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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <shrsOrPrnAmt>
      <sshPrnamt>30689</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
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      <None>0</None>
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    <cusip>003260106</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>169400</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <None>0</None>
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      <sshPrnamt>16305</sshPrnamt>
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      <None>0</None>
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    <cusip>H00263105</cusip>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10100</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>197571</sshPrnamt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>17800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ACADEMY SPORTS &amp; OUTDOORS IN</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>6539</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ACADEMY SPORTS &amp; OUTDOORS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00402L107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>96000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>96000</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>00402L107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>140995</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ACADEMY SPORTS &amp; OUTDOORS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00402L107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>33400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>33400</Sole>
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      <None>0</None>
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      <sshPrnamt>2581238</sshPrnamt>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>41400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41400</Sole>
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      <None>0</None>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>135187</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>135187</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>00404A109</cusip>
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      <sshPrnamt>147800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>147800</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>593074</sshPrnamt>
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    <votingAuthority>
      <Sole>593074</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>20000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ACADIA PHARMACEUTICALS INC</nameOfIssuer>
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    <cusip>004225108</cusip>
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      <sshPrnamt>29686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29686</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>15900</Sole>
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      <None>0</None>
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      <sshPrnamt>565546</sshPrnamt>
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      <Sole>565546</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ACADIA RLTY TR</nameOfIssuer>
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      <sshPrnamt>130894</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>130894</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>42895</sshPrnamt>
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    <votingAuthority>
      <Sole>42895</Sole>
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  <infoTable>
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      <sshPrnamt>38128</sshPrnamt>
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      <Sole>38128</Sole>
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      <None>0</None>
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  <infoTable>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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      <Sole>24000</Sole>
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  <infoTable>
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      <Sole>55205</Sole>
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  <infoTable>
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  <infoTable>
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      <Sole>33800</Sole>
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      <Sole>53446</Sole>
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    <cusip>00777X520</cusip>
    <value>433142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15376</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15376</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD</nameOfIssuer>
    <titleOfClass>LSV DISCIPLINED</titleOfClass>
    <cusip>0075W0155</cusip>
    <value>11012003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>375903</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>375903</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD II</nameOfIssuer>
    <titleOfClass>FRONTIER ASSET O</titleOfClass>
    <cusip>00764Q611</cusip>
    <value>550206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21654</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD II</nameOfIssuer>
    <titleOfClass>FRONTIER ASSET C</titleOfClass>
    <cusip>00764Q629</cusip>
    <value>809075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31909</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD II</nameOfIssuer>
    <titleOfClass>CASTLEARK LARGE</titleOfClass>
    <cusip>00791R608</cusip>
    <value>588465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14757</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD II</nameOfIssuer>
    <titleOfClass>3EDGE DYNAMIC FI</titleOfClass>
    <cusip>00791R830</cusip>
    <value>478375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19340</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD III</nameOfIssuer>
    <titleOfClass>DEMCRATIC LG ETF</titleOfClass>
    <cusip>00774Q346</cusip>
    <value>568255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14135</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14135</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS INNER CIRCLE FD III</nameOfIssuer>
    <titleOfClass>RAYLIANT WILSHIR</titleOfClass>
    <cusip>00775Y728</cusip>
    <value>448946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14089</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORS SER TR</nameOfIssuer>
    <titleOfClass>SCHARF ETF</titleOfClass>
    <cusip>00770X220</cusip>
    <value>4212192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78593</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>78593</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>MSOS DAILY LVRGD</titleOfClass>
    <cusip>00768Y289</cusip>
    <value>938378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>436455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>436455</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>MSOS DAILY LVRGD</titleOfClass>
    <cusip>00768Y289</cusip>
    <value>413391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>192275</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>PSYCHEDELICS ETF</titleOfClass>
    <cusip>00768Y297</cusip>
    <value>185900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>RANGER EQUITY BE</titleOfClass>
    <cusip>00768Y412</cusip>
    <value>1303170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>72600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>PURE US CANNABIS</titleOfClass>
    <cusip>00768Y453</cusip>
    <value>7433345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2093900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2093900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>PURE US CANNABIS</titleOfClass>
    <cusip>00768Y453</cusip>
    <value>2725353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>767705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>767705</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>PURE US CANNABIS</titleOfClass>
    <cusip>00768Y453</cusip>
    <value>5840815</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1645300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1645300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>PURE CANNABIS</titleOfClass>
    <cusip>00768Y495</cusip>
    <value>70710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26886</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>ADVISORSHS ETF</titleOfClass>
    <cusip>00768Y560</cusip>
    <value>420562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6494</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVISORSHARES TR</nameOfIssuer>
    <titleOfClass>INSIDER ADVANTA</titleOfClass>
    <cusip>00768Y818</cusip>
    <value>623340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4902</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEBI SCHMIDT HLDG AG</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>H00501108</cusip>
    <value>641870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66104</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AECOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00766T100</cusip>
    <value>40692141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>479747</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>479747</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AECOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00766T100</cusip>
    <value>1662472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AECOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00766T100</cusip>
    <value>19925066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>234910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>234910</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AECOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00766T100</cusip>
    <value>2366478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEHR TEST SYS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00760J108</cusip>
    <value>14427828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>389100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>389100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEHR TEST SYS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00760J108</cusip>
    <value>5239070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>141291</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEHR TEST SYS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00760J108</cusip>
    <value>5621328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>151600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AELUMA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00776X109</cusip>
    <value>586432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AELUMA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00776X109</cusip>
    <value>185878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEMETIS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>00770K202</cusip>
    <value>180117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56463</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEMETIS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>00770K202</cusip>
    <value>128238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEMETIS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>00770K202</cusip>
    <value>1318274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>413252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>413252</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AEMETIS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>00770K202</cusip>
    <value>225214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AERCAP HOLDINGS NV</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N00985106</cusip>
    <value>12720701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AERCAP HOLDINGS NV</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N00985106</cusip>
    <value>41359770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>301500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>301500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AERCAP HOLDINGS NV</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N00985106</cusip>
    <value>14740677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>107455</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AERCAP HOLDINGS NV</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N00985106</cusip>
    <value>8203364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59800</Sole>
      <Shared>0</Shared>
      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>1200</sshPrnamt>
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    <putCall>Put</putCall>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1318600</Sole>
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      <sshPrnamt>433900</sshPrnamt>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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    <putCall>Put</putCall>
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      <Sole>6400</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>8913</Sole>
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  <infoTable>
    <nameOfIssuer>AGENUS INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>15439</sshPrnamt>
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      <None>0</None>
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      <Sole>10557</Sole>
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      <None>0</None>
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      <Sole>152300</Sole>
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      <None>0</None>
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      <None>0</None>
