<SEC-DOCUMENT>0001455915-21-000006.txt : 20211112
<SEC-HEADER>0001455915-21-000006.hdr.sgml : 20211112
<ACCEPTANCE-DATETIME>20211112162127
ACCESSION NUMBER:		0001455915-21-000006
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210930
FILED AS OF DATE:		20211112
DATE AS OF CHANGE:		20211112
EFFECTIVENESS DATE:		20211112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OLD MISSION CAPITAL LLC
		CENTRAL INDEX KEY:			0001455915
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			IL

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-16387
		FILM NUMBER:		211403884

	BUSINESS ADDRESS:	
		STREET 1:		1 N. DEARBORN ST.
		STREET 2:		8TH FLOOR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
		BUSINESS PHONE:		312-260-3052

	MAIL ADDRESS:	
		STREET 1:		1 N. DEARBORN ST.
		STREET 2:		8TH FLOOR
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60602
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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          <cik>0001455915</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>09-30-2021</periodOfReport>
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    <coverPage>
      <reportCalendarOrQuarter>09-30-2021</reportCalendarOrQuarter>
      <filingManager>
        <name>OLD MISSION CAPITAL LLC</name>
        <address>
          <com:street1>1 N. DEARBORN ST.</com:street1>
          <com:street2>8TH FLOOR</com:street2>
          <com:city>CHICAGO</com:city>
          <com:stateOrCountry>IL</com:stateOrCountry>
          <com:zipCode>60602</com:zipCode>
        </address>
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      <form13FFileNumber>028-16387</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
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    <signatureBlock>
      <name>Patrick Nichols</name>
      <title>Manager</title>
      <phone>212-389-9455</phone>
      <signature>New York</signature>
      <city>NYC</city>
      <stateOrCountry>NY</stateOrCountry>
      <signatureDate>11-12-2021</signatureDate>
    </signatureBlock>
    <summaryPage>
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    <titleOfClass>Common Stock</titleOfClass>
    <cusip>852312305</cusip>
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    <nameOfIssuer>QUANTUMSCAPE CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>74767V109</cusip>
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    <nameOfIssuer>EVERBRIDGE INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>29978A104</cusip>
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    <nameOfIssuer>ACCELERON PHARMA INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>00434H108</cusip>
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    <nameOfIssuer>LANCASTER COLONY CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>513847103</cusip>
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    <nameOfIssuer>AMPLITUDE INC-CLASS A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>03213A104</cusip>
    <value> 995</value>
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    <nameOfIssuer>WARBY PARKER INC-CLASS A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>93403J106</cusip>
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    <nameOfIssuer>TAILWIND ACQUISITION CORP-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>87403Q102</cusip>
    <value> 863</value>
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      <Sole> 88243</Sole>
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    <nameOfIssuer>BILL.COM HOLDINGS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>090043100</cusip>
    <value> 862</value>
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    <nameOfIssuer>LEGGETT &amp; PLATT INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>524660107</cusip>
    <value> 814</value>
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      <Sole> 18161</Sole>
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    <nameOfIssuer>LPL FINANCIAL HOLDINGS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>50212V100</cusip>
    <value> 799</value>
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    <nameOfIssuer>DENALI THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>24823R105</cusip>
    <value> 783</value>
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    <nameOfIssuer>DIAMONDBACK ENERGY INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>25278X109</cusip>
    <value> 776</value>
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    <nameOfIssuer>NEW RELIC INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>64829B100</cusip>
    <value> 775</value>
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      <Sole> 10801</Sole>
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      <None>0</None>
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    <nameOfIssuer>JAMF HOLDING CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>47074L105</cusip>
    <value> 772</value>
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      <Sole> 20044</Sole>
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    <nameOfIssuer>ENTEGRIS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>29362U104</cusip>
    <value> 745</value>
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      <sshPrnamt> 5916</sshPrnamt>
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      <Sole> 5916</Sole>
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      <None>0</None>
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    <nameOfIssuer>QUANTA SERVICES INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>74762E102</cusip>
    <value> 697</value>
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      <sshPrnamt> 6121</sshPrnamt>
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      <Sole> 6121</Sole>
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      <None>0</None>
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    <nameOfIssuer>REPLIGEN CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>759916109</cusip>
    <value> 694</value>
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    <nameOfIssuer>SITEONE LANDSCAPE SUPPLY INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>82982L103</cusip>
    <value> 638</value>
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      <Sole> 3197</Sole>
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      <None>0</None>
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    <nameOfIssuer>SURGERY PARTNERS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>86881A100</cusip>
    <value> 630</value>
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    <nameOfIssuer>SOLARWINDS CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>83417Q204</cusip>
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    <nameOfIssuer>ANAVEX LIFE SCIENCES CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>032797300</cusip>
    <value> 545</value>
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    <nameOfIssuer>COMMUNITY HEALTH SYSTEMS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>203668108</cusip>
    <value> 532</value>
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    <nameOfIssuer>SUNNOVA ENERGY INTERNATIONAL</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>86745K104</cusip>
    <value> 528</value>
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    <nameOfIssuer>MICROVAST HOLDINGS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>59516C106</cusip>
    <value> 515</value>
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    <nameOfIssuer>SONOCO PRODUCTS CO</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>835495102</cusip>
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      <Sole> 8627</Sole>
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    <nameOfIssuer>NORTHERN GENESIS ACQUISITI-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>66516W107</cusip>
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      <Sole> 52466</Sole>
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    <nameOfIssuer>CASTLE BIOSCIENCES INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>14843C105</cusip>
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    <nameOfIssuer>INTRA-CELLULAR THERAPIES INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>46116X101</cusip>
    <value> 452</value>
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    <nameOfIssuer>MSA SAFETY INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>553498106</cusip>
    <value> 420</value>
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      <Sole> 2883</Sole>
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    <nameOfIssuer>BANK OZK</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>06417N103</cusip>
    <value> 413</value>
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    <nameOfIssuer>ALLEGRO MICROSYSTEMS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>01749D105</cusip>
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    <nameOfIssuer>RENEWABLE ENERGY GROUP INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>75972A301</cusip>
    <value> 369</value>
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    <nameOfIssuer>AVID TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>05367P100</cusip>
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    <nameOfIssuer>ADVENT TECHNOLOGIES HOLDINGS</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>00788A105</cusip>
    <value> 353</value>
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      <Sole> 40522</Sole>
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    <nameOfIssuer>ADT INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>00090Q103</cusip>
    <value> 331</value>
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    <nameOfIssuer>AEMETIS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>00770K202</cusip>
    <value> 305</value>
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    <nameOfIssuer>GREENWICH LIFESCIENCES INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>396879108</cusip>
    <value> 287</value>
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      <sshPrnamt> 7358</sshPrnamt>
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    <nameOfIssuer>FORTRESS VALUE ACQUIS IV-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>34964K108</cusip>
    <value> 285</value>
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      <sshPrnamt> 29247</sshPrnamt>
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      <Sole> 29247</Sole>
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    <nameOfIssuer>USHG ACQUISITION CORP-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
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    <titleOfClass>Common Stock</titleOfClass>
    <cusip>88605T100</cusip>
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    <titleOfClass>Common Stock</titleOfClass>
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    <titleOfClass>Common Stock</titleOfClass>
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    <nameOfIssuer>CF ACQUISITION CORP VIII-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>12520C109</cusip>
    <value> 219</value>
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    <titleOfClass>Common Stock</titleOfClass>
    <cusip>88870R102</cusip>
    <value> 216</value>
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    <nameOfIssuer>ASANA INC - CL A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>04342Y104</cusip>
    <value> 215</value>
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    <nameOfIssuer>SPARTAN ACQUISITION III-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>84677R106</cusip>
    <value> 211</value>
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    <nameOfIssuer>FULL HOUSE RESORTS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>359678109</cusip>
    <value> 210</value>
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    <nameOfIssuer>ATHENA TECHNOLOGY ACQUISIT-A</nameOfIssuer>
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    <cusip>04687A109</cusip>
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    <titleOfClass>Common Stock</titleOfClass>
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    <nameOfIssuer>FLUX POWER HOLDINGS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>344057302</cusip>
    <value> 189</value>
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    <nameOfIssuer>PINE TECHNOLOGY ACQUISI-CL A</nameOfIssuer>
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    <nameOfIssuer>CF ACQUISITION CORP VI-CLS A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
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      <Sole> 18710</Sole>
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    <nameOfIssuer>NORTHERN GENESIS ACQUISITION</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>66516U101</cusip>
    <value> 179</value>
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    <nameOfIssuer>GIGCAPITAL4 INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>37518G101</cusip>
    <value> 177</value>
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      <sshPrnamt> 17986</sshPrnamt>
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      <Sole> 17986</Sole>
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    <nameOfIssuer>BROADWIND INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>11161T207</cusip>
    <value> 174</value>
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      <sshPrnamt> 67263</sshPrnamt>
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      <Sole> 67263</Sole>
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    <nameOfIssuer>SUNWORKS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>86803X204</cusip>
    <value> 172</value>
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      <sshPrnamt> 27966</sshPrnamt>
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      <Sole> 27966</Sole>
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    <nameOfIssuer>J ALEXANDER'S HOLDINGS</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>46609J106</cusip>
    <value> 168</value>
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      <sshPrnamt> 12004</sshPrnamt>
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      <Sole> 12004</Sole>
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    <nameOfIssuer>URANIUM ENERGY CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>916896103</cusip>
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    <nameOfIssuer>GORES METROPOULOS II INC-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
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    <nameOfIssuer>MCAP ACQUISITION CORP-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
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    <nameOfIssuer>DHB CAPITAL CORP-CL A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>23291W109</cusip>
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    <nameOfIssuer>ARROWROOT ACQUISITION CORP-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
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    <nameOfIssuer>TASTEMAKER ACQUISITION COR-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>876545104</cusip>
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    <nameOfIssuer>WARRIOR TECHNOLOGIES ACQ-A</nameOfIssuer>
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    <nameOfIssuer>ADVANCED MERGER PARTNERS I-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>00777J109</cusip>
    <value> 147</value>
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    <nameOfIssuer>TRIBE CAPITAL GROWTH CORP-A</nameOfIssuer>
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    <cusip>89601Y101</cusip>
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    <nameOfIssuer>SIMON PROPERTY GROUP ACQUI-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>82880R103</cusip>
    <value> 134</value>
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    <nameOfIssuer>BRIGHT LIGHTS ACQUISITI-CL A</nameOfIssuer>
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    <cusip>10920K101</cusip>
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    <nameOfIssuer>FINSERV ACQUISITION CORP-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
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    <nameOfIssuer>KENSINGTON CAPITAL ACQU-CL A</nameOfIssuer>
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    <cusip>49006L104</cusip>
    <value> 124</value>
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    <nameOfIssuer>SANDBRIDGE X2 CORP-A</nameOfIssuer>
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    <cusip>799792106</cusip>
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    <nameOfIssuer>CORAZON CAPITAL V838 MONOC-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>G24237102</cusip>
    <value> 113</value>
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    <nameOfIssuer>ATHLON ACQUISITION CORP-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>04748A106</cusip>
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    <nameOfIssuer>FTC SOLAR INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>30320C103</cusip>
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    <nameOfIssuer>EQUITY DISTRIBUTION ACQUIS-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>29465E106</cusip>
    <value> 107</value>
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    <nameOfIssuer>NOVUS CAPITAL CORP II-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>67012W104</cusip>
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      <sshPrnamt> 10255</sshPrnamt>
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    <nameOfIssuer>HORIZON ACQUIS CORP II -CL A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>G46044106</cusip>
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      <sshPrnamt> 10217</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10217</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATLAS CREST INVESTMENT COR-A</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>049287105</cusip>
    <value> 98</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10057</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RR DONNELLEY &amp; SONS CO</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>257867200</cusip>
    <value> 93</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18091</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18091</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PLAYAGS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>72814N104</cusip>
    <value> 85</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10741</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10741</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEURONETICS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>64131A105</cusip>
    <value> 72</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11049</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STEREOTAXIS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>85916J409</cusip>
    <value> 61</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLD RESOURCE CORP</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>38068T105</cusip>
    <value> 16</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10508</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PULSE NETWORK INC/THE</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>74586X203</cusip>
    <value> 2</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7123999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7123999</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LANS HOLDINGS INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>51603M303</cusip>
    <value> 0</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42847</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42847</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANNABIS SCIENCE INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>137648101</cusip>
    <value> 0</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24737</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUANTUMSPHERE INC</nameOfIssuer>
    <titleOfClass>Common Stock</titleOfClass>
    <cusip>74766K104</cusip>
    <value> 0</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2206549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2206549</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JAN 21 2022     3.750 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JW5M</cusip>
    <value> 44197</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 104000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 104000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   DEC 31 2021     1.570 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DSCN</cusip>
    <value> 26347</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 121600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 121600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAY 31 2022     3.360 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462KCXM</cusip>
    <value> 19446</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 45800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 45800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   APR 29 2022     3.340 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J9NQ</cusip>
    <value> 18378</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 43300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   NOV 10 2021     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FCQF</cusip>
    <value> 12737</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   DEC 31 2021     2.970 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JVMS</cusip>
    <value> 12128</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 31 2022     3.160 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J4MF</cusip>
    <value> 10526</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 18 2022     3.910 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FIBA</cusip>
    <value> 6926</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   MAR 31 2022     1.770 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>4642880DL</cusip>
    <value> 3909</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   OCT 15 2021     3.460 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JNEW</cusip>
    <value> 3667</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JAN 31 2022     2.960 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JYUM</cusip>
    <value> 3662</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EEM   DEC 31 2021     0.410 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DR6N</cusip>
    <value> 3577</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 72400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 72400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 18 2022     3.890 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J3ZN</cusip>
    <value> 3220</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   DEC 15 2021     0.010 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JD9Y</cusip>
    <value> 3139</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   APR 18 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462I5QU</cusip>
    <value> 2987</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 31 2022     3.170 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J4MC</cusip>
    <value> 2886</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   DEC 17 2021     0.730 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428K8VZ</cusip>
    <value> 2113</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   NOV 17 2021   406.690 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462F5LL</cusip>
    <value> 1759</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 60100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 60100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAY 20 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462I70V</cusip>
    <value> 1622</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   SEP 30 2022   185.940 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428BH2M</cusip>
    <value> 1585</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 143500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 143500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 28 2022     3.030 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J1UF</cusip>
    <value> 1576</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JUN 30 2022     6.510 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462KGCL</cusip>
    <value> 1512</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   DEC 31 2021    79.400 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DR2A</cusip>
    <value> 1481</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 933200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 933200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   NOV 16 2021     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JGTM</cusip>
    <value> 1458</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   SEP 30 2022   247.340 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428BH3E</cusip>
    <value> 1255</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 143500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 143500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JUN 17 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JB1L</cusip>
    <value> 1234</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   DEC 15 2021     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JJVO</cusip>
    <value> 1201</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAY 31 2022   420.040 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462KCXK</cusip>
    <value> 1181</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 45800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 45800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    JUN 17 2022    53.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287E1A</cusip>
    <value> 1140</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 200000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   220.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428JX4X</cusip>
    <value> 1086</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   219.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428LG2Q</cusip>
    <value> 1080</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 110000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 110000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 18 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FMJH</cusip>
    <value> 1066</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JUN 30 2022     6.420 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462KGCD</cusip>
    <value> 1008</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   JUN 30 2022   194.960 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288TTQ</cusip>
    <value> 994</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 93000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 93000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   APR 29 2022   417.300 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J9NO</cusip>
    <value> 985</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 43300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JAN 14 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JNCK</cusip>
    <value> 984</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   AUG 31 2022   406.620 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462GVOW</cusip>
    <value> 937</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EEM   JUN 30 2022    46.880 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288S0O</cusip>
