Citadel Securities FIMM Sales and Trading Disclosures

IMPORTANT NOTICE

GENERAL DISCLAIMER

THIS MATERIAL AND ITS CONTENTS (COLLECTIVELY, THIS “MATERIAL”) IS FOR INFORMATIONAL PURPOSES ONLY AND MAY CHANGE AT ANY TIME FOR ANY REASON AND WITHOUT NOTICE. THIS MATERIAL IS STRICTLY CONFIDENTIAL, CONTAINS CITADEL PROPRIETARY INFORMATION OR OTHER INFORMATION PROTECTED BY INTELLECTUAL PROPERTY LAWS, AND MAY NOT BE DISCLOSED TO ANY PERSONS OTHER THAN THOSE FOR WHOM IT IS INTENDED. THIS MATERIAL MUST NOT BE COPIED, DISTRIBUTED, OR REDISTRIBUTED, IN WHOLE OR IN PART, WITHOUT THE PRIOR WRITTEN CONSENT OF CITADEL LLC.

THIS MATERIAL DOES NOT CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT.

THIS MATERIAL DOES NOT CONSTITUTE OR FORM PART OF ANY INVITATION, SOLICITATION OR INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY. IT IS EMPHASISED THAT THIS MATERIAL IS BEING SENT TO YOU IN RELIANCE UPON YOUR ACKNOWLEDGEMENT AND ACCEPTANCE THAT THIS MATERIAL IS BEING SOLELY MADE TO AND DIRECTED AT PERSONS WHO ARE EITHER PROFESSIONAL CLIENTS OR ELIGIBLE COUNTERPARTIES AS THOSE EXPRESSIONS ARE DEFINED IN THE MARKETS IN FINANCIAL INSTRUMENTS DIRECTIVE (2014/65/EU).

THIS MATERIAL MUST NOT BE ACTED UPON BY PERSONS WHO ARE NOT PROFESSIONAL CLIENTS OR ELIGIBLE COUNTERPARTIES AND ANY RECIPIENT OF THIS MATERIAL WHO IS NOT SUCH A PERSON, SHOULD TAKE NO FURTHER ACTION. THIS MATERIAL DOES NOT CONSTITUTE A RECOMMENDATION REGARDING ANY FINANCIAL INSTRUMENT AND MUST NOT FORM THE BASIS FOR OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR INVESTMENT DECISION.

THIS MATERIAL MAY CONSTITUTE AN INVITATION TO CONSIDER ENTERING INTO DERIVATIVES TRANSACTIONS UNDER CFTC RULES 1.71 AND 23.605 BUT IN NO CASE SERVES AS A BINDING OFFER TO BUY OR SELL ANY INSTRUMENT OR ENTER INTO ANY TRANSACTION.

IN THE U.S., SWAPS ACTIVITY IS CONDUCTED BY CITADEL SECURITIES SWAP DEALER LLC, SECURITIES ACTIVITY WITH BROKER-DEALERS AND FX ACTIVITY UNDER THE FX GLOBAL CODE ARE CONDUCTED BY CITADEL SECURITIES LLC (MEMBER FINRA AND SIPC), AND SECURITIES ACTIVITY WITH NON-BROKER-DEALERS IS CONDUCTED BY CITADEL SECURITIES INSTITUTIONAL LLC (MEMBER FINRA AND SIPC).

IN THE U.K., SWAPS ACTIVITY IS CONDUCTED BY CITADEL SECURITIES (EUROPE) LIMITED. CITADEL SECURITIES (EUROPE) LIMITED IS AUTHORISED BY THE FINANCIAL CONDUCT AUTHORITY UNDER REGISTRATION NUMBER 447450. FOR RECIPIENTS IN THE UK, THE CONTENT OF THIS MATERIAL HAS NOT BEEN APPROVED BY AN AUTHORISED PERSON AS A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FSMA). IF YOU ARE CONSIDERING  ENGAGING IN ANY INVESTMENT ACTIVITY, YOU SHOULD SEEK APPROPRIATE INDEPENDENT FINANCIAL ADVICE AND MAKE YOUR OWN ASSESSMENT.

FOR RECIPIENTS IN ASIA, NEITHER THE PROVISION OF THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED THEREIN SHALL CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT, NOR DOES THE DOCUMENT CONSTITUTE OR FORM PART OF ANY ADVICE, INVITATION, SOLICITATION OR INDUCEMENT TO ENGAGE IN ANY INVESTMENT ACTIVITY EXCEPT AS PERMITTED UNDER THE RELEVANT LOCAL LAWS AND REGULATIONS.

