A rights offering (issue)permits companies to raise additional equity through the primary market after already having securities enter the secondary market. Different types of financial instruments are described below: 1) Cash Instruments Primar. However, it is important to know that buying these financial instruments involves a lot of risks. The important thing to understand about the primary market is that securities are purchased directly from an issuer. 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The ISSB will deliver a global baseline of sustainability disclosures to meet capital market needs. Hedge Definition: What It Is and How It Works in Investing. Investopedia does not include all offers available in the marketplace. Corporate Office 6640 Riverside Drive, Suite 430 Dublin, OH 43017 Operations - 614-825-9390 Trading - 800-639-0339 Brian Beers is a digital editor, writer, Emmy-nominated producer, and content expert with 15+ years of experience writing about corporate finance & accounting, fundamental analysis, and investing. Financial instruments can be purchased through brokers, directly from the issuing company, banks, and individual investors. This is consistent with the description provided at paragraph AG 16 of, This textbook can be purchased at www.amazon.com, International Financial Reporting Standards. For example, company ABCWXYZInc. hires fiveunderwritingfirms to determine the financial details of itsIPO. Types of Financial Instruments 1. In 2011, she published her first book, Investopedia requires writers to use primary sources to support their work. primary financial instruments. What are primary and secondary markets for financial instruments? Course Hero is not sponsored or endorsed by any college or university. "Nasdaq Market Center Systems Description," Page 3. These include white papers, government data, original reporting, and interviews with industry experts. include application guidance on deciding which method of presenting operating expenses provides the most useful information, including the factors set out in paragraph B45 of the Exposure Draft. Options on stocks are some of the most common derivative products used by alternative investors. Thus, the primary objective of a financial instrument is to facilitate the efficient flow of capital among investors across the world. Call and put options are two of the most common types of non-primary instruments traded in the market. View Notes - primary financial instruments.pdf from ACT 503 at Charles Darwin University. If you accept all cookies now you can always revisit your choice on ourprivacy policypage. Derivative Securities 4. The IFRS Foundation's logo and theIFRS for SMEslogo, the IASBlogo, the Hexagon Device, eIFRS, IAS, IASB, IFRIC, IFRS,IFRS for SMEs, IFRS Foundation, International Accounting Standards, International Financial Reporting Standards, NIIFand SICare registered trade marks of the IFRS Foundation, further details of which are available from the IFRS Foundation on request. Explain the consequence. The primary market is where companies issue a new security, not previously traded on any exchange. The main reason these third- and fourth-market transactions occur is to avoid placing these orders through the main exchange, which could greatly affect the price of the security. The interest is paid at the end of each year. Financial instruments may be divided into two types: cash instruments and derivative instruments. Since 2015 she has worked as a fact-checker for America's Test Kitchen's Cook's Illustrated and Cook's Country magazines. Primary markets are facilitated by underwriting groups consisting of investment banks that set a beginning price range for a given security and oversee its sale to investors. We also talked about who the major players are. Participating Notes. Our Standards are developed by our two standard-setting boards, the International Accounting Standards Board (IASB) and International Sustainability Standards Board (ISSB). Primary instruments include cash-traded products like stocks, bonds, currencies, and spot commodities. She has published articles in The Boston Globe, Yankee Magazine, and more. By closing this banner, scrolling this page, clicking a link or continuing to browse otherwise, you agree to our Privacy Policy, Explore 1000+ varieties of Mock tests View more, Special Offer - Investment Banking Course Learn More, You can download this Financial Instrument Excel Template here , 250+ Online Courses | 40+ Projects | 1000+ Hours | Verifiable Certificates | Lifetime Access, Investment Banking Course (123 Courses, 25+ Projects), Mergers & Acquisition Course (with M&A Projects), Financial Modeling Course (7 Courses, 14 Projects). The market cap of the New York Stock Exchange, the largest stock exchange in the world, as of March 2020. Stock exchanges are considered to be part of the "secondary" market. Some of the most common examples of financial instruments include equity stocks, bonds, and derivative contracts. Thus, the issuance of ordinary shares results in the creation of an equity-type financial instrument. In 2013, she was hired as senior editor to assist in the transformation of Tea Magazine from a small quarterly publication to a nationally distributed monthly magazine. The IASB tentatively decided to withdraw the proposed requirement in the Exposure Draft for an entity to classify incremental expenses in the investing category. Capital markets are venues where savings and investments are channeled between suppliers and those in need of capital. Capital Market vs. Stock Market: What's the Difference? You might also hear the terms "third" and "fourth" markets. The term financial instruments refers to the contracts that are held between two parties