    <value> 905</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 315500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 315500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 28 2022   446.620 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J1TU</cusip>
    <value> 849</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 72900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 72900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JUN 17 2022     1.010 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J3XB</cusip>
    <value> 808</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 16 2022   215.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428JWBV</cusip>
    <value> 790</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 35000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    MAR 18 2022   220.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428LIRU</cusip>
    <value> 766</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 50000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   230.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428J94B</cusip>
    <value> 714</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 44000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 44000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JUL 29 2022   393.830 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462KKDT</cusip>
    <value> 704</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 18 2022     1.010 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JUKG</cusip>
    <value> 682</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAY 17 2022     1.010 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FFUN</cusip>
    <value> 640</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   APR 13 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JXIX</cusip>
    <value> 555</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   DEC 31 2021   196.060 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DSCA</cusip>
    <value> 545</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 121600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 121600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   DEC 31 2021    62.020 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DR2N</cusip>
    <value> 489</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 933200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 933200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    MAR 18 2022    50.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428LHEB</cusip>
    <value> 484</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 150000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   JUN 30 2022   251.500 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288TRQ</cusip>
    <value> 475</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 93000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 93000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    MAR 18 2022    53.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428GTXA</cusip>
    <value> 472</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JAN 21 2022   356.920 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JW5K</cusip>
    <value> 472</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 104000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 104000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    DEC 17 2021    54.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428F1PF</cusip>
    <value> 470</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   225.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428C06H</cusip>
    <value> 430</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 28 2022   346.130 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J1TX</cusip>
    <value> 404</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 72900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 72900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    MAR 18 2022   175.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428LIPZ</cusip>
    <value> 396</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    DEC 17 2021    50.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428F1YR</cusip>
    <value> 321</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 150000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2IWM   MAR 31 2022   220.940 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>4642880IZ</cusip>
    <value> 299</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   210.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428C1FH</cusip>
    <value> 299</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   AUG 19 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JG9M</cusip>
    <value> 298</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   JUL 15 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JD3F</cusip>
    <value> 298</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   SEP 19 2022     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JKEC</cusip>
    <value> 297</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    JUN 17 2022    47.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287DPE</cusip>
    <value> 296</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   200.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>4642880UB</cusip>
    <value> 291</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   225.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428C05H</cusip>
    <value> 284</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EEM   MAR 31 2022    45.340 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288YVL</cusip>
    <value> 283</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 163300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 163300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 31 2022   376.510 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J4KY</cusip>
    <value> 279</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JAN 21 2022   215.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287NEL</cusip>
    <value> 278</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   144.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>4642884JG</cusip>
    <value> 264</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    JAN 21 2022    49.500 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464289AWC</cusip>
    <value> 236</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   190.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>4642880ZB</cusip>
    <value> 226</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EEM   DEC 31 2021    51.670 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DR5N</cusip>
    <value> 225</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 72400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 72400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JAN 21 2022   215.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287NCY</cusip>
    <value> 212</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 10 2023     1.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FMLT</cusip>
    <value> 212</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EEM   JUN 30 2022    59.990 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288S8G</cusip>
    <value> 203</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 315500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 315500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   215.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428C1EH</cusip>
    <value> 197</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   APR 29 2022   376.370 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J96I</cusip>
    <value> 191</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JAN 21 2022   220.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287N6T</cusip>
    <value> 190</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 18 2022   390.040 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FIGA</cusip>
    <value> 176</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 30 2022   215.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428MMCR</cusip>
    <value> 173</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAY 31 2022   377.700 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462KCZC</cusip>
    <value> 172</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JUN 17 2022   215.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428C09H</cusip>
    <value> 169</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    JAN 20 2023   195.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DGOC</cusip>
    <value> 159</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    JAN 21 2022    47.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428GJHG</cusip>
    <value> 154</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   215.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428JWBS</cusip>
    <value> 153</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   MAR 31 2022    83.080 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288XWA</cusip>
    <value> 147</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 114700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 114700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   MAR 31 2022    64.490 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288X4P</cusip>
    <value> 144</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 114700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 114700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   DEC 31 2021   373.890 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462JU4B</cusip>
    <value> 143</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   MAR 31 2022   360.670 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FAJQ</cusip>
    <value> 113</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   215.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428JWBT</cusip>
    <value> 110</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    OCT 15 2021   215.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428GR3A</cusip>
    <value> 107</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   FEB 28 2022   350.490 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462J2CA</cusip>
    <value> 105</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   245.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428AICF</cusip>
    <value> 103</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    NOV 19 2021   220.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428LVWI</cusip>
    <value> 87</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   JUL 06 2022    78.820 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287ANZ</cusip>
    <value> 78</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    DEC 17 2021   240.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428DOUP</cusip>
    <value> 78</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 44000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 44000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    OCT 15 2021   215.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428GS4N</cusip>
    <value> 65</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EFA    OCT 15 2021    78.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428F1GA</cusip>
    <value> 59</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 55000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 55000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    NOV 19 2021   240.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428LVWP</cusip>
    <value> 43</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 50000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EEM   MAR 31 2022    60.270 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464288YEC</cusip>
    <value> 41</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 163300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 163300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IWM    OCT 15 2021   208.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428GSKA</cusip>
    <value> 40</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EFA    NOV 19 2021    71.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428F9XA</cusip>
    <value> 34</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 55000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 55000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   DEC 17 2021    72.670 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428K8WB</cusip>
    <value> 34</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    OCT 29 2021    45.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428FBZC</cusip>
    <value> 33</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 131500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 131500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2EFA   SEP 20 2022    82.600 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464287LWV</cusip>
    <value> 31</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   NOV 17 2021   320.650 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462F5NL</cusip>
    <value> 30</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 60600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 60600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    OCT 08 2021    48.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428AY3I</cusip>
    <value> 14</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 80000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EFA    JAN 21 2022    60.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428GJ4G</cusip>
    <value> 13</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    OCT 15 2021    47.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428AW2X</cusip>
    <value> 11</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 50000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>2SPY   NOV 10 2021   321.600 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78462FCRF</cusip>
    <value> 9</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EFA    NOV 19 2021    84.000 C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46428F0ZN</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 55000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 55000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EEM    SEP 30 2021    50.000 P</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>464289RVS</cusip>
    <value> 0</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 131500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 131500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTRESS VALUE ACQ IV -CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>34964K116</cusip>
    <value> 17</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21374</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVANCED MERGER PART -CW26</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>00777J117</cusip>
    <value> 16</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19970</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19970</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIGHTJUMP ACQUISITION -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>53228M114</cusip>
    <value> 12</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22620</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUSTAINABLE DEVELOP A -CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>86934L111</cusip>
    <value> 12</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17559</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D AND Z MEDIA ACQ CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>23305Q114</cusip>
    <value> 11</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17933</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TCW SPECIAL PURPOSE AC- CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>87301L114</cusip>
    <value> 11</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17758</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17758</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEAPORT GLOBAL ACQ A -CW25</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>812227114</cusip>
    <value> 11</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11331</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLASS HOUSES ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>37714P111</cusip>
    <value> 10</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14872</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EDIFY ACQ CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>28059Q111</cusip>
    <value> 10</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17348</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MDH ACQ CL A -CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>55283P114</cusip>
    <value> 10</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17868</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEVEN OAKS ACQ CL A -CW25</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>81787X114</cusip>
    <value> 10</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12291</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEWBURY STREET ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>65101L112</cusip>
    <value> 9</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19229</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19229</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KINGSWOOD ACQ CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>496861113</cusip>
    <value> 9</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19099</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19099</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROSECLIFF ACQ A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>77732R111</cusip>
    <value> 9</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16625</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>7GC &amp; CO HOLDINGS CL A -CW26</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>81786A115</cusip>
    <value> 9</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15227</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Z-WORK ACQ CL A -CW26</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>98880C110</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13227</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLARIM ACQ CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>18049C116</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13210</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PINE TECHNOLOGY ACQ A -CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>722850112</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11664</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JOFF FINTECH ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>46592C118</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12113</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLENFARNE MERGER CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>378579114</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11555</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUP NINE ACQ CL A -CW26</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>39947R112</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10826</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASON INDUSTRIAL CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>57520Y114</cusip>
    <value> 8</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10512</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10512</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORION ACQUISITION CL A -CW26</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>68626A116</cusip>
    <value> 7</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11658</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IGNYTE ACQUISITION -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>45175H114</cusip>
    <value> 7</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MONUMENT CIRC ACQ CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>61531M119</cusip>
    <value> 7</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12457</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12457</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EAST RESOURCES ACQUIS -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>274681113</cusip>
    <value> 7</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11072</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11072</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LMF ACQUISITION OPP -A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>502015118</cusip>
    <value> 7</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14537</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FUSION ACQ II CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>36118N110</cusip>
    <value> 7</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10042</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10042</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EG ACQUISITION CORP-A -CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>26846A118</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10986</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>EVO ACQUISITION A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>30052G116</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11310</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ADIT EDTECH ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>007024110</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12502</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BETTER WORLD ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>08772B112</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10038</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10038</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EQ HEALTH ACQ A -CW28</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>26886A119</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10551</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>KADEM SUSTAINABLE CL A -CW26</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>48284E113</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12172</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12172</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CHP MERGER CORP -CW24</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>12558Y114</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10189</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10189</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MALLARD ACQUISITION -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>561204116</cusip>
    <value> 6</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18266</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EDTECHX HOLD II CL A -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>28139A110</cusip>
    <value> 5</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10476</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BENESSERE CAPITAL ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>08179B111</cusip>
    <value> 5</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10770</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10770</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VIVEON HEALTH ACQ -CW27</nameOfIssuer>
    <titleOfClass>Equity WRT</titleOfClass>
    <cusip>92853V114</cusip>
    <value> 5</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18485</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI ALL COUNTRY ASI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288182</cusip>
    <value> 90366</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1064009</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1064009</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI TAIWAN ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G772</cusip>
    <value> 75474</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1217125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1217125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>XTRACKERS HARVEST CSI 300 CH</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051879</cusip>
    <value> 63899</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1676696</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1676696</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WISDMTREE EMERG MKT EX-ST OW</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717X578</cusip>
    <value> 61330</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1643365</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1643365</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>KRANESHARES CSI CHINA INTERN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767306</cusip>
    <value> 58764</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1241853</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1241853</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI SOUTH KOREA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286772</cusip>
    <value> 51880</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 643199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 643199</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO EMERGING MARK</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X509</cusip>
    <value> 45709</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1074737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1074737</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VANGUARD TOTAL INTL STOCK</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921909768</cusip>
    <value> 45520</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 719566</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 719566</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VANGUARD S/T CORP BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C409</cusip>
    <value> 41233</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 500337</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 500337</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SCHWAB EMERGING MARKETS EQUI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524706</cusip>
    <value> 39759</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1304419</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1304419</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI EAFE SMALL-CAP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288273</cusip>
    <value> 33892</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 455479</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 455479</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI HONG KONG ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286871</cusip>
    <value> 33777</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1408567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1408567</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P CHINA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X400</cusip>
    <value> 32823</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 297171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 297171</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI UNITED KINGDOM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G334</cusip>
    <value> 32296</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1001436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1001436</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANECK GOLD MINERS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F106</cusip>
    <value> 29329</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 995211</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 995211</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EMERGING MRKTS INTERNET &amp; EC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>301505889</cusip>
