Merrill Lynch (Australia) Futures Limited

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;

foreign exchange contracts;

debentures, stocks or bonds issued or proposed to be issued by a government;

interests in managed investment schemes excluding investor directed portfolio services; and

securities;

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;

foreign exchange contracts;

interests in managed investment schemes excluding investor directed portfolio services; and

securities;

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

derivatives;

foreign exchange contracts;

debentures, stocks or bonds issued or proposed to be issued by a government;

interests in managed investment schemes excluding investor directed portfolio services; and

securities; and

underwriting:

interests in managed investment schemes; and

an issue of securities; and

make a market for the following financial products:

foreign exchange contracts;

derivatives;

debentures, stocks or bonds issued or proposed to be issued by a government and/or debentures issued by any other body; and

limited to financial products other than:

derivatives;

foreign exchange contracts; and

debentures, stocks or bonds issued or proposed to be issued by a government and/or debentures issued by any other body;

to wholesale clients.