CITADEL SECURITIES DOES NOT PROVIDE TAX, ACCOUNTING, OR LEGAL ADVICE AND, ACCORDINGLY, THE INFORMATION PROVIDED HEREIN DOES NOT CONSTITUTE, AND SHOULD NOT BE CONSTRUED AS, SUCH. PLEASE CONSULT YOUR OWN TAX, ACCOUNTING, OR LEGAL ADVISORS.

ALL TRADEMARKS, SERVICE MARKS AND LOGOS USED IN THIS MATERIAL ARE TRADEMARKS OR SERVICE MARKS OR REGISTERED TRADEMARKS OR REGISTERED SERVICE MARKS OF CITADEL ENTERPRISE AMERICAS LLC.

ASIA

SOUTH KOREA

NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED IN IT SHALL CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT EXCEPT AS PERMITTED UNDER THE LAWS OF THE REPUBLIC OF KOREA.

HONG KONG

FOR RECIPIENTS IN HONG KONG, THE PROVISION OF THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED THEREIN SHALL CONSTITUTE AN OFFER, SOLICITATION, INVITATION, ADVICE OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT, NOR DOES THE DOCUMENT CONSTITUTE OR FORM PART OF ANY INVITATION, ADVICE, SOLICITATION OR INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY EXCEPT AS PERMITTED UNDER THE HONG KONG SECURITIES AND FUTURES ORDINANCE (CAP571).

JAPAN

FOR RECEIPIENTS IN JAPAN, THE PROVISION OF THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED THEREIN SHALL CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT, NOR DOES THE DOCUMENT CONSTITUTE OR FORM PART OF ANY INVITATION, SOLICITATION OR INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY EXCEPT AS PERMITTED UNDER THE FINANCIAL INSTRUMENTS AND EXCHANGE LAW OF JAPAN (LAW NO. 25 OF 1948, AS AMENDED).

PRC

NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED IN IT SHALL CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT EXCEPT AS PERMITTED UNDER THE LAWS OF THE PEOPLE’S REPUBLIC OF CHINA.

SINGAPORE

IN SINGAPORE, THE INFORMATION CONTAINED IN THIS DOCUMENT IS INTENDED EXCLUSIVELY FOR USE BY PERSONS WHO QUALIFY AS INSTITUTIONAL INVESTORS AND/OR ACCREDITED INVESTORS (EACH AS DEFINED IN SECTION 4A OF THE SECURITIES AND FUTURES ACT (CHAPTER 289 OF SINGAPORE) (“SFA”)). IT IS NOT INTENDED FOR USE BY RETAIL INVESTORS. CITADEL DOES NOT CONDUCT ANY ACTIVITIES REGULATED IN SINGAPORE.

DISCLAIMER IN RELATION TO ANY PRODUCTS CONSTITUTING SECURITIES UNDER THE SFA:

THIS DOCUMENT HAS NOT BEEN REGISTERED AS A PROSPECTUS WITH THE MONETARY AUTHORITY OF SINGAPORE. ACCORDINGLY, THIS DOCUMENT AND ANY OTHER DOCUMENT OR MATERIAL IN CONNECTION WITH THE OFFER OR SALE, OR INVITATION FOR SUBSCRIPTION OR PURCHASE, OF ANY SECURITIES MAY NOT BE CIRCULATED OR DISTRIBUTED, NOR MAY ANY SECURITIES BE OFFERED OR SOLD, OR BE MADE THE SUBJECT OF AN INVITATION FOR SUBSCRIPTION OR PURCHASE, WHETHER DIRECTLY OR INDIRECTLY, TO PERSONS IN SINGAPORE OTHER THAN (I) TO AN INSTITUTIONAL INVESTOR UNDER SECTION 274 OF THE SFA, (II) TO A RELEVANT PERSON PURSUANT TO SECTION 275(1), OR ANY PERSON PURSUANT TO SECTION 275(1A), AND IN ACCORDANCE WITH THE CONDITIONS SPECIFIED IN SECTION 275, OF THE SFA, OR (III) OTHERWISE PURSUANT TO, AND IN ACCORDANCE WITH THE CONDITIONS OF, ANY OTHER APPLICABLE PROVISION OF THE SFA.