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    <nameOfIssuer>ALUMIS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>022307102</cusip>
    <value>2623773</value>
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      <sshPrnamt>119100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>119100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALX ONCOLOGY HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00166B105</cusip>
    <value>74185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMARIN CORP PLC</nameOfIssuer>
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    <cusip>023111404</cusip>
    <value>963499</value>
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      <sshPrnamt>66632</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66632</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMARIN CORP PLC</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>023111404</cusip>
    <value>159060</value>
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      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMARIN CORP PLC</nameOfIssuer>
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    <cusip>023111404</cusip>
    <value>201616</value>
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      <sshPrnamt>13943</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZE HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35804X200</cusip>
    <value>6234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33426</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZE HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35804X200</cusip>
    <value>44095</value>
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      <sshPrnamt>236434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>236434</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
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    <cusip>023135106</cusip>
    <value>12079660</value>
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      <sshPrnamt>58000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>998232487</value>
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      <sshPrnamt>4792973</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4792973</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>12412892</value>
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      <sshPrnamt>59600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>5271834375</value>
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      <sshPrnamt>25312500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25312500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>689282894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3309564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3309564</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
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      <sshPrnamt>18049800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>18049800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBARELLA INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>10295000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBARELLA INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G037AX101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>926468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>926468</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBARELLA INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>4921010</value>
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      <sshPrnamt>95600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>95600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBARELLA INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>277656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5394</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBARELLA INC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>1590578</value>
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      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBER INTL HLDG LTD</nameOfIssuer>
    <titleOfClass>SPON ADS NEW</titleOfClass>
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    <value>45996</value>
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      <sshPrnamt>19490</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19490</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBEV SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>02319V103</cusip>
    <value>222057</value>
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      <sshPrnamt>76047</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76047</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMBEV SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>02319V103</cusip>
    <value>275356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>94300</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMBEV SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>02319V103</cusip>
    <value>18836742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6450939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6450939</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMBEV SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>02319V103</cusip>
    <value>106872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC ENTMT HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>00165C302</cusip>
    <value>597559</value>
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      <sshPrnamt>609754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>609754</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC ENTMT HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>00165C302</cusip>
    <value>291942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>297900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>297900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC ENTMT HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>00165C302</cusip>
    <value>2122643</value>
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      <sshPrnamt>2165962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2165962</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC ENTMT HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>00165C302</cusip>
    <value>617204</value>
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      <sshPrnamt>629800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>629800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC NETWORKS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>00164V103</cusip>
    <value>1007880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148436</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC NETWORKS INC</nameOfIssuer>
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    <cusip>00164V103</cusip>
    <value>1412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>208</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMC NETWORKS INC</nameOfIssuer>
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    <value>69937</value>
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      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMCOR PLC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>G0250X149</cusip>
    <value>3975</value>
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      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMCOR PLC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>G0250X149</cusip>
    <value>23894083</value>
    <shrsOrPrnAmt>
      <sshPrnamt>601109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>601109</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMCOR PLC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>G0250X149</cusip>
    <value>3975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMCOR PLC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>G0250X149</cusip>
    <value>8919900</value>
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      <sshPrnamt>224400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>224400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMCOR PLC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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    <value>8781252</value>
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      <sshPrnamt>220912</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>220912</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMCOR PLC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>G0250X149</cusip>
    <value>5611110</value>
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      <sshPrnamt>141160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>141160</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMDOCS LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G02602103</cusip>
    <value>13314084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204016</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204016</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMDOCS LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G02602103</cusip>
    <value>16791398</value>
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      <sshPrnamt>8600</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>144729</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN CENTY ETF TR</nameOfIssuer>
    <titleOfClass>AVANTIS U S QUAL</titleOfClass>
    <cusip>02507A507</cusip>
    <value>630028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11104</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMERICAN CENTY ETF TR</nameOfIssuer>
    <titleOfClass>AVANTIS TOTAL EQ</titleOfClass>
    <cusip>02507A606</cusip>
    <value>841571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17901</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17901</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN CENTY ETF TR</nameOfIssuer>
    <titleOfClass>SMALL CAP GROWTH</titleOfClass>
    <cusip>02507A705</cusip>
    <value>299730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7564</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AMERICAN CENTY ETF TR</nameOfIssuer>
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    <cusip>02507A804</cusip>
    <value>260141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6073</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>6073</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERICAN COASTAL INS CORP</nameOfIssuer>
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      <sshPrnamt>197900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>197900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>910710102</cusip>
    <value>733500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65200</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AMERICAN EAGLE OUTFITTERS IN</nameOfIssuer>
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    <cusip>02553E106</cusip>
    <value>188710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN EAGLE OUTFITTERS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02553E106</cusip>
    <value>20875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN EAGLE OUTFITTERS IN</nameOfIssuer>
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    <cusip>02553E106</cusip>
    <value>6214070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>372100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>372100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN EAGLE OUTFITTERS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02553E106</cusip>
    <value>9157445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>548350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>548350</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN EAGLE OUTFITTERS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02553E106</cusip>
    <value>16598130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>993900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>993900</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERICAN ELEC PWR CO INC</nameOfIssuer>
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      <sshPrnamt>150039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150039</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN ELEC PWR CO INC</nameOfIssuer>
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    <cusip>025537101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>521900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>521900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN ELEC PWR CO INC</nameOfIssuer>
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    <cusip>025537101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>132539</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132539</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN ELEC PWR CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>025537101</cusip>
    <value>5780628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44100</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMERICAN EXCEPTIONALISM ACQU</nameOfIssuer>
    <titleOfClass>ORD CL A</titleOfClass>
    <cusip>G0273J101</cusip>
    <value>338438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN EXCEPTIONALISM ACQU</nameOfIssuer>
    <titleOfClass>ORD CL A</titleOfClass>
    <cusip>G0273J101</cusip>
    <value>1328841</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>122700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AMERICAN EXPRESS CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>025816109</cusip>
    <value>122019222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>403396</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>403396</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMERICAN EXPRESS CO</nameOfIssuer>
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    <cusip>025816109</cusip>
    <value>342467856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1132200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1132200</Sole>
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      <None>0</None>
