position will remain open until:
              a. you instruct us to Close Out the position;
              b. your Account becomes Margin deficient and GFT exercises its discretion to Close Out the position; or
              c. the equity in your Account falls to or below 25% of the Margin Requirement and your Open Positions are automatically Closed Out. In
                     this example, the Open Position would be automatically Closed Out if the Account equity were less than AUD469.50.

Had you not entered into a forward Forex Contract, the amount of AUD you would have needed to pay in 20 business days would have depended on the
Exchange Rate quoted for that day.

If the AUD had increased in value (the USD decreasing in value) you would have needed to pay less AUD. For example if the AUD had risen to
AUD/USD 1.0900 you would have needed to pay:

         AUD 91,743.12( USD1 00,000 = AUD/USD 1.0900)

If the AUD had decreased in value (the USD increasing in value) you would have needed to pay more AUD. For example if the AUD had fallen to
AUD/USD 1.0300 you would have needed to pay:

         AUD97,087.38 (USD1 00,000 = AUD/USD 1.0300)

Once a position is closed or delivery is taken no further Margin is required.
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By entering into a forward Forex Contract you have ensured certainty of the future cash flow.

Example 4: Forex Option
You need to make a payment of USD100,000 to an overseas entity in 1 month. To make this payment you need to sell AUD and buy USD. The current
AUD/USD Exchange Rate is 1.0661

You decide to buy a put Option from GFT with an agreed strike price of 1.0600. You have the right (but not the obligation) to convert your AUD into USD at
the strike price on the expiration date in 1 month. The Option Premium cost is AUD 3,000.

If the AUD increases (the USD decreasing) to 1.0800 the put Option would be out of the money and you would allow your put Option to lapse and would sell
AUD and buy USD in the Foreign Exchange Market at the quoted Exchange Rate for that day:

         AUD92,592.59 (USD100,000 = AUD/USD 1.0800)

You have also paid a Premium of AUD3.000 for the put Option so your total cost of the trade would be:

         AUD95,592.59 (AUD92,592.59 + AUD3,000)
If the AUD decreases in value (the USD increasing in value) to 1.0400, the put Option is in the money and you would exercise the put option and pay:

         AUD94,339.62 (USD100,000 = AUD/USD 1.0600)

You have also paid a Premium of AUD3,000 for the put Option so your total cost of the trade would be:

         AUD97,339.62 (AUD94,339.62+ AUD3,000)

Had you not entered into a put Option, the amount of AUD you would have needed to pay in 1 month’s time would have depended upon the Exchange Rate
quoted for that day.

If the AUD had increased in value (the USD decreasing in value) to 1.0800 the put Option would be out of the money and you would have needed to
pay:

         AUD92,592.59 (USD100,000 = AUD/USD 1.0800)

If the AUD had decreased in value (the USD increasing in value) to AUD/USD 1.0400 the put Option would be out of the money and you would have
needed to pay:

         AUD96,153.85 (USD1 00,000 = AUD/USD 1.0400).

By entering into a Forex put Option you have ensured certainty of the future cash flow.

 21. CONTRACTS FOR DIFFERENCE (CFDs): THE BASICS
A contract for differences (CFD) is a contract with GFT to exchange the difference between the opening and closing values of a trading instrument,
multiplied by the number of CFDs in the contract. CFDs can be contracts with a share, Stock Index, bond, interest rate, Commodity or Foreign Currency as
the underlying market.

GFT generally bases the prices of the CFDs you trade with us on the prices of the Underlying Assets to which the CFDs relate. Our prices are generally
based on the Underlying mid-market price and we apply a Spread having regard to factors such as the depth and liquidity in the market for the Underlying
Asset.

Contracts for Difference (CFDs) are Derivative products which allow you to make a profit or loss from fluctuations in the price of an Underlying Security or
trading instrument, without actually owning the Security or instrument. To trade CFDs you have to enter into a contract with GFT to exchange the difference
between the opening value and closing value of the CFD, which is referenced to an Underlying Security or trading instrument, such as a Stock Index, bonds,
interest rates or foreign exchange. CFD allow you to speculate on the rise or fall of stock indices, commodities, bonds, interest rates and foreign
exchange and accordingly exposes you to fluctuations in the Underlying Security or trading instrument.
CFDs are traded on margin which allows you to receive the commercial benefits of trading in the Underlying Security or trading instrument while avoiding
many of the costs of purchasing the Underlying Security or trading instrument. The counterparties to a CFD aim to close their respective position at a more
advantageous price respectively than when they opened their position. The potential gain (or loss) from CFDs is the net position of your opening position
less your closing position (after taking into account notional dividend payments, commissions, interest and other payments).

How do CFDs work?
When you enter into a CFD contract with GFT, the amount of profit or loss made on the CFD will dependent upon, amongst other things such as
commissions, interest payments and dividends, the difference between the price of the Underlying Security or trading instrument when the CFD is opened
(entered into) and the price of the Underlying Security or trading instrument when the CFD is closed. Accordingly, as the price of the Underlying Security or
trading instrument increases, the derived price of the corresponding CFD will also increase to reflect the movement of the Underlying. Similarly a fall in the
price of the Underlying Security or trading instrument will have a negative effect on the price of a CFD.

Open and close, long and short
You will open a CFD position by either buying or selling a CFD with GFT.

You will open by buying a CFD from GFT if you expect the Underlying Security or trading instrument to rise, the position you have is known as a "long" CFD
position. You will sell a CFD to GFT if you expect the Underlying Security or trading instrument to fall and the position you have is known as a "short" CFD
position.
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To Close Out a "long" CFD position, you sell the CFDs. To Close Out a "short" CFD position, you buy a CFD.

Depending on the type of Underlying Security or trading instrument, a CFD can remain open indefinitely (subject to the investor meeting all their obligations
under the GFT Account Agreement). A CFD derived from a perpetually quoted Underlying such as a security or market index will remain open until the
parties realise (that is, Close Out) their positions.

However, a CFD derived from an Underlying Security or trading instrument which itself has an expiry date (such as a CFD derived from Futures Markets)
will expire at the same time as the Underlying.

A CFD in Spot Markets may be subject to different charges which are explained in the Market Information Sheet.

GFT offers a CFD where the Underlying Security or trading instrument is equity, an index, a Currency, a Commodity, metal, a government bond or
an interest rate. For further information on fees and charges in respect of the different types of underlying CFD based on a Spot Markets. Please refer to
the Market Information Sheet. Set out below is a brief description of each type of Underlying Security or trading instrument the subject of a CFD:

         Equity CFD
         An Equity CFD derives its price from the fluctuations in the price of either a single Security or a basket of Securities. Securities are continuously
         quoted during market hours for that Security. Therefore, subject to the investor's obligations to GFT being met equity CFD will remain open
         indefinitely. The position will be closed when the parties settle the difference between the purchase price and the sale price.

         When you hold an Equity CFD you are entitled to commercial benefits such as adjustments in the CFD price to reflect payment of dividends but will
         not have the other benefits of ownership such as voting rights or franking credits attached to a dividend. However, your Account may still be
         credited/ debited with an amount equivalent to a franking credit (see the section on 'Dividend adjustments' in the PDS).

         Index CFD
         An index CFD derives its price from fluctuations in the Underlying index. An index CFD is substantially the same as holding an Equity CFD except
         that the index CFD exposes the investor to an index which reflects a basket of securities.

         Currency CFD
         A Currency CFD derives its price from either the Spot Price of a Currency Pair. A Currency CFD is cash-settled meaning that while you will have
         Exposure to the underlying Exchange Rate your CFD does not result in delivery of the Underlying Currency. There may be different fees and
         charges applicable to a CFD based on a Currency spot or future underlying price. For valuation purposes all open Currency positions are
         converted to USD equivalents on a marked-to-market basis. If the Base Currency of an account is AUD, the market to market value of the
         account will be displayed in AUD.

         Commodity CFD
         A Commodity CFD exposes you to price fluctuations of Commodity prices. Prices on Commodity markets are usually quoted as a Spot Price
         contract price. There may be different fees and charges applicable to a CFD based on a spot or future Commodity underlying price. Please
         refer to the Market Information Sheet for further details.

         Metal CFD
         A metal CFD derives its price from the price of the underlying market in metals. The holder of a metal CFD is exposed to the fluctuations of metal
         prices. Like a Commodity CFD metal prices are usually quoted in either Spot Prices. There may be different fees and charges applicable to a
         CFD based on a spot or future metal underlying price.

         Interest Rate and Government Bonds CFD
         An interest rate CFD allows the investor to obtain a notional Exposure to the underlying market in interest rates. Similarly a CFD in respect of
         Government Bonds will expose the holder to fluctuations in the Government Bond markets. Please refer to the Market Information Sheets for
         more details.

Instructions

Once you have opened an Account, you may give GFT instructions to purchase or sell a CFD based on the prices quoted by GFT on DealBook or by the
dealing personnel (if you provide instructions by telephone). For each market, GFT quotes two prices:
•    a buy (ask or Offer ) price, this is the higher price; and
•    a sell (or bid) price, this is the lower price.

The difference between those two prices on any given market is called the Spread. You can then set bid or Offer prices.

GFT acts as a principal in the trade (that is the counterparty to your transaction) and either buys or sells the CFD position sought by you. In this capacity, GFT
assumes the risk of the trade in its entirety. The Settlement Risk for you is the risk that GFT will for any reason be unable to complete performance of
the CFD trade (sometimes called "counterparty risk").
Profit will be made on a transaction when a CFD is sold an amount higher than the amount for which it was purchased. For you to recognize a gain from a
profitable transaction, the profits from the transaction must exceed the costs of fees and other charges payable by you for the execution of the trade.
Loss will be incurred on a transaction where a CFD is sold for an amount less than the amount for which it was purchased. You must maintain sufficient
Margin in your Account.
All amounts payable by you to GFT will be deducted (debited) from your Account Balance and all amounts owing will be deposited (credited) to your Account
Balance. Where GFT has a right of set off, GFT may deduct from any of the Accounts you hold with us, any amount payable by you to us.
You cannot simultaneously hold a buy and a sell CFD with GFT in the same market or the same underlying for the same expiry date. Under GFT's trading
protocols, if you were to attempt to do this, whichever trade you place first will (usually) be closed in whole or in part by the subsequent trade you place
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(in the same market for the same expiry date) and that subsequent trade may create a new Open Position.
Dividend adjustments
If you hold an open Long Position in a CFD in respect to a share which pays a dividend you will be entitled to an amount equal to the share's dividend payment
(based on the number of CFD you hold) if you hold the long CFD after the close of the business day before the share is to go ex-dividend.
Conversely, if you hold an open Short Position in a CFD in respect of a share which pays a dividend, your Account will be debited (reduced) for the amount of
the dividend payment if you hold the short CFD after the close of business day before the share is to go ex-dividend.
In summary, dividend adjustments are credited to your Account for long CFD positions and debited from your Account for short CFD positions held after the
close of business day before the share is to go ex-dividend, net of the tax requirements of the relevant tax authority, as determined by GFT acting
reasonably. The table below sets out GFT's dividend adjustments for CFDs:

 Shares                                                                 Dividend adjustments
 CFD based on Australian shares                                         Buy trades are credited with 85% of the equivalent amount of the gross
                                                                        dividend
                                                                        Sell trades are debited with 100% of the equivalent amount of the
                                                                        gross dividend
 CFD based on UK shares                                                 Buy trades are credited with 90% of the equivalent amount of the gross
                                                                        dividend
                                                                        Sell trades are debited 100% of the equivalent amount of the gross
                                                                        dividend
 CFD based on US shares                                                 Buy trades are credited with 85% of the equivalent amount of the gross
                                                                        dividend
                                                                        Sell trades are debited with 85% of the equivalent amount of the gross
                                                                        dividend
 CFD based on Euro and other shares                                     Buy trades – amounts vary from country to country
                                                                        Sell trades are debited with 100% of the equivalent amount of the
                                                                        gross dividend

 22. WORKED EXAMPLES FOR CFDs
The examples below are for illustrative purposes only. The rates and figures quoted are hypothetical and do not represent actual rates or figures.
Profits and losses on CFDs are calculated by multiplying the size of the trade at closing by the difference between the Closing Price and Opening Price of the
relevant trade less any amount payable to GFT in relation to the trade such as a commission or daily financing change. In particular, you should note that
the LIBOR rate used in these examples is hypothetical - as explained in Section 7, Part 3, the actual interest rate (e.g. LIBOR) may vary from time to time,
but it will never be adjusted below a zero rate.

Example 1: Equity CFD
Shares in XYZ Pty Ltd on the Australian Exchange is trading 4.530 – 4.550.
The GFT quote for XYZ is also 4.530 – 4.550.

Note: the GFT quote on an individual equity will be dependent upon the liquidity of the Underlying. Larger trades may require us to widen the Spread.

XYZ is announcing its 2nd quarter results tomorrow. In the belief the results will be better than expected, you BUY 2,500 CFDs. This means that for every
cent the Underlying share rises, you make AUD25, and for every cent it drops you lose AUD25. (This is equivalent in size to buying 2,500 shares in the
underlying market itself.)

For this example the commission is 10 Basis Points. A commission of 10 Basis Points (CFDs x trade price x 0.10%) is debited from your account, i.e. (2500
x 4.55x 0.10%) = 11.37 AUD.

Note: GFT’s individual equity markets are subject to a commission rate of 10 basis points. All other markets are commission-free, i. e. our charges are included in the
Spread.

As you hold the position overnight, a finance adjustment is made to your account. This is calculated as follows: f = (s x p x r) / d where: f = daily financing
charge
          s = number of CFDs (2,500)
          p = Closing Price as determined by GFT (AUD4.56 – usually this will be the price on close of the underlying share)
          r = relevant overnight LIBOR rate, PLUS 300 Basis Points for Long Positions, or MINUS 300 Basis Points for Short Positions, e.g. (5.75% +
          3.00%) = 8.75%
          d = number of days, i.e. 365 for UK shares and 360 for all others

            Long (buy) trade positions are debited the daily financing charge. Short (sell) trade positions are credited the daily financing charge.

So, the finance adjustment will be a debit to your account, equal to: (2,500 x AUD 4.56 x 8.75%) / 360 = AUD2.77 Note: All rollovers and associated finance
adjustments are carried out at 10pm London time (8:00 am AEST)

At 9am the next morning, XYZ results are indeed above forecast. By 10:30am the share is trading at 4.760 – 4.770. You decide to take your profit and SELL
2,500 XYZ CFDs at 4.760, thus closing your trade.

Again, the closing trade is subject to a commission charge of 10 basis points, or (2500 x 4.76 x 0.10% = 11.9 AUD. You realise a profit of (AUD 4.76 – AUD
4.55) x your stake of 2,500 CFDs = AUD 525.

After taking into account the financing charge and commission, you have made a net profit of (525 – 11.37- 11.9 - 2.77) = AUD 498.96

Reminder: When you trade CFDs you are always trading the in “base ” Currency of the underlying market. E.g. if you trade a UK share you are trading in pennies.

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Example 2: Stock Index CFD
The S&P/ASX 200 index is trading around 4900. After a strong Rally of 200 points over the last month you believe the market may be due a fall, and see that
the GFT current quote for S&P/ASX 200 cash is 4900 - 4904.

You SELL 10 CFDs at 4900. For every point that our quote on the S&P/ASX 200 index falls you will profit 10 AUD, yet for every point the index rises you will
lose 10 AUD.

