Both "Derivative Transactions" and “Securities” are regulated under the FIEA as Financial Instruments/transactions with an investment character. However, since “Securities” are instruments that indicate rights whereas "Derivative Transactions" are acts, their positioning under the FIEA differs from each other. In the case of “Securities” certain acts conducted in relation to such Securities (sales and purchases, etc.) are subject to the regulations on conducting business or the regulations on activities under the FIEA, but in the case of "Derivative Transactions," the act of such transaction itself is subject to the regulations on conducting business or the regulations on activities.