    <value> 26907</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 542583</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 542583</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P EMERGING ASIA PACIF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X301</cusip>
    <value> 20489</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 165128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 165128</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE EMERGING MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W315</cusip>
    <value> 19889</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 455866</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 455866</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI INDIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B598</cusip>
    <value> 18732</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 384711</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 384711</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ASIA 50 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288430</cusip>
    <value> 17426</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 222840</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 222840</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANGUARD TOT WORLD STK ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>922042742</cusip>
    <value> 17281</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 169708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 169708</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORT INT CORP BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A375</cusip>
    <value> 16775</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 459328</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 459328</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES 7-10 YEAR TREASURY B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287440</cusip>
    <value> 16665</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 144640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 144640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES IBOXX INVESTMENT GRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287242</cusip>
    <value> 16214</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 121882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 121882</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CORE MSCI PACIFIC ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V696</cusip>
    <value> 15411</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 230156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 230156</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CHINA TECHNOLOGY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E800</cusip>
    <value> 15174</value>
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      <sshPrnamt> 230676</sshPrnamt>
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    <cusip>81369Y605</cusip>
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      <sshPrnamt> 396339</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 396339</Sole>
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      <None>0</None>
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    <nameOfIssuer>INVESCO SENIOR LOAN ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138G508</cusip>
    <value> 14726</value>
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      <sshPrnamt> 666020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole> 666020</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES 20 PLUS  YEAR TREASURY BO</nameOfIssuer>
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    <cusip>464287432</cusip>
    <value> 14124</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 97867</sshPrnamt>
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    <votingAuthority>
      <Sole> 97867</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES SUSTAINABLE MSCI GLB</nameOfIssuer>
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    <cusip>46435G532</cusip>
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      <sshPrnamt> 140210</sshPrnamt>
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      <Sole> 140210</Sole>
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    <nameOfIssuer>ISHARES EMERGING MARKETS DIV</nameOfIssuer>
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    <cusip>464286319</cusip>
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      <sshPrnamt> 329640</sshPrnamt>
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    <votingAuthority>
      <Sole> 329640</Sole>
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      <None>0</None>
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    <nameOfIssuer>INVESCO QQQ TRUST SERIES 1</nameOfIssuer>
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    <cusip>46090E103</cusip>
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      <sshPrnamt> 35459</sshPrnamt>
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    <nameOfIssuer>WISDOMTREE CHINA EX-ST OW</nameOfIssuer>
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      <sshPrnamt> 237488</sshPrnamt>
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    <votingAuthority>
      <Sole> 237488</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI FRANCE ETF</nameOfIssuer>
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    <cusip>464286707</cusip>
    <value> 12491</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 335413</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 335413</Sole>
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      <None>0</None>
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    <nameOfIssuer>SPDR PORTFOLIO AGGREGATE BON</nameOfIssuer>
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    <cusip>78464A649</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt> 406603</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 406603</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI EAFE MIN VOL FA</nameOfIssuer>
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    <cusip>46429B689</cusip>
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      <sshPrnamt> 161067</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 161067</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES CORE MSCI EUROPE ETF</nameOfIssuer>
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    <cusip>46434V738</cusip>
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      <sshPrnamt> 215298</sshPrnamt>
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    <votingAuthority>
      <Sole> 215298</Sole>
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    <cusip>381430107</cusip>
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      <sshPrnamt> 350139</sshPrnamt>
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      <Sole> 350139</Sole>
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    <cusip>464287176</cusip>
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      <sshPrnamt> 91417</sshPrnamt>
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      <Sole> 91417</Sole>
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      <None>0</None>
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      <sshPrnamt> 134074</sshPrnamt>
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      <Sole> 134074</Sole>
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      <None>0</None>
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    <nameOfIssuer>SPDR EURO STOXX 50 ETF</nameOfIssuer>
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    <cusip>78463X202</cusip>
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      <sshPrnamt> 249053</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 249053</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI ITALY ETF</nameOfIssuer>
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    <cusip>46434G830</cusip>
    <value> 11169</value>
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      <sshPrnamt> 352894</sshPrnamt>
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      <Sole> 352894</Sole>
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      <None>0</None>
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    <nameOfIssuer>SCHWAB US AGGREGATE BOND ETF</nameOfIssuer>
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    <cusip>808524839</cusip>
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      <sshPrnamt> 203420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole> 203420</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI EMERG MRKT ASIA</nameOfIssuer>
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    <cusip>464286426</cusip>
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      <sshPrnamt> 125325</sshPrnamt>
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    <nameOfIssuer>SCHWAB INTL EQUITY ETF</nameOfIssuer>
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    <cusip>808524805</cusip>
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      <sshPrnamt> 266150</sshPrnamt>
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      <Sole> 266150</Sole>
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    <nameOfIssuer>VANGUARD INT HIGH DVD YLD IN</nameOfIssuer>
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    <cusip>921946794</cusip>
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    <nameOfIssuer>VANGUARD SMALL-CAP GRWTH ETF</nameOfIssuer>
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    <cusip>922908595</cusip>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI ACWI EX US ETF</nameOfIssuer>
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    <cusip>464288240</cusip>
    <value> 9808</value>
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      <sshPrnamt> 177008</sshPrnamt>
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    <votingAuthority>
      <Sole> 177008</Sole>
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    <nameOfIssuer>VANGUARD FTSE EUROPE ETF</nameOfIssuer>
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    <cusip>922042874</cusip>
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      <sshPrnamt> 149211</sshPrnamt>
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      <Sole> 149211</Sole>
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    <nameOfIssuer>ISHARES CORE 1-5 YEAR USD BO</nameOfIssuer>
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    <cusip>46432F859</cusip>
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      <sshPrnamt> 189821</sshPrnamt>
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      <Sole> 189821</Sole>
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    <nameOfIssuer>ISHARES MSCI EMR MRK EX CHNA</nameOfIssuer>
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    <cusip>46434G764</cusip>
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    <nameOfIssuer>ISHARES MSCI GLOBAL MIN VOL</nameOfIssuer>
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    <nameOfIssuer>US GLOBAL JETS ETF</nameOfIssuer>
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    <nameOfIssuer>GLOBAL X MSCI CHINA CONSUMER</nameOfIssuer>
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    <nameOfIssuer>SPDR PORTFOLIO DEVELOPED WOR</nameOfIssuer>
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    <nameOfIssuer>SPDR DOW JONES REIT ETF</nameOfIssuer>
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    <nameOfIssuer>VANGUARD FTSE ALL WO X-US SC</nameOfIssuer>
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      <Sole> 199224</Sole>
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    <nameOfIssuer>ISHARES TRUST ISHARES ESG AW</nameOfIssuer>
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    <cusip>46435G516</cusip>
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      <sshPrnamt> 97740</sshPrnamt>
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    <nameOfIssuer>GLOBAL X NASD 100 COV CALL</nameOfIssuer>
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      <Sole> 129284</Sole>
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    <nameOfIssuer>ISHARES MSCI CHINA A ETF</nameOfIssuer>
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    <votingAuthority>
      <Sole> 147126</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI EAFE GROWTH ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288885</cusip>
    <value> 6166</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57914</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57914</Sole>
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      <None>0</None>
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    <nameOfIssuer>HARTFORD MULTIFACTOR DEVELOP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>518416102</cusip>
    <value> 6114</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 203129</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 203129</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>INVESCO S&amp;P INTERNATIONAL DE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E230</cusip>
    <value> 5911</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 192987</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 192987</Sole>
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      <None>0</None>
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    <nameOfIssuer>SCHWAB US SMALL-CAP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524607</cusip>
    <value> 5884</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 58777</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 58777</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>PROSHARES ULTRA TECHNOLOGY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R693</cusip>
    <value> 5856</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 58923</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 58923</Sole>
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      <None>0</None>
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    <nameOfIssuer>VANGUARD INTERMEDIATE-TERM B</nameOfIssuer>
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    <cusip>921937819</cusip>
    <value> 5816</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 65032</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 65032</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>SPDR S&amp;P RETAIL ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A714</cusip>
    <value> 5816</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 64392</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 64392</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ISHARES CORE U.S. AGGREGATE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287226</cusip>
    <value> 5794</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 50460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 50460</Sole>
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      <None>0</None>
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    <nameOfIssuer>DIMENSIONAL INTERNATIONAL CO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25434V203</cusip>
    <value> 5529</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 191254</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 191254</Sole>
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      <None>0</None>
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    <nameOfIssuer>VANGUARD TOTAL INTL BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92203J407</cusip>
    <value> 5503</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 96606</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 96606</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI GERMANY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286806</cusip>
    <value> 5502</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 167143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 167143</Sole>
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      <None>0</None>
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    <nameOfIssuer>FRANKLIN FTSE JPN HEDGED ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P637</cusip>
    <value> 5352</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 166699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 166699</Sole>
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      <None>0</None>
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    <nameOfIssuer>VANECK FALLEN ANGEL HIGH YLD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F437</cusip>
    <value> 5336</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 161460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 161460</Sole>
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      <None>0</None>
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    <nameOfIssuer>VANECK SEMICONDUCTOR ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F676</cusip>
    <value> 5184</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20230</Sole>
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      <None>0</None>
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    <nameOfIssuer>XTRACKERS MSCI EAFE HEDGED E</nameOfIssuer>
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    <cusip>233051200</cusip>
    <value> 5165</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 136792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 136792</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>JANUS HENDERSON MORTG BACKED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>47103U852</cusip>
    <value> 5142</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 96736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 96736</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CONSUMER STAPLES SPDR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>81369Y308</cusip>
    <value> 5078</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 73769</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 73769</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI SPAIN ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286764</cusip>
    <value> 4979</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 184602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 184602</Sole>
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      <None>0</None>
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    <nameOfIssuer>INNOVAT S&amp;P INVEST GRD PREF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783G201</cusip>
    <value> 4911</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 203954</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 203954</Sole>
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      <None>0</None>
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    <nameOfIssuer>SPDR S&amp;P INTER DVD ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X772</cusip>
    <value> 4871</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 128283</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 128283</Sole>
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      <None>0</None>
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    <nameOfIssuer>INVESCO SOLAR ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138G706</cusip>
    <value> 4781</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 59799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 59799</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES U.S. HOME CONSTRUCTI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288752</cusip>
    <value> 4726</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 71411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 71411</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>KRANESH BOSERA MSCI CHINA A</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767405</cusip>
    <value> 4663</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 101951</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 101951</Sole>
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      <None>0</None>
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    <nameOfIssuer>DIMENSIONAL WORLD EX US CORE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25434V880</cusip>
    <value> 4654</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 179839</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 179839</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES NATIONAL MUNI BOND E</nameOfIssuer>
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    <cusip>464288414</cusip>
    <value> 4624</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 39807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39807</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIRST TRUST GLOBAL TACTICAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739H101</cusip>
    <value> 4566</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 189399</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 189399</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI GLOBAL GOLD MIN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G855</cusip>
    <value> 4386</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 178365</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 178365</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIRST TRUST STRATEGIC INCOME</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739Q309</cusip>
    <value> 4378</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 88909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 88909</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES ASIA/PACIFIC DIVIDEN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286293</cusip>
    <value> 4349</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 115853</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 115853</Sole>
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      <None>0</None>
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    <nameOfIssuer>KRANESHARES MSCI CHINA CLEAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767850</cusip>
    <value> 4330</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 98672</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 98672</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIRST TRUST EMERGING MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J182</cusip>
    <value> 4312</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 160105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 160105</Sole>
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      <None>0</None>
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    <nameOfIssuer>VANGUARD S&amp;P SMALL-CAP 600 V</nameOfIssuer>
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    <cusip>921932778</cusip>
    <value> 4274</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24558</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24558</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES JP MORGAN USD EMERGI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288281</cusip>
    <value> 4216</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 38307</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 38307</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>XTRACKERS MSCI EUROPE HEDGED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051853</cusip>
    <value> 4212</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 123312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 123312</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JANUS HENDERSON AAA CLO ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>47103U845</cusip>
    <value> 4205</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 83227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 83227</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR BLOOMBERG HIGH YIELD BO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78468R622</cusip>
    <value> 4201</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 38416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 38416</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMPLIFY BLACKSWAN GROWTH TSY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>032108888</cusip>
    <value> 4184</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 122236</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 122236</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST DEVELP MKT EX-US</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J174</cusip>
    <value> 4152</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 68120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 68120</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VICTORYSHARES USAA CORE SHOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92647N535</cusip>
    <value> 4123</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 79607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 79607</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INDIA 50 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289529</cusip>
    <value> 4103</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 79523</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 79523</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P REGIONAL BANKING</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A698</cusip>
    <value> 4091</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 60380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 60380</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI AUSTRALIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286103</cusip>
    <value> 3978</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 160276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 160276</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2021 HI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J809</cusip>
    <value> 3950</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 171802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 171802</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG ADVANC MSCI EAFE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46436E759</cusip>
    <value> 3915</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE EM SMALL CAP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W281</cusip>
    <value> 3896</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 72848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 72848</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST MUNICIPAL HIGH I</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739P301</cusip>
    <value> 3892</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 69792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 69792</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG AWARE 1-5 YEAR U</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G243</cusip>
    <value> 3890</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 149726</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 149726</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P EMERGING MKTS SMALL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X756</cusip>
    <value> 3838</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 65434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 65434</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVIS SELECT INTERNATIONAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>23908L405</cusip>
    <value> 3826</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 194526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 194526</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVIS SELECT WORLDWIDE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>23908L306</cusip>
    <value> 3814</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 128343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 128343</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG AWARE MSCI USA S</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435U663</cusip>
