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EDX London Limited and OM London Exchange Limited: No-Action Letter dated October 29, 2003 (8043 words) |
 | EDX London Members that have a permanent place of business in Iceland, Norway, Liechtenstein, or a country that is part of the European Union, but not within the United Kingdom, must be authorized by the relevant regulator in their respective home country. |
| EDX London Members that do not have a permanent place of business in any of the foregoing countries must demonstrate to the satisfaction of EDX London that they are subject to an appropriate level of regulation with respect to their EDX London-related activities and that they comply with local regulatory requirements. |
| EDX London's procedures are designed so that for every outstanding Option for which there is a buyer there is a writer of an Option of the same series who has undertaken to perform the writer's obligations in the event that an exercise is assigned to such writer. |
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