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      <sshPrnamt>607900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>607900</Sole>
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      <None>0</None>
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      <sshPrnamt>162952</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162952</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>13600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
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    <cusip>025932104</cusip>
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      <sshPrnamt>141015</sshPrnamt>
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      <Sole>141015</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>268191</value>
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      <sshPrnamt>2100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>2100</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>877170</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>877170</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>398182303</cusip>
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      <sshPrnamt>9700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>9700</Sole>
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      <None>0</None>
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      <Sole>340436</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>166363</sshPrnamt>
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      <Sole>166363</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>14600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>14600</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>123415</sshPrnamt>
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      <Sole>123415</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN INTEGRITY INS GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>74970</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>74970</Sole>
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      <None>0</None>
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  <infoTable>
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    <shrsOrPrnAmt>
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      <Sole>1081820</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>463600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>463600</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
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      <sshPrnamt>577792</sshPrnamt>
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      <Sole>577792</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>780200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>780200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMERICAN PUB ED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>53337</sshPrnamt>
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      <Sole>53337</Sole>
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  <infoTable>
    <nameOfIssuer>AMERICAN PUB ED INC</nameOfIssuer>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <None>0</None>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>163100</sshPrnamt>
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    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
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  <infoTable>
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    <shrsOrPrnAmt>
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    <shrsOrPrnAmt>
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    <shrsOrPrnAmt>
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    <shrsOrPrnAmt>
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    <shrsOrPrnAmt>
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    <cusip>032108532</cusip>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>20460</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20460</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>218900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>218900</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>17500</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMPLITUDE INC</nameOfIssuer>
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      <sshPrnamt>100300</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>100300</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>36183</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>36183</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>70000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>70000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMPRIUS TECHNOLOGIES INC</nameOfIssuer>
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      <sshPrnamt>648272</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>648272</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMPRIUS TECHNOLOGIES INC</nameOfIssuer>
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    <cusip>03214Q108</cusip>
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      <sshPrnamt>1443800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1443800</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>AMPRIUS TECHNOLOGIES INC</nameOfIssuer>
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    <cusip>03214Q108</cusip>
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      <sshPrnamt>790388</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>790388</Sole>
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      <None>0</None>
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      <sshPrnamt>1334300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1334300</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMRIZE LTD</nameOfIssuer>
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      <sshPrnamt>241942</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>241942</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMRIZE LTD</nameOfIssuer>
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    <cusip>H2927K103</cusip>
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      <sshPrnamt>150300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>150300</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMRIZE LTD</nameOfIssuer>
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    <cusip>H2927K103</cusip>
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      <sshPrnamt>437047</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>437047</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMRIZE LTD</nameOfIssuer>
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      <sshPrnamt>477400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>477400</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMTECH SYS INC</nameOfIssuer>
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      <sshPrnamt>67754</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67754</Sole>
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      <None>0</None>
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    <nameOfIssuer>AMTECH SYS INC</nameOfIssuer>
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    <cusip>032332504</cusip>
    <value>266304</value>
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      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22800</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>AMTECH SYS INC</nameOfIssuer>
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    <cusip>032332504</cusip>
    <value>457389</value>
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      <sshPrnamt>39160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>39160</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMYLYX PHARMACEUTICALS INC</nameOfIssuer>
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    <value>1936562</value>
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      <sshPrnamt>139321</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139321</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMYLYX PHARMACEUTICALS INC</nameOfIssuer>
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    <cusip>03237H101</cusip>
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      <sshPrnamt>45300</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>45300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AMYLYX PHARMACEUTICALS INC</nameOfIssuer>
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    <cusip>03237H101</cusip>
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      <sshPrnamt>272211</sshPrnamt>
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      <Sole>272211</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>12800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>12800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>AN2 THERAPEUTICS INC</nameOfIssuer>
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      <sshPrnamt>155239</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>155239</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ANALOG DEVICES INC</nameOfIssuer>
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      <sshPrnamt>730255</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>730255</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ANALOG DEVICES INC</nameOfIssuer>
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      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>606600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>606600</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>140</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>392100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>392100</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>197615</Sole>
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  <infoTable>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>7700</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>1987409</value>
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      <Sole>35835</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>032797300</cusip>
    <value>11390</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>3710</Sole>
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    </votingAuthority>
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  <infoTable>
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    <cusip>032797300</cusip>
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      <sshPrnamt>553400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>553400</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>032797300</cusip>
    <value>1706076</value>
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      <sshPrnamt>555725</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>555725</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>032797300</cusip>
    <value>181744</value>
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      <sshPrnamt>59200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>59200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ANDERSEN GROUP INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>033853102</cusip>
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      <sshPrnamt>380034</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>380034</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANDERSONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>034164103</cusip>
    <value>6044953</value>
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      <sshPrnamt>84215</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84215</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>034164103</cusip>
    <value>1327930</value>
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      <sshPrnamt>18500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>034164103</cusip>
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      <None>0</None>
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    <cusip>03463K745</cusip>
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      <sshPrnamt>68000</sshPrnamt>
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      <sshPrnamt>16700</sshPrnamt>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>ANHEUSER BUSCH INBEV SA NV</nameOfIssuer>
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      <sshPrnamt>33638</sshPrnamt>
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  <infoTable>
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      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>6700</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>16000</sshPrnamt>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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      <Sole>315500</Sole>
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      <Sole>43600</Sole>
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      <sshPrnamt>46600</sshPrnamt>
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      <Sole>46600</Sole>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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    <nameOfIssuer>ARBUTUS BIOPHARMA CORP</nameOfIssuer>
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      <sshPrnamt>75700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCBEST CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03937C105</cusip>
    <value>492390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5006</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCBEST CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03937C105</cusip>
    <value>1327860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCBEST CORP</nameOfIssuer>
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    <cusip>03937C105</cusip>
    <value>98</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCBEST CORP</nameOfIssuer>
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    <cusip>03937C105</cusip>
    <value>540980</value>