Two days later you see that our quote on the S&P/ASX 200 has actually risen to 4940 - 4944. Deciding to cut your losses you close your trade and BUY
AUD10 at 4944.

This trade resulted in a loss of (4900 - 4944) x your stake of 10 CFDs = AUD440.
You will have incurred 2 days’ financing charges for this rolling trade. The amount is calculated as follows: f = (s x p x r) / d where:
          f = daily financing charge s = your stake (10 CFDs)
          p = Closing Price as determined by GFT (e.g. Day 1: 4912.0 and Day 2: 4935.0)
          r = relevant LIBOR rate, PLUS 300 Basis Points for Long Positions, or MINUS 300 Basis Points for Short Positions (here this is (5.75% -
          3.00%) = 2.75%)
          d = number of days, i.e. 365 for UK shares and 360 for all others

         Long (buy) rolling trade positions are debited the daily financing charge. Short(sell) rolling trade positions are credited the daily financing charge.

So, the finance adjustment will be a credit to your account, equal to: Day One (10 x 4912.0 x 2.75%) / 360 = AUD3.75 Day Two (10 x 4935.0 x 2.75%) /
360 = AUD3.77.

         i.e. Total financing adjustment = AUD7.52

Dividends: if you have an open trade in an index in which constituent companies are due to go ex-dividend, your account will be adjusted to reflect this. The
number of index points by which the index will open lower on the day of the ex-dividend(s) is dependent on the weighting of the companies concerned.
Buy trades are credited with the value of the aggregate index point effect times your stake.
Sell trades are debited the value of the aggregate index point effect times your stake.

Example 3: Metal CFD
It is June and the price of gold has been soaring recently as speculators, market participants who try to profit from buying and selling futures contracts by
anticipating future price movements, push the price higher and higher. You decide the Rally still has further to go and check the GFT trading platform for Gold
quotes. Our Gold quote is based on the underlying futures contract, and in this case our quote for Gold – September is 680.0 – 680.7.

You BUY 20 CFDs at 680.7, and here you should note that you are trading “per 0.1 ”, i.e. if Gold moves from 680.0 to 681.0, that is 10 “Ticks”, or equivalent
to a USD200 move on a trade of 20 CFDs. Note that the base Currency of the underlying Gold futures market is USD, so this is what you will be trading in.

Reminder: “Trading Per” values are shown on Order tickets for easy reference.

This trade, if left, would expire (i.e. close automatically) on August 18th. (Hint: for details of all market expiry dates, please see our Market Information Sheet
below.) However, by the beginning of July the price has already risen through the USD700 level, and our quote is 702.5 – 703.2.

You decide to close part of your position and SELL 10 CFDs at 702.5. This realises a profit of (7025 – 6807) x your stake of 10 = USD2180.
You leave the remaining 10 CFD trade to run until expiry of the market in August. Unfortunately by then the profit-takers have stepped in and the market
expires at 675.5.

On this remaining 10 CFD trade you have realised a loss of (6807 – 6755) x 10 = USD520. Overall, the 20 CFD trade results in a profit of USD (2180 – 520)
= USD1660.

Example 4: Foreign exchange CFD
On the eve of a Reserve Bank of Australia (RBA) rates meeting, the (AUD/USD) spot rate is trading around 0.7385. GFT’s quote for the AUD/USD CFD at
the time is
0.7382 – 0.7386.

You believe the RBA may well make a surprise hike in Australian rates and BUY 200,000 CFDs at 0.7386, expecting the AUD to strengthen relative to the
USD. This is equivalent to buying AUD 200,000.

Finance adjustments are made to trades held overnight (i.e. after 10pm London time) on rolling markets. For trades on currencies, this is calculated as
follows: f = (s x p x r) / d where:
           f = daily financing charge
           s = the number of CFDs you hold in the 2nd Currency
           p = roll-over price (the GFT mid-price at 22:00 UK time that day, say 0.7400)
           r = differential of relevant overnight LIBOR rate of 1st named Currency and that of 2nd named Currency, here these are 5.75% and 5.05% =
           0.70% differential
           d = number of days, i.e.360

If the first Currency has a higher interest rate, then you are credited interest for running a Long Position and debited interest for running a Short Position.
If the first Currency has a lower interest rate, then you are debited interest for running a Long Position and credited interest for running a Short Position.
Here the adjustment would have been equal to (200,000 x 0.7400 x -0.7%) / 360 = -AUD2.87.
At 10:45am the next morning the RBA's decision is announced and rates are maintained at their current level and the AUD drops. Deciding to close your
trade, you see that the current quote is 0.7320 – 0.7324 and SELL 200,000 CFDs at 0.7320.
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Loss on this trade is calculated as:
         Opening trade: AUD200,000 x 0.7386 = AUD147,720
         Closing trade: AUD200,000 x 0.7320 = AUD146,400

And so loss on the trade = AUD1320 (plus the financing adjustment of AUD2.87 = AUD1322.87).
Reminder: a quick way to work out potential profit is to think of the value of one ‘Pip’ a quick way to calculate this is by multiplying the ‘Tick factor’ and the
number of CFDs e.g. 0. 0001 x 100, 000 = 10 so for every 1 Pip move you will lose or gain 10.

Example 5: Government Bond CFD
Ahead of a busy week on the UK economic data calendar, you decide that the data will be hawkish for UK interest rates, and that the price of the
benchmark UK government bond – the “Long Gilt” – should fall as a result.

The GFT quote for UK Gilt – September 06 is 110.45 – 110.48 and you SELL 100 CFDs at 110.45.

By Friday it appears that the data has in fact been relatively in-line with market expectations. After trading in a tight range all week, Gilt futures have now
started to Rally.

The current GFT quote is now 110.63 – 110.66. You decide it is time to cut your losses and BUY 100 CFDs at 110.66, resulting in a loss of (11045 –
11066) times your stake of 100 = a loss of AUD2100.


 23. GLOSSARY OF TERMS
This Glossary contains terms used in this PDS. All terms capitalised or defined terms have the meaning given in the Glossary or otherwise as defined in the
GFT Account Agreement.

ABA routing numbers: Pre-printed along the left side at the bottom of all cheques, the American Bankers Association routing number is the number
designated to each financial institution. The number uses the federal reserve system which is the central banking system in the United States, to route
cheques and electronic transactions initiated by the client. The first sequence of numbers indicates the Federal Reserve Routing Region, the next four
numbers indicate the institution identifier, and the last sequence of numbers indicates the cheque account number issued by your financial institution.

AEST: Australian Eastern Standard Time.

Account: Your trading account with GFT.

Account Balance: At any given time, the Base Currency amount of funds in the Account after all credits and debits have been made.

AFSL: Australian financial services licence.
Arbitrage: The simultaneous buying and selling of similar commodities in different markets to take benefit from a price discrepancy.

ASIC: Australian Securities and Investments Commission, the Australian government regulatory agency empowered to administer and enforce the
Corporation Act 2001 as it applies to the financial services industry.

ATO: Australian Taxation Office.

AUD: Australian dollar.

Base Currency: The Currency which the customer has directed or agreed with GFT to be the Currency into which transaction shall be
converted at the close of each position.

Basis Point: 0.01%. So for example, 15 basis points is 0.15%.
Bid: An expression indicating a desire to buy a commodity at a given price; opposite of offer.

Bracket Order: A pair of OCO Orders, Profit Target and Stop Loss, is placed and once one of the pair is filled, the other is cancelled automatically. In the
case of a partial fill of one of the Orders, the number of contracts for the reciprocal Order is reduced accordingly. Profit Target and Stop Loss are defined
in points/pips.

Broker: A company or individual that carries out trading Orders on behalf of financial and commercial institutions and/or the general public. A
commission is paid by the initiator of the transaction. Brokers do not take market positions.

Business Day: Any day on which GFT, US banks, and banks in the country of a relevant foreign country are open. However, closure of foreign banks on any
given day shall not affect obligation to make payments of USD if the US banks are open for business on such day.

CAD: Currency of Canada.

Capital: The amount a person invests in a particular investment.

CEA: Commodity Exchange Act which is the exclusive national US law governing trading in Commodity futures and other related investment vehicles, but
not Foreign Currency or Options transactions unless executed on a contract market as that term is defined in the CEA.

CFD: Contract for Difference, that is, an over the counter Derivative contact for which the value of that contract at any given time is derived from the
difference between the price of the underlying at the time of opening of the contract and the price of the underlying at the given time.

CFTC: Commodity Futures Trading Commission, a US Federal agency charged with oversight and enforcement of the CEA.
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Chart Line Order: This Order type allows the users to set Orders based on a line drawn on a chart maintained by GFT, such as a
trend line or a Fibonacci retracement. The Order may be a market or Limit Order that may be executed at or within 10 pips of
the selected line.

Clearing house: A third-party agency or separate corporation of a futures exchange that is responsible for settling trading accounts, clearing trades,
collecting and maintaining Margin monies, regulating delivery and reporting trading information.

Close Out: Closing out reverses the effect of an Open Position by taking the opposite, bought or sold position (to cancel the existing bought (or sold)
Open Position).

Closing Price: See Settlement Price.

Commodity: Products traded on an authorized commodity exchange that can be used for commerce, including agricultural products, metals, petroleum,
foreign currencies and Financial Instruments and indexes, to name a few.

Commodity Futures Trading Commission (CFTC) : A federal regulatory agency established under the Commodity Futures Trading Commission Act, as
amended in 1974, that oversees futures trading in the United States.

Contingent Order: an instruction to place a Limit Order or a Stop Order to open a new position, while at the same time, a second order is placed and is
only effective is the parent Order is executed.

Contract Month: A specific month in which delivery may take place under the terms of a futures contract.

Credit Risk: Risk of loss that may arise on outstanding contracts should a counter party default on its obligations.

Currency: A country’s unit of exchange issued by its government or Central Bank, the value of which is the basis for trade.

Currency Pair: The two (2) currencies employed in a two (2) Currency transaction wherein each party to the trade agrees to deliver a specific quantity of a
particular Currency to the opposing party in return for a specific quantity of another Currency.

DealBook: GFT's on-line trading platform for trading Forex and CFDs.

Dealer: One who, as opposed to a Broker, acts as a principle in all transactions, buying and selling for its own account.

Dealer Spread: the difference between the prices at which GFT, as market maker is willing to buy and sell a given Currency Pair.

Delivery Notice: A notice provided to GFT via DealBook notifying GFT that a particular Foreign Exchange Contract or Forex Option is or has been executed
for actual delivery. A Delivery Notice will include information about the Currency Pair, the amount of the Foreign Exchange Contract or Forex Option and
the Value Date.

Derivative: A Financial Instrument, traded on or off an exchange, the price of which is dependent upon the value an Underlying Security, Commodity,
other Derivative instrument, or any agreed-upon pricing index or arrangement.

Euro or EUR: European Currency.

Exchange Rate: Number of units of one Currency needed to pay for the purchase received from the sale of one unit of another Currency. The price of one
Currency in terms of another.

Exposure: In foreign exchange, a potential for gain or loss because of movement in foreign Exchange Rates.

FCM: Futures Commission Merchant, an individual or organisation in the US which solicits or accepts Orders to buy or sell futures contracts or Options
on futures and accepts money or other assets from customers to support such Orders. An FCM is registered with the CFTC.

Fee Schedule: The schedule of fees which may apply to an Account is set out at the end of this document. GFT may change fees and costs subject to
providing existing clients with 30 days’ prior notice of any increase in fees and costs. Accordingly, The Fee Schedule is updated from time to time, and the
current version of the fee schedule is available at http://documents.gftforex.com/Fee_Schedule_AUD_AUS_FX.pdf. When fees are increased, a notice
regarding the increase will be posted on www.gft.com.au 30 days’ prior to the increase taking effect.

Financial Instrument: There are two basic types: (1) a debt instrument, which is a loan with an agreement to pay back funds with interest; (2) an equity
Security, which is a share or stock in a company.

Floating P&L: The total of all Open Positions on your Account, Marked to Market.

Foreign Exchange Market: An Over-the-Counter Market where buyers and sellers conduct foreign exchange business by telephone and other means of
communication. Also referred to as foreign market.

Foreign Currency: The Currency of any country other than the United States. Often referred to by the handle or appellation, as "Forex," when added to an
adverb such as "transaction," as in Forex transaction.

Foreign Exchange Contracts or Forex Contracts: Derivative contracts based on Foreign Currency.

Forex: An abbreviation for the words foreign Exchange Rate or Foreign Currency.

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Forex Option: A contract that gives the Option buyer the right but not the obligation to buy (call Option) or sell (put Option) a predetermined amount of a
particular Currency against another Currency at a predetermined price or rate.

GBP: Great Britain Pounds.

GFT: Global Futures & Forex, Ltd.

GFT Account Agreement(s): The agreement(s) containing the terms and conditions of binding any client of GFT in relation to trading with GFT. Government
Bonds: Bonds (a fixed interest type of investment) issued by governments in different countries.

Government Bonds: Bonds (a fixed interest type of investment) issued by governments in different countries.

Guaranteed Stop Loss Order : An instruction to limit your losses, both during and outside market hours, to the amount specified.

If Then Order: An Order which is contingent upon a working Order being filled and which must be accepted before being attached to a working Order.
These Orders can be If Then Limit or If Then Market Orders.

IM Factor: The percentage or multiplier specified by GFT (in its absolute discretion) as disclosed in the Market Information Sheet which determines how
much Initial Margin GFT requires you to deposit into your Account before a CFD Order or trade is executed by GFT.

Initial Margin: The amount of equity that is required to trade. By multiplying your proposed trade position by the IM Factor, you can calculate the amount
of the Initial Margin that is required before you can place a trade with GFT.

Invitation: An expression of a person’s willingness to sell a Commodity at a given price; the opposite of Bid.

Joint Holder: Each of the signatories to or persons identified in an application form for an Account.

JPY: Japanese Yen.

Leverage: The ability to control large dollar amounts of a Commodity with a comparatively small amount of Capital.

LIBOR: London Inter-Bank Offer Rate being the interest rate that banks charge each other for loans.

Limit Order: An Order in which the customer sets a limit on the price and/or time of execution.

Liquidate: Selling (or purchasing) futures contracts of the same delivery month purchased (or sold) during an earlier transaction or making (or taking) delivery
of the cash Commodity represented by the futures contract. See Offset.

Long Position: An excess of purchases over sales of the relevant Commodity, Currency or investment instrument, (that is, opposite of a Short Position).

Lot: A predefined unit of the Base Currency (base current is the second of a trading pair, i.e. for a GBP/EUR pair, the Base Currency would be EUR,
Euros). Lot size can vary based on the type of account or by request of the client.

Low: The lowest price of the day for a particular futures contract.

Margin: the total of all Initial Margin in respect of all Open Positions on your Account.

Margin Call: A claim by your Broker or Dealer for additional good faith performance monies usually issued when your Account suffers adverse price
movements.

Margin Requirement: the total of all Initial Margin in respect of all Open Positions on your Account.

Marked to Market: the value of an Open Position calculated at the current GFT Price.