    <value> 3771</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 96655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 96655</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST EUROPE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J117</cusip>
    <value> 3535</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 84350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 84350</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VICTORYSHARES USAA MSCI INTE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92647N550</cusip>
    <value> 3497</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 71910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 71910</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO S&amp;P SMALLCAP 600 PUR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46137V167</cusip>
    <value> 3496</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37611</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37611</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPM DIVERSIFIED RET INTL EQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q209</cusip>
    <value> 3401</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56386</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56386</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO RAFI STRATEGIC DEVE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J726</cusip>
    <value> 3386</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 112684</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 112684</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK RARE EARTH/STRAT MET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189H805</cusip>
    <value> 3330</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32266</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>X-LINKS CRUDE OIL COV CALL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>22539T266</cusip>
    <value> 3305</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 615449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 615449</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INT-TERM CORPORATE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C870</cusip>
    <value> 3166</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 33531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 33531</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL EMERGING CORE EQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25434V302</cusip>
    <value> 3163</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 116084</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 116084</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X SUPERDIVIDEND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37950E549</cusip>
    <value> 3059</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 231221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 231221</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C383</cusip>
    <value> 3027</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 98690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 98690</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>X-LINKS SLVR SHRS COVRD CALL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>22542D449</cusip>
    <value> 2907</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 574508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 574508</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPM US AGG BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q241</cusip>
    <value> 2862</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 52732</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 52732</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST TCW UNCONSTRAINE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F888</cusip>
    <value> 2858</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 107531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 107531</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST GERMANY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J190</cusip>
    <value> 2858</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 52047</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 52047</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO FTSE RAFI EMERGING M</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E727</cusip>
    <value> 2789</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 124854</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 124854</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CORE MODERATE ALLOCA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289875</cusip>
    <value> 2775</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 62033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 62033</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORT SHRT TRM CORP BND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A474</cusip>
    <value> 2760</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 88319</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 88319</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB FUNDAMENTAL EM L/C</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524730</cusip>
    <value> 2748</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 85263</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 85263</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG AWARE US AGGREGA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435U549</cusip>
    <value> 2715</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 49243</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 49243</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ONLINE RETAIL ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347B169</cusip>
    <value> 2694</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 41039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 41039</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST TCW SEC PLUS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740U109</cusip>
    <value> 2680</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 103305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 103305</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PRINCIPAL INT MULTI-FACT IND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74255Y797</cusip>
    <value> 2667</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 86000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 86000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES RUSSELL 2000 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287655</cusip>
    <value> 2607</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11916</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST MANAGED MUNICIPA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739N108</cusip>
    <value> 2590</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 45623</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 45623</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VELOCITYSHARES 3X LONG GOLD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>22542D316</cusip>
    <value> 2587</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI UNITED KINGDOM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B416</cusip>
    <value> 2533</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 54300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 54300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI JAPAN VALUE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435U374</cusip>
    <value> 2499</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 86967</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 86967</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD MORTGAGE-BACKED SEC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C771</cusip>
    <value> 2480</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 46546</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 46546</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X S&amp;P 500 COVE CALL E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y475</cusip>
    <value> 2479</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 51072</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 51072</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AVANTIS US SMALL CAP VALUE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>025072877</cusip>
    <value> 2475</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32733</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32733</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO S&amp;P 600 SMALL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78468R853</cusip>
    <value> 2452</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57549</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA NASD BIOTECH</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R214</cusip>
    <value> 2419</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25483</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25483</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST NASDAQ-100 BUFF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F649</cusip>
    <value> 2403</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 108579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 108579</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO RAFI DYNAMIC MULTI-FAC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72202L371</cusip>
    <value> 2374</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 80997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 80997</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE INTERNATIONAL MUL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717Y774</cusip>
    <value> 2373</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 91738</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 91738</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD LONG-TERM BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921937793</cusip>
    <value> 2372</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23179</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23179</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK SH HI YLD MUNI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F387</cusip>
    <value> 2344</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 93396</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 93396</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST INDIA NIFTY 50 E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J802</cusip>
    <value> 2339</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 47555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 47555</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RENAISSANCE INTL IPO ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>759937303</cusip>
    <value> 2314</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 77316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 77316</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED STATES COMMODITY INDE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>911717106</cusip>
    <value> 2311</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56516</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56516</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEUCRIUM SOYBEAN FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>88166A607</cusip>
    <value> 2293</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 104146</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 104146</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO EUROPE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X103</cusip>
    <value> 2292</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56165</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56165</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES GLOBAL 100 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287572</cusip>
    <value> 2274</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31967</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31967</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR DOUBLE STACKER OCT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C185</cusip>
    <value> 2262</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 72785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 72785</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO 1-5 YEAR US TIPS INDEX</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R205</cusip>
    <value> 2243</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 40883</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 40883</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST FUND OF BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F755</cusip>
    <value> 2234</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 97358</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 97358</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR US EQY ACCEL 9 BUF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783Y301</cusip>
    <value> 2225</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 84008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 84008</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CORE CONSERVATIVE AL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289883</cusip>
    <value> 2224</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56295</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56295</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI SWEDEN ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286756</cusip>
    <value> 2204</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 49151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 49151</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI INTL MOMENTUM F</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V449</cusip>
    <value> 2199</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57742</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57742</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE EUR S/C DIVIDEND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W869</cusip>
    <value> 2176</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 30300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 30300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIDELITY INTL VAL FACTOR ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>316092717</cusip>
    <value> 2173</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 91296</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 91296</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES 1-5Y INV GRADE CORP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288646</cusip>
    <value> 2170</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 39719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39719</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR LADDERED FUND OF U</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783G102</cusip>
    <value> 2139</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 61294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 61294</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI MALAYSIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G814</cusip>
    <value> 2132</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 84143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 84143</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2024 HI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J833</cusip>
    <value> 2103</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 84004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 84004</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CURRENCY HEDGED MSCI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V639</cusip>
    <value> 2101</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 58267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 58267</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL INTERNATIONAL VA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25434V807</cusip>
    <value> 2054</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 62726</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 62726</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES BROAD USD INVESTMENT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288620</cusip>
    <value> 2053</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34163</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO ACTIVE BOND EXCHANGE-T</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R775</cusip>
    <value> 2051</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18556</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18556</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO ENHANCED SHORT MATURIT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R833</cusip>
    <value> 2042</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20033</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES 3-7 YEAR TREASURY BO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288661</cusip>
    <value> 2040</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15673</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15673</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APTUS DRAWDOWN MANAGED EQUIT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26922A784</cusip>
    <value> 2037</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 51664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 51664</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2021 CO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J700</cusip>
    <value> 2036</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 96527</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 96527</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE INTERNATIONAL HIG</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W802</cusip>
    <value> 2019</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 53297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 53297</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI INTERNATIONAL M</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V274</cusip>
    <value> 2015</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 69426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 69426</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO S&amp;P 500 DOWNSIDE HED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46090A705</cusip>
    <value> 2010</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56262</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUVEEN ESG INTERNATIONAL DEV</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>67092P805</cusip>
    <value> 1996</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 63670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 63670</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL US TARGET VALUE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25434V609</cusip>
    <value> 1994</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 44904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 44904</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA OIL &amp; GAS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G705</cusip>
    <value> 1993</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29241</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES DEVELOPED MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33939L647</cusip>
    <value> 1992</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 73279</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 73279</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ABERDEEN STANDARD PHYSICAL P</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>003263100</cusip>
    <value> 1985</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER US SMALL CAP CASH COWS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H857</cusip>
    <value> 1974</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 46541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 46541</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES 0-5 YR INV GRD CORP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V100</cusip>
    <value> 1951</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37744</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DWA EMERGING MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E867</cusip>
    <value> 1946</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 80061</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 80061</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULT MSCI EMER MKTS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347X302</cusip>
    <value> 1941</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21874</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE INTERNATIONAL EQU</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W703</cusip>
    <value> 1898</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35893</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 35893</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE ENHANCED COMMODIT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717Y683</cusip>
    <value> 1861</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 83441</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 83441</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APTUS DEFINED RISK ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26922A388</cusip>
    <value> 1859</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 64920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 64920</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST RIVERFRONT DYNAM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739P707</cusip>
    <value> 1816</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27018</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA REAL ESTATE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347X625</cusip>
    <value> 1777</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19817</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19817</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMPLIFY CWP ENHANCED DIVIDEN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>032108409</cusip>
    <value> 1776</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 50850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 50850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C375</cusip>
    <value> 1762</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 60504</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 60504</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB FUNDAMENTAL INTL S/C</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524748</cusip>
    <value> 1751</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 45233</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 45233</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN LIBERTYQ EMERGING</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P207</cusip>
    <value> 1748</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57253</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57253</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKROCK SHORT MATURITY BON</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46431W507</cusip>
    <value> 1729</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34492</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34492</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA MSCI EAFE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347X500</cusip>
    <value> 1725</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34634</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34634</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES FALLEN ANGELS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G474</cusip>
    <value> 1723</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57229</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57229</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO S&amp;P SMALLCAP VALUE W</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46137V480</cusip>
    <value> 1692</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 33606</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 33606</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CORE GROWTH ALLOCATI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289867</cusip>
    <value> 1657</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29879</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29879</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION DAILY DOW JONES INT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460G666</cusip>
    <value> 1638</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 100340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 100340</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE BRAZIL ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P835</cusip>
    <value> 1622</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 81018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 81018</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE SOUTH KOREA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P710</cusip>
    <value> 1615</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56106</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56106</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X MSCI CHINA FINANCIA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37950E606</cusip>
    <value> 1603</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 111956</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 111956</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA UTILITIES</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R685</cusip>
    <value> 1594</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD FTSE PACIFIC ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>922042866</cusip>
    <value> 1593</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19651</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI EUROZONE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286608</cusip>
    <value> 1586</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32969</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI SAUDI ARABIA ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V423</cusip>
    <value> 1580</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37808</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37808</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES K-1 FREE CRUDE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G804</cusip>
    <value> 1571</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26647</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AVANTIS EMERGING MARKETS EQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>025072604</cusip>
    <value> 1571</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24348</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US DEEP BUF OCT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F672</cusip>
    <value> 1568</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48373</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48373</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMBRIA TAIL RISK ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>132061862</cusip>
    <value> 1564</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 83346</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 83346</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSECTORS US BIG OIL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>06367V105</cusip>
    <value> 1562</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10844</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US DEEP BUF DEC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740U406</cusip>
    <value> 1553</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48536</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48536</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES ESG ADV TOT USD BOND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46436E619</cusip>