WHERE SECURITIES ARE SUBSCRIBED OR PURCHASED UNDER SECTION 275 OF THE SFA BY A RELEVANT PERSON WHICH IS:

  1. A CORPORATION (WHICH IS NOT AN ACCREDITED INVESTOR (AS DEFINED IN SECTION 4A OF THE SFA)) THE SOLE BUSINESS OF WHICH IS TO HOLD
    INVESTMENTS AND THE ENTIRE SHARE CAPITAL OF WHICH IS OWNED BY ONE OR MORE INDIVIDUALS, EACH OF WHOM IS AN ACCREDITED INVESTOR; OR
  2. A TRUST (WHERE THE TRUSTEE IS NOT AN ACCREDITED INVESTOR) WHOSE SOLE PURPOSE IS TO HOLD INVESTMENTS AND EACH BENEFICIARY OF THE TRUST IS AN INDIVIDUAL WHO IS AN ACCREDITED INVESTOR,

SECURITIES (AS DEFINED IN SECTION 239(1) OF THE SFA) OF THAT CORPORATION OR THE BENEFICIARIES’ RIGHTS AND INTEREST (HOWSOEVER DESCRIBED) IN THAT TRUST SHALL NOT BE TRANSFERRED WITHIN SIX MONTHS AFTER THAT CORPORATION OR THAT TRUST HAS ACQUIRED THE SECURITIES PURSUANT TO AN OFFER MADE UNDER SECTION 275 OF THE SFA EXCEPT:

  1. TO AN INSTITUTIONAL INVESTOR OR TO A RELEVANT PERSON DEFINED IN SECTION 275(2) OF THE SFA, OR TO ANY PERSON ARISING FROM AN OFFER
    REFERRED TO IN SECTION 275(1A) OR SECTION 276(4)(I)(B) OF THE SFA;
  2. WHERE NO CONSIDERATION IS OR WILL BE GIVEN FOR THE TRANSFER;
  3. WHERE THE TRANSFER IS BY OPERATION OF LAW;
  4. AS SPECIFIED IN SECTION 276(7) OF THE SFA; OR
  5. AS SPECIFIED IN REGULATION 32 OF THE SECURITIES AND FUTURES (OFFERS OF INVESTMENTS) (SHARES AND DEBENTURES) REGULATIONS 2005 OF SINGAPORE.

EMEA

UNITED KINGDOM

FOR RECIPIENTS IN THE UK, THE CONTENT OF THIS MATERIAL HAS NOT BEEN APPROVED BY AN AUTHORISED PERSON AS A FINANCIAL PROMOTION FOR THE PURPOSES OF SECTION 21 OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FSMA). NEITHER THIS DOCUMENT NOR ANY OF THE INFORMATION CONTAINED IN IT SHALL CONSTITUTE AN OFFER, SOLICITATION, INVITATION OR INDUCEMENT TO PURCHASE, ACQUIRE, SUBSCRIBE TO, PROVIDE OR SELL ANY FINANCIAL INSTRUMENT, NOR DOES THE DOCUMENT CONSTITUTE OR FORM PART OF ANY INVITATION, SOLICITATION OR INDUCEMENT TO ENGAGE IN INVESTMENT ACTIVITY UNDER SECTION 21 OF FSMA (AS AMENDED), NOR DOES IT CONSTITUTE A RECOMMENDATION REGARDING ANY FINANCIAL INSTRUMENT, NOR SHALL IT OR ANY PART OF IT FORM THE BASIS OF OR BE RELIED ON IN CONNECTION WITH ANY CONTRACT OR INVESTMENT DECISION.

IF YOU ARE CONSIDERING ENGAGING IN ANY INVESTMENT ACTIVITY, YOU SHOULD SEEK APPROPRIATE INDEPENDENT FINANCIAL ADVICE AND MAKE YOUR OWN ASSESSMENT. THIS COMMUNICATION IS MADE TO AND DIRECTED ONLY AT INVESTMENT PROFESSIONALS AS DEFINED IN ARTICLE 19 OF THE FSMA 2000 (FINANCIAL PROMOTIONS) ORDER 2005 AND OTHER PERSONS WHO ARE PERMITTED BY LAW TO RECEIVE IT (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS RELEVANT PERSONS). THIS DOCUMENT MUST NOT BE ACTED UPON PERSONS WHO ARE NOT RELEVANT PERSONS AND ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS DOCUMENT RELATES IS AVAILABLE ONLY TO, AND WILL BE ENGAGED IN ONLY WITH, RELEVANT PERSONS. PERSONS WHO ARE NOT RELEVANT PERSONS SHOULD NOT RELY ON THIS DOCUMENT. ANY RECIPIENT OF THIS DOCUMENT WHO IS NOT A RELEVANT PERSON SHOULD RETURN IT TO CITADEL IMMEDIATELY AND TAKE NO FURTHER ACTION.