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      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELLX INC</nameOfIssuer>
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    <cusip>03940C100</cusip>
    <value>11712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELLX INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>03940C100</cusip>
    <value>1240056</value>
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      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>10800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELLX INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>03940C100</cusip>
    <value>2492053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21704</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELLX INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>03940C100</cusip>
    <value>2307882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20100</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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    <cusip>03938L203</cusip>
    <value>25990</value>
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      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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    <cusip>03938L203</cusip>
    <value>4579438</value>
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      <sshPrnamt>88100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>88100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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    <cusip>03938L203</cusip>
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      <sshPrnamt>396857</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>396857</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCELORMITTAL SA LUXEMBOURG</nameOfIssuer>
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    <cusip>03938L203</cusip>
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      <sshPrnamt>230700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>230700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCH CAP GROUP LTD</nameOfIssuer>
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    <cusip>G0450A105</cusip>
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      <sshPrnamt>99165</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99165</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>ARCH CAP GROUP LTD</nameOfIssuer>
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    <cusip>G0450A105</cusip>
    <value>1439850</value>
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      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCH CAP GROUP LTD</nameOfIssuer>
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    <cusip>G0450A105</cusip>
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      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER AVIATION INC</nameOfIssuer>
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      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER AVIATION INC</nameOfIssuer>
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    <cusip>03945R102</cusip>
    <value>420357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81307</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81307</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER AVIATION INC</nameOfIssuer>
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    <cusip>03945R102</cusip>
    <value>8789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER AVIATION INC</nameOfIssuer>
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      <sshPrnamt>3471400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3471400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER AVIATION INC</nameOfIssuer>
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      <sshPrnamt>2842741</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2842741</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER AVIATION INC</nameOfIssuer>
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    <cusip>03945R102</cusip>
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      <sshPrnamt>1482100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1482100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER DANIELS MIDLAND CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039483102</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>388670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>388670</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER DANIELS MIDLAND CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>641200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>641200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER DANIELS MIDLAND CO</nameOfIssuer>
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    <cusip>039483102</cusip>
    <value>3127560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43026</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43026</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHER DANIELS MIDLAND CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039483102</cusip>
    <value>13382229</value>
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      <sshPrnamt>184100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>184100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHIMEDES TECH SPAC PARTNER</nameOfIssuer>
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      <sshPrnamt>10377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10377</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03957W106</cusip>
    <value>19205633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>551886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>551886</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARCHROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03957W106</cusip>
    <value>337560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARCHROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03957W106</cusip>
    <value>25671960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>737700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>737700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCHROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03957W106</cusip>
    <value>306240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARCOS DORADOS HLDGS INC</nameOfIssuer>
    <titleOfClass>SHS CLASS -A -</titleOfClass>
    <cusip>G0457F107</cusip>
    <value>14306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1734</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <titleOfClass>SHS CLASS -A -</titleOfClass>
    <cusip>G0457F107</cusip>
    <value>1332895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161563</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>161563</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARCOS DORADOS HLDGS INC</nameOfIssuer>
    <titleOfClass>SHS CLASS -A -</titleOfClass>
    <cusip>G0457F107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARCOSA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039653100</cusip>
    <value>3016074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28416</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ARCOSA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039653100</cusip>
    <value>424560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <otherManager>1</otherManager>
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      <Sole>49819</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>96500</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>96500</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARGENX SE</nameOfIssuer>
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      <Sole>204937</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARHAUS INC</nameOfIssuer>
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      <Sole>58331</Sole>
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      <Sole>268600</Sole>
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      <Sole>526409</Sole>
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      <Sole>18100</Sole>
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      <sshPrnamt>1577300</sshPrnamt>
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      <Sole>1577300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ARISTA NETWORKS INC</nameOfIssuer>
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      <Sole>739</Sole>
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  <infoTable>
    <nameOfIssuer>ARISTA NETWORKS INC</nameOfIssuer>
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      <Sole>1326700</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARK 21SHARES BITCOIN ETF</nameOfIssuer>
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      <Sole>188800</Sole>
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      <Sole>47400</Sole>
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  <infoTable>
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  <infoTable>
    <nameOfIssuer>ARK ETF TR</nameOfIssuer>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>465700</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>4700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>26192</sshPrnamt>
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  <infoTable>
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      <sshPrnamt>23659</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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    <nameOfIssuer>BABCOCK &amp; WILCOX ENTERPRISES</nameOfIssuer>
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    <nameOfIssuer>BABCOCK &amp; WILCOX ENTERPRISES</nameOfIssuer>
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    <nameOfIssuer>BABCOCK &amp; WILCOX ENTERPRISES</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>13700</Sole>
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  <infoTable>
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      <sshPrnamt>353300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>353300</Sole>
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      <None>0</None>
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      <Sole>5690</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO MACRO S A</nameOfIssuer>
    <titleOfClass>SPON ADR B</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>112800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>112800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO SANTANDER BRASIL S A</nameOfIssuer>
    <titleOfClass>ADS REP 1 UNIT</titleOfClass>
    <cusip>05967A107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>53648</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53648</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO SANTANDER BRASIL S A</nameOfIssuer>
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    <cusip>05967A107</cusip>
    <value>61079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO SANTANDER BRASIL S A</nameOfIssuer>
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    <cusip>05967A107</cusip>
    <value>1123184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>189407</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>189407</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO SANTANDER BRASIL S A</nameOfIssuer>
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    <cusip>05967A107</cusip>
    <value>93694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO SANTANDER CHILE NEW</nameOfIssuer>
    <titleOfClass>SP ADR REP COM</titleOfClass>
    <cusip>05965X109</cusip>
    <value>4353890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130356</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130356</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCO SANTANDER CHILE NEW</nameOfIssuer>
    <titleOfClass>SP ADR REP COM</titleOfClass>
    <cusip>05965X109</cusip>
    <value>4426502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132530</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132530</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BANCO SANTANDER SA</nameOfIssuer>
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    <cusip>05964H105</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>283200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>283200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>05964H105</cusip>
    <value>807648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>71600</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BANCORP INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05969A105</cusip>
    <value>12592109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>234359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>234359</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCORP INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05969A105</cusip>
    <value>333126</value>
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      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANCORP INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05969A105</cusip>
    <value>1018828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18962</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANDWIDTH INC</nameOfIssuer>
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    <cusip>05988J103</cusip>
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      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANDWIDTH INC</nameOfIssuer>
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    <cusip>05988J103</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>220849</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>220849</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANDWIDTH INC</nameOfIssuer>
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    <cusip>05988J103</cusip>
