Barclays transacts and makes markets in multiple financial products and instruments. Unless otherwise expressly agreed or provided for in other applicable Barclays disclosures or required by law or regulation, Barclays conducts these activities as principal. When Barclays executes its principal transactions with you it does so as an arm’s length counterparty and not as an agent. Barclays does not act as a fiduciary or financial advisor, or in any similar capacity, on your behalf in relation to these transactions. When you provide Barclays with specific information for the purpose of obtaining a quote or request Barclays to enter into a transaction as your counterparty, such information, along with all other information available to Barclays, may (subject to applicable law) be used by Barclays to engage in its trading, market making and risk management activities, including pre-hedging and hedging activities, without further disclosure to you. Any pre-hedging or hedging transactions will be entered into with a view to managing risk and facilitating your transaction and may be executed before, during and after receiving a live pricing request or firm order from you. Any pre-hedging and hedging transactions entered into by Barclays could be at different prices from the price at which Barclays executes your transaction, may affect the market prices or rates of, or liquidity for, the financial products or instruments you are buying or selling which may result in profit or loss to Barclays.