ISRAEL

The Document and any information contained in it are presented in the state of Israel based on an exemption under the Securities Law, 1968 (the “Israeli Securities Law”) and the Joint Investment Trust Law, 1994 (the “Mutual Funds Law”). The Document and any information contained in it are presented in the state of Israel only to certain sophisticated investors listed in the First Schedule of the Israeli Securities Law. Neither the Document nor any information contain in it has been approved by any Israeli authority. None of CITADEL SECURITIES (EUROPE) LIMITED, CITADEL SECURITIES SWAP DEALER LLC OR CITADEL SECURITIES INSTITUTIONAL LLC, nor any of their representatives are licensed under the Israeli Regulation of Investment Advice, Investment Marketing and Portfolio Management Law, 1995. In making an investment decision, investors must only rely on their own examination of the services described in this Document and their terms, including the merits and risks involved, and should seek advice from appropriate advisors with respect to the legal, accounting, tax and financial ramifications.

SOUTH AFRICA

FOR RECIPIENTS IN SOUTH AFRICA, NEITHER CITADEL SECURITIES (EUROPE) LIMITED, CITADEL SECURITIES SWAP DEALER LLC, CITADEL SECURITIES INSTITUTIONAL LLC, NOR ANY OTHER PARTY ACTING ON ITS BEHALF, PROVIDES ‘INTERMEDIARY SERVICES’ OR ‘ADVICE’ AS DEFINED BY THE FINANCIAL ADVISORY AND INTERMEDIARY SERVICES ACT, 2002, NOR DO THEY SOLICIT, ADVERTISE OR MARKET FOR SUCH SERVICES.

TURKEY

No information in this document is provided for the purpose of offering, marketing and sale by any means of any capital market instruments/services in the Republic of Turkey. Therefore, this document may not be considered as an offer made or to be made to residents of the Republic of Turkey. The products and services referred to in this [document] are not products or services authorized/licensed/approved by the Capital Markets Board under the Capital Markets Law (Law No. 6362) and are not intended to constitute to an offer of products/services in the
Republic of Turkey.

AMERICAS

BVI

THIS OFFER DOES NOT CONSTITUTE, AND THERE WILL NOT BE, AN OFFERING OF SECURITIES TO THE PUBLIC IN THE BRITISH VIRGIN ISLANDS.

CAYMAN ISLANDS

NEITHER OF CITADEL SECURITIES (EUROPE) LIMITED NOR CITADEL SECURITIES LLC INTENDS OR IS LICENSED OR REGISTERED TO CONDICT BUSINESS IN, FROM OR WITHIN THE CAYMAN ISLANDS.

MEXICO

FOR RECIPIENTS IN MEXICO, THE CONTENT IN THIS MATERIAL HAS NOT BEEN PROVIDED BY A MEXICAN FINANCIAL ENTITY AUTHORIZED BY MEXICAN FINANCIAL AUTHORITIES TO CARRY OUT REGULATED ACTIVITY OR TO ACT AS A FINANCIAL INSTITUTION, INCLUDING SECURITIES INTERMEDIATION, WITHIN MEXICAN TERRITORY. ANY SERVICES DESCRIBED IN THESE MATERIALS WOULD BE RENDERED OR MADE IN A JURISDICTION OTHER THAN MEXICO, AND DO NOT CONSTITUTE INTERMEDIATION WITH SECURITIES IN MEXICO. THESE MATERIALS SHOULD NOT BE CONSIDERED AS INVESTMENT ADVICE OF ANY TYPE. TO REQUEST AND ACCESS THE SERVICES MENTIONED IN THESE MATERIALS, YOU MUST CONTACT US OUTSIDE MEXICAN TERRITORY.

PERU

FOR RECIPIENTS IN PERU, THE CONTENT IN THIS MATERIAL HAS NOT BEEN PROVIDED BY A BROKER-DEALER REGISTERED IN PERU.