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      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>75300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANK AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1877802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1877802</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANK AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>4280250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANK AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>557885250</value>
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      <sshPrnamt>11443800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11443800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>345638</value>
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      <sshPrnamt>7090</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7090</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>309762375</value>
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      <sshPrnamt>6354100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6354100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK FIRST CORP</nameOfIssuer>
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      <sshPrnamt>19155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>19155</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK HAWAII CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>062540109</cusip>
    <value>67034459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>902821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>902821</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK HAWAII CORP</nameOfIssuer>
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    <value>1381050</value>
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      <sshPrnamt>18600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK HAWAII CORP</nameOfIssuer>
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    <value>4352609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58621</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>58621</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK HAWAII CORP</nameOfIssuer>
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    <cusip>062540109</cusip>
    <value>1388475</value>
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      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANK MONTREAL MEDIUM</nameOfIssuer>
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    <cusip>063671101</cusip>
    <value>9490718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70125</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70125</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK MONTREAL MEDIUM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>159700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>159700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK MONTREAL MEDIUM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>140754</value>
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      <sshPrnamt>1040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1040</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <value>13940020</value>
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      <sshPrnamt>103000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>103000</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>10027</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>10027</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>22456</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>22456</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>CAL LKD 41</titleOfClass>
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      <sshPrnamt>17889</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17889</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>2X LEVERAGED</titleOfClass>
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    <value>538676</value>
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      <sshPrnamt>6174</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6174</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BANK MONTREAL MEDIUM</nameOfIssuer>
    <titleOfClass>NT LKD 38</titleOfClass>
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      <sshPrnamt>44453</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44453</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANK MONTREAL MEDIUM</nameOfIssuer>
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    <cusip>06368B504</cusip>
    <value>333816</value>
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      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>5600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BANK MONTREAL MEDIUM</nameOfIssuer>
    <titleOfClass>MICROSECTORS GOL</titleOfClass>
    <cusip>06368M302</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>6926</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33500</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>BAYTEX ENERGY CORP</nameOfIssuer>
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      <sshPrnamt>709757</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>709757</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BAYTEX ENERGY CORP</nameOfIssuer>
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    <value>215454</value>
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      <sshPrnamt>48200</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>48200</Sole>
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      <None>0</None>
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    <nameOfIssuer>BBB FOODS INC</nameOfIssuer>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>16200</Sole>
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      <None>0</None>
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      <sshPrnamt>8100</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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    <nameOfIssuer>BBH TR</nameOfIssuer>
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    <otherManager>1</otherManager>
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      <None>0</None>
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      <sshPrnamt>120172</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>120172</Sole>
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      <None>0</None>
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      <sshPrnamt>14500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>14500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BCE INC</nameOfIssuer>
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      <sshPrnamt>378934</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>378934</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BCE INC</nameOfIssuer>
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      <sshPrnamt>235000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>235000</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>05534B760</cusip>
    <value>1505465</value>
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      <sshPrnamt>59646</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59646</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>1405868</value>
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      <sshPrnamt>55700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>55700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BCP INVESTMENT CORPORATION</nameOfIssuer>
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      <sshPrnamt>24200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>24200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BEACON FINANCIAL CORP.</nameOfIssuer>
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      <sshPrnamt>35699</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35699</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BEACON FINANCIAL CORP.</nameOfIssuer>
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      <sshPrnamt>123535</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>123535</Sole>
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      <None>0</None>
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      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>21000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BEAM GLOBAL</nameOfIssuer>
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      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15000</Sole>
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      <None>0</None>
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      <sshPrnamt>347594</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>347594</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BEAM THERAPEUTICS INC</nameOfIssuer>
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      <sshPrnamt>232400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>232400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BEAM THERAPEUTICS INC</nameOfIssuer>
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      <sshPrnamt>181376</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>181376</Sole>
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  <infoTable>
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      <sshPrnamt>44700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>44700</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>22273</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>275400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>275400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BEAZER HOMES USA INC</nameOfIssuer>
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      <sshPrnamt>66195</sshPrnamt>
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      <Sole>66195</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BEAZER HOMES USA INC</nameOfIssuer>
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      <sshPrnamt>114100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>114100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BECTON DICKINSON &amp; CO</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>827203</Sole>
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  <infoTable>
    <nameOfIssuer>BECTON DICKINSON &amp; CO</nameOfIssuer>
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      <sshPrnamt>47500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>47500</Sole>
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  <infoTable>
    <nameOfIssuer>BECTON DICKINSON &amp; CO</nameOfIssuer>
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      <sshPrnamt>2298</sshPrnamt>
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  <infoTable>
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      <sshPrnamt>63100</sshPrnamt>
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  <infoTable>
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      <sshPrnamt>188</sshPrnamt>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>61900</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>690370101</cusip>
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      <sshPrnamt>301606</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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    <cusip>690370101</cusip>
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      <sshPrnamt>291000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>291000</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>32527</Sole>
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  <infoTable>
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      <sshPrnamt>29000</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>29000</Sole>
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  <infoTable>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1800</Sole>
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  <infoTable>
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      <Sole>154000</Sole>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE ETHEREUM ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>091955104</cusip>
    <value>355500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BITWISE ETHEREUM ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>091955104</cusip>
    <value>175440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11696</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11696</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE FUNDS TRUST</nameOfIssuer>
    <titleOfClass>BITCOIN STANDARD</titleOfClass>
    <cusip>091748509</cusip>
    <value>310932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18986</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE FUNDS TRUST</nameOfIssuer>
    <titleOfClass>CRYPTO INDUSTRY</titleOfClass>
    <cusip>09175C103</cusip>
    <value>239522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE FUNDS TRUST</nameOfIssuer>
    <titleOfClass>CRYPTO INDUSTRY</titleOfClass>
    <cusip>09175C103</cusip>
    <value>808113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42848</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE SOLANA STAKING ETF</nameOfIssuer>
    <titleOfClass>COM SHS OF BENEF</titleOfClass>
    <cusip>091948109</cusip>
    <value>876265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>79300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE SOLANA STAKING ETF</nameOfIssuer>
    <titleOfClass>COM SHS OF BENEF</titleOfClass>
    <cusip>091948109</cusip>
    <value>20577719</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1862237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1862237</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BITWISE SOLANA STAKING ETF</nameOfIssuer>
    <titleOfClass>COM SHS OF BENEF</titleOfClass>
    <cusip>091948109</cusip>
    <value>2191215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>198300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE XRP ETF</nameOfIssuer>
    <titleOfClass>BENEFICIAL INT</titleOfClass>
    <cusip>09174F107</cusip>