Market Information Sheet: The sheets which are annexed as Annexure A and Annexure B and forms part of this PDS. The Market Information Sheet is
updated from time to time, and the current version of the Market Information Sheet is available on http://www.gft.com.au//Range-of-Markets/CFD-
Pricing/Default.aspx

Market on Close /Time Orders: Market on Close Orders are specified to be executed only at the time of market close on a specified market. Time
Orders allow the user to create Orders that will only execute between user-specified time frames.

Market Order: An Order to buy or sell a futures contract of a given delivery month to be filled at the currently available price.

Net Based system: GFT offers two different trading systems; Net-based and Position Based.
The Net Based system is characterized by, but not limited to, the following:
•        Positions are carried at the average price of all identical          •        2 business day period for profit and loss conversion and
         positions.                                                                    settlement.
•        Open Positions at 3:00 pm EST (6:00 am AEST) are subject             •        Delivery available.
         to the rollover process.


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NFA: National Futures Association, a futures industry self-regulatory organisation in the US under section 17 of the CEA and which is subject to CFTC
regulatory oversight.

Offer: An expression of a person’s willingness to sell a Commodity at a given price; the opposite of Bid.

Offset: To take a second futures position opposite to the initial or opening position, effectively closing the original position.

Open Position: A position created to your Account when you enter into a CFD.

Opening Price or Range: A price or range of prices at which buy and sell transactions took place during the period designated by an exchange as the
official opening.

Option: A contract that conveys the right, but not the obligation, to buy or sell a particular item at a certain price for a limited time. Only the seller of the
Option is obligated to perform.

Order Cancels Order (OCO): Two separate stop or Limit Orders that are linked together and placed as one Order. When one of the linked Orders is
executed, the other Order is automatically cancelled by the system.

Orders: Any of a Stop Order, Limit Order, OCO Order, Contingent Order, Trailing Stop Order, Guaranteed Stop-Loss Order, If Then Order, Chart Line
Order, Market Close/Time Order, Pair Trade Order, Straddle Order, or Bracket Order.

Over-the-Counter (OTC) Market: A market where products including stocks, currencies and other cash items are bought and sold.

Pair Trade Order: The user can set an instruction by setting the difference between two symbols, and when the condition is met based upon the
selected difference between the two symbols, an Order is placed.

PDS: Product Disclosure Statement.

Pip: The minimum unit of difference between a Bid and Offer permissible under trading rules for any particular financial product.

Position Based system: GFT offers two different trading systems; Net-based and Position Based.
The Position Based system is characterized by, but not limited to, the following:
•    Positions are carried at their entry price. Transactions that reduce an Open Position are matched under FIFO.
•    Open Positions at 3pm Eastern Time in the United States are subject to financing charges.
•    Immediate settlement and conversion of profits and losses.
•    Delivery not available.

Premium: (1) the amount a price would be increased to purchase a better quality Commodity; (2) a future delivery month selling at a higher price than
another; or (3) cash prices that are above the futures price.

Rally: An upward price movement.

Reference Rate – the Reference Rate is the most current Cash Rate Target as specified by the Reserve Bank of Australia
(http://www.rba.gov.au/Statistics/cashrate_target.html)

Risk Level: a percentage calculated as follows: (Total Equity divided by Margin Requirement) multiplied by 100.

Round Lot: A trade of a Lot and the reversing trade (in & out) are referred to as a "Round Lot" or "Round Turn". For example, the sale of a Lot of

GBP/EUR (short) would be closed out with a purchase of a Lot of GBP/EUR (long).

Referring Party: A party who refers a customer to GFT.

SEC: Securities and Exchange Commission, a US Federal regulatory agency charged with oversight and enforcement of US federal securities law.
Security: Common or preferred stock; a bond of a corporation, government or quasi-governmental body.

Settlement Date: The date upon which Foreign Exchange Contracts settle.

Settlement Price: The daily price at which the clearing house settles all accounts between clearing members for each Contract Month. Settlement prices are
used to determine both Margin Calls and invoice prices for deliveries. The term also refers to a price established by the clearing organization to calculate
account values and determine Margins for those positions still held and not yet Liquidated.

Settlement Risk: Where a payment is made to counterparty before the counter value payment has been made. The risk is that the counterparty’s
payment will not be received.

Short Position: An excess of sales over purchases of a relevant Commodity, Currency or investment instrument. (Opposite of a Long Position)

Slippage: Refers to the negative (or depreciating) Pip value between where a Stop-Loss Order becomes a Market Order and where that Market Order
may be filled.

Spot Contract: The most common foreign exchange transaction, the current or “now” price of the quoted currencies. Spot refers to the spot
transaction Value Date that requires settlement within two Business Days, subject to Value Date calculation.

Spot Market: A market in which commodities, such as grain, gold or crude oil are bought and sold for cash and delivered immediately.
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Spot Price: The price at which a physical Commodity for immediate delivery is selling at a given time and place.

Spread: Used generally, means the difference between the bid and Offer (ask) price of a financial product, used to measure market liquidity. Narrower
Spreads usually signify high liquidity. In the case of a Commodity futures contract, means the purchase of one futures delivery month against the sale of
another futures delivery month of the same Commodity; the purchase of one delivery month of one Commodity against the sale of that same delivery month
of a different Commodity; or the purchase of one Commodity in one market against the sale of the Commodity in another market.

Stock Index: An indicator used to measure and report value changes in a specific group of stocks. Movement in a particular Stock Index is based on the
composition of the included stocks, weighting of individual stocks, and the method of averaging used to establish an index.

Stock Market: A market in which shares of stock are bought and sold.

Stop-Loss Order or Stop Order: Order to buy or sell at the best available price when a given price threshold has been reached.

Straddle Order: This is a combination of buy and sell in OCO form. For example, a user may place a buy stop above the market and a sell stop below the
market as OCO Orders. If one fills, the other is automatically cancelled. The opposite of the above would also be allowed.

Suspension: The end of the evening session for specific futures markets.

Tick: The smallest allowable increment of price movement for a contract.

Tom/Next swap price: The swap price used in the daily Tomorrow Next day procedure and takes into account among other things the interest rate
differential of the two currencies in the pair that is being traded (Forex only).
Total Equity: the sum of the following:-
          Cash;
          Plus any positive Floating P&L; Less any
          negative Floating P&L; Plus any positive
          Unrealised P&L; Less any negative
          Unrealised P&L.

Trailing Stop Order : an instruction to place a stop Order at a specific distance from GFT's current price.

Trend: The general upward or downward direction in which prices have been moving during a given time period.

UK: United Kingdom of Great Britain.

Underlying, Underlying Asset ,Underlying Instrument or Underlying Security: the Currency, Commodity, index, or share, among other things, from which
a Derivative such as a Forex Contract, Forex Option, or CFD derives its price.

Unrealised P&L: this only applies in relation to spot Forex transactions you effect with your Account. Your “Unrealised P&L” is the profit or loss on a
closed spotForex transaction that has not been reflected in your Cash (for your information in the case of a spot Forex transaction the profit or loss
on a closed position will not be reflected in your Cash until the 2nd day after the trade has been closed, excluding the day on which it was closed).

US: United States of America.

USD: United States Dollars.

US Federal Law: The laws, statutes and regulations enacted by the federal government of the United States.

U.S. Treasury Note: Government-debt Security with a coupon and original maturity of one to 10 years.

Volatility: A measurement of a price change over a given time period.




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ANNEXURE A - MARKET INFORMATION SHEETS
The following Market Information Sheet is accurate as at the date of this PDS. The information is the Market Information Sheet is subject to change from time to time and the updated version may be obtained
at http://www.gft.com.au//Range-of-Markets/CFD-Pricing/Default.aspx

A Market Information Sheet dated after the date of this PDS and found at the link listed above, supersedes and replaces the Market Information Sheet prepared and attached to this PDS. You should ensure
that you are referring to the current Market Information Sheet as made available on our website.

CFD Individual Equities

                                                                                    Basis of Price and Interest                                              Min / Max Size     Tick Factor
                                                       Minimum       IM Factor
             Equity                 GFT Commission                                    Rate Used for Finance                 GFT Trading Hours                  (1 cfd = 1     (per 100 CFDs)   Currency   Example Price     Last Update
                                                      Commission   (Margin Req)
                                                                                          Adjustments                                                            share)             â€

                                                                                                                  10:00 - 16:00 Sydney time (Opening times
                                                                    5% on some
                                                                                    BBA AUD LIBOR Spot Next         are staggered from 10:00 Sydney time
             Australia                  0.10%           10 AUD     stocks, 10% on                                                                              1 / No Max      1 AUS cent        AUD          2.455          23/10/2009
                                                                                    rate at 17:00 New York time     and are approximately: A-B 10:00; C-F
                                                                       others
                                                                                                                   10:03; G-M 10:05; N-R 10:07; S-Z 10:09)

                                                                                                                             UK 08:00 - 16:30;
                                                                                    BBA LIBOR EUR Overnight
             Austria                    0.10%           10 EUR         10%                                                                                     1 / No Max      1 Euro cent       EUR          76.54          23/10/2009
                                                                                    rate at 17:00 New York time
                                                                                                                            Local 09:00 - 17:30

                                                                                                                              UK 8:00 - 16:30
                                                                                    BBA LIBOR EUR Overnight
             Belgium                    0.10%           10 EUR         10%                                                                                     1 / No Max      1 Euro cent       EUR          9.87           23/10/2009
                                                                                    rate at 17:00 New York time
                                                                                                                             Local 9:00 - 17:30

                                                                                    BBA DKK LIBOR Spot Next                                                                     0.01 of 1
            Denmark                     0.10%          100 DKK         10%                                                   09:00 - 16:55 CET                 1 / No Max                        DKK          368            15/04/2011
                                                                                    rate at 17:00 New York time                                                               Danish Krone
                                                                    VARIABLE -
 Depository Receipts and Exchange
                                     2.95 cents per                please contact   BBA USD LIBOR Overnight
  Traded Funds (ADRs, GDRs and                          10 USD                                                               09:30 - 16:00 EST                 1 / No Max       1 US cent        USD          28.64          15/03/2011
                                         share                     Trading Desk     rate at 17:00 New York time
              ETFs)
                                                                      for details

                                                                                                                              UK 8:00 - 16:30

                                                                                    BBA LIBOR EUR Overnight
           Euro Sectors                 0.10%           10 EUR         10%                                                                                     1 / No Max      1 Euro cent       EUR         25.315          19/10/2010
                                                                                    rate at 17:00 New York time

                                                                                                                             Local 9:00 - 17:30

                                                                                    BBA LIBOR EUR Overnight
             Finland                    0.10%           10 EUR         10%                                               10:00 - 18:20 Helsinki time           1 / No Max      1 Euro cent       EUR          22.22          23/10/2009
                                                                                    rate at 17:00 New York time

                                                                                                                              UK 8:00 - 16:30
                                                                                    BBA LIBOR EUR Overnight
             France                     0.10%           10 EUR         10%                                                                                     1 / No Max      1 Euro cent       EUR          23.4           23/10/2009
                                                                                    rate at 17:00 New York time
                                                                                                                             Local 9:00 - 17:30

                                                                                                                              UK 8:00 - 16:30
                                                                                    BBA LIBOR EUR Overnight
            Germany                     0.10%           10 EUR         10%                                                                                     1 / No Max      1 Euro cent       EUR          1225           23/10/2009
                                                                                    rate at 17:00 New York time
                                                                                                                             Local 9:00 - 17:30

                                                                                    BBA LIBOR EUR Overnight
             Greece                     0.45%           10 EUR         20%                                                  10:30 to 17:00 EET                 1 / No Max      1 Euro Cent       EUR          4.595           10/6/2011
                                                                                    rate at 17:00 New York time

                                                                                      HIBOR – Hong Kong
                                                                                                                   09:30 - 12:00; 13:00 - 16:00 Hong Kong
           Hong Kong                    0.30%           25 HKD         10%            Interbank Offer Rate at                                                  1 / No Max      1 HKD cent        HKD          24.85           2/3/2012
                                                                                                                                     time
                                                                                       17:00 New York time

                                                                                                                             UK 08:02 - 16:00
                                                                                    BBA LIBOR HUF Overnight
             Hungary                    0.25%          3500 HUF        25%                                                                                     1 / No Max      1 HUF cent        HUF          9360           23/10/2009
                                                                                    rate at 17:00 New York time
                                                                                                                            Local 09:02 - 17:00

                                                                                                                              UK 8:10 - 16:25
                                                                                    BBA LIBOR EUR Overnight
               Italy                    0.10%           10 EUR         10%                                                                                     1 / No Max      1 Euro cent       EUR          18.32           2/3/2010
                                                                                    rate at 17:00 New York time
                                                                                                                             Local 9:10 - 17:25

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                                                                                               UK 8:00 - 16:30
                                                          BBA LIBOR EUR Overnight
Netherlands       0.10%         10 EUR        10%                                                                        1 / No Max    1 Euro cent     EUR   10.05          23/10/2009
                                                          rate at 17:00 New York time
                                                                                              Local 9:00 - 17:30

                                                                                                                                        0.01 of 1
                                                           NIBOR one week rate at
  Norway          0.10%         100 NOK       10%                                             09:00 - 17:20 CET          1 / No Max    Norwegian       NOK   128.55         23/10/2009
                                                            17:00 New York time
                                                                                                                                         Krone
                                                          WIBOR - Warsaw Interbank
  Poland          0.25%         50 PLN        25%          Offer Rate Overnight at             9:00 - 17:20 CET          1 / No Max   1 Polish grosz   PLN   16.95          26/01/2011
                                                            17:00 New York time

                                                          BBA LIBOR EUR Overnight                                                     0.01 of 1 Euro
 Portugal         0.10%         10 EUR        10%                                             09:00 - 17:30 CET          1 / No Max                    EUR   120.25         23/10/2009
                                                          rate at 17:00 New York time                                                      cent

                                                           Association of Banks in
Singapore         0.25%         20 SGD        10%         Singapore SIBOR 1 Month        09:00 - 17:00 Singapore Time    1 / No Max    1 SGD cent      SGD    3.12          23/09/2011
                                                           at 17:00 New York time

                                                          BBA LIBOR ZAR Overnight
South Africa      0.45%         150 ZAR       10%                                       09:00- 17:00 Johannesburg time   1 / No Max    1 ZAR cent      ZAR   8787           23/10/2009
                                                          rate at 17:00 New York time

                                                                                               UK 8:00 - 16:30
                                                          BBA LIBOR EUR Overnight
   Spain          0.10%         10 EUR        10%                                                                        1 / 10,000    1 Euro cent     EUR   20.22          16/02/2009
                                                          rate at 17:00 New York time
                                                                                              Local 9:00 - 17:30

                                                           Stockholm Interbank Offer
                                                                                                                                       0.01 of one
  Sweden          0.10%         100 SEK       10%         Tom/Next rate at 17:00 New          09:00 - 17:20 CET          1 / No Max                    SEK    1.79          23/10/2009
                                                                                                                                      Swedish Krona
                                                                  York time

                                                                                              UK 08:00 - 16:20;
                                                          BBA CHF LIBOR Spot Next
Switzerland       0.10%         15 CHF        10%                                                                        1 / No Max     1 centime      CHF   20.53           10/6/2011
                                                          rate at 17:00 New York time
                                                                                              Local 09:00 - 17:20

                                          (UK 350 5% to
                                                          BBA GBP LIBOR Overnight
    UK            0.10%         7 GBP      10%) (AIM 50                                        UK 8:00 - 16:30           1 / No Max      1 pence       GBp   250.5          19/10/2010
                                                          rate at 17:00 New York time
                                              25%)

                                                                                               UK 14:30 - 21:00
               2.95 cents per                             BBA USD LIBOR Overnight
    US                          10 USD        10%                                                                        1 / No Max     1 US cent      USD   120.05          7/6/2011
                   share                                  rate at 17:00 New York time
                                                                                              Local 9:30 - 16:00




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CFD Stock Indices (Cash)
                                                                                                                                                                            Guaranteed
                               GFT Spread in       IM Factor
                                                                                            Basis of Price and Interest Rate   Min / Max     Tick     Example              Stops (charge       Underlying          Last
      Index         Symbol     (out of) market      (Margin      GFT Trading Hours                                                                              Currency
                                                                                             Used fr Finance Adjustments         Size      Factor†   Price                / minimum            Index            Update
                                    hours            Req)
                                                                                                                                                                             distance)


                                                               24 hours with five minute
                                                                  break from 09:00 to
                                                                  09:05 Sydney time
                                                                (Monday 09:50 open to
                                                                 Saturday 07:00 close
                                 Day session                    Sydney time during US
                                    (while                       daylight saving time).
   Australia 200               underlying cash                                              BBA AUD LIBOR Spot Next rate at                 1 index                                           S&P/ASX200
                    .AUS200                         0.50%                                                                       1 / 250               5502.5      AUD         Feb-50                            23/12/2011
      Index                    is open) 0.5, all                                                      17:00 ET                               point                                              Indexâ„¢
                               other times 2 to                24 hours with five minute
                                       6                          break from 09:00 to
                                                                  09:05 Sydney time
                                                                (Monday 09:50 open to
                                                                 Saturday 08:00 close
                                                               Sydney time during non-
                                                               US daylight saving time).

