as.exchange™ and Alter Securities™ are the service marks and/or trademarks of Alter Securities Limited. Supporting documentation for any claims and statistical information will be provided upon request. Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

The risk of loss in online trading of stocks, options, futures, forex, foreign equities, fixed income and derivatives can be substantial.

Derivatives involve risk and are not suitable for all investors. For more information read the "Characteristics and Risks of Derivatives". Before trading, clients must read the relevant risk disclosure statements on our Warnings and Disclosures document - Warning and Disclosures. Trading on margin is only for sophisticated investors with high risk tolerance. You may lose more than your initial investment.

The Company has filled a patent application with the World Intellectual Property Organization (WIPO) for the Tranched Value Securities™ (the “TVS™”) instrument. The current status of the patent is patent pending, therefore, any use or reference to the Tranched Value Securities™ might be subject to the local patent laws and regulars and should be done after the official approval from the Alter Securities Limited. Unauthorized use without the Alter Securities Limited consent, reference to or commercialization of Tranched Value Securities™ is subject to legal proceedings and financial penalties.