In order to comply with the ASIC Australian Financial Services Reform Act ICM obtained a licence to advise on Derivatives and Foreign Exchange in 2003 and upgraded this to include Dealing on behalf of clients in 2004. This licence allows us to advise clients on Derivative and Foreign Exchange hedging strategies relating to the pricing of their physical product and under instruction place orders on their account without becoming a signatory. This licencing ensures absolute transparency for our clients through ASIC compliance requirements and requires us to have appropriate documentation and policies to ensure that our clients are treated fairly.