The term
(a) Are limited to:
(1) Engaging in dealer activities in eligible OTC derivative instruments that are securities;
(2) Issuing and reacquiring securities that are issued by the dealer, including warrants on securities, hybrid securities, and structured notes;
(3) Engaging in cash management securities activities;
(4) Engaging in ancillary portfolio management securities activities; and
(5) Engaging in such other securities activities that the Commission designates by order pursuant to § 240.15a-1(b)(1); and
(b) Consist primarily of the activities described in paragraphs (a)(1), (a)(2), and (a)(3) of this section; and
(c) Do not consist of any other securities activities, including engaging in any transaction in any security that is not an eligible OTC derivative instrument, except as permitted under paragraphs (a)(3), (a)(4), and (a)(5) of this section.
(d) For purposes of this section, the term