Mercuria Commodity Markets (Asia) Pte. Ltd.

This licence authorises the licensee to carry on a financial services business to:

provide financial product advice for the following classes of financial products:

derivatives;

Australian carbon credit units; and

eligible international emissions units;

deal in a financial product by:

issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

derivatives; and

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

derivatives;

Australian carbon credit units; and

eligible international emissions units; and

make a market for the following financial products:

derivatives;

Australian carbon credit units; and

eligible international emissions units;

to wholesale clients.