    <value>324648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BITWISE XRP ETF</nameOfIssuer>
    <titleOfClass>BENEFICIAL INT</titleOfClass>
    <cusip>09174F107</cusip>
    <value>357173</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23764</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BJS RESTAURANTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09180C106</cusip>
    <value>382590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BJS RESTAURANTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09180C106</cusip>
    <value>368726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10505</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BJS RESTAURANTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09180C106</cusip>
    <value>336960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BJS WHSL CLUB HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05550J101</cusip>
    <value>139952748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1421995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1421995</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BJS WHSL CLUB HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05550J101</cusip>
    <value>16849504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>171200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BJS WHSL CLUB HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05550J101</cusip>
    <value>28379309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>288349</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>288349</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BJS WHSL CLUB HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05550J101</cusip>
    <value>3887590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BK TECHNOLOGIES CORPORATION</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>05587G203</cusip>
    <value>327253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4385</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BKV CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05603J108</cusip>
    <value>14443355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>506429</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>506429</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BKV CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05603J108</cusip>
    <value>49454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1734</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK DIAMOND THERAPEUTICS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09203E105</cusip>
    <value>916976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>430505</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACK DIAMOND THERAPEUTICS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09203E105</cusip>
    <value>23430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK DIAMOND THERAPEUTICS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09203E105</cusip>
    <value>153673</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72147</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>72147</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK DIAMOND THERAPEUTICS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09203E105</cusip>
    <value>193617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>90900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK HILLS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>092113109</cusip>
    <value>35850057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>516497</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>516497</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACK HILLS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>092113109</cusip>
    <value>18608821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>268100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>268100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK HILLS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>092113109</cusip>
    <value>26828145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>386517</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>386517</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK HILLS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>092113109</cusip>
    <value>9717400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>140000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK ROCK COFFEE BAR INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>092244102</cusip>
    <value>1985752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153696</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>153696</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACK ROCK COFFEE BAR INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>092244102</cusip>
    <value>1710350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132380</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK ROCK COFFEE BAR INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>092244102</cusip>
    <value>136952</value>
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      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BLACK STONE MINERALS L P</nameOfIssuer>
    <titleOfClass>COM UNIT</titleOfClass>
    <cusip>09225M101</cusip>
    <value>1552824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>102700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKBAUD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09227Q100</cusip>
    <value>4046984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104817</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104817</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKBAUD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09227Q100</cusip>
    <value>1817682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>47078</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKBAUD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09227Q100</cusip>
    <value>200772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5200</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKBERRY LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09228F103</cusip>
    <value>328860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>101500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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      <None>0</None>
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  <infoTable>
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  <infoTable>
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    <nameOfIssuer>BLUE ACQUISITION CORP.</nameOfIssuer>
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      <sshPrnamt>72512</sshPrnamt>
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      <Sole>72512</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLUE ACQUISITION CORP.</nameOfIssuer>
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      <sshPrnamt>250000</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>250000</None>
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    <nameOfIssuer>BLUE BIRD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>77037</sshPrnamt>
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      <Sole>77037</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLUE BIRD CORP</nameOfIssuer>
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      <sshPrnamt>15500</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>BLUE BIRD CORP</nameOfIssuer>
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      <sshPrnamt>93</sshPrnamt>
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    <nameOfIssuer>BLUE BIRD CORP</nameOfIssuer>
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      <sshPrnamt>11600</sshPrnamt>
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    <nameOfIssuer>BLUE FOUNDRY BANCORP</nameOfIssuer>
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      <sshPrnamt>47700</sshPrnamt>
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      <Sole>47700</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLUE MOON METALS INC</nameOfIssuer>
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      <sshPrnamt>10908</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>BLUE OWL CAPITAL CORPORATION</nameOfIssuer>
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    <nameOfIssuer>BLUE OWL CAPITAL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>314800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>314800</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLUE OWL CAPITAL INC</nameOfIssuer>
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    <nameOfIssuer>BLUE OWL CAPITAL INC</nameOfIssuer>
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      <Sole>2847000</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLUE RIDGE BANKSHARES INC VA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <Sole>13200</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLUE RIDGE BANKSHARES INC VA</nameOfIssuer>
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      <sshPrnamt>43625</sshPrnamt>
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    <nameOfIssuer>BLUE RIDGE BANKSHARES INC VA</nameOfIssuer>
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      <sshPrnamt>5940</sshPrnamt>
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  <infoTable>
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    <putCall>Put</putCall>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>3100</Sole>
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      <None>0</None>
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      <sshPrnamt>502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>502</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BRERA HOLDINGS PLC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>1110028</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1110028</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>BRIACELL THERAPEUTICS CORP</nameOfIssuer>
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      <sshPrnamt>1048759</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1048759</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BRIDGEBIO ONCOLOGY THERAPEUT</nameOfIssuer>
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      <sshPrnamt>2528762</sshPrnamt>
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    <votingAuthority>
      <Sole>2528762</Sole>
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      <None>0</None>
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    <nameOfIssuer>BRIDGEBIO PHARMA INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>2957426</Sole>
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      <None>0</None>
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    <nameOfIssuer>BRIDGEBIO PHARMA INC</nameOfIssuer>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>161600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BRIDGEBIO PHARMA INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>216514</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BRIDGEBIO PHARMA INC</nameOfIssuer>
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    <cusip>10806X102</cusip>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>54700</Sole>
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      <None>0</None>
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      <Sole>56085</Sole>
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    <nameOfIssuer>BRIDGEWATER BANCSHARES INC</nameOfIssuer>
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      <Sole>6623</Sole>
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      <None>0</None>
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    <nameOfIssuer>BRIDGEWATER BANCSHARES INC</nameOfIssuer>
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    <nameOfIssuer>BRIGHT HORIZONS FAM SOL IN D</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>BRIGHT HORIZONS FAM SOL IN D</nameOfIssuer>
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    <value>254603</value>
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      <None>0</None>
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    <nameOfIssuer>BRIGHT HORIZONS FAM SOL IN D</nameOfIssuer>
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    <cusip>109194100</cusip>
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      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>BRIGHTHOUSE FINL INC</nameOfIssuer>
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      <Sole>136400</Sole>
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    <nameOfIssuer>BRIGHTHOUSE FINL INC</nameOfIssuer>
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      <sshPrnamt>83600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>83600</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>152746</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>33800</sshPrnamt>
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    <putCall>Call</putCall>
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      <None>0</None>
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      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>7800</Sole>
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      <None>0</None>
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      <sshPrnamt>2925982</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>2925982</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BRIGHTSTAR LOTTERY PLC</nameOfIssuer>
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      <sshPrnamt>75800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>75800</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>1076</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1076</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BRIGHTSTAR LOTTERY PLC</nameOfIssuer>
