TRADING MEMBER CORPORATE INFORMATION
Scotia Inverlat Derivados S.A. de C.V., a subsidiary of Scotiabank Inverlat, S.A. and Scotia Inverlat Casa de Bolsa, S.A. de C.V. was founded on March 20, 1999. The company’s basic data an be found in public document number 20,537, Volume 476.
The notary who registered the company is number 195 of Mexico City, the Federal District, located at Nuevo León 34, Colonia Hipódromo Condesa, postal code 06170, Mexico City.
Scotia Inverlat Derivados, S.A. de C.V. is located at Bosque de Ciruelos 120, Floor 11, Colonia Bosques de las Lomas, in México City.
COMPOSITION OF THE SUBSIDIARY’S CAPITAL
The subsidiary’s capital consists of investment by Scotia Inverlat Casa de Bolsa, S.A de C.V. and by Scotiabank Inverlat, S.A. It is therefore permitted to engage in transactions involving all types of contracts (rule 9 of the rules of the Mexican Derivatives Market, published on December 31, 1996).
Scotiabank Inverlat S.A. contributed 51% of the subsidiary’s capital, and the brokerage firm (Scotia Inverlat Casa de Bolsa contributed 49%.
Because the subsidiary is made up of the bank’s equity, its investments are subject to the Credit Institutions Law (articles 55, 75, 88 and 89), which, even with the restrictions mentioned in that Law, allow the bank to
participate in the creation of this subsidiary.
Its minimum equity must be equivalent to 100,000 Mexican
Investment Units (UDIs), but for the purposes of incorporation, the minimum capital must be stated in pesos (because of a lack of intrinsic value of the UDI) and updated daily according to the change in the value of the UDI. The minimum capital stock recorded in the deed of incorporation must therefore be the value of the UDI on the date of incorporation, multiplied by one, plus at least projected inflation for one year or for whatever period of time has been established for the revision of the capital stock, for its modification.
SHARES OWNED BY THE SUBSIDIARY
Grupo Financiero Scotiabank Inverlat owns one share in the Mexican Derivatives Market.
"This agreement is signed in both Spanish and English (for information purposes). However the Spanish version will prevail in all cases ”.