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CONSULTATIONCONCLUSIONSONAPROPOSEDOPERATIONALMODELFORASCRIPLESSSECURITIESMARKETMay200420045CONSULTATIONCONCLUSIONSONAPROPOSEDOPERATIONALMODELFORASCRIPLESSSECURITIESMARKETi-vi12-67-1718-1920-23124-25226-39i20031024261––––*######3.493.5(i)(ii)(iii)(iv)3.16(v)(vi)103.63.223.7(i)(ii)(iii)(i)(ii)(iii)3.8(i)(ii)(iii)113.9(i)(ii)(iii)(iv)(i)(ii)(iii)(iv)3.103.11123.123.133.1460020%60016050%133.155515%3.163.173.183.19143.205003.213.22153.233.24163.253.263.273.28173.293.3015%184.14.24.35512184.4194.54.64.720(ATI)21(EDI)(EWI)22(IP)(ISI)(ROM)23(SI)(SRN)241.(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11)(12)(13)(14)(15)(16)(17)(18)(19)HSBCCustodyandClearingServices(20)25.(21)(22)(23)(24)(25).(26)26262