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The information in this communication is provided for informational and demonstrational purposes only and neither is it intended as an offer or solicitation with respect to the purchase or sale of any security nor should it serve as the basis for any investment decisions. In the UK, this material is intended for use only by persons who have professional experience in matters relating to investments falling within the Financial Services and Markets Act 2000 or to persons to whom it can be otherwise lawfully distributed.

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TP ICAP provides a wholesale broking service only. Tullett Prebon (Securities) Ltd and Tullett Prebon (Europe) Ltd are authorised and regulated by the Financial Conduct Authority ("FCA").

This publication is produced and distributed in accordance with the FCA Handbook. Recipients should note that all such publications are objective and impartial in their content unless clearly notified otherwise.