                                                                                                                                                                                               Dow Jones
   EU Stocks 50                                                                             BBA EUR LIBOR Overnight rate at                 1 index                                              EURO
                    .STOXX50          2               1%          08:00 - 22:00 CET                                             1 / 500                3804       €         3 / 100                             8/6/2011
      Index                                                                                      17:00 New York time                         point                                             STOXX50
                                                                                                                                                                                                Indexâ„¢
                                                               23:05 - 23:00 CET (ie 24
                                                                  hours with a 5 min
                                 From 1 to 6                                                BBA EUR LIBOR Overnight rate at                 1 index                                              CAC40
 France 40 Index      .F40                          0.50%        break); (Friday close                                          1 / 1000              5601.3      EUR         Feb-50                              8/6/2011
                                   points                                                             17:00 ET                               point                                              Indexâ„¢
                                                               22:15 CET, Monday open
                                                                      00:00 CET)
                                                               23:05 - 23:00 CET (ie 24
                                                                  hours with a 5 min
                                 From 1 to 8                                                BBA EUR LIBOR Overnight rate at                 1 index                                            Xetra DAX
 Germany 30 Index    .DE30                          0.50%        break); (Friday close                                          1 / 1000              4065.4      EUR         Feb-50                              8/6/2011
                                   points                                                             17:00 ET                               point                                              Indexâ„¢
                                                               22:15 CET, Monday open
                                                                      00:00 CET)
                                                               09:15 - 12:00 Hong Kong
  Hong Kong 40                                                           Time;                                                              1 index                                            Hang Seng
                     .HK40            10              1%                                    HIBOR Overnight rate at 17:00 ET    1 / 2500               16830      HKD        10 / 750                             2/3/2012
     Index                                                     13:00 - 16:15 Hong Kong                                                       point                                               Index
                                                                         Time

                                                                                            BBA EUR LIBOR Overnight rate at                 1 index                                            FTSE/MIB
   Italy 40 Index     .IT40           10              1%          09:00 - 17:40 CET                                             1 / 250                37557      €        10 / 1000                            8/6/2011
                                                                                                      17:00 ET                               point                                              Indexâ„¢

                                                               24 hours with a 5 minute
                                                                 pause from 16:00 to
                                                                16:05 ET-1, but we do
                                 From 5 to 8                    not quote the break in      BBA JPY LIBOR Overnight rate at                 1 index                                            Nikkei 225
 Japan 225 Index     .JP225                           1%                                                                       1 / 25000               8240       Yen        10 / 400                            10/6/2011
                                   points                      CME hours from 15:15 to                17:00 ET                               point                                              Indexâ„¢
                                                                 15:30 ET-1. (Sunday
                                                               open 17:00 ET-1; Friday
                                                                  close 15:15 ET-1)

                                                                                            BBA EUR LIBOR Overnight rate at                 1 index                                             IBEX-35
  Spain 35 Index     .ES35            5               1%          09:00 - 17:35 CET                                             1 / 250                11885      €         5 / 400                             8/6/2011
                                                                                                      17:00 ET                               point                                              Indexâ„¢


  Switzerland 20                                                                            BBA CHF LIBOR Spot Next rate at                 1 index
                     .SWI20           3               1%          08:00 - 22:00 CET                                              1/500                5555.1      CHF         5 / 275         SMI Indexâ„¢        8/6/2011
      Index                                                                                      17:00 New York time                         point

                                                                 22:05 - 22:00 London
                                                               time (i.e. 24 hours with a
                                 From 1 to 6                                                BBA GBP LIBOR Overnight rate at                 1 index                                             FTSE 100
   UK 100 Index      .UK100                         0.75%        5 minute gap) (Friday                                          1 / 1000               6100       GBP         Feb-50                              8/6/2011
                                   points                                                             17:00 ET                               point                                               Indexâ„¢
                                                                 close 21:15, Sunday
                                                               open 23:00 London time)




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                                                                                                                                                                                                                       Page 40 of 51
                                                                               08:15 - 16:30 London         BBA GBP LIBOR Spot Next rate at                              1 index                                                        FTSE 250
  UK 250 index          .UK250                20                  1%                                                                                      1 / 100                      7901            GBP               20                              26/10/2009
                                                                                       Time                           17:00 ET                                            point                                                         cash index
                                                             Typically
                                                            5% to 10%
                                                                                                                                                                                                                                        FTSE 350
                                                             (UK 350           08:15 - 16:30 London         BBA GBP LIBOR Overnight rate at                              1 index
  UK 350 Sectors      .UKNMXxxxx            0.45%                                                                                                         1 / 500                     4500.5           GBP               N/A            â„¢ sectors      23/07/2010
                                                             BANKS                      time                          17:00 ET                                            point
                                                                                                                                                                                                                                          indices
                                                             sector is
                                                              25%)
                                                                              20:00 - 18:00 with a 5
                                                                             minute pause from 17:00
  US Small Cap                                                                                              BBA USD LIBOR Overnight rate at                              1 index                                                       Russell 2000
                       .US2000                0.4                 1%           to 17:05 ET (Sunday                                                         1/ 500                      722                $            0.5 / 5                            10/6/2011
   2000 Index                                                                                                         17:00 ET                                            point                                                         Indexiâ„¢
                                                                              open 18:00 ET; Friday
                                                                                  close 17:00 ET)

                                                                               24 hours, with a break
                                                                             from 15:15 to 15:30 ET-1,
                                                                              16:00 to 16:05 ET-1, and
   US SPX 500                                                                                               BBA USD LIBOR Overnight rate at                              1 index                                                        E-mini S&P
                        .US500                0.5                 1%           16:30 to 17:00 Chicago                                                     1 / 5,000                   1313.2              $            .4 / 10                            10/6/2011
      Index                                                                                                           17:00 ET                                            point                                                        500 Indexâ„¢
                                                                                time. (Sunday open
                                                                              17:00 ET-1; Friday close
                                                                                    15:15 ET-1)

                                                                               24 hours, with a break
                                                                             from 15:15 to 15:30 ET-1,
                                       2 from 08:35 to
                                                                              16:00 to 16:05 ET-1, and                                                                                                                                    E-mini
   US Tech 100                         15:00 Chicago                                                        BBA USD LIBOR Overnight rate at                              1 index
                        .USTEC                                    1%           16:30 to 17:00 Chicago                                                     1 / 2,500                   1188.1           USD              1-Oct             Nasdaq         15/06/2011
      Index                            time; 4 outside                                                                17:00 ET                                            point
                                                                                time. (Sunday open                                                                                                                                        100â„¢
                                        of these times
                                                                              17:00 ET-1; Friday close
                                                                                    15:15 ET-1)

                                                                               24 hours, with a break
                                                                             from 15:15 to 15:30 ET-1,
                                                                              16:00 to 16:05 ET-1, and
  US Wall Street                         From 1 to 4                                                        BBA USD LIBOR Overnight rate at                              1 index                                                           DJIA
                         .US30                                  0.75%          16:30 to 17:00 Chicago                                                     1 / 1000                    11440            USD             4 / 100                           28/10/2011
    Index 30                               points                                                                     17:00 ET                                            point                                                          Indexâ„¢
                                                                                time. (Sunday open
                                                                              17:00 ET-1; Friday close
                                                                                    15:15 ET-1)


CFD Stock Indices (Futures)
                                  GFT Spread in                                                                                                                Min /                                          Guaranteed Stops
                                                         IM Factor         GFT Trading           Contract        Last Dealing          Basis of                            Tick     Example                                            Underlying
    Index          Symbol         (out of) market                                                                                                              Max                             Currency       (charge / minimum                          Last Update
                                                       (Margin Req)          Hours               Months              Day              Settlement                         Factor†   Price                                               Index
                                       hours                                                                                                                   Size                                                distance)

                                                                                                                                      S&P / ASX final
                                                                          24 hours trading,
                                                                                                                                   settlement price for
                                                                           Monday open
                                                                                                                                   SPI 200â„¢ futures
                                                                         09:50 to Saturday
                                                                                                                                       on GFTs last
                                                                            close 07:00
                                                                                                                                    dealing day, basis
                                                                            Sydney time
                                                                                                                                   a Special Opening
                                  Day Session 4,                         during US daylight
                                                                                                                  Underlying's       Quotation of the
                                 Night Session 4 +                          saving time.                                                                                                                                              S&P/ASX200
 Australia 200                                                                                Mar, Jun, Sep,     last trade date        underlying                        1 index
                   AUS200xx      Underlying market        0.50%                                                                                               1 / 250               5502.5       AUD               Feb-50               Indexâ„¢         23/12/2011
    Index                                                                                          Dec              at 12:00           S&P/ASX 200                         point
                                  spread, Out of                         24 hours trading,                                                                                                                                               Futures
                                                                                                                  Sydney Time.       index on the last
                                     Hours 6                               Monday open                                              dealing day. SFE
                                                                         09:50 to Saturday                                         Clearing publishes
                                                                            close 08:00                                            the final settlement
                                                                           Sydney time                                               price on the first
                                                                          during non-US                                            business day after
                                                                          daylight saving                                                 expiry.
                                                                               time.
                                                                                                                                       The official
                                                                                                                                   settlement price is
                                                                                                                                    the value of the
                                                                                                                  Underlying's     ATX index on the
  Austria 20                      3 + Underlying                                              Mar, Jun, Sep,                                                              1 index                                                     ATX Indexâ„¢
                   AUT20XX                                 1%            09:03 - 17:40 CET                       last trade date      basis of the            1 / 1500              4588.6       EUR               3 / 100                               25/09/2011
    Index                         market spread                                                    Dec                                                                     point                                                        Futures
                                                                                                                 at 12:00 CET.     auction prices for
                                                                                                                                    the ATX stocks
                                                                                                                                     from 12:00 to
                                                                                                                                       12:05 CET.

                                                                                                                                                                                                                                  PDS - CFD AND FOREX (Aus English): 3/30/2012
                                                                                                                                                                                                                                                                 Revision: 007
                                                                                                                                                                                                                                                                Page 41 of 51
                                                                                                 Underlying's      Official Settlement
                                                                                                last trade date    Price of S&P/TSE                                                           S&P/TSX 60
 Canada 60                                                   09:30 - 16:15     Mar, Jun, Sep,                                                        1 index
                  CAN60xx            1              1%                                             at 16:15       60 index on the 3rd     1 / 1500             750.8    CAD    20-Jan          Indexâ„¢            8/6/2011
   Index                                                     Montreal time          Dec                                                               point
                                                                                                   Montreal           Friday of the                                                             Futures
                                                                                                     Time.           contract month
                                                                                                                   The HKFE Official
                                                                                                                  Settlement Price is
                                                                                                                     an average of                                                             Hang Seng
                                                                                                 Underlying's
                                                             09:15 - 12:00;                                          quotions of the                                                              China
  China H-                                                                                      last trade date                                      1 index
                 CHINAHXX            12             1%       13:00 - 16:15        Monthly                         HSCEI index taken       1/7500               17199    HKD   12 / 400         Enterprises         2/3/2012
Shares Index                                                                                    at 16:00 Hong                                         point
                                                            Hong Kong time                                             at 5 minute                                                              Indexâ„¢
                                                                                                  Kong Time.
                                                                                                                  intervals during the                                                           Futures
                                                                                                                    GFT last trading
                                                                                                                           day.
                                                                                                                      Official OMX
                                                                                                                          Nordic
                                                                                                 Underlying's                                                                                OMX C20 Cap
 Denmark 20                    1 + underlying               09:00 - 16:50                                             Exchangeâ„¢                    1 index
                  DEN20xx                           1%                            Monthly       last trade date                           1/5000               414.85   DKK    15-Jan          Indexâ„¢          13/01/2012
   Index                       market spread               Copenhagen time                                        settlement price on                 point
                                                                                                at 16:50 CET.                                                                                   Futures
                                                                                                                   GFTs last dealing
                                                                                                                           day.
                                                                                                                                                                                               Dow Jones
                                                                                                                    EUREX official
                                                                                                 Underlying's                                                                                    EURO
EU Stocks 50                                                                   Mar, Jun, Sep,                     settlement price on                1 index
                  EU50XX             3              1%     8:00 - 22:00 CET                     last trade date                           1 / 500              3804     €    3 / 100         STOXX50             8/6/2011
   Index                                                                            Dec                            GFTs last dealing                  point
                                                                                                at 12:00 CET.                                                                                   Indexâ„¢
                                                                                                                         day
                                                                                                                                                                                                 Futures
                                                           24 hours (Friday
                                                                                                                   Euronext.LIFFE
                                                             close at 22:15                      Underlying's                                                                                    CAC40
  France 40                                                                                                       official settlement                1 index
                  F40XX      From 3 to 10 points   0.50%     CET, Monday          Monthly       last trade date                           1 / 1000             5601.3   EUR    Feb-50           Indexâ„¢           8/6/2011
    Index                                                                                                         price on GFTs last                  point
                                                             open at 00:00                      at 16:00 CET.                                                                                    Futures
                                                                                                                      dealing day
                                                                 CET)
                                                           24 hours (Friday                                         EUREX official
                                                                                                 Underlying's                                                                                  Xetra DAX
 Germany 30                                                close 22:15 CET,    Mar, Jun, Sep,                     settlement price on                1 index
                  DE30xx     From 4 to 10 points   0.50%                                        last trade date                           1 / 1000             4065.4   EUR    Feb-50           Indexâ„¢           8/6/2011
    Index                                                    Monday open            Dec                            GFTs last dealing                  point
                                                                                                at 13:00 CET.                                                                                    Futures
                                                              00:00 CET)                                                 day
                                                                                                                  EUREXâ„¢ official
                                                                                                 Underlying's                                                                                 Xetra MDAX
Germany Mid-                   8 + Underlying                                  Mar, Jun, Sep,                     settlement price on                1 index
                 MDE50xx                           0.01    08:00 - 22:00 CET                    last trade date                           1 / 100              8746     EUR    4 / 100         Indexâ„¢          23/09/2011
   Cap 50                      market spread                                        Dec                            GFTs last dealing                  point
                                                                                                at 13:05 CET.                                                                                   Futures
                                                                                                                         day.
                                                                                                                  EUREXâ„¢ official
                                                                                                 Underlying's                                                                                Xetra TecDAX
Germany Tech                   2 + Underlying                                  Mar, Jun, Sep,                     settlement price on                1 index
                 DETEC30xx                         0.01    08:00 - 22:00 CET                    last trade date                           1 / 500              719.5    EUR   0.3 / 10         Indexâ„¢          26/09/2011
    30                         market spread                                        Dec                            GFTs last dealing                  point
                                                                                                at 13:00 CET.                                                                                   Futures
                                                                                                                         day
                                                            09:15 - 12:00                        Underlying's        HKFE official
Hong Kong 40                                               Hong Kong Time;                      last trade date   settlement price on                1 index                                   Hang Seng
                  HK40XX             25             1%                            Monthly                                                 1/2500               16830    HKD   10 / 750                             2/3/2012
   Index                                                    13:00 - 16:15                         at 16:00 HK      GFTs last dealing                  point                                  Index?Futures
                                                           Hong Kong Time                             time.              day
                                                                                                  1 business
                                                                                                                   Official Budapest
                                                                                                  day prior to
                                                                                                                   Stock Exchange
 Hungary 14                   140 + underlying                                                         the                                  1/       1 index                                  BUX Indexâ„¢
                  HU14xx                            1%     09:02 - 17:00 CET        Dec                           settlement price on                          25960    HUF   20 / 750                             8/6/2011
   Index                       market spread                                                      underlying's                            10000       point                                     Futures
                                                                                                                   GFTs last dealing
                                                                                                last trade date
                                                                                                                           day
                                                                                                at 17:00 CET.
                                                                                                                        The Final
                                                                                                                    Settlement Price
                                                                                                                  shall be the official
                                                                                                                  closing price of the
                                                                                                 Underlying's       CNX Nifty Index,
                                                             09:00 - 18:10
                                                                                                last trade date    which is based on
India 50 Index                 2 + Underlying              Singapore TIme                                                                            1 Index                                 SGX CNX Nifty
                  IND50xx                           1%                            Monthly          at 18:10           the average         1 / 250              4420     USD    3 / 150                            10/2/2012
(USD contract)                     Spread                  (May vary due to                                                                           point                                   Index Futures
                                                                                                  Singapore        weighted prices of
                                                             Sun outage)
                                                                                                     Time.           the individual
                                                                                                                   component stocks
                                                                                                                  of the index during
                                                                                                                  the last 30 minutes
                                                                                                                       of trading.
                                                                                                  1 business
                                                                                                  day prior to        MSE official
                                                                                                                                                                                               FTSE/MIB
                                                                               Mar, Jun, Sep,          the        settlement price on                1 index
Italy 40 Index     IT40xx            20             1%     09:00 - 17:40 CET                                                              1 / 250              37557    €   10 / 1000         Index™           8/6/2011
                                                                                    Dec           underlying's       3rd Friday of                    point
                                                                                                                                                                                                 Futures
                                                                                                last trade date     contract month
                                                                                                at 17:40 CET.




