By submitting a tender offering a security or securities for sale, you are deemed to certify to us that:

1. (a) You are in compliance with this part and the redemption operation announcement;

2. (b) You will not use any redemption operation information from FedTrade as a basis for any transaction unless:

   1. (1) such information is available to you from another source at the time of the transaction; or
   2. (2) such transaction is solely for the purpose of hedging specific, identifiable risks to you arising from the acceptance or rejection of your offers in a Treasury redemption operation or unwinding hedges of specific, identifiable risks to you arising from securities you redeem in a Treasury redemption operation; and
3. (c) You will not convey any redemption operation information from FedTrade to another person or entity except for the purpose of effectuating a transaction permitted under paragraph (b) of this section.