    <value> 1547</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQ DEEP BUF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F698</cusip>
    <value> 1540</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 47194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 47194</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C409</cusip>
    <value> 1530</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42432</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DRX DLY CONS DISC BULL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25459Y801</cusip>
    <value> 1524</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23026</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23026</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DRX DLY REG BANK BULL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460G864</cusip>
    <value> 1522</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6776</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INFRACAP MLP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26923G772</cusip>
    <value> 1513</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57997</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ISHARES CORE AGGRESSIVE ALLO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289859</cusip>
    <value> 1497</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21437</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21437</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI ISRAEL ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286632</cusip>
    <value> 1489</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20791</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20791</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE UNITED KINGDOM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P678</cusip>
    <value> 1487</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 60634</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 60634</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>VANGUARD RUSSELL 2000 GROWTH</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C623</cusip>
    <value> 1485</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6941</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6941</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ADVSHRS STAR GBL BUY-WRITE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00768Y768</cusip>
    <value> 1472</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37237</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION MOONSHOT INNOVATORS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460G732</cusip>
    <value> 1462</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 45736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 45736</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>FT CBOE VEST U.S. EQUITY DEE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F714</cusip>
    <value> 1423</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42391</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>SPDR MSCI EAFE STRATEGICFACT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X434</cusip>
    <value> 1413</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18801</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18801</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C680</cusip>
    <value> 1413</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48343</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQY DEEP BUF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F771</cusip>
    <value> 1408</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 41108</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 41108</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES CORE 5-10 YEAR USD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G417</cusip>
    <value> 1406</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27491</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANGUARD LARGE-CAP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>922908637</cusip>
    <value> 1403</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6981</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6981</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VANECK EMRG MKTS HI YLD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F353</cusip>
    <value> 1368</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 58969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 58969</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X MSCI GREECE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y319</cusip>
    <value> 1366</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 50555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 50555</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FT INTERNATIONAL DEV CAP STR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R662</cusip>
    <value> 1356</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 39745</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39745</Sole>
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      <None>0</None>
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    <nameOfIssuer>INVESCO DB COMMODITY INDEX T</nameOfIssuer>
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    <cusip>46138B103</cusip>
    <value> 1351</value>
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      <sshPrnamt> 66930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 66930</Sole>
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      <None>0</None>
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    <nameOfIssuer>PROSHARES ULTRA BASIC MATERI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R776</cusip>
    <value> 1348</value>
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      <sshPrnamt> 15909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15909</Sole>
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      <None>0</None>
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    <nameOfIssuer>IPATH SER B BBG NAT GAS TR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>06745T368</cusip>
    <value> 1344</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 43149</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43149</Sole>
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      <None>0</None>
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    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C540</cusip>
    <value> 1344</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 43712</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43712</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI KUWAIT ETF</nameOfIssuer>
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    <cusip>46436E817</cusip>
    <value> 1344</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 39386</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39386</Sole>
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      <None>0</None>
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    <nameOfIssuer>KRANESHARES CICC CHINA CONS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767595</cusip>
    <value> 1337</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 56496</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 56496</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES GLOBAL COMM SERVICES</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287275</cusip>
    <value> 1331</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15729</Sole>
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      <None>0</None>
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    <nameOfIssuer>INNOVATOR GROWTH 100 POWER B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C334</cusip>
    <value> 1323</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35125</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole> 35125</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI EUROPE FINANCIA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289180</cusip>
    <value> 1310</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 66762</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 66762</Sole>
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      <None>0</None>
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    <nameOfIssuer>SCHWAB INTERNATIONAL DVD ETF</nameOfIssuer>
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    <cusip>808524672</cusip>
    <value> 1305</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 52413</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 52413</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES MSCI EMERGING MKT SM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286475</cusip>
    <value> 1295</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21370</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21370</Sole>
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      <None>0</None>
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    <nameOfIssuer>TRUESHARES STRUCT OUTCOME JU</nameOfIssuer>
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    <cusip>53656F664</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt> 39655</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39655</Sole>
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      <None>0</None>
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    <nameOfIssuer>IPATH BLOOMBERG COMMODITY IN</nameOfIssuer>
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    <cusip>06738C778</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt> 43995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43995</Sole>
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    <nameOfIssuer>WISDOMTREE EUROPE QUALITY DI</nameOfIssuer>
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    <cusip>97717X610</cusip>
    <value> 1280</value>
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      <sshPrnamt> 39844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39844</Sole>
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      <None>0</None>
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    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C532</cusip>
    <value> 1272</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42967</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42967</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES INTERMEDIATE GOVERNM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288612</cusip>
    <value> 1270</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11033</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11033</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES INC ISHARES ESG AWAR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G863</cusip>
    <value> 1269</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 30624</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 30624</Sole>
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      <None>0</None>
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    <nameOfIssuer>XTRACKERS JAPAN JPX-NIKKEI 4</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051663</cusip>
    <value> 1265</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37302</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37302</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SCHWAB 1-5 YEAR CORPORATE BO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524714</cusip>
    <value> 1253</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24533</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24533</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INN US EQ ACCELERATED JULY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783Y707</cusip>
    <value> 1249</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48282</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS ACCESS TREASUR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>381430529</cusip>
    <value> 1247</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12464</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12464</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CABANA TARGET DRAWDWN 10 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>30151E715</cusip>
    <value> 1233</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 46230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 46230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLEXSHARES INT QUAL DVD DYN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33939L829</cusip>
    <value> 1232</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 41306</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 41306</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INSPIRE INTERNATIONAL ESG ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>66538H419</cusip>
    <value> 1206</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35338</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 35338</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI INDIA SMALL-CAP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B614</cusip>
    <value> 1194</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19872</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI EMERGING MARKET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G889</cusip>
    <value> 1192</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23109</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR DBL STACK 9 BUFF-J</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C136</cusip>
    <value> 1190</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42953</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42953</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR GROWTH 100 POWER B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C466</cusip>
    <value> 1185</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28807</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO S&amp;P INTERNATIONAL DE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E214</cusip>
    <value> 1183</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 39153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 39153</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PACER SWAN SOS MOD DECEM ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H550</cusip>
    <value> 1182</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 52825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 52825</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>KRANESHARES MSCI ALL CHINA H</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767835</cusip>
    <value> 1174</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31398</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SIMPLIFY RISK PARITY TREASUR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N798</cusip>
    <value> 1173</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 46659</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 46659</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GRANITESHARES BCOM BROAD STR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>38747R108</cusip>
    <value> 1171</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 38888</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 38888</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALPHA ARCHI INTL QT VLU ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>02072L201</cusip>
    <value> 1165</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 43110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43110</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST JAPAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J158</cusip>
    <value> 1163</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21936</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21936</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO RAFI STRATEGIC EMERG</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J692</cusip>
    <value> 1160</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 40266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 40266</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST U.S. EQUITY BUF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F722</cusip>
    <value> 1156</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31922</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31922</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANGUARD INTERMEDIATE-TERM T</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C706</cusip>
    <value> 1155</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17105</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQY D BU-MAY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F730</cusip>
    <value> 1153</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34169</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34169</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TRUESHARES STRUC OUTCOME OCT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F698</cusip>
    <value> 1151</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37862</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARROW DWA COUNTRY ROTATION E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>042765685</cusip>
    <value> 1132</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32333</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32333</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA SEMICONDUCT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R669</cusip>
    <value> 1128</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32971</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES LATIN AMERICA 40 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287390</cusip>
    <value> 1120</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42208</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANGUARD SHORT-TERM BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921937827</cusip>
    <value> 1119</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13651</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C425</cusip>
    <value> 1113</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 40439</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 40439</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C318</cusip>
    <value> 1110</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37612</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAMBRIA GLOBAL VALUE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>132061409</cusip>
    <value> 1107</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 47769</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 47769</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIMPLIFY TAIL RISK STRATEGY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N780</cusip>
    <value> 1102</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 44488</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 44488</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST SWITZERLAND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J232</cusip>
    <value> 1101</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16892</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANGUARD EXTENDED MARKET ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>922908652</cusip>
    <value> 1097</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6014</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6014</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR TRIPLE STACKER-JAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C169</cusip>
    <value> 1082</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37736</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK RUSSIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F403</cusip>
    <value> 1081</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 35654</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AVANTIS INTERNATIONAL EQUITY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>025072703</cusip>
    <value> 1081</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17293</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17293</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK BDC INCOME ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F411</cusip>
    <value> 1078</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 62882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 62882</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C755</cusip>
    <value> 1067</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32554</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X MSCI COLOMBIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y327</cusip>
    <value> 1058</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 36045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 36045</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPM ULTRA-SHORT MUNI INCOME</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q654</cusip>
    <value> 1047</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20501</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR BLACKSTONE SENIOR LOAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78467V608</cusip>
    <value> 1043</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22664</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2026 CO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J791</cusip>
    <value> 1041</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CABANA TARGET LEADING SECTOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>30151E632</cusip>
    <value> 1040</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42075</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C581</cusip>
    <value> 1038</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32353</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32353</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMPLIFY INTERNATIONAL BLACKS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>032108821</cusip>
    <value> 1032</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 41231</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 41231</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TREASURY FLOATING RA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V860</cusip>
    <value> 1030</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20492</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20492</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FTHI/FIRST TRUST EXCHANGE-TR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R308</cusip>
    <value> 1027</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 47892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 47892</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST TCW OPP FIXED IN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F805</cusip>
    <value> 1024</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19127</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19127</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIDELITY MSCI ENERGY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>316092402</cusip>
    <value> 1024</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 71048</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 71048</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CABANA TARGET DRAWDOWN 5 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>30151E731</cusip>
    <value> 1024</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 40296</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 40296</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR US EQY ACCEL-APR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783Y202</cusip>
    <value> 1021</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE ASIA EX JAPAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P660</cusip>
    <value> 1020</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 38189</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 38189</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHR MSCI FRONT &amp; SEL EM ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286145</cusip>
    <value> 1015</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29945</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MAIN SECTOR ROTATION ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>66538H591</cusip>
    <value> 1015</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24945</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK RUSSIA SMALL-CAP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F734</cusip>
    <value> 1014</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26914</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26914</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OVERLAY SHARES LARGE CAP EQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F805</cusip>
    <value> 1010</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C326</cusip>
    <value> 1009</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32267</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER SWAN SOS MODERATE JULY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H493</cusip>
    <value> 1001</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48738</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48738</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD EXTENDED DUR TREAS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921910709</cusip>
    <value> 1000</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7380</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQTY BUF-MAR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F599</cusip>
    <value> 999</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31441</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31441</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRX DLY UTILITIES BULL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460E711</cusip>
    <value> 994</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34885</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANZIM US LARGE CAP BUFFE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00888H505</cusip>
    <value> 993</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 36891</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 36891</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C813</cusip>
    <value> 990</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 33289</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 33289</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST RBA AMERICAN IND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R704</cusip>
    <value> 971</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23682</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQUITY DEEP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F839</cusip>
    <value> 965</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27678</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27678</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES S&amp;P GSCI COMMODITY I</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46428R107</cusip>
    <value> 965</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57218</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEALTH CARE SELECT SECTOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>81369Y209</cusip>
    <value> 951</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI INDONESIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B309</cusip>
    <value> 950</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 43783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 43783</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO VARIABLE RATE PREFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138G870</cusip>
    <value> 947</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 36103</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 36103</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUESHARES STRUC OUT DEC ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F672</cusip>