                                                                                                                                                                                          PDS - CFD AND FOREX (Aus English): 3/30/2012
                                                                                                                                                                                                                         Revision: 007
                                                                                                                                                                                                                        Page 42 of 51
                                                                                                                     Nikkei 225â„¢
                                                          24 hours, but we                                          special opening
                                                          do not quote the                                          quotation (from
                                                           break in CME                         Underlying's     SGX) based on the
                                                          hours from 15:15                     last trade date     opening prices of                                                             SGX Nikkei
  Japan 225                                                                   Mar, Jun, Sep,                                              1/        1 index
                 JP225XX    From 8 to 15 points    1%      to 15:30 ET-1.                         at 14:15       each component in                               8240     Yen    10 / 400       225 Indexâ„¢        10/6/2011
    Index                                                                          Dec                                                  25000        point
                                                           Sundays open                          Singapore        the Nikkei 225 â„¢                                                              Futures
                                                             17:00 ET-1,                            Time.            index on the
                                                            Fridays close                                            business day
                                                             15:15 ET-1                                          following GFTs last
                                                                                                                      trading day
                                                                                                                                                     1 index
                                                                                                                                                      point
                                                                                                                                                      (GFT
                                                                                                                 Official Settlement
                                                                                                Underlying's                                         price is
                                                                                                                  Price of KOSPI                                                                 KOSPI 200
  Korea 200                                                 09:00 - 15:05     Mar, Jun, Sep,   last trade date                            1/       100 times
                 KOR200xx           20             1%                                                             200â„¢ Index on                               20750     KRW                     Indexâ„¢           8/6/2011
    Index                                                    Seoul time            Dec            at 14:50                              200000       greater
                                                                                                                 GFTs last trading                                                                 Futures
                                                                                                 Seoul Time.                                        than the
                                                                                                                         day.
                                                                                                                                                     price of
                                                                                                                                                   underlying
                                                                                                                                                     index)
                                                                                                                      Official IPC
                                                                                                Underlying's        (Mexico Bolsa
  Mexico 35                  30 + underlying                08:30 - 15:00     Mar, Jun, Sep,   last trade date           Index                      1 index                                     IPC Indexâ„¢
                 MEX35xx                           1%                                                                                   1/2200                  30928     MXN    30 / 800                            8/6/2011
   Index                     market spread                  Mexico Time            Dec            at 15:00         futures)closing                   point                                        Futures
                                                                                                Mexico Time.     price on GFTs last
                                                                                                                      dealing day
                                                                                                                        Official
                                                          24 hours (Friday                                         Euronext.LIFFE
                                                                                                Underlying's
Netherlands 25                From 0.4 to 1.0             close 22:15 CET,                                       settlement price of                1 index
                  N25xx                            1%                            Monthly       last trade date                          1/2000                   260.1    Euro   0.3 / 10                            8/6/2011
    Index                         points                    Monday open                                             AEX-index on                     point
                                                                                               at 16:00 CET.
                                                             00:00 CET)                                           GFTs last day of
                                                                                                                        dealing
                                                                                                                 Official Oslo Stock
                                                                                                Underlying's         Exchangeâ„¢
  Norway 25                  0.6 + underlying                                                                                                       1 index                                     OBX Indexâ„¢
                 NOR25XX                           1%     09:00 - 17:20 CET      Monthly       last trade date     closing price on     1/2000                   192.1    NOK    10-Jan                              8/6/2011
    index                     market spread                                                                                                          point                                        Futures
                                                                                               at 17:20 CET.      GFTs last dealing
                                                                                                                          day.
                                                                                                                  WARSAW Stock
                                                                                                Underlying's      Exchange official                                                                WIG20
  Poland 20                                                                   Mar, Jun, Sep,                                                        1 index
                  P20XX             4              1%     08:30 - 17:20 CET                    last trade date   settlement price on    1 / 500                 3669.3    PLN    Mar-85           Indexâ„¢           8/6/2011
    Index                                                                          Dec                                                               point
                                                                                               at 17:20 CET.      GFTs last dealing                                                                Futures
                                                                                                                          day
                                                                                                Underlying's
                                                                                                                   Special Opening                                                                  MSCI
  Singapore                                                 08:30 - 17:10;                     last trade date
                             0.4 + underlying                                                                     Quotation on day                  1 index                                      Singapore
  Blue Chip      SINGXX                            1%       18:15 - 01:00        Monthly          at 17:10                              1/3000                   454.8    SGD    10-Feb                              8/6/2011
                              market spread                                                                      following GFTs last                 point                                        Indexâ„¢
    Index                                                  Singapore Time                        Singapore
                                                                                                                      trading day.                                                                 Futures
                                                                                                    Time.
                                                                                                                  Official Settlement
                                                                                                Underlying's
                                                                                                                      Price of the                                                               FTSE/JSE
                                                           08:30 - 17:30                       last trade date
 South Africa                                                                 Mar, Jun, Sep,                      FTSE/JSE Top 40                   1 index                                     Africa Top 40
                 ZAF40xx            20             1%      Johannesburg                           at 13:40                              1 / 1500                28755     ZAR    10 / 700                            8/6/2011
  40 Index                                                                         Dec                            ALSI â„¢ index on                  point                                        Indexâ„¢
                                                               time                            Johannesburg
                                                                                                                   GFTs last day of                                                                Futures
                                                                                                    Time.
                                                                                                                        trading
                                                                                                                    MEFF official
                                                                                                Underlying's                                                                                      IBEX-35
                                                                                                                 settlement price on                1 index
Spain 35 Index   ES35XX             8              1%     09:00 - 17:35 CET      Monthly       last trade date                          1 / 250                 11885     €    5 / 400          Index™           8/6/2011
                                                                                                                  GFTs last dealing                  point
                                                                                               at 16:15 CET.                                                                                       Futures
                                                                                                                           day
                                                                                                                       Difference
                                                                                                                     between the
                                                                                                                    previous days
                                                                                                                 future closing price                                                               OMX
                                                                                                Underlying's
 Sweden 30                                                                                                          and a volume          1/        1 index                                     Stockholm 30
                 SWE30XX           1.5             1%     09:00 - 17:20 CET      Monthly       last trade date                                                  1220.75   SEK    Jan-35                              8/6/2011
   index                                                                                                          weighted average      15000        point                                        Indexâ„¢
                                                                                               at 17:20 CET.
                                                                                                                      price of the                                                                 Futures
                                                                                                                 OMXS30â„¢ index
                                                                                                                    on GFTs last
                                                                                                                      dealing day
                                                                                                                    Eurex official
                                                                                                Underlying's
Switzerland 20                                                                Mar, Jun, Sep,                     settlement price on                1 index                                     SMI Indexâ„¢
                 SWI20XX            5              1%     08:00 - 22:00 CET                    last trade date                           1/500                  5555.1    CHF    5 / 275                             8/6/2011
    Index                                                                          Dec                            GFTs last dealing                  point                                        Futures
                                                                                               at 09:00 CET.
                                                                                                                           day
                                                          24 hours (Friday
                                                                                                 Underlying's     Euronext.LIFFE
                                                            close 21:15,                                                                                                                          FTSE 100
                                                                              Mar, Jun, Sep,   last trade date   official settlement                1 index
UK 100 Index     UK100XX    From 3 to 6 points    0.75%    Sunday open                                                                  1 / 1000                 6100     GBP    Feb-50           Indexâ„¢           8/6/2011
                                                                                   Dec            at 10:00       price on GFTs last                  point
                                                           23:00 London                                                                                                                            Futures
                                                                                                London Time.         dealing day
                                                                time)
                                                                                                                                                                                            PDS - CFD AND FOREX (Aus English): 3/30/2012
                                                                                                                                                                                                                           Revision: 007
                                                                                                                                                                                                                          Page 43 of 51
                                                                                                                        1 Business
                                                                                                                                            Basis ICE
                                      3 (underlying                          20:00 - 17:00 ET                           day prior to
   US Dollar                                                                                         Mar, Jun, Sep,                       settlement on                                                                                           ICE Dollar
                        DXXX        market spread may             1%          (Sunday open                              underlying's                             1 / 250         0.01       79.52      USD                  N/A                                     8/6/2011
    Index                                                                                                 Dec                            GFT's last dealing                                                                                         Index
                                        be added)                               18:00 ET)                             last trade date
                                                                                                                                                day
                                                                                                                       at 15:00 ET.

                                                                                                                                              ICE Cash
                                                                                                                                           settlement to a
                                                                                                                                         special calculation
                                                                              20:00 - 18:00                             1 Business
                                                                                                                                        of the Russell 2000
                                                                              (Friday closes                            day prior to                                                                                                             Russell 2000
 US Small Cap                                                                                        Mar, Jun, Sep,                     Index based on the                      1 index
                       US2000XX            0.8                    1%            17:00) ET;                              underlying's                              1/ 500                     722            $              0.5 / 5                Indexâ„¢         10/6/2011
  2000 Index                                                                                              Dec                            opening prices of                       point
                                                                                                                      last trade date                                                                                                              Futures
                                                                                                                                           the component
                                                                                                                       at 16:00 ET.
                                                                                                                                         stocks on the third
                                                                                                                                            Friday of the
                                                                              Sunday opens                                                contract month.
                                                                                 18:00 ET
                                                                             24 hours, with a
                                                                                                                        1 business
                                                                             break from 15:15
                                                                                                                        day prior to        CME official
                                                                            to 15:30 ET-1 and                                                                                                                                                     E-mini S&P
  US SPX 500                                                                                         Mar, Jun, Sep,          the        settlement price on                    1 index
                       US500XX             0.7                    1%        16:30 to 17:00 ET-                                                                   1 / 5,000                  1313.2          $              .4 / 10               500 Indexâ„¢      10/6/2011
     Index                                                                                                Dec           underlying's    day following GFTs                      point
                                                                             1. Sundays open                                                                                                                                                        Futures
                                                                                                                      last trade date    last dealing day
                                                                            17:00 and Fridays
                                                                                                                      at 15:00 ET-1.
                                                                            close 15:15 ET-1.
                                                                             24 hours, with a
                                                                                                                        1 business
                                                                             break from 15:15
                                                                                                                        day prior to        CME official
                                                                            to 15:30 ET-1 and
 US Tech 100                                                                                         Mar, Jun, Sep,          the        settlement price on                    1 index                                                          E-mini Nasdaq
                       USTECxx              4                     1%        16:30 to 17:00 ET-                                                                   1 / 2,500                  1188.1     USD                 1-Oct                                   15/06/2011
    Index                                                                                                 Dec           underlying's    day following GFTs                      point                                                           100â„¢ Futures
                                                                             1. Sundays open
                                                                                                                      last trade date    last dealing day
                                                                            17:00 and Fridays
                                                                                                                      at 15:00 ET-1.
                                                                            close 15:15 ET-1.
                                                                                                                                         Official settlement
                                                                                                                                           price of CBOE
                                                                                                                       Underlying's      Volatility Indexâ„¢                                                                                      CBOE VIX
  US Volatility                     0.10 + underlying                                                                                                              1/          1 index
                         VXx                                      1%        07:00 - 15:15 ET-1           Monthly      last trade date      ("VIX") futures                                  43.65      USD                  n/a                    Indexâ„¢        18/11/2011
    Index                            market spread                                                                                                               100,000        point
                                                                                                                      at 15:15 ET-1.    contract on the day                                                                                         Futures
                                                                                                                                         following the GFT
                                                                                                                                         Last Dealing Day.
                                                                             24 hours, with a
                                                                                                                        1 business
                                                                             break from 15:15
                                                                                                                        day prior to       CBOT official
                                                                            to 15:30 ET-1 and                                                                                                                                                   Mini-sized DJIA
 US Wall Street                                                                                      Mar, Jun, Sep,          the        settlement price on                    1 index
                       US30XX       8 (far month = 10)           0.75%      16:30 to 17:00 ET-                                                                   1 / 1000                   11440      USD                 4 / 100                 Indexâ„¢        28/10/2011
   Index 30                                                                                               Dec           underlying's    day following GFTs                      point
                                                                             1. Sundays open                                                                                                                                                        Futures
                                                                                                                      last trade date    last dealing day
                                                                            17:00 and Fridays
                                                                                                                      at 15:00 ET-1.
                                                                            close 15:15 ET-1.