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      <sshPrnamt>28000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>28000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BRINKER INTL INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1003169</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BRINKER INTL INC</nameOfIssuer>
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      <sshPrnamt>52900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>52900</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>128345</Sole>
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  <infoTable>
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      <sshPrnamt>85000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>85000</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>28520</Sole>
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  <infoTable>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>22900</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>154349</Sole>
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  <infoTable>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>19300</Sole>
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  <infoTable>
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      <sshPrnamt>600248</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>600248</Sole>
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  <infoTable>
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      <sshPrnamt>4782000</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>4782000</Sole>
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  <infoTable>
    <nameOfIssuer>BRISTOL-MYERS SQUIBB CO</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>BROOKFIELD RENEWABLE CORP</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>28400</Sole>
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      <sshPrnamt>41800</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>BROOKFIELD RENEWABLE ENERGY</nameOfIssuer>
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    <nameOfIssuer>BROOKFIELD RENEWABLE ENERGY</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <putCall>Call</putCall>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>52900</Sole>
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      <None>0</None>
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    <otherManager>1</otherManager>
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    <nameOfIssuer>BTC DEV CORP</nameOfIssuer>
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      <sshPrnamt>10073</sshPrnamt>
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      <None>0</None>
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    <nameOfIssuer>BTCS INC</nameOfIssuer>
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      <Sole>661</Sole>
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      <None>0</None>
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      <sshPrnamt>148500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>14016</sshPrnamt>
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      <None>0</None>
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      <sshPrnamt>323400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>323400</Sole>
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      <None>0</None>
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    <nameOfIssuer>BTQ TECHNOLOGIES CORP</nameOfIssuer>
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    <cusip>055869101</cusip>
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      <sshPrnamt>113600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>113600</Sole>
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      <None>0</None>
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    <nameOfIssuer>BTQ TECHNOLOGIES CORP</nameOfIssuer>
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      <sshPrnamt>60300</sshPrnamt>
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    <putCall>Put</putCall>
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    <otherManager>1</otherManager>
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      <Sole>60300</Sole>
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      <None>0</None>
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    <nameOfIssuer>BUCKLE INC</nameOfIssuer>
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      <sshPrnamt>43257</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>43257</Sole>
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      <None>0</None>
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    <nameOfIssuer>BUCKLE INC</nameOfIssuer>
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      <sshPrnamt>66500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>66500</Sole>
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      <None>0</None>
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    <nameOfIssuer>BUCKLE INC</nameOfIssuer>
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    <cusip>118440106</cusip>
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      <Sole>29180</Sole>
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      <sshPrnamt>28700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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    <nameOfIssuer>BUDA JUICE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>31693</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>31693</Sole>
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      <None>0</None>
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      <sshPrnamt>45600</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>45600</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>61500</Sole>
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      <None>0</None>
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      <sshPrnamt>146079</sshPrnamt>
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      <Sole>146079</Sole>
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  <infoTable>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>BUILDERS FIRSTSOURCE INC</nameOfIssuer>
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      <sshPrnamt>391190</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <sshPrnamt>168700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>168700</Sole>
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    <nameOfIssuer>BULLISH</nameOfIssuer>
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      <sshPrnamt>595100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>595100</Sole>
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      <None>0</None>
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      <sshPrnamt>221600</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>221600</Sole>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>505400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>505400</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>222268</sshPrnamt>
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      <Sole>222268</Sole>
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  <infoTable>
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      <sshPrnamt>251800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>251800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>BUNGE GLOBAL SA</nameOfIssuer>
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    <cusip>H11356104</cusip>
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      <Sole>608219</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>342500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>342500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>273281</sshPrnamt>
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      <Sole>273281</Sole>
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  <infoTable>
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    <cusip>H11356104</cusip>
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      <sshPrnamt>118900</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>118900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BURFORD CAPITAL LIMITED</nameOfIssuer>
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    <cusip>G17977110</cusip>
    <value>2030370</value>
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      <sshPrnamt>449197</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>449197</Sole>
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      <None>0</None>
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      <sshPrnamt>97700</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>97700</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>G17977110</cusip>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>822139</Sole>
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  <infoTable>
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    <cusip>G17977110</cusip>
    <value>880496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>194800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>BURKE HERBERT FINL SVCS CORP</nameOfIssuer>
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      <sshPrnamt>2032</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2032</Sole>
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      <None>0</None>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>109500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAL MAINE FOODS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>128030202</cusip>
    <value>19887704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>251266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>251266</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAL MAINE FOODS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>128030202</cusip>
    <value>13502990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>170600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALAMOS DYNAMIC CONV &amp; INCOM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12811V105</cusip>
    <value>453071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21241</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALAMOS ETF TR</nameOfIssuer>
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    <value>1772417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>54207</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALAMOS ETF TR</nameOfIssuer>
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    <cusip>12811T571</cusip>
    <value>331848</value>
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      <sshPrnamt>13200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>13200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALAMOS ETF TR</nameOfIssuer>
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    <cusip>12811T571</cusip>
    <value>874872</value>
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      <sshPrnamt>34800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>34800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALAVO GROWERS INC</nameOfIssuer>
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    <value>26</value>
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      <sshPrnamt>1</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALAVO GROWERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>270666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10495</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10495</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALCIMEDICA INC</nameOfIssuer>
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      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALEDONIA MNG CORP</nameOfIssuer>
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    <cusip>G1757E113</cusip>
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      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>CALEDONIA MNG CORP</nameOfIssuer>
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    <cusip>G1757E113</cusip>
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      <sshPrnamt>55518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>55518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALEDONIA MNG CORP</nameOfIssuer>
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      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALERES INC</nameOfIssuer>
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    <cusip>129500104</cusip>
    <value>3447476</value>
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      <sshPrnamt>327085</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>327085</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALERES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>129500104</cusip>
    <value>895900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALERES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>129500104</cusip>
    <value>578098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>54848</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALERES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>129500104</cusip>
    <value>280364</value>
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      <sshPrnamt>26600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26600</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALIBERCOS INC</nameOfIssuer>
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      <sshPrnamt>21254</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21254</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALIFORNIA BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84252A106</cusip>
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      <sshPrnamt>66819</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66819</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CALIFORNIA RES CORP</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1905435</Sole>
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      <None>0</None>
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      <sshPrnamt>53976</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>53976</Sole>