    <value> 945</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 33347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 33347</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C656</cusip>
    <value> 942</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32435</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE US EQUITY DEEP BUFFE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F854</cusip>
    <value> 942</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27614</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27614</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRASHORT GOLD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347W395</cusip>
    <value> 938</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26934</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26934</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO 25 PLUS  YR ZERO CPN US TIF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R882</cusip>
    <value> 937</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6437</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6437</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN BETABUILDERS JAPAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q217</cusip>
    <value> 932</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15873</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CALIFORNIA MUNI BOND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288356</cusip>
    <value> 929</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14969</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR GROWTH-100 POWER B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C615</cusip>
    <value> 929</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23804</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB U.S. TIPS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524870</cusip>
    <value> 928</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14828</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES IBONDS DEC 2021 TERM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434VBK5</cusip>
    <value> 926</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37435</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER SWAN SOS MODERATE APR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H519</cusip>
    <value> 910</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42235</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR US EQY ACCL-QUART</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783Y103</cusip>
    <value> 892</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32824</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAMBRIA SOVEREIGN BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>132061805</cusip>
    <value> 889</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 38554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 38554</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN LIBERTY SHORT DURAT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>353506108</cusip>
    <value> 879</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9276</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI GERMANY SMALL-C</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B465</cusip>
    <value> 874</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10760</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES CUR HEDG JPX-NIK 400</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G722</cusip>
    <value> 871</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23999</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION DLY MEXICO BULL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460E281</cusip>
    <value> 870</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10465</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C789</cusip>
    <value> 861</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27281</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INFRACAP REIT PREFERRED ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26923G400</cusip>
    <value> 855</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34985</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34985</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPM BETABUILDERS INTL EQTY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q373</cusip>
    <value> 854</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14506</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14506</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>XTRACKERS MSCI EMERGING MARK</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051226</cusip>
    <value> 851</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26513</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26513</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION DAILY DOW JONES INT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460E364</cusip>
    <value> 847</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10703</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOV DBL STACKER 9 BUFF OCT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C219</cusip>
    <value> 837</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28817</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28817</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MORNINGSTAR MULTI-AS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46432F875</cusip>
    <value> 836</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34915</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X MSCI NORWAY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37950E747</cusip>
    <value> 831</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 57409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 57409</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IPATH SERIES B BLOOMBERG COF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>06746P563</cusip>
    <value> 827</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15472</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANZIM US LG CAP BUFFER20</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00888H208</cusip>
    <value> 820</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 30929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 30929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C805</cusip>
    <value> 812</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31548</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C565</cusip>
    <value> 809</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27666</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27666</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI NEW ZEALAND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289123</cusip>
    <value> 806</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13059</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NATIONWIDE RISK-BASED INTL E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26922A669</cusip>
    <value> 801</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES FLOATING RATE BOND E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B655</cusip>
    <value> 800</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15742</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15742</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>JPM DIVERSIFIED RET EM EQUIT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q308</cusip>
    <value> 800</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13883</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13883</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST S&amp;P INTERNATIONA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R688</cusip>
    <value> 799</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 45625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 45625</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI PHILIPPINES ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B408</cusip>
    <value> 798</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26829</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26829</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PACER SWAN SOS FLEX APRIL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H477</cusip>
    <value> 793</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 36035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 36035</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SCHWAB 5-10 YEAR CORPORATE B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524698</cusip>
    <value> 780</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14947</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WISDOMTREE INTL QLTY DVD GRW</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717X131</cusip>
    <value> 780</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20475</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2023 CO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J866</cusip>
    <value> 778</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 35916</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES GLOBAL HEALTHCARE ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287325</cusip>
    <value> 775</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9251</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA BLOOMBERG NA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347Y870</cusip>
    <value> 774</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9406</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VANECK BRAZIL SMALL-CAP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189F825</cusip>
    <value> 774</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 40500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 40500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR GROWTH 100 POWER B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C276</cusip>
    <value> 773</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16665</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES US REAL ESTATE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287739</cusip>
    <value> 768</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7497</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7497</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST INTERNATIONAL EQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33734X853</cusip>
    <value> 766</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO ENHANCED LOW DURATION</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R718</cusip>
    <value> 764</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7501</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST DOW JONES INTL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33734X770</cusip>
    <value> 762</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19005</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C573</cusip>
    <value> 760</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24931</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST NASDAQ-100 BUFF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F581</cusip>
    <value> 759</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34793</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>PIMCO RAFI DYNAMIC MULTI-FAC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72202L389</cusip>
    <value> 758</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25729</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PIMCO SHORT TERM MUNICIPAL B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R874</cusip>
    <value> 752</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14660</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ZEGA BUY AND HEDGE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>886364660</cusip>
    <value> 751</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37844</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OVERLAY SHARES CORE BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F862</cusip>
    <value> 744</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28601</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28601</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SIMPLIFY US EQUITY PLUS CONV</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N103</cusip>
    <value> 742</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24199</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PACER SWAN SOS CONSERVATIVE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H535</cusip>
    <value> 738</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 35966</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 35966</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>KRANESHARES EMERGING MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767876</cusip>
    <value> 736</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 27356</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 27356</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>JANUS HENDERSON SHORT DURATI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>47103U886</cusip>
    <value> 735</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14651</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST EXCHANGE-TRADED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R407</cusip>
    <value> 734</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34067</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34067</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI RUSSIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G798</cusip>
    <value> 726</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15206</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15206</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>KRANESHARES MSCI ALL CHINA I</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767801</cusip>
    <value> 723</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23490</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CABANA TARGET LEADING SECTOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>30151E624</cusip>
    <value> 721</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29272</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29272</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LEATHERBACK LONG/SHORT ALT Y</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>886364850</cusip>
    <value> 712</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 30331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 30331</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FLEXSHARES-INT QUAL DVD INDE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33939L837</cusip>
    <value> 710</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 28181</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 28181</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION DLY EMG MKT BULL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25490K281</cusip>
    <value> 709</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8939</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TEUCRIUM SUGAR FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>88166A409</cusip>
    <value> 706</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 73898</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 73898</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C888</cusip>
    <value> 704</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22136</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA CONSUM GOODS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R768</cusip>
    <value> 703</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7890</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C433</cusip>
    <value> 701</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22756</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DAVIS SELECT US EQUITY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>23908L207</cusip>
    <value> 700</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20650</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST ALT ABS RET ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740Y101</cusip>
    <value> 696</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22754</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C730</cusip>
    <value> 689</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24006</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X MSCI CHINA INFO ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y533</cusip>
    <value> 687</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24046</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24046</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>VELOCITYSHARES 3X LG NAT GAS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>22539T183</cusip>
    <value> 685</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21957</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21957</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST BICK INDEX FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33733H107</cusip>
    <value> 680</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19915</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>WISDOMTREE GLOBAL EX-US QUAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W844</cusip>
    <value> 674</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16654</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO FTSE INTERNATIONAL L</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E768</cusip>
    <value> 664</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22003</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22003</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X S&amp;P 500 COVC &amp; GRW</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y277</cusip>
    <value> 664</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21965</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI COLOMBIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G202</cusip>
    <value> 663</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 64396</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 64396</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TrueShares Structured Outcom</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F755</cusip>
    <value> 660</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23717</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23717</Sole>
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      <None>0</None>
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    <nameOfIssuer>WISDOMTREE EMERGING MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W323</cusip>
    <value> 657</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23422</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ACRUENCE ACTIVE HEDGE US ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>886364744</cusip>
    <value> 656</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 31898</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 31898</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY HI YIELD FACTOR ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>316092618</cusip>
    <value> 649</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11612</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C797</cusip>
    <value> 645</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 21972</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 21972</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PACER SWAN CONS DECEMBER ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H584</cusip>
    <value> 642</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29188</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>FIRST TRUST DORSEY WRIGHT DY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R878</cusip>
    <value> 638</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18156</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO S&amp;P EMERGING MARKETS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E297</cusip>
    <value> 637</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25849</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO TIPS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A656</cusip>
    <value> 632</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20313</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE EUROPE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P652</cusip>
    <value> 629</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 22236</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 22236</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST DJ GL SEL DVD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33734X200</cusip>
    <value> 620</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24814</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24814</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED STATES BRENT OIL FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>91167Q100</cusip>
    <value> 618</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 29950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 29950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EMERGING MARKETS SOV</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E784</cusip>
    <value> 618</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23171</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI BRAZIL SMALL-CA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289131</cusip>
    <value> 608</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 38085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 38085</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VICTORYSHARES EMERGING MARKE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92647N808</cusip>
    <value> 606</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25455</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSECTORS US BIG BANKS 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>063679823</cusip>
    <value> 605</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10925</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA HEALTH CARE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R735</cusip>
    <value> 604</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6362</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VELOCITYSHARES 3X LNG SILVER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>22542D290</cusip>
    <value> 600</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10251</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST NASDAQ CYBERSECU</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33734X846</cusip>
    <value> 598</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12272</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12272</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER SWAN SOS FUND OF FUNDS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H568</cusip>
    <value> 592</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26911</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26911</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI SINGAPORE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G780</cusip>
    <value> 588</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25822</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25822</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR EMERGING MARKETS P</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C516</cusip>
    <value> 587</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19610</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST DRSY WRIGHT MOME</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33741L207</cusip>
    <value> 585</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24857</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24857</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C417</cusip>
    <value> 581</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20343</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES SHORT-TERM NATIONAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288158</cusip>
    <value> 581</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5398</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRASHORT SILVER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347Y847</cusip>
    <value> 571</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18447</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18447</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQ BUFF JUL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740U208</cusip>
    <value> 570</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16458</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16458</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR INTERNATIONAL DEVE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C722</cusip>
    <value> 569</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23494</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X NASDAQ 100 TAIL RIS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37960A404</cusip>
    <value> 567</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23428</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS ACCESS U/SHORT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>381430230</cusip>
    <value> 562</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11095</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11095</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR DOUBLE STACKER-JAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C177</cusip>
    <value> 562</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19405</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO INTERNATIONAL CORPOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E636</cusip>
    <value> 561</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19942</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19942</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO TREASURY COLLATERAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138G888</cusip>
    <value> 559</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5294</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELEMENTS ROGERS METALS TR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>870297405</cusip>
    <value> 558</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 51756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 51756</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XTRACKERS MSCI EAFE HIGH DIV</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051630</cusip>
    <value> 557</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24529</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR DOUBLELINE TR TACT ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78467V848</cusip>
    <value> 553</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11452</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANZ US LRG CAP BUFF10 JA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00888H703</cusip>
    <value> 549</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VST US EQY DP BUF-MR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F615</cusip>
    <value> 548</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI BELGIUM ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286301</cusip>
    <value> 545</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25846</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25846</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST BRAZIL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J133</cusip>
    <value> 542</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 42841</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 42841</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X NASDAQ 100 COVC GRW</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y269</cusip>
    <value> 541</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17248</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17248</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED STATES 12 MONTH OIL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>91288V103</cusip>