CFD Commodities (Metals, Softs and Oil Futures)
    Commodity
                                                                                                                                                                                                                                  Equivalent
                                                                             IM Factor                                  Contract                                                           Min /     † Tick
                          Symbol                   Spread                                         Trading Hours                          Last Dealing Day         Basis of Settlement                           Currency          Underlying         Last Update
                                                                           (Margin Req)                                 Months                                                            Max Size   Factor
                                                                                                                                                                                                                                   Quantity

                                       Near month: 5 (09:00 to 14:30                               20:00 - 18:00                                                       Official ICE
                                                                                                                                          Underlying's last
  Brent Crude Oil                     ET; market spread will be added                              (Friday closes                                                  settlement price on                                          1 CFD = 100
                           LCOxx                                               2%                                        Monthly        trade date at 14:30                                1 / 100     1          USD                                  7/6/2011
     Futures                          outside these times) Far month                             17:00) ET; Sunday                                                  GFTs last day of                                               barrels
                                                                                                                                                ET.
                                            market spread + 5                                     opens 18:00 ET                                                         dealing

                                                                                                                                        1 Business day prior
                                                                                                                                                                  ICE settlement price
 Carbon Emissions                                                                               07:00-17:00 London                       to underlying's first                                                                  1 CFD = 100
                           CFI2xx      5 + Underlying market spread            10%                                         Dec                                    on GFT Last Dealing      1 / 250     1          EUR                                16/02/2012
     Futures                                                                                           time                             notice date at 17:00                                                                     metric tons
                                                                                                                                                                          Day
                                                                                                                                              UK Time.

                                                                                                                                        1 Business day prior       Official COMEX
                                                                                                                      Feb, Apr, Jun,     to underlying's first    settlement price of                                         1 CFD = 10 troy
    Gold Futures           GCxx         0.7 (i.e. 7 with trade per 0.1)        1%                18:00 - 17:15 ET                                                                          1 / 500    0.1         USD                                  7/6/2011
                                                                                                                      Aug, Oct, Dec     notice date at 13:30     contract on GFTs last                                            ounces
                                                                                                                                                ET.                 day of dealing
                                                                                                 18:00 - 17:15 ET.                      1 Business day prior         Official NYMEX
                                         30 plus underlying futures
                                                                                                  Sunday open at                         to underlying's last      settlement price on                                          1 CFD = 100
 Heating Oil Futures       HOxx            bid/offer (i.e. 0.0030 +            10%                                       Monthly                                                           1/ 100     0.01        USD                                16/02/2012
                                                                                                 18:00 and Friday                        trade date at 14:30        GFTs last dealing                                             Gallons
                                       underlying with trade per 0.01)
                                                                                                 close at 17:00 ET                               ET.                        day
                                                                                                                                        1 Business day prior
                                                                                                                                                                     Official COMEX
                                                                                                                        Mar, May,        to underlying's first                                                                 1 CFD = 2000
 High Grade Copper         HGxx        0.8 (i.e. 16 with trade per 0.05)       3%                18:00 – 17:15 ET                                                 settlement on GFTs       1 / 500    0.05        USD                                  7/6/2011
                                                                                                                      July, Sep, Dec    notice date at 13:00                                                                       LBS
                                                                                                                                                                   last day of dealing
                                                                                                                                                 ET.
                                                                                                                                                                     Official CME
                                         0.4 plus underlying futures                                                  Feb, Apr, May,      Underlying's last
                                                                                                                                                                  settlement price of                                         1 CFD = 10,000
 Lean Hogs Futures         HExx         bid/offer (i.e. 40 + underlying        4%                09:05 - 13:00 ET-1   Jun, Jul, Aug,    trade date at 12:00                                1/ 500     0.01        USD                                  7/6/2011
                                                                                                                                                                 contract on GFTs last                                             LBS
                                             with trade per 0.01)                                                       Oct, Dec               ET-1.
                                                                                                                                                                    day of dealing
                                                                                                                                                                                                                                          PDS - CFD AND FOREX (Aus English): 3/30/2012
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                                                                                                                                                                                                                                                                        Page 44 of 51
                                                                                                                       1 Business day prior         Official CME
                                    0.4 plus underlying futures
                                                                                                      Feb, Apr, Jun,    to underlying's first    settlement price of                            1 CFD = 10,000
Live Cattle Futures    LExx        bid/offer (i.e. 40 + underlying     2%     09:05 - 13:00 ET-1                                                                        1/ 500    0.01    USD                         7/6/2011
                                                                                                      Aug, Oct, Dec    notice date at 13:00     contract on GFTs last                                LBS
                                        with trade per 0.01)
                                                                                                                              ET-1.                day of dealing

                                                                                                                                                       Official
                                                                                                                       1 Business day prior
                                                                                                                                                  Euronext.LIFFE
  London Cocoa                                                                9:30 - 16:50 London       Mar, May,       to underlying's last                                                    1 CFD = 1 Metric
                       LCCxx                     8                     5%                                                                        settlement price on    1 / 100    1      GBP                        10/6/2011
     Futures                                                                          time            July, Sep, Dec    trade date at 16:50                                                          Ton
                                                                                                                                                  GFTs last day of
                                                                                                                           London Time.
                                                                                                                                                       dealing
                                                                                                                                                       Official
                                                                                                                       1 Business day prior
                                                                                                        Jan, Mar,                                 Euronext.LIFFE
  London Coffee                                                                  09:00 - 17:30                          to underlying's first                                                   1 GBP = 1 Metric
                       LRCxx                     10                    5%                               May, July,                               settlement price on     1/50      1      USD                         7/6/2011
     Futures                                                                     London time                           notice date at 17:30                                                          Ton
                                                                                                        Sep, Nov                                  GFTs last day of
                                                                                                                           London Time.
                                                                                                                                                       dealing
                                                                                20:00 - 18:00                          1 Business day prior
                                                                                                                                                     Official ICE
 London Gas Oil                                                                 (Friday closes                          to underlying's last                                                       1 CFD = 4
                      LGOxx        100 (i.e. 4 with trade per 25)      4%                                Monthly                                settlement on GFTs      1/250      25     USD                         7/6/2011
    Futures                                                                   17:00) ET; Sunday                         trade date at 11:30                                                         Tonnes
                                                                                                                                                 last day of dealing
                                                                               opens 18:00 ET                                   ET.
                                                                                                                                                       Official
                                                                                                                       1 Business day prior
                                  1 + underlying futures bid/offer                                                                                Euronext.LIFFE
  London Sugar                                                                   08:45 - 17:30         Mar, May,        to underlying's last                                                      1 CFD = 10
                       LSUxx      (i.e. 10 + underlying with trade     2%                                                                        settlement price on     1/50      0.1    USD                        18/11/2011
     Futures                                                                     London time          Aug, Oct, Dec     trade date at 17:30                                                       Metric Tons
                                              per 0.1)                                                                                            GFTs last day of
                                                                                                                           London Time.
                                                                                                                                                       dealing

                                                                                                                       1 Business day prior         Official LIFFE
                                 0.4 + underlying futures bid/offer
  London Wheat                                                                   09:25 - 17:28         Jan, Mar,        to underlying's first    settlement price on                              1 CFD = 100
                      LWBxx       (i.e. 40 + underlying with trade     8%                                                                                               1 / 100   0.01    GBP                         7/6/2011
     futures                                                                     London time          May, Jul, Nov    notice date at 17:28       GFTs last day of                                   Tons
                                              per 0.01)
                                                                                                                           London time.                dealing
                                                                                                                       1 Business day prior       Official NYMEX
                                                                                18:00 - 17:15 ET
                                                                                                                        to underlying's first   settlement price on                             1 CFD = 100 troy
Mini Silver Futures   MINISIxx                   3                     0.01   (i.e. 24 hours with a                                                                      1/25      1      USD                        12/2/2012
                                                                                                                       notice date at 13:25      GFTs last day of                                   ounces
                                                                                45 minute break)
                                                                                                                                ET.                   dealing.
                                                                               18:00 - 17:15 ET.                       1 Business day prior       Official NYMEX
                                    30 plus underlying futures
                                                                                Sunday open at                          to underlying's last    settlement price on                              1 CFD = 1000
   Natural Gas         NGxx        bid/offer (i.e. 30 + underlying     10%                               Monthly                                                        1/ 100    0.001   USD                         7/6/2011
                                                                               18:00 and Friday                         trade date at 14:30      GFTs last dealing                                  MMBtu
                                       with trade per 0.001)
                                                                               close at 17:00 ET                                ET.                      day
                                                                               18:00 - 17:15 ET.                       1 Business day prior       Official NYMEX
                                    30 plus underlying futures
   Natural Gas                                                                  Sunday open at                          to underlying's last    settlement price on                              1 CFD = 1000
                       NGxx        bid/offer (i.e. 30 + underlying     10%                               Monthly                                                        1/ 100    0.001   USD                        16/02/2012
    Futures                                                                    18:00 and Friday                         trade date at 14:30      GFTs last dealing                                  MMBtu
                                       with trade per 0.001)
                                                                               close at 17:00 ET                                ET.                      day
                                                                                                                                                    Official ICE
                                                                                                                       1 Business day prior
                                                                                                        Jan, Mar,                               settlement price of
  Orange Juice                   0.5 (i.e. 50 with trade per 0.01) +                                                    to underlying's first                                                   1 CFD = 10000
                       OJxx                                            3%      08:00 - 14:00 ET         May, July,                              FCOJ-A Futures on       1 / 100   0.01    USD                         7/6/2011
    Futures                              underlying bid/offer                                                          notice date at 13:30                                                         LBS
                                                                                                        Sep, Nov                                 GFTs last day of
                                                                                                                               ET.
                                                                                                                                                       dealing
                                                                                                                       1 Business day prior       Official NYMEX
                                                                                                      Mar, Jun, Sep,    to underlying's first   settlement price on                             1 CFD = 10 troy
Palladium Futures      PAxx        4 (i.e. 40 with trade per 0.1)      5%      18:00 - 17:15 ET                                                                          1/50      0.1    USD                         7/6/2011
                                                                                                           Dec         notice date at 13:00      GFTs last day of                                   ounces
                                                                                                                               ET.                     dealing
                                                                                                                       1 Business day prior       Official NYMEX
                                     3 plus underlying futures
                                                                                                      Jan, Apr, Jul,    to underlying's first   settlement price on                             1 CFD = 10 troy
Platinum Futures       PLxx        bid/offer (i.e. 30 + underlying     5%      18:00 - 17:15 ET                                                                          1/50      0.1    USD                         7/6/2011
                                                                                                           Oct         notice date at 13:00      GFTs last day of                                   ounces
                                         with trade per 0.1)
                                                                                                                               ET.                     dealing
                                                                              09:30-13:15, 18:00-
                                                                                  07:15 ET-1                           1 Business day prior        Official CBOT
                                                                                                       Jan, Mar,
   Rough Rice                        6 plus underlying futures                                                          to underlying's first    settlement price on
                       RRxx                                            0.05      Sundays Open         May, Jul, Sep,                                                     1/50     0.005   USD   1 CFD = 200 cwt      16/02/2012
    Futures                         bid/offer (tick factor 0.005)                                                      notice date at 13:15        GFT last day of
                                                                                     18:00                Nov
                                                                                                                              ET-1.                    dealing
                                                                              Fridays Close 13:15
                                                                                                                       1 Business day prior        Official NYMEX
                                                                                                        Mar, May,       to underlying's first    settlement price on                             1 CFD = 1000
  Silver futures        SIxx       3 (i.e. 30 with trade per 0.1)      1%      18:00 - 17:15 ET                                                                          1/50      0.1    USD                         7/6/2011
                                                                                                      July, Sep, Dec   notice date at 13:25       GFTs last day of                                troy ounces
                                                                                                                               ET.                     dealing.
                                                                                                                                                     Official ICE
                                                                                                                       1 Business day prior
                                                                                                                                                 settlement price of
                                                                                                        Mar, May,       to underlying's first                                                   1 CFD = 1 Metric
US Cocoa Futures       CCxx          10 + underlying bid/offer         3%      04:00 - 14:00 ET                                                   Cocoa Futures on      1 / 100    1      USD                        10/6/2011
                                                                                                      July, Sep, Dec   notice date at 11:50                                                          Ton
                                                                                                                                                  GFTs last day of
                                                                                                                               ET.
                                                                                                                                                        dealing

                                                                                                                       1 Business day prior          Official ICE
   US Coffee C                   0.6 (i.e. 60 with trade per 0.01) +                                    Mar, May,       to underlying's first    settlement price of                            1 CFD = 10,000
                       KCxx                                            3%      03:30 - 14:00 ET                                                                         1 / 100   0.01    USD                        10/6/2011
     Futures                             underlying bid/offer                                         July, Sep, Dec   notice date at 13:30     Coffee C Futures on                                  LBS
                                                                                                                               ET.               last day of dealing




