© 2016 Associated Foreign Exchange, Inc. All rights reserved.
“AFEX” is the marketing trading name for the International Payment Solutions and Risk Management Solutions provided by several subsidiaries of Associated basis by Associated Foreign Exchange Ltd; in the Channel Islands by AFEX Offshore Ltd; and in the U.S.
by Associated Foreign Exchange, Inc. (collectively referred to as “AFEX” or “Associated Foreign Exchange”). For more information, visit
Associated Foreign Exchange Australia Pty Limited ABN 119 392 586 and AFSL 305246, authorised and regulated by the Australian Securities and Investments Commission, Citigroup Centre, 2 Park Street, Suite D 38th Floor, Sydney NSW 2000. Registered Office: Grant
Thornton Australia, Level 17 383 Kent Street, Sydney NSW 2000. Associated Foreign Exchange, ULC, 200 Front Street, Suite 2203, Toronto, ON M5V 3K2, registered as a Money Services Business with the Financial Transactions and Reports Analysis Centre of Canada
and with the Autorité des marchés financiers (“AMF”). PT. AFEX Indonesia is a private limited company incorporated in Indonesia with its head office located at 45th floor, Menara BCA, Grand Indonesia, Jl. MH Thamrin No. 1, Jakarta Pusat 10310. PT AFEX Indonesia
is licensed by the Bank of Indonesia as a Fund Transfer Operator (License Number: 17/158/DKSP/61). Associated Foreign Exchange (Schweiz) AG, Reg. No. CHE-114.547.009, with a registered place of business at Stampfenbachstrasse 5, 8001 Zurich. Associated Foreign
Exchange Ltd (registered in England and Wales, Company Number 4848033, Registered Office Address: 4th Floor, 40 Strand, London WC2N 5RW), authorised by the Financial Conduct Authority under the Payment Services Regulations 2009 (Register Reference: 502593)
for the provision of payment services and is registered as an MSB with HM Revenue & Customs (Registered No: 12159000). Associated Foreign Exchange Ltd, the Italian Branch. Italian registered office: Piazza Pio XI 1, 20123 Milan, Italy. Tax code and VAT number:
08042310964. Registration number at the Chamber of Commerce of Milan: 08042310964. Authorised by the Bank of Italy to provide payment services in Italy and registered to the list of payment institutions established number 36043.8. Associated Foreign Exchange
Ltd, the Spanish Branch. Spanish registered office: Paseo de la Castellana nº 18, PL. 7º, 28046 Madrid, Spain (Bank of Spain code number: 6873). Tax code and VAT number: W8265977B. Authorised by the Bank of Spain to provide payment services in Spain as a branch
of Associated Foreign Exchange Ltd. AFEX Offshore Limited is authorised and regulated by the Jersey Financial Services Commission for Oversight, New York State Department of Financial Services, Illinois Division of Financial Institutions, and Texas Department
of Banking. For a complete listing of U.S. State licensing, visit
AFEX has based the opinions expressed herein on information generally available to the public. AFEX makes no warranty concerning the accuracy of this information and specifically disclaims any liability for trading decisions based on the opinions expressed
and information contained herein. Such information and opinions are for general information only and are not intended to present advice with respect to matters reviewed and commented upon.
This report is not directed to, or intended for distribution to or use by, any person or entity who is a citizen or resident of or located in any locality, state/province/county, country or other jurisdiction where such distribution, publication, availability
or use would be contrary to law or regulation or which would subject AFEX or any affiliate to any registration or licensing requirement within such jurisdiction. All material presented herein, unless specifically indicated otherwise, is under copyright to
Associated Foreign Exchange, Inc.
This information has been prepared solely for informational purposes and does not in any way create any binding obligation on any party. Relations between you and AFEX shall be governed by applicable terms and conditions. No representations, warranties or conditions
of any kind, express or implied, are made in this report.
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