    <value> 540</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR BLOOMBERG INVESTMENT GR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78468R200</cusip>
    <value> 539</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17577</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTSHRT UTILITIES</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G721</cusip>
    <value> 539</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 33281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 33281</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI TURKEY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286715</cusip>
    <value> 537</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25266</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VELOCITYSHARES INV VIX MEDIU</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>22542D829</cusip>
    <value> 529</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20162</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20162</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES S&amp;P SMALL-CAP 600 GR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287887</cusip>
    <value> 525</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4035</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST INSTITUTIONAL PR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739P855</cusip>
    <value> 523</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 25331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 25331</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI JAPAN ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G822</cusip>
    <value> 522</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7424</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7424</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST SMALL CAP VAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737M409</cusip>
    <value> 520</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10424</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10424</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKROCK SHORT MATURITY MUN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46431W838</cusip>
    <value> 517</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10308</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10308</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN BETABUILDERS EUROPE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q191</cusip>
    <value> 517</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9051</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9051</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSECTORS US BIG OIL -3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>063679633</cusip>
    <value> 515</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 49860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 49860</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OVERLAY SHARES MUNICIPAL BON</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F854</cusip>
    <value> 514</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19758</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19758</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIMPLIFY EXCHANGE TRADED FUN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N400</cusip>
    <value> 513</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17354</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17354</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUESHARES STRUCTURED OUTCOM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F771</cusip>
    <value> 512</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20098</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20098</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI UAE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V761</cusip>
    <value> 510</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 34345</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 34345</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB ENERGY FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46140H304</cusip>
    <value> 510</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 30079</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 30079</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XTRACKERS MSCI EAFE ESG LDRS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051218</cusip>
    <value> 509</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER US CASH COWS 100 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H881</cusip>
    <value> 506</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11574</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11574</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO S&amp;P SMALLCAP 600</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138G664</cusip>
    <value> 505</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4323</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4323</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEUCRIUM WHEAT FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>88166A508</cusip>
    <value> 502</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 70874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 70874</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE AUSTRALIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P843</cusip>
    <value> 500</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17088</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17088</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA GOLD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347W601</cusip>
    <value> 498</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8966</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8966</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB BASE METALS FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46140H700</cusip>
    <value> 498</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24068</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD SHORT-TERM TIPS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>922020805</cusip>
    <value> 495</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9416</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA SILVER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347W353</cusip>
    <value> 495</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15460</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST INT EQTY BUF-MA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F573</cusip>
    <value> 492</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23930</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED STATES COPPER INDEX</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>911718104</cusip>
    <value> 492</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST ENH SHORT MAT FD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739Q408</cusip>
    <value> 491</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8198</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8198</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INN GROWTH ACCEL PLUS JULY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783Y871</cusip>
    <value> 490</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18790</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES IBONDS DEC 2026 TERM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435GAA0</cusip>
    <value> 487</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18387</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LEADERSHARES EQUITY SKEW ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>90214Q683</cusip>
    <value> 486</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13433</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13433</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN FTSE INDIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P769</cusip>
    <value> 483</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14757</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE TRUST WISDOMTREE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W380</cusip>
    <value> 483</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10304</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DWA DEVELOPED MARKET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E875</cusip>
    <value> 480</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12654</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION DAILY LATIN AMERICA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460E273</cusip>
    <value> 478</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7653</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD S&amp;P SMALL-CAP 600 E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921932828</cusip>
    <value> 473</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2347</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST UNITED KINGDOM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33737J224</cusip>
    <value> 472</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11221</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD HEALTH CARE ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92204A504</cusip>
    <value> 470</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO CORPORATE BON</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A144</cusip>
    <value> 469</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13355</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13355</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSECTORS FANG INDEX 2X L</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>063679856</cusip>
    <value> 465</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10747</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10747</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR EMERGING MARKETS P</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C714</cusip>
    <value> 463</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18044</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB INTERMEDIATE-TERM US</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>808524854</cusip>
    <value> 460</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8104</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIMPLIFY VOLT POP CULT DISRU</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N806</cusip>
    <value> 459</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37917</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORT LNG TRM CORP BND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A367</cusip>
    <value> 455</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14511</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUESHARES STRUC OUTCOME MAR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F748</cusip>
    <value> 453</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16719</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INTL AGGREGATE BOND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G672</cusip>
    <value> 446</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8101</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8101</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KRANESHARES CICC CHINA 5G</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767611</cusip>
    <value> 443</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18436</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DRX DLY FTSE EUROPE BULL 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25459Y280</cusip>
    <value> 443</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13307</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13307</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI GLOBAL MULTIFAC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V316</cusip>
    <value> 442</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11973</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11973</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MICROSECTORS GOLD MINERS 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>063679658</cusip>
    <value> 442</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 48692</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 48692</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MERLYN AI BULL-RIDER BEAR-FI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>02072L706</cusip>
    <value> 433</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12455</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES AGENCY BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288166</cusip>
    <value> 432</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3645</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3645</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PROSHARES SHORT FTSE CHINA50</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347X658</cusip>
    <value> 432</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 26661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 26661</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TRUESHARES STRUC OUT SEP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F714</cusip>
    <value> 429</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14275</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO CALIFORNIA AMT-FREE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E206</cusip>
    <value> 427</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15371</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15371</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>TOEWS AGILITY SHARES MANAGED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>66538J720</cusip>
    <value> 426</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INTL DIV GROWTH ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G524</cusip>
    <value> 423</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6486</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6486</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQY BUFF-FEB</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F763</cusip>
    <value> 423</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11529</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO INTERNATIONAL DIVIDE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46137V548</cusip>
    <value> 423</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST CLOUD COMPUTING</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33734X192</cusip>
    <value> 421</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FRANKLIN LIBERTY US CORE BND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P553</cusip>
    <value> 421</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16623</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16623</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ALLIANZIM US LARGE CAP BUFFE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00888H604</cusip>
    <value> 420</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14554</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO GROWTH MULTI-ASSET A</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46090A408</cusip>
    <value> 418</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 23082</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 23082</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TS STR OUTCOME MAY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F797</cusip>
    <value> 418</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16334</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. SMALL CAP POW</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C474</cusip>
    <value> 412</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13217</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>XTRACK FTSE DEV EX US MULTI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051515</cusip>
    <value> 410</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13101</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13101</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA INDUSTRIALS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347R727</cusip>
    <value> 409</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13604</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13604</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PACER SWAN SOS FLEX JULY ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H469</cusip>
    <value> 402</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 19522</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 19522</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IPATH SERIES B BBG SUGAR SUB</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>06746P449</cusip>
    <value> 401</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6593</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6593</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WISDOMTREE EM MKT DVD ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717X214</cusip>
    <value> 401</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11292</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11292</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES MSCI IRELAND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B507</cusip>
    <value> 400</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6872</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO INDIA EXCHANGE-TRADE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46137R109</cusip>
    <value> 397</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13952</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13952</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PIMCO ENHCD ST M-ACTIVE ESG</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R643</cusip>
    <value> 397</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3948</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3948</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTRASHORT CONS SV</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G812</cusip>
    <value> 397</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 41503</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 41503</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FAT TAIL RISK ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>19423L656</cusip>
    <value> 394</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16465</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRST TRUST CALIFORNIA MUNIC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739P863</cusip>
    <value> 392</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7184</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7184</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ALLIANZIM US LG CAP BUFFER10</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00888H109</cusip>
    <value> 391</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13955</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13955</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY TOTAL BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>316188309</cusip>
    <value> 390</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7343</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VICTORYSHARES USAA MSCI EMER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92647N543</cusip>
    <value> 390</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8034</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8034</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C672</cusip>
    <value> 389</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13673</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13673</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OVERLAY SHARES SMALL CAP EQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F888</cusip>
    <value> 383</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10608</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10608</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BLUESTAR ISRAEL TECHNOLOGY E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26924G870</cusip>
    <value> 383</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5805</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C821</cusip>
    <value> 383</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13778</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVSHRS NEWFLEET MULTSEC INC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00768Y727</cusip>
    <value> 383</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7833</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PACER SWAN SOS FLEX DEC ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H576</cusip>
    <value> 382</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16416</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES AAA - A RATED CORPOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B291</cusip>
    <value> 382</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6778</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES RUSSELL MID-CAP GROW</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464287481</cusip>
    <value> 381</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SIMPLIFY US EQUITY PLUS UPSI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N301</cusip>
    <value> 375</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11961</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO TOTAL RETURN BOND ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46090A804</cusip>
    <value> 374</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6578</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TRIMTABS INTERNATIONAL FREE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>89628W401</cusip>
    <value> 374</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10595</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10595</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>JPMORGAN ACTIVEBUILDERS EMER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q266</cusip>
    <value> 371</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7864</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7864</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WISDOMTREE CBOE S&amp;P 500 PTWT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717X560</cusip>
    <value> 371</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11387</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO MSCI GLOBAL S</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463X475</cusip>
    <value> 371</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6771</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6771</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>KRANESHARES SSE STAR MKT 50</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>500767694</cusip>
    <value> 370</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15976</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PACER TRENDPILOT US BOND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H642</cusip>
    <value> 368</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13557</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13557</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES CORE 10 PLUS  YEAR USD BO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289479</cusip>
    <value> 366</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5110</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTRASHORT OIL&amp;GAS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74348A525</cusip>
    <value> 362</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32491</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES IBONDS DEC 2025 TERM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435U432</cusip>
    <value> 360</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CABANA TARGET LEADING SECTOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>30151E616</cusip>
    <value> 354</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14461</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST GROWTH-100 BUFF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740U836</cusip>
    <value> 352</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17835</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17835</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST NASDAQ-100 BUFF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F557</cusip>
    <value> 351</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17244</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES 5-10Y INV GRADE CORP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288638</cusip>
    <value> 350</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5828</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANZIM US LRG CAP BU10 JU</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00888H307</cusip>
    <value> 349</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12549</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY POWER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C748</cusip>
    <value> 349</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQUITY ENHAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740U844</cusip>
    <value> 345</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11642</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11642</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES NEW YORK MUNI BOND E</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288323</cusip>
    <value> 344</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQ BUFF JAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F623</cusip>
    <value> 343</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10402</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO NATIONAL AMT-FREE MU</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E537</cusip>
    <value> 336</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12506</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12506</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C300</cusip>
    <value> 335</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10782</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2023 HI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J858</cusip>
    <value> 333</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13165</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13165</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>INVESCO FINANCIAL PREFERRED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46137V621</cusip>
    <value> 328</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 17306</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 17306</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WISDOMTREE YIELD ENHANCED US</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717X511</cusip>
    <value> 325</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6252</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN BETABUILDERS US SC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q290</cusip>
    <value> 324</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5047</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5047</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD LONG-TERM TREASURY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C847</cusip>
    <value> 319</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3637</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X MSCI SUPERDIVIDEND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y699</cusip>
    <value> 318</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 20797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 20797</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C292</cusip>