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                                                                                                                                                                                                                                          Page 45 of 51
                                                                                      09:30 - 13:15 ET-1;
                                                                                       18:00 - 07:15 ET-1                      1 Business day prior       Official CBOT
                                   8 plus underlying futures                                                    Mar, May,       to underlying's first   settlement price on                                            1 CFD = 400
  US Corn Futures      ZCxx                                                8%         Sundays open 18:00                                                                         1 / 250    0.25        USD                               7/6/2011
                                  bid/offer (tick factor of 0.25)                                             July, Sep, Dec     notice date 13:15        GFT last day of                                                bushels
                                                                                      ET-1, Fridays close                              ET-1.                  dealing
                                                                                          13:15 ET-1
                                                                                                                                                             Official ICE
                                                                                                                               1 Business day prior
                                                                                                                                                         settlement price of
  US Cotton No. 2               0.3 (i.e. 30 with trade per 0.01) +                                             Mar, May,       to underlying's first                                                                 1 CFD = 10,000
                       CTxx                                                3%           21:00 - 14:30 ET                                                Cotton No. 2 Futures     1 / 100     100        USD                              10/6/2011
     Futures                            underlying bid/offer                                                  July, Oct, Dec   notice date at 14:15                                                                        LBS
                                                                                                                                                        on GFTs last day of
                                                                                                                                       ET.
                                                                                                                                                               dealing
                                                                                      09:30 - 13:15 ET-1;
                                                                                       18:00 - 07:15 ET-1                      1 Business day prior       Official CBOT
                                                                                                                Jan, Mar,
 US Soybean Meal                   20 plus underlying futures                                                                   to underlying's first   settlement price on                                            1 CFD = 10
                      ZMxx                                                 8%         Sundays open 18:00      May, Jul, Aug,                                                     1 / 250     0.1        USD                               7/6/2011
     Futures                                bid/offer                                                                          notice date at 13:15       GFT last day of                                              Short Tons
                                                                                      ET-1, Fridays close     Sep, Oct, Dec
                                                                                                                                      ET-1.                   dealing
                                                                                          13:15 ET-1
                                                                                      09:30 - 13:15 ET-1;
                                                                                       18:00 - 07:15 ET-1                      1 Business day prior       Official CBOT
                                                                                                                Jan, Mar,
  US Soybean Oil                    8 plus underlying futures                                                                   to underlying's first   settlement price on                                           1 CFD = 10,000
                       ZLxx                                                8%         Sundays open 18:00      May, Jul, Aug,                                                     1 / 250    0.01        USD                               7/6/2011
     Futures                                bid/offer                                                                          notice date at 13:15       GFT last day of                                                  lbs
                                                                                      ET-1, Fridays close     Sep, Oct, Dec
                                                                                                                                      ET-1.                   dealing
                                                                                          13:15 ET-1
                                                                                      09:30 - 13:15 ET-1;
                                                                                       18:00 - 07:15 ET-1                      1 Business day prior       Official CBOT
                                                                                                               Jan, Mar,
   US Soybeans                      2 plus underlying futures                                                                   to underlying's first   settlement price on                                            1 CFD = 400
                       ZSxx                                                8%         Sundays open 18:00      May, Jul, Aug,                                                     1 / 250    0.25        USD                               7/6/2011
     Futures                        bid/offer (tick factor 0.25)                                                               notice date at 13:15       GFT last day of                                                bushels
                                                                                      ET-1, Fridays close       Sep, Nov
                                                                                                                                      ET-1.                   dealing
                                                                                          13:15 ET-1
                                                                                                                                                             Official ICE
                                                                                       01:30 - 14:00 ET                        1 Business day prior
                                                                                                                                                         settlement price of
  US Sugar No. 11               0.06 (i.e. 6 with trade per 0.01) +                     (during non-US          Mar, May,       to underlying's last                                                                  1 CFD = 10,000
                       SBxx                                                8%                                                                           Sugar No.11 Futures      1 / 100    0.01        USD                              10/2/2012
      Futures                           underlying bid/offer                          DST), 02:30 - 14:00       July, Oct       trade date at 13:30                                                                        LBS
                                                                                                                                                        on GFTs last day of
                                                                                      ET (during US DST)                                ET.
                                                                                                                                                               dealing
                                                                                      09:30 - 13:15 ET-1;
                                                                                       18:00 - 07:15 ET-1                      1 Business day prior       Official CBOT
                                    2 plus underlying futures                                                 Mar, May, Jul,    to underlying's first   settlement price on                                            1 CFD= 100
 US Wheat futures     ZWxx                                                 8%         Sundays open 18:00                                                                         1 / 250    0.25        USD                               7/6/2011
                                    bid/offer (tick factor 0.25)                                               Sep, Dec        notice date at 13:15       GFT last day of                                                bushels
                                                                                      ET-1, Fridays close                             ET-1.                   dealing
                                                                                          13:15 ET-1

                                   Near month: 0.05 (i.e. 5 with
                                 trade per 0.01) (09:00 to 14:30                       18:00 - 17:15 ET.                       1 Business day prior       Official NYMEX
   WTI Crude Oil                    ET) *market spread will be                          Sunday open at                          to underlying's last    settlement price on                                            1 CFD = 100
                       CLxx                                                2%                                    Monthly                                                         1 / 100    0.01        USD                               7/6/2011
     Futures                     added outside these times Far                          18:00 ET, Friday                        trade date at 14:30      GFTs last day of                                                 barrels
                                  month: market spread + 0.05                          close at 17:00 ET.                               ET.                    dealing
                                   (i.e. + 5 with trade per 0.01)



CFD Commodities (spot metals)
                                                                         IM Factor                              Basis of                                                                    Equivalent Underlying           Last
    Commodity        Symbol                  Spread                                     Trading Hours                           Min / Max Size            † Tick Factor        Currency
                                                                       (Margin Req)                            Settlement                                                                         Quantity                 Update
                                                                                                                BBA USD
                                                                                        18:00 - 17:15 ET
                                  0.5 (i.e. 5 with tick factor per                                                LIBOR
     Spot Gold        .GOLD                                                1%         (i.e. 24 hours with a                          1 / 500                   0.1               USD        1 CFD = 10 troy ounces        9/8/2009
                                                0.1)                                                          overnight rate
                                                                                        45 minute break)
                                                                                                               at 17:00 ET
                                                                                                                BBA USD
                                                                                        18:00 - 17:15 ET
                                 0.5 (i.e. 0.5 with tick factor per                                               LIBOR
  Spot Mini Gold     .MGOLD                                                1%         (i.e. 24 hours with a                           1 / 50                    1                USD         1 CFD = 1 troy ounce        15/04/2011
                                                1.0)                                                          overnight rate
                                                                                        45 minute break)
                                                                                                               at 17:00 ET
                                                                                                                BBA USD
                                                                                        18:00 - 17:15 ET
                                                                                                                  LIBOR
  Spot Mini Silver   .MSILVER   3 (i.e. 3 with tick factor per 1.0)        1%         (i.e. 24 hours with a                           1 / 25                    1                USD       1 CFD = 100 troy ounces       29/12/2011
                                                                                                              overnight rate
                                                                                        45 minute break)
                                                                                                               at 17:00 ET
                                                                                                                BBA USD
                                                                                        18:00 - 17:15 ET
                                                                                                                  LIBOR
    Spot Silver      .SILVER    3 (i.e. 30 with tick factor per 0.1)       1%         (i.e. 24 hours with a                          1 / 250                   0.1               USD       1 CFD = 1000 troy ounces       9/8/2009
                                                                                                              overnight rate
                                                                                        45 minute break)
                                                                                                               at 17:00 ET




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CFD Commodities (spot oil)
                                                                      IM Factor                                  Basis of                                                                     Equivalent Underlying     Last
    Commodity       Symbol                 Spread                                       Trading Hours                               Min / Max Size              † Tick Factor     Currency
                                                                    (Margin Req)                                Settlement                                                                          Quantity           Update
                                                                                        20:00 - 18:00
                                                                                        (Friday closes          n/a - Please
                                                                                      17:00) ET; Sunday        see below for
                                                                                       opens 18:00 ET          details of how
                                                                                                               positions are
                                                                                        One trading day
                                    5 (09:00 to 14:30 ET);                                                      adjusted on
                                                                                     prior to the expiry of
 Spot Brent Crude                 Underlying futures market                                                      the trading
                    .BRENT                                               2%           the underlying ICE                                 1 / 100                     1              USD         1 CFD = 100 barrels   15/04/2011
        Oil                    bid/ask spread will be added to                                                  day prior to
                                                                                        futures contract,
                               GFT spread outside these times                                                     the expiry
                                                                                       trading ceases at
                                                                                                                 date of the
                                                                                          14:30 ET and
                                                                                                                 underlying
                                                                                       recommences at
                                                                                                                ICE futures
                                                                                        20:00 ET for the
                                                                                                                   contract.
                                                                                       next trading day.

                                                                                                                n/a - Please
                                                                                                               see below for
                                                                                      18:00 - 17:15 ET.
                                                                                                               details of how
                                                                                       Sunday open at
                                                                                                               positions are
                                                                                       18:00 ET, Friday
                               0.05 (i.e. 5 with trade per 0.01)                                                adjusted on
                                                                                      close at 17:00 ET.
                               (09:00 to 14:30 ET); Underlying                                                   the trading
  Spot WTI Light                                                                       One trading day
                     .WTI       futures market bid/ask spread            2%                                     day prior to             1 / 100                    0.01            USD         1 CFD = 100 barrels   15/04/2011
    Crude Oil                                                                         prior to GFT's last
                                 will be added to GFT spread                                                      the expiry
                                                                                     dealing day, trading
                                       outside these times                                                       date of the
                                                                                     ceases at 14:30 ET
                                                                                                                 underlying
                                                                                     and recommences
                                                                                                                   NYMEX
                                                                                         at 18:00 ET
                                                                                                                    futures
                                                                                                                   contract.




CFD Bonds (Futures)
                                                                     IM Factor                            Contract        Last Dealing              Basis of         Min / Max      Tick                   Example
     Bond             Symbol                   Spread                              Trading Hours                                                                                             Currency                 Last Update
                                                                   (Margin Req)                           Months              Day                  Settlement          Size       Factor†                 Price
                                                                                     UK 07:00 -                         1 Business day            EUREXâ„¢
                                        0.04 (i.e. 4 with trade
  BTP Italian                                                                          18:00                                prior to          official settlement
                                           per 0.01) plus                                                 Mar, Jun,
  Government          FBTPxx                                          0.025                                             underlying's last       price on GFTs         1 / 500       0.01       EUR          100.11    23/09/2011
                                         underlying futures                         Local 08:00 -         Sep, Dec
    Bonds                                                                                                                trade date at            last day of
                                               bid/offer                               19:00
                                                                                                                          19:00 CET.                dealing.
                                                                                   UK 7:00 - 21:00                      1 Business day
                                                                                                                                                EUREX official
                                                                                                                            prior to
   Euro Bund                            0.03 (i.e. 3 with trade                                           Mar, Jun.                            settlement price
                      FGBLxx                                           1%            Local 8:00 -                       underlying's last                             1 / 500       0.01       EUR          123.83     8/6/2011
    Futures                                   per 0.01)                                                   Sep, Dec                            on GFTs last day
                                                                                        22:00                            trade date at
                                                                                                                                                  of dealing
                                                                                                                          17:15 CET.
                                                                                   UK 7:00 - 21:00                      1 Business day
                                                                                                                                                EUREX official
                                                                                                                            prior to
                                           0.015 (i.e. 3 with                                             Mar, Jun.                            settlement price
   Euro-BOBL          FGBMxx                                           1%            Local 8:00 -                       underlying's last                             1 / 500      0.005       EUR          116.545    8/6/2011
                                           trade per 0.005)                                               Sep, Dec                            on GFTs last day
                                                                                        22:00                            trade date at
                                                                                                                                                  of dealing
                                                                                                                          17:15 CET.
                                                                                   UK 7:00 - 21:00                      1 Business day
                                                                                                                                                EUREX official
                                                                                                                            prior to
                                        0.01 (i.e. 2 with trade                                           Mar, Jun.                            settlement price
  Euro-SCHATZ         FGBSxx                                           1%            Local 8:00 -                       underlying's last                             1 / 500      0.005       EUR          108.305    8/6/2011
                                             per 0.005)                                                   Sep, Dec                            on GFTs last day
                                                                                        22:00                            trade date at
                                                                                                                                                  of dealing
                                                                                                                          17:15 CET.
                                                                                                                                               SGX Mini JGB
                                                                                                                        Underlying’s
     Japan                                                                                                                                    official settlement
                                                                                   07:45 – 17:10        Mar, Jun,     last trade date at
   Government          JGBxx                       8                   2%                                                                           price on         1 / 50,000     0.01       JPY          136.71    23/09/2011
                                                                                   Singapore time         Sep, Dec      14:10 Singapore
  Bonds Futures                                                                                                                                GFT’s last
                                                                                                                               Time
                                                                                                                                                  dealing day
                                                                                                                        1 Business day
                                                                                                                                               Euronext.LIFFE
                                                                                                                            prior to
                                                                                                                                              official settlement
                                        0.03 (i.e. 3 with trade                    8:00 - 18:00 UK        Mar, Jun.     underlying's first
 UK Gilt Futures       FLGxx                                           2%                                                                       price on GFTs         1 / 500       0.01       GBP          109.54     8/6/2011
                                              per 0.01)                                  Time             Sep, Dec       notice date at
                                                                                                                                                  last day of
                                                                                                                         16:15 London
                                                                                                                                                    dealing
                                                                                                                             Time.
                                                                                                                        1 Business day
                                                                                                                                                CBOT official
    US 10 YR                                                                                                                prior to
                                        0.06 (i.e. 6 with trade                    17:00-16:00 ET-        Mar, Jun,                            settlement price
  Treasury Note        TYxx                                            2%                                               underlying's first                            1 / 500       0.01       USD          124.27    20/11/2011
                                              per 0.01)                                   1               Sep, Dec                            on GFTs last day
  (decimalised)                                                                                                          notice date at
                                                                                                                                                  of dealing
                                                                                                                          14:00 ET-1.




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                                                                                                                                                                                                                                                           Page 47 of 51
                                                                                                                            1 Business day
                                                                                                                                                    CBOT official
    US 2 YR                                                                                                                     prior to
                                           0.06 (i.e. 6 with trade                    17:00-16:00 ET-     Mar, Jun,                                settlement price
  Treasury Note             TUxx                                            2%                                              underlying's first                           1 / 500           0.01            USD              108.93   20/11/2011
                                                 per 0.01)                                   1            Sep, Dec                                on GFTs last day
  (decimalised)                                                                                                              notice date at
                                                                                                                                                      of dealing
                                                                                                                              14:00 ET-1.
                                                                                                                            1 Business day
                                                                                                                                                    CBOT official
    US 5 YR                                                                                                                     prior to
                                           0.06 (i.e. 6 with trade                    17:00-16:00 ET-     Mar, Jun,                                settlement price
  Treasury Note             FVxx                                            2%                                              underlying's first                           1 / 500           0.01            USD              118.81   20/11/2011
                                                 per 0.01)                                   1            Sep, Dec                                on GFTs last day
  (decimalised)                                                                                                              notice date at
                                                                                                                                                      of dealing
                                                                                                                              14:00 ET-1.
                                                                                                                            1 Business day
                                                                                                                                                    CBOT official
   US T-Bond                                                                                                                    prior to
                                           0.06 (i.e. 6 with trade                    17:00-16:00 ET-     Mar, Jun.                                settlement price
     Futures                USxx                                            2%                                              underlying's first                           1 / 500           0.01            USD              129.57   20/11/2011
                                                 per 0.01)                                   1            Sep, Dec                                on GFTs last day
  (decimalised)                                                                                                              notice date at
                                                                                                                                                      of dealing
                                                                                                                              14:00 ET-1.


CFD Interest Rates
                                        IM Factor
  Interest                                                                               Contract        Last Dealing              Basis of          Min /          Tick                          Example         Last
                  Symbol    Spread       (Margin               Trading Hours                                                                                                       Currency
    Rate                                                                                 Months              Day                  Settlement        Max Size      Factor†                        Price         Update
                                          Req)

                                                          08:34 - 16:30 and 17:14 -
                                                             07:00 Sydney time
                                                         (Saturday close 07:00) (US
                              2+                            daylight saving time)                       Underlying's last        Official SFE
 Australia
                           underlying                                                                    trade date at         settlement price
  30 Day          2YIBxx                 0.20%                                           Monthly                                                     1 / 500          0.01           AUD          92.705         8/6/2011
                            futures                                                                      16:30 Sydney           on GFTs last
 Interbank                                                08:34 - 16:30 and 17:14 -
                            spread                                                                           time.              day of dealing
                                                             07:30 Sydney time
                                                         (Saturday close 07:30) (US
                                                          non daylight saving time)




                                                                                                                                 NYSE Liffe
                                                                                                        Underlying's last       London official
  Euribor                                                                             Mar, Jun. Sep,     trade date at            Exchange
                  FEIxx        3         0.25%                  07:00 - 21:00                                                                        1 / 500          0.01           EUR          99.248         8/6/2011
  Futures                                                                                  Dec           10:00 London              Delivery
                                                                                                             Time.               Settlement
                                                                                                                                Price (EDSP)




                                                              UK 23:00 - 22:00
                                                                                                        Underlying's last        CME official
 Eurodollar                                                                           Mar, Jun. Sep,     trade date at         settlement price
                   EDxx        3         0.20%                                                                                                       1 / 500          0.01           USD           95.5          8/6/2011
  Futures                                                                                  Dec           11:00 London           on GFTs last
                                                             Local 17:00 - 16:00                             Time.              day of dealing




                                                                                                        Underlying's last
   Short                                                                                                                       Euronext.LIFFE
                                                                                      Mar, Jun. Sep,     trade date at
  Sterling                     2         0.20%                   7:30 - 18:00                                                       official         1 / 500          0.01           GBP           95.5      15/06/2011
                                                                                           Dec           11:00 London
  Futures                                                                                                                      settlement price
                                                                                                             Time.