for their monetary value. The primary market may also be called the New Issue Market (NIM). Primary instruments are standard financial investments. OTCBB and pink sheet companies have far fewer regulations to comply with than those that trade shares on a stock exchange. Financial instruments such as receivables, payables and equity securities, that are not derivative financial instruments. He has 8 years experience in finance, from financial planning and wealth management to corporate finance and FP&A. One very common example of a cash financial instrument is a stock. New bonds are issued with coupon rates that correspond to the current interest rates at the time of issuance, which may be higher or lower than pre-existing bonds. Primary financial instruments generate rights and obligations between the parties directly involved in the underlying transaction. The financial instruments (also called securities) that exist in the Local Country's1 financial markets (defined in the next section) are revealed in Figure 2. A financial instrument represents a legal agreement between two parties who are engaged in the exchange of an asset with some kind of monetary value. Derivatives get their name because they are derived from the primary (underlying) asset. "Largest Stock Exchange Operators Worldwide as of March 2020, by Market Capitalization of Listed Companies.". primary_ids : instrumentfilename_points_covered_by_landmarks. to withdraw the proposed prohibition on a mixed presentation of operating expenses, and: require an entity, when considering which method to use, to consider the role of primary financial statements; and. In 2011, she became editor of World Tea News, a weekly newsletter for the U.S. tea trade. A hedge is a type of investment that is intended to reduce the risk of the effect of adverse price movements in an asset. However, in response to requests from interested parties that the accounting for financial instruments should be improved quickly, the Board divided its project to replace IAS 39 into three main phases. Once the initial. Start Your Free Investment Banking Course, Download Corporate Valuation, Investment Banking, Accounting, CFA Calculator & others. For example, if you go to buy Amazon(AMZN) stock, you are dealing only with another investor who owns shares in Amazon. Buying a put option gives an investor the right to sell a stock when they estimate a price is falling. The secondary market can be further broken down into two specialized categories: In the auction market, all individuals and institutions that want to trade securities congregate in one area and announce the prices at which they are willing to buy and sell. The word "market" can have many different meanings, but it is used most often as a catch-all term to denote both the primary market and the secondary market. Because access to the third and fourth markets is limited, their activities have little effect on the average investor. What benefits do theybring to the worldeconomy? The closing market price of McTavish Ltd shares on 30 June 2023which is, Woodie Ltd issues $5 million in convertible bonds on 1 July 2023. Financial instruments with characteristics of equity. A primary instrument is a financial investment whose price is based directly on its market value. The primary market is where securities are created, while the secondary market is where those securities are traded by investors. A financial instrument is an instrument that has monetary value or records a monetary transaction or any contract that imposes on one party a financial liability and represents to the other a financial asset or equity instrument. These trades provide an opportunity for investors to buy securities from the bank that did the initial underwriting for aparticular stock. It determines the price of a derivative product by considering five input variables: Black Scholes is used to calculating prices for call and put options. Buying a call option gives an investor the right to buy a stock at a specified strike price. Partnership Framework for capacity building, General Sustainability-related Disclosures, Consistent application of IFRS Accounting Standards. All 11 IASB members agreed with this decision. The best example of an auction market is the New York Stock Exchange (NYSE). Call and put options, and futures are some of the derivatives that can be used to profit from primary instruments. All legal information Nowadays, the term "over-the-counter" generally refers to stocks that are not trading on a stock exchange such as the Nasdaq, NYSE, or American Stock Exchange (AMEX). "Wall Street and the Stock Exchanges: Historical Resources. Private placement allows companies to sell directly to more significant investors such as hedge funds and banks without making shares publicly available. Why have global accounting and sustainability standards? Below are the different examples of Financial Instrument: Let us assume that XYZ Inc. issued 10,000 ordinary shares with a face value of $10, and the issue was for cash consideration of $25 each. At the time, few regulations were placed on shares trading over-the-counter, something the NASD sought to improve. Black Scholes is the main methodology for calculating the price of derivative options on stocks. Why Would Someone Choose a Mutual Fund Over a Stock? How Do I Place an Order to Buy or Sell Shares? Primary financial statements 27 Apr 2021 Rather, participants in the market are joined through electronic networks. This helps guide our content strategy to provide better, more informative content for our users. Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. Understanding primary instruments provides the base knowledge for derivatives, whose prices are derived from the primary (underlying) asset. Thus, theoretically, the best price of a good need not be sought out because the convergence of buyers and sellers will cause mutually agreeable prices to emerge. As the Nasdaq has evolved over time to become a major exchange, the meaning of over-the-counter has become fuzzier. Investing vs. Trading: What's the Difference? Overview. IASB Meeting 27-28 April 2021. to provide application guidance to clarify: the requirement for consistent presentation of operating expenses from one reporting period to the next; and. By signing up, you agree to our Terms of Use and Privacy Policy. What is a derivative financial instrument? Primary investments like stocks are what most beginning investors think of when they think about investing. When it comes to the markets, therefore, what you don't know can hurt you and, in the long run, a little education might just save you some money. An IPO occurs when a private company issues stockto the public for the first time. Primary financial statements. to clarify that how an entity categorises subsidiaries, associates and joint ventures to assess whether investing in subsidiaries, associates and joint ventures is a main business activity should be consistent with how the entity categorises investments to determine the measurement basis (paragraph 10 of IAS 27). Over-the-Counter (OTC) trades for securities are transacted via a dealer network as opposed to on a centralized exchange such as NYSE. The importance of markets and the ability to sell a security (liquidity) is often taken for granted, but without a market, investors have few options and can get stuck with big losses. They allow an investor to take a future bet on a primary instrument by buying a futures contract. It can also be divided into two major asset classes equity instrument and debt instrument. The way in which securities are brought to the market and traded on various exchanges is central to the market's function. Some cookies are essential to the functioning of the site. You can learn more about the standards we follow in producing accurate, unbiased content in our. 1. Sometimes you'll hear a dealer market referred to as an over-the-counter (OTC) market. In this case, $100,000 (= 10,000 x $10) would be recorded as ordinary share capital, while the remaining $150,000 (= 10,000 x ($25 $10)) would be booked as the share premium in the balance sheet. In this type of financial instrument, the value is directly influenced by the market condition. The IASB asked the staff as a drafting consideration to explain the types of income and expenses classified in the investing category. The term was most likely derived from the off-Wall Street trading that boomed during the great bull market of the 1920s, in which shares were sold "over-the-counter" in stock shops. Marguerita is a Certified Financial Planner (CFP), Chartered Retirement Planning Counselor (CRPC), Retirement Income Certified Professional (RICP), and a Chartered Socially Responsible Investing Counselor (CSRIC). He has authored books on technical analysis and foreign exchange trading published by John Wiley and Sons and served as a guest expert on CNBC, BloombergTV, Forbes, and Reuters among other financial media. Other cookies are optional. The IASB met on 20 and 21 September 2022 to redeliberate the proposals in its Exposure Draft General Presentation and Disclosures relating to: Unusual income and expenses (Agenda Paper 21A). Cash Deposits Cash deposits are money a person pays to savings accounts or bank accounts. Preference cookies allow us to offer additional functionality to improve the user experience on the site. Without them, the capital marketswould be much harder to navigate and much less profitable. The primary market is where securities are created. Agenda. In fact, many investment scams revolve around securities that have no secondary market, because unsuspecting investors can be swindled into buying them. The idea is that an efficient market should prevail by bringing together all parties and having them publicly declare their prices. The IASB completed its project to replace IAS 39 in phases, adding to the standard as it completed each phase. The underwritersdetail that the issue price of the stock will be$15. . Some of the key takeaways of the article are: So, financial instruments are contract agreements between parties that capture the monetary value of the underlying asset. A company's equity capital is comprised of the funds generated by the sale of stock on the primary market. Similarly, businesses and governments that want to generatedebt capitalcan choose to issue new short- and long-term bonds on the primary market. Since ABC Inc. received funds that have a repayment obligation, it is classified as a financial liability. For example, acquiring shares in a company gives the investor a financial asset in the company and the shares are considered an equity instrument of the company. An entity would not be required to disclose any other information relating to the specified subtotal. While preferential allotment offers shares to select investors (usually hedge funds, banks, and mutual funds)at a special price not available to the general public. Essential cookies are required for the website to function, and therefore cannot be switched off. We undertake various activities to support the consistent application of IFRS Standards, which includes implementation support for recently issued Standards. Secondary Capital Markets: What's the Difference? Derivative products have values that are generated from the primary instrument. She is a library professional, transcriptionist, editor, and fact-checker. How to Buy and Sell Stocks for Your Account, Trading Hours of the Worlds Major Stock Exchanges, How to Invest in Stocks: A Beginners Guide, The Basics of Trading a Stock: Know Your Orders, How to Reduce Risk With Optimal Position Size. We offer a broad range of products and premium services, includingprintand digital editions of the IFRS Foundation's major works, and subscription options for all IFRS Accounting Standards and related documents. Katrina also served as a copy editor at Cloth, Paper, Scissors and as a proofreader for Applewood Books. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Primary financial instruments generate rights and obligations between the parties directly involved in the underlying transaction. All 11 IASB members agreed with this decision. Types, Spreads, Example, and Risk Metrics, Investment Basics Explained With Types to Invest in. Over time, however, the meaning of OTC began to change. Improve it. The offers that appear in this table are from partnerships from which Investopedia receives compensation. The term originally meant a relatively unorganized system where trading did not occur at a physical place, as we described above, but rather through dealer networks. The theory is that competition between dealers will provide the best possible price for investors. What is a primary financial instrument Provide some examples Examples of primary, 8 out of 12 people found this document helpful. Equity: Though equity shares are usually associated with voting rights, some may have no voting rights. Futures products are also non-primary instruments that allow investors to hedge against market movements of primary instruments. The secondary market allows daily investors to buy shares that were previously issued on the primary market. A primary instrument is a financial investment whose price is based directly on its market value ,Derivative instruments create an alternative product for investors seeking to benefit from changes in the market value of primary instruments. The IASB also asked the staff to explore a general reconciliation requirement for subtotals disclosed in the notes and not presented in the statement(s) of financial performance. And I want to start by telling you about primary and secondary markets. Entities with specified main business activitiesAssociates and joint ventures (Agenda Paper 21B). It can be any type of financial investment that is priced based on its own value. The fourth market is a market that trades securities on a private, over-the-counter network, not a recognized exchange like the New York Stock Exchange. to confirm the examples of subtotals similar to gross profit listed in paragraph B78 of the Exposure Draft. The fourth market is made up of transactions that take place between large institutions. Parameters and Trading, With Examples, What are Options? IFRS Taxonomy Consultative Group None of this information can be tracked to individual users. A stock option gives an investor the right, but not the obligation, to buy or sell a stock at an agreed-upon price and date. Cash Instruments In this type of financial instrument, the value is directly influenced by the market condition. to add operating profit or loss and income and expenses from investments accounted for using the equity method to the list of specified subtotals in paragraph 104 of the Exposure Draft. They often trade on mainstream exchanges with high levels of liquidity. Add an image. An example of a dealer market is the Nasdaq, in which the dealers, who are known as market makers, provide firm bid and ask prices at which they are willing to buy and sell a security. ALL RIGHTS RESERVED. Thus, the value of the bonds today can be determined as. Financial instruments include both primary and derivative instruments. This is the first opportunity that investors have to contribute capital to acompany through the purchase of its stock. How to Calculate Your Portfolio's Investment Returns, 5 Essentials You Need to Know About Every Stock You Buy, Sector Breakdown Definition and Stock Market Use, How to Analyze a Company's Financial Position, Technical Analysis: What It Is and How to Use It in Investing, Dealer Market: Definition, Example, Vs. to expand the explanation in the description of the function of expense method to clarify how the function of expense method involves allocating and aggregating operating expenses according to the activity to which the consumed economic resource relates. Typically, financial instruments can be broken down into three major types - cash, derivative, and foreign exchange. One can benefit by buying these financial instruments. Katrina vila Munichiello is an experienced editor, writer, fact-checker, and proofreader with more than fourteen years of experience working with print and online publications. Typically, financial instruments can be broken down into three major types cash, derivative, and foreign exchange. Primary financial instruments are contracts that give rise to financial assets in one entity, and financial liability and/or equity in another entity. The secondary market is basically the stock market and refers to the New York Stock Exchange, the Nasdaq, and other exchanges worldwide. Public consultations are a key part of all our projects and are indicated on the work plan. We talked about what are financial instruments, equity, debt, derivatives instruments. Other types of primary market offerings for stocks include private placement and preferential allotment. Currency futures that bet on future prices of currency values are some of the most common types of futures traded by investors. What Are Some Examples of Financial Markets and Their Roles? They are known as non-primary instruments. Investments in subsidiaries, associates and joint ventures (Agenda Paper 21C), Classification of incremental expenses (Agenda Paper 21D). There are two types of cash instruments - securities and deposits & loans. U.S. Securities and Exchange Commission. There are various ways of buying these financial instruments, and some of them are mentioned below: Other than the classification mentioned above, the financial instruments can also be classified into two asset classes equity instrument and debt instrument. Examples of financial instruments are bills of exchange, bond, share, stocks, futures, cheque, currency, swaps, options, etc. While the primary market contains purchases directly to the issuer's buyer, the secondary market . This preview shows page 2 - 4 out of 9 pages. An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in value at some point in the future. to specify in the application guidance that if a management performance measure is reconciled to a specified subtotal that is not presented in the statement of profit or loss, an entity is required to reconcile that specified subtotal to a subtotal presented in the statement(s) of financial performance. What is a primary financial instrument Provide some examples Examples of primary from ACCOUNT 3181 at Griffith University require operating expenses to be presented in the statement of profit or loss using a classification based either on their nature or function; and. CBOE Volatility Index (VIX): What Does It Measure in Investing? Using our website, IFRS Sustainability Disclosure Standards (in progress), International Sustainability Standards Board, Integrated Reporting and Connectivity Council. By contrast, the price of derivative instruments, such as options and futures, is often based on the value of a primary instrument. These contracts can be created, traded, or modified as per the requirements of the parties involved in the transaction. We do this because the quality of implementation and application of the Standards affects the benefits that investors receive from having a single set of global standards. to clarify that income and expenses from associates and joint ventures not accounted for using the equity method includes income and expenses from associates and joint ventures accounted for: at fair value through profit or loss in accordance with IFRS 9 (paragraph 18 of IAS 28. to require income and expenses from investments in subsidiaries not accounted for using the equity method to be classified: in the investing category if investing in subsidiaries is not a main business activity; and. They are issued at their face value and pay an interest rate of 4 per cent. Figure 2: financial intermediaries & instruments / securities Spot financial markets Introduction Spot (also called cash) markets are distinguishable from the derivative markets. A financial instrument derivative is a financial instrument whose value or performance is derived from or reliant on the fluctuations of the value of an underlying group of assets such as commodities, bonds, stocks, currencies, interest rates, and stock market indices. to require an entity that presents functional line items to disclose a narrative description of what types of expenses (based on their nature) are included in each functional line item. \. Chip Stapleton is a Series 7 and Series 66 license holder, CFA Level 1 exam holder, and currently holds a Life, Accident, and Health License in Indiana. The IASB tentatively decided that it will not proceed with any specific requirements for unusual income and expenses as part of this project. Each type of financial instrument has certain benefits along with some potential risks. The primary market facilitates private settlement transactions and a rights issue when a company needs additional capital increases. The IASB tentatively decided to require an entity with specified main business activities to classify in the investing category income and expenses from associates and joint ventures accounted for using the equity method. A financial instrument represents a contractual agreement between two parties engaged in exchanging an asset with monetary value. All 11 IASB members agreed with this decision subject to some drafting considerations relating to the application guidance. Therefore, the price of the zero-coupon bond today is $864. A company offers securities to the general public to raise funds to finance its long-term goals. Wall Street and the Stock Exchanges: Historical Resources, Largest Stock Exchange Operators Worldwide as of March 2020, by Market Capitalization of Listed Companies. presentation of operating expenses (Agenda Paper 21F). In other words, the stocks were not listed on a stock exchange, they were "unlisted.". A primary instrument is a financial investment whose price is based directly on its market value. to require an entity to include in cost of sales the carrying amount of inventories recognised as an expense during the period when presenting cost of sales. Investopedia does not include all offers available in the marketplace. Derivatives: Types, Considerations, and Pros and Cons, What Are Stock Options? This compensation may impact how and where listings appear. 0 0. On 3 November 2021, at COP26, the IFRS Foundation Trustees announced the creation of the International Sustainability Standards Board (ISSB). Multiple dealers post prices at which they will buy or sell a specific security of instrument. The primary market is where securities are created, while the secondary market is where those securities are traded by investors. This compensation may impact how and where listings appear. Amanda Jackson has expertise in personal finance, investing, and social services. A primary instrument is a financial investment whose price is based directly on its market value. 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