    <value> 314</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11212</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11212</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AAM LOW DUR PREF &amp; INC SEC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26922A198</cusip>
    <value> 312</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12407</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12407</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FT HORIZON MGD VOL D INT ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739P871</cusip>
    <value> 310</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQ DEEP JAN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F631</cusip>
    <value> 308</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9719</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROSHARES ULTSHRT SEMICONDUC</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G622</cusip>
    <value> 308</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9838</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9838</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD SHORT-TERM TREASURY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92206C102</cusip>
    <value> 307</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5007</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5007</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG AWARE USD CORPOR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G193</cusip>
    <value> 307</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11158</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11158</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI PERU ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289842</cusip>
    <value> 305</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11579</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI GLOBAL METALS &amp;</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434G848</cusip>
    <value> 305</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7474</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI CANADA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286509</cusip>
    <value> 304</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8382</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8382</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG MSCI EM LEADERS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46436E601</cusip>
    <value> 304</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4975</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIMCO BROAD US TIPS INDEX</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>72201R403</cusip>
    <value> 304</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4629</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4629</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED STATES GAS FUND LP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>91201T102</cusip>
    <value> 304</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7911</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7911</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE MTGE PLUS BOND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717Y725</cusip>
    <value> 303</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5977</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD ULTRA SHORT BOND ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92203C303</cusip>
    <value> 302</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY ULTRA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C839</cusip>
    <value> 301</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11199</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN LIBERTY IG CORP ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P603</cusip>
    <value> 301</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION DLY S&amp;P 500 BEAR 3X</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>25460E265</cusip>
    <value> 299</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI BRIC ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286657</cusip>
    <value> 298</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6183</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST MUNICIPAL CEF IN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F508</cusip>
    <value> 296</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14209</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14209</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD COMMUNICATION SERVI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92204A884</cusip>
    <value> 296</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO FTSE RAFI DEVELOPED</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138E735</cusip>
    <value> 295</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7860</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI AUSTRIA ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286202</cusip>
    <value> 295</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11870</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES EMERGING MARKETS INF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288216</cusip>
    <value> 291</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR INTERNATIONAL DEVE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C524</cusip>
    <value> 291</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10884</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUESHARES STRUC OUTCOME NOV</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>53656F680</cusip>
    <value> 289</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9361</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES IBONDS DEC 2022 TERM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434VBA7</cusip>
    <value> 288</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11378</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES INFLATION EXPECTAT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74348A814</cusip>
    <value> 286</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9677</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9677</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR EMERGING MARKETS P</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C359</cusip>
    <value> 285</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11562</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11562</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUVEEN ESG HIGH YIELD CORP B</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>67092P854</cusip>
    <value> 281</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11356</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11356</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INN DEFINED WEALTH SHIELD</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45783Y855</cusip>
    <value> 280</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10854</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10854</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C391</cusip>
    <value> 280</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8488</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8488</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR BLOOMBERG INTERNATIONAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A516</cusip>
    <value> 279</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9697</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI EUROPE SMALL-CA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464288497</cusip>
    <value> 276</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3986</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI POLAND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B606</cusip>
    <value> 275</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12551</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES ALPHA DNA EQUI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>00768Y420</cusip>
    <value> 270</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10106</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10106</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE INTL S/C DVD FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717W760</cusip>
    <value> 269</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3617</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR U.S. EQUITY BUFFER</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C557</cusip>
    <value> 268</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8008</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHA HEDGED MSCI GERMANY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46434V704</cusip>
    <value> 267</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8321</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8321</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO BULLETSHARES 2022 CO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138J882</cusip>
    <value> 266</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12367</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES CMBS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46429B366</cusip>
    <value> 266</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4923</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4923</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WISDOMTREE US SHORT TERM COR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>97717X156</cusip>
    <value> 263</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5136</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST LOW DURATION OPP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33739Q200</cusip>
    <value> 263</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5191</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5191</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN BETABUILDERS CANADA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q225</cusip>
    <value> 262</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4159</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4159</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 600 SMALL CAP GROWT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A201</cusip>
    <value> 261</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST STOXX EUROPE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33735T109</cusip>
    <value> 259</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 18662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 18662</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INNOVATOR TRIPLE STACKER OCT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>45782C193</cusip>
    <value> 258</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR MSCI EM FSL FL RSV FREE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78470E205</cusip>
    <value> 257</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3446</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN SHORT DURATION CORE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q274</cusip>
    <value> 251</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELEMENTS ROGERS TOTAL RETURN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>870297801</cusip>
    <value> 250</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 37301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 37301</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACER DEVELOPED MARKETS INTE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>69374H873</cusip>
    <value> 249</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8025</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8025</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANECK JPM EM LOCAL CURR BND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>92189H300</cusip>
    <value> 246</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8214</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8214</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEUCRIUM CORN FUND</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>88166A102</cusip>
    <value> 246</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12196</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12196</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 600 SMALL CAP VALUE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A300</cusip>
    <value> 246</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES ESG AWARE MSCI USA</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G425</cusip>
    <value> 244</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2476</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CABANA TARGET DRAWDWN 13 ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>30151E699</cusip>
    <value> 244</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8752</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8752</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD S&amp;P 500 GROWTH ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921932505</cusip>
    <value> 240</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR BLOOMBERG CONVERTIBLE S</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A359</cusip>
    <value> 237</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2779</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2779</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X LITHIUM &amp; BATTERY T</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37954Y855</cusip>
    <value> 236</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2884</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRA FINANCIALS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347X633</cusip>
    <value> 236</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3721</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3721</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN LIBERTY US TR B ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>35473P488</cusip>
    <value> 235</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9774</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9774</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR PORTFOLIO MORTGAGE BACK</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78464A383</cusip>
    <value> 234</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 9104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 9104</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD ESG INTL STOCK ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>921910725</cusip>
    <value> 233</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3781</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CB US EQ DEEP BUFF APR</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740U802</cusip>
    <value> 231</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7542</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7542</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI NETHERLANDS ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464286814</cusip>
    <value> 229</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4659</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4659</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKROCK HIGH YIELD MUNI IN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>092528108</cusip>
    <value> 228</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8643</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPM BTABLDRS DEV ASIA X-JPN</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q233</cusip>
    <value> 228</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4199</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES GLOBAL GREEN BOND ET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435U440</cusip>
    <value> 225</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4107</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4107</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XTRACKERS MSCI EMERGING MARK</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>233051101</cusip>
    <value> 222</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8175</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR GOLD SHARES</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78463V107</cusip>
    <value> 222</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 1351</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 1351</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LHA MARKET STATE ALPHA SEEKE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>26922A156</cusip>
    <value> 222</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8841</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8841</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US EQY BUFF-MAY</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F748</cusip>
    <value> 221</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6087</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO NASDAQ NEXT GEN 100</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46138G631</cusip>
    <value> 218</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6598</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6598</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSECTORS FANG PLUS  ETNS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>06368B504</cusip>
    <value> 216</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 7075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 7075</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN INTL BND ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46641Q852</cusip>
    <value> 215</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 4192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 4192</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES IBONDS DEC 2021 TERM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>46435G789</cusip>
    <value> 215</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8391</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IPATH SERIES B BLOOMBERG COP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>06746P555</cusip>
    <value> 214</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10420</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS ACTIVEBETA EM</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>381430206</cusip>
    <value> 213</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 5740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 5740</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TRUST DORSEYWRIGHT DAL</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33738R712</cusip>
    <value> 211</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 8518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 8518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FREEDOM 100 EMEGING MRKT ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>02072L607</cusip>
    <value> 210</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6395</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTRAPRO SHORT QQQ</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G861</cusip>
    <value> 207</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24009</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24009</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FT CBOE VEST US DEEP BUF SEP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>33740F680</cusip>
    <value> 203</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 6343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 6343</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES 10 PLUS  YEAR INV GR CORP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>464289511</cusip>
    <value> 203</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 2927</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 2927</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR NUVEEN BLOOMBERG MUNICI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>78468R721</cusip>
    <value> 200</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 3872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 3872</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELEMENTS ROGERS AGRI TOT RET</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>870297603</cusip>
    <value> 197</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 24635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 24635</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES SHORT FINANCIALS</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347B185</cusip>
    <value> 195</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15559</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTSHRT MSCI EAFE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74348A475</cusip>
    <value> 174</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 16577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 16577</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIMPLIFY VOLT ROBOCAR DISRUP</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N889</cusip>
    <value> 171</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14770</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14770</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S/V CLOUD &amp; CYBERSECURITY DI</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>82889N871</cusip>
    <value> 165</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11983</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11983</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROSHARES ULTSHRT BASIC MAT</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347G614</cusip>
    <value> 165</value>
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      <sshPrnamt> 10901</sshPrnamt>
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      <Sole> 10901</Sole>
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      <None>0</None>
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    <nameOfIssuer>GLOBAL X MSCI PORTUGAL ETF</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>37950E192</cusip>
    <value> 156</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14167</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14167</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>PROSHARES SHORT REAL ESTATE</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>74347X641</cusip>
    <value> 140</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 15257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 15257</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ANFIELD UNIVERSAL FIXED INCO</nameOfIssuer>
    <titleOfClass>ETP</titleOfClass>
    <cusip>90214Q766</cusip>
    <value> 123</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12795</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12795</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>NATIONAL RETAIL PROPERTIES</nameOfIssuer>
    <titleOfClass>REIT</titleOfClass>
    <cusip>637417106</cusip>
    <value> 1410</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 32653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 32653</Sole>
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      <None>0</None>
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    <nameOfIssuer>CLIMATE REAL IMPACT SOLUTION</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>187171202</cusip>
    <value> 144</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14431</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14431</Sole>
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      <None>0</None>
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    <nameOfIssuer>FORTRESS VALUE ACQUISITIN IV</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>34964K207</cusip>
    <value> 142</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 14419</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 14419</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>CARNEY TECHNOLOGY ACQUISITIO</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>143636207</cusip>
    <value> 135</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13515</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>DFP HEALTHCARE ACQUISITIONS</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>23343Q209</cusip>
    <value> 134</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12901</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12901</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>194170205</cusip>
    <value> 133</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13381</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>GORES HOLDINGS VII INC</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>38286T200</cusip>
    <value> 132</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 13409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 13409</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>87301L205</cusip>
    <value> 128</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12979</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12979</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>LIONHEART ACQUISITION CORP</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>53625R203</cusip>
    <value> 125</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12166</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>MISSION ADVANCEMENT CORP</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>60501L200</cusip>
    <value> 124</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 12620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 12620</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>HUDSON EXECUTIV INV CORP III</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>44376L206</cusip>
    <value> 116</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11807</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>INTERPRIVATE IV INFRATECH</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>46064T201</cusip>
    <value> 113</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11526</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>66574L209</cusip>
    <value> 112</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11396</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11396</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>DIGITAL TRANSFORMATION OPPOR</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>25401K206</cusip>
    <value> 112</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 11404</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 11404</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>STRATIM CLOUD ACQUISITION CO</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>86309R206</cusip>
    <value> 108</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10871</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>76155Y207</cusip>
    <value> 107</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10905</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>ACCELERATE ACQUISITION CORP</nameOfIssuer>
    <titleOfClass>Unit</titleOfClass>
    <cusip>00439D201</cusip>
    <value> 107</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10688</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10688</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>72582M205</cusip>
    <value> 106</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10748</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10748</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>45175H205</cusip>
    <value> 106</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10576</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>54319Q204</cusip>
    <value> 103</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <titleOfClass>Unit</titleOfClass>
    <cusip>57520Y205</cusip>
    <value> 102</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10216</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole> 10216</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <cusip>784065203</cusip>
    <value> 101</value>
    <shrsOrPrnAmt>
      <sshPrnamt> 10118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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</SEC-DOCUMENT>