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CFD FX
                                                                               Guaranteed Stops
           Spread as     IM Factor    GFT Trading                   Example
 Symbol                                             Tick Factor††               (charge / min.    Last Update
            low as†    (Margin Req)     Hours                        Price
                                                                                  distance)
 AUD/CAD      2            1%           24-hour        0.0001       0.90895                       27/03/2012
 AUD/CHF      2            1%           24-hour        0.0001       0.95165                       27/03/2012
 AUD/CZK      20           0.01         24-hour        0.001        18.1025                       27/03/2012
 AUD/DKK      23           0.01         24-hour        0.0001       5.53115                       27/03/2012
 AUD/HKD      29           1%           24-hour        0.0001       4.98035                       27/03/2012
 AUD/JPY      1.4          0.01         24-hour         0.01         59.815         4 / 50        27/03/2012
 AUD/NOK      40           0.01         24-hour        0.0001       5.81925                       27/03/2012
 AUD/NZD      6            1%           24-hour        0.0001       1.21425         6 / 50        27/03/2012
 AUD/PLN      23           0.01         24-hour        0.0001       2.87695                       27/03/2012
 AUD/SEK      40           0.01         24-hour        0.0001       6.63105                       27/03/2012
 AUD/SGD      5            1%           24-hour        0.0001       0.98395                       27/03/2012
 AUD/USD      0.8          1%           24-hour        0.0001       0.64185         3 / 40        27/03/2012
 AUD/ZAR      65           0.01         24-hour        0.0001       6.87205                       27/03/2012
 CAD/CHF      2            1%           24-hour        0.0001       0.96965                       27/03/2012
 CAD/DKK      23           0.01         24-hour        0.0001       5.60255                       27/03/2012
 CAD/HKD      26           1%           24-hour        0.0001       7.73135                       27/03/2012
 CAD/JPY      3            1%           24-hour         0.01         74.025         5 / 50        27/03/2012
 CAD/NOK      35           0.01         24-hour        0.0001       5.89155                       27/03/2012
 CAD/PLN      24           0.01         24-hour        0.0001       2.91335                       27/03/2012
 CAD/SEK      45           0.01         24-hour        0.0001       6.71305                       27/03/2012
 CAD/SGD      8            0.01         24-hour        0.0001       1.29495                       27/03/2012
 CHF/CZK      26           0.01         24-hour        0.001        18.9175                       27/03/2012
 CHF/DKK      22           0.01         24-hour        0.0001       5.79415                       27/03/2012
 CHF/HKD      24           0.01         24-hour        0.0001       8.12605                       27/03/2012
 CHF/HUF      20           0.01         24-hour         0.01        212.315                       27/03/2012
 CHF/JPY      2            1%           24-hour         0.01         76.245         3 / 100       27/03/2012
 CHF/NOK      45           1%           24-hour        0.0001       4.99355                       27/03/2012
 CHF/PLN      24           1%           24-hour        0.0001       2.96415                       27/03/2012
 CHF/SEK      45           1%           24-hour        0.0001       5.49215                       27/03/2012
 CHF/SGD      6            0.01         24-hour        0.0001       1.33935                       27/03/2012
 CHF/TRY      13           1%           24-Hour        0.0001       1.47755                       27/03/2012
 CHF/ZAR      60           0.01         24-hour        0.0001       7.19905                       27/03/2012
 CZK/HUF     200           0.01         24-hour        0.0001       11.18205                      27/03/2012
 CZK/JPY      70           0.01         24-hour        0.0001       4.55505                       27/03/2012
 DKK/CZK      8            0.01         24-hour        0.001         3.2605                       27/03/2012
 DKK/HUF      8            0.01         24-hour         0.01         36.555                       27/03/2012
 DKK/JPY      85           0.01         24-hour        0.0001       14.88755                      27/03/2012
 DKK/PLN      44           0.01         24-hour       0.00001       0.519285                      27/03/2012
 DKK/SEK      8.5          0.01         24-hour        0.0001       1.19725                       27/03/2012
 DKK/SGD      2.3          0.01         24-hour        0.0001       0.23115                       27/03/2012
 DKK/ZAR     100           0.01         24-hour       0.00001       1.242205                      27/03/2012
 EUR/AUD      1            1%           24-hour        0.0001       5.02885         8 / 75        27/03/2012
 EUR/CAD      2            1%           24-hour        0.0001       1.40425         8 / 50        27/03/2012
 EUR/CHF      1            1%           24-hour        0.0001       1.57085         3 / 65        27/03/2012
 EUR/CZK      32           1%           24-hour        0.001        28.0315                       27/03/2012
 EUR/DKK      22           0.01         24-hour        0.0001       7.45115                       27/03/2012
 EUR/GBP      1            1%           24-hour        0.0001       0.68445         3 / 30        27/03/2012
 EUR/HKD      25           1%           24-hour        0.0001       9.92565                       27/03/2012
 EUR/HUF      20           1%           24-hour         0.01         260.75                       27/03/2012
 EUR/JPY      1            1%           24-hour         0.01        144.465         3 / 75        27/03/2012
EUR/MXN       75           1%           24-hour        0.0001       16.56355                      27/03/2012
 EUR/NOK      35           1%           24-hour        0.0001       7.79875                       27/03/2012
 EUR/NZD      6            1%           24-hour        0.0001       2.37725         12 / 75       27/03/2012
 EUR/PLN      25           1%           24-hour        0.0001       3.84565                       27/03/2012
                                                                                                                PDS - CFD AND FOREX (Aus English): 3/30/2012
                                                                                                                                               Revision: 007
                                                                                                                                              Page 49 of 51
                                                                              Guaranteed Stops
          Spread as     IM Factor    GFT Trading                   Example
Symbol                                             Tick Factor††               (charge / min.    Last Update
           low as†    (Margin Req)     Hours                        Price
                                                                                 distance)
EUR/RON      45           1%           24-hour        0.0001       4.13055                       27/03/2012
EUR/RUB      2.1          0.01         24-hour         0.01         39.985                       27/03/2012
EUR/SEK      42           1%           24-hour        0.0001       9.34415                       27/03/2012
EUR/SGD      6            0.01         24-hour        0.0001       1.72245                       27/03/2012
EUR/TRY      13           1%           24-Hour        0.0001       1.97105                       27/03/2012
EUR/USD      0.8          1%           24-hour        0.0001       1.22465         3 / 50        27/03/2012
EUR/ZAR      70           1%           24-hour        0.0001       7.71975                       27/03/2012
GBP/AUD      4            1%           24-hour        0.0001       2.41315        12 / 100       27/03/2012
GBP/CAD      2            1%           24-hour        0.0001       2.05265         10 / 85       27/03/2012
GBP/CHF      2            1%           24-hour        0.0001       2.27625         5 / 100       27/03/2012
GBP/CZK      28           0.01         24-hour        0.001        29.0065                       27/03/2012
GBP/DKK      30           1%           24-hour        0.0001       8.46755                       27/03/2012
GBP/HKD      33           0.01         24-hour        0.0001       12.44915                      27/03/2012
GBP/HUF      30           1%           24-hour         0.01        380.945                       27/03/2012
GBP/JPY      2            1%           24-hour         0.01        207.115         5 / 100       27/03/2012
GBP/NOK      45           1%           24-hour        0.0001       11.29775                      27/03/2012
GBP/NZD      6            1%           24-hour        0.0001       2.77425        20 / 100       27/03/2012
GBP/PLN      35           1%           24-hour        0.0001       5.61755                       27/03/2012
GBP/SEK      55           1%           24-hour        0.0001       13.45845                      27/03/2012
GBP/SGD      8            1%           24-hour        0.0001       2.92245                       27/03/2012
GBP/TRY      16           1%           24-Hour        0.0001       2.23855                       27/03/2012
GBP/USD      0.8          1%           24-hour        0.0001       1.86565         3 / 75        27/03/2012
GBP/ZAR      90           1%           24-Hour        0.0001       13.96765                      27/03/2012
HKD/JPY     110           1%           24-hour        0.0001       15.02285                      27/03/2012
MXN/JPY      65           1%           24-hour        0.0001        7.6345                       27/03/2012
NOK/DKK      13           0.01         24-hour        0.0001       0.95015                       27/03/2012
NOK/JPY     140           1%           24-hour        0.0001       14.14155                      27/03/2012
NOK/SEK      15           1%           24-hour        0.0001       1.19295                       27/03/2012
NZD/CAD      2            1%           24-hour        0.0001       0.71065                       27/03/2012
NZD/CHF      2            1%           24-hour        0.0001       0.76725                       27/03/2012
NZD/CZK      20           0.01         24-hour        0.001        13.9715                       27/03/2012
NZD/DKK      26           1%                          0.0001       4.05105                       27/03/2012
NZD/HKD      33           0.01         24-hour        0.0001       6.00265                       27/03/2012
NZD/HUF      21           0.01         24-hour         0.01        156.935                       27/03/2012
NZD/JPY      3            1%           24-hour         0.01         69.865                       27/03/2012
NZD/PLN      22           0.01         24-hour        0.0001       2.22595                       27/03/2012
NZD/SEK      45           1%           24-hour        0.0001       4.73725                       27/03/2012
NZD/SGD      7            1%           24-hour        0.0001       1.00315                       27/03/2012
NZD/USD      0.8          1%           24 hour        0.0001       0.53335         3 / 30        27/03/2012
NZD/ZAR      60           0.01         24-hour        0.0001       5.32705                       27/03/2012
PLN/CZK      70           0.01         24-hour        0.0001       6.279555                      27/03/2012
PLN/HUF      70           0.01         24-hour        0.001        70.2555                       27/03/2012
PLN/JPY     310           1%           24-hour        0.0001       27.2355                       27/03/2012
SEK/JPY     125           0.01         24-hour        0.0001       12.44955                      27/03/2012
SEK/PLN      75           0.01         24-hour       0.00001       0.520085                      27/03/2012
SGD/HKD      25           0.01         24-hour        0.0001       6.06235                       27/03/2012
SGD/JPY      4            1%           24-hour         0.01         72.355                       27/03/2012
TRY/JPY     400           1%           24-Hour        0.0001       57.80005                      27/03/2012
USD/AED      15           1%           24-hour        0.0001       3.67195                       27/03/2012
USD/CAD      2            1%           24-hour        0.0001       1.10035         3 / 40        27/03/2012
USD/CHF      0.8          1%           24-hour        0.0001       1.22015         3 / 50        27/03/2012
USD/CZK      22           1%           24-hour        0.001        20.2855                       27/03/2012
USD/DKK      20           1%           24-Hour        0.0001       6.13095                       27/03/2012
USD/HKD      20           1%           24-hour        0.0001       7.77565                       27/03/2012
USD/HUF      20           1%           24-hour         0.01        215.455                       27/03/2012

                                                                                                               PDS - CFD AND FOREX (Aus English): 3/30/2012
                                                                                                                                              Revision: 007
                                                                                                                                             Page 50 of 51
                                                                                              Guaranteed Stops
               Spread as      IM Factor     GFT Trading                           Example
  Symbol                                                        Tick Factor††                  (charge / min.         Last Update
                low as†     (Margin Req)      Hours                                Price
                                                                                                 distance)
 USD/ILS          50            0.01             24-hour           0.0001         3.53425                              27/03/2012
 USD/JPY          0.8           1%               24-hour            0.01          118.865           3 / 50             27/03/2012
 USD/MXN          15            1%               24-hour           0.0001         11.01395                             27/03/2012
 USD/NOK          33            1%               24-Hour           0.0001         6.13095                              27/03/2012
 USD/PLN          21            1%               24-Hour           0.0001         2.82445                              27/03/2012
 USD/RON          40            1%               24-hour           0.0001         3.04235                              27/03/2012
 USD/RUB          2             0.01             24-hour            0.01           29.845                              27/03/2012
 USD/SAR          15            0.01             24-hour           0.0001         3.74955                              27/03/2012
 USD/SEK          35            1%               24-hour           0.0001         7.33395                              27/03/2012
 USD/SGD          5             1%               24-hour           0.0001         1.56885                              27/03/2012
 USD/TRY         11.5           1%               24-Hour           0.0001         1.52075                              27/03/2012
 USD/ZAR          60            1%               24-Hour           0.0001         7.05215                              27/03/2012
 ZAR/JPY         250            1%               24-hour           0.0001         15.76195                             27/03/2012


CFD Inflation Rates - Futures


  Inflation                                           IM Factor        Trading                                                                                            Min / Max   Example    Tick                  Underlying
                  Symbol           Spread                                              Contract Months           Last Dealing Day            Basis of Settlement                                         Currency                        Last Update
    Rate                                            (Margin Req)        Hours                                                                                               Size       Price    Factor                   Index


                                                                                                                                          Eurostat official release for
                                                                                                                                                                           1 / 25
                                                                                                             Variable. Data is released      Eurozone HICP (EU-
                                                                                                                                                                            (max
                                                                                                             one month retrospectively,    harmonized, year-on-year
                                                                                      Near month plus                                                                     account                                       Eurostat
  HICP Euro                   5 near month; 10                         08:00 -                                e.g. September year-on-       non-seasonally adjusted
                 HICPEUxx                                  5%                        month ending next 2                                                                  position     1.65      0.01      EUR          Eurozone          21/04/2009
   Inflation                    other months                          16:30 CET                               year data is released in     percentage change in the
                                                                                          quarters                                                                        25 euros                                       HICP
                                                                                                             October. Last dealing day     index). Data revisions are
                                                                                                                                                                             per
                                                                                                                 time is 09:30 CET.            disregarded. See
                                                                                                                                                                          account)
                                                                                                                                          www.ec.europa.eu/eurostat



                                                                                                                                          Office of National Statistics
                                                                                                             Variable. Data is released   official release for UK CPI      1 / 25
                                                                       08:00 -                               one month retrospectively,   (EU-harmonized, year-on-          (max
     UK                                                                               Near month plus                                                                                                                  Consumer
                              5 near month; 10                          16:30                                  e.g. September year-on-        year non-seasonally         account
 Consumer         CPIUKxx                                  5%                        month ending next 2                                                                               4.55      0.01      GBP         Price Index        21/04/2009
                                other months                           London                                  year data is released in      adjusted percentage          position
 Price Index                                                                              quarters                                                                                                                        (CPI)
                                                                         time                                 October. Last dealing day   change in the index). Data      £25 per
                                                                                                             time is 09:00 London time.   revisions are disregarded.      account)
                                                                                                                                          See www.statistics.gov.uk




                                                                                                                                                                                                             PDS - CFD AND FOREX (Aus English): 3/30/2012
                                                                                                                                                                                                                                            Revision: 007
                                                                                                                                                                                                                                           Page 51 of 51

				
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