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      <None>0</None>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14700</Sole>
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      <None>0</None>
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    <nameOfIssuer>CALIFORNIA WTR SVC GROUP</nameOfIssuer>
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      <sshPrnamt>17432</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>17432</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CALIFORNIA WTR SVC GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>17266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17266</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>411711</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>411711</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1430508</value>
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      <sshPrnamt>29200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>29200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALIX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13100M509</cusip>
    <value>807698</value>
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      <sshPrnamt>16487</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>16487</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CALIX INC</nameOfIssuer>
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      <sshPrnamt>6000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>6000</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1835570</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>79100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>79100</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>55500</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>55500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CALUMET INC</nameOfIssuer>
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      <sshPrnamt>449314</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>449314</Sole>
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      <None>0</None>
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  <infoTable>
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      <Sole>932200</Sole>
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      <None>0</None>
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  <infoTable>
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      <Sole>86719</Sole>
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      <None>0</None>
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  <infoTable>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>264100</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
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    <value>485640</value>
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      <sshPrnamt>6440</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>6440</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>21809</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>21809</Sole>
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  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
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      <sshPrnamt>9780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
    <titleOfClass>TACTICAL YIELD E</titleOfClass>
    <cusip>132061789</cusip>
    <value>296451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11792</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
    <titleOfClass>CANNABIS ETF</titleOfClass>
    <cusip>132061821</cusip>
    <value>63875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
    <titleOfClass>CANNABIS ETF</titleOfClass>
    <cusip>132061821</cusip>
    <value>260610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
    <titleOfClass>TRINITY</titleOfClass>
    <cusip>132061839</cusip>
    <value>656022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21977</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMBRIA ETF TR</nameOfIssuer>
    <titleOfClass>TAIL RISK</titleOfClass>
    <cusip>132061862</cusip>
    <value>1368899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>116900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMDEN PPTY TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>133131102</cusip>
    <value>2801475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28686</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMDEN PPTY TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>133131102</cusip>
    <value>742216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMDEN PPTY TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>133131102</cusip>
    <value>9571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>98</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMDEN PPTY TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>133131102</cusip>
    <value>1162154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMECO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13321L108</cusip>
    <value>18964827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174614</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174614</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMECO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13321L108</cusip>
    <value>149034642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1372200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1372200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMECO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13321L108</cusip>
    <value>29471541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>271352</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>271352</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMECO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13321L108</cusip>
    <value>127996885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1178500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1178500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMPING WORLD HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>13462K109</cusip>
    <value>10473470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1533451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1533451</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMPING WORLD HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>13462K109</cusip>
    <value>2291465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>335500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>335500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMPING WORLD HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>13462K109</cusip>
    <value>945272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>138400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMTEK LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>M20791105</cusip>
    <value>1958801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12920</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMTEK LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>M20791105</cusip>
    <value>4897003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMTEK LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>M20791105</cusip>
    <value>9878150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65155</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAMTEK LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>M20791105</cusip>
    <value>2380277</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAN FITE BIOFARMA LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>13471N409</cusip>
    <value>105865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANAAN INC</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>134748102</cusip>
    <value>185501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>429600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>429600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANAAN INC</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>134748102</cusip>
    <value>89210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>206600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADA GOOSE HLDGS INC</nameOfIssuer>
    <titleOfClass>SHS SUB VTG</titleOfClass>
    <cusip>135086106</cusip>
    <value>1950598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177812</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADA GOOSE HLDGS INC</nameOfIssuer>
    <titleOfClass>SHS SUB VTG</titleOfClass>
    <cusip>135086106</cusip>
    <value>1294460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>118000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADA GOOSE HLDGS INC</nameOfIssuer>
    <titleOfClass>SHS SUB VTG</titleOfClass>
    <cusip>135086106</cusip>
    <value>2599265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>236943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADA GOOSE HLDGS INC</nameOfIssuer>
    <titleOfClass>SHS SUB VTG</titleOfClass>
    <cusip>135086106</cusip>
    <value>235855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN IMPERIAL BANK OF CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136069101</cusip>
    <value>730617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7711</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7711</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN IMPERIAL BANK OF CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136069101</cusip>
    <value>13426075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>141700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN IMPERIAL BANK OF CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136069101</cusip>
    <value>2567725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN NAT RES LTD MED TER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136385101</cusip>
    <value>17972891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>368826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>368826</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN NAT RES LTD MED TER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136385101</cusip>
    <value>46044977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>944900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>944900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN NAT RES LTD MED TER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136385101</cusip>
    <value>13611556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279326</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>279326</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN NAT RES LTD MED TER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136385101</cusip>
    <value>28921255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>593500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>593500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN NATL RY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136375102</cusip>
    <value>117356043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1141929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1141929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CANADIAN NATL RY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136375102</cusip>
    <value>6875313</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>136375102</cusip>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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    <cusip>136375102</cusip>
    <value>3566119</value>
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      <sshPrnamt>34700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34700</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN PACIFIC KANSAS CITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13646K108</cusip>
    <value>21897528</value>
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      <sshPrnamt>278382</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN PACIFIC KANSAS CITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13646K108</cusip>
    <value>9824634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>124900</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN PACIFIC KANSAS CITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13646K108</cusip>
    <value>14101064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179266</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>179266</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN PACIFIC KANSAS CITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13646K108</cusip>
    <value>7134462</value>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>90700</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN SOLAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136635109</cusip>
    <value>13477435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>973100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>973100</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN SOLAR INC</nameOfIssuer>
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      <sshPrnamt>428900</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>428900</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANARY XRP ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>13723M100</cusip>
    <value>499070</value>
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      <sshPrnamt>34900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34900</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANARY XRP ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>13723M100</cusip>
    <value>362920</value>
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      <sshPrnamt>25379</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>25379</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANDEL THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>137404109</cusip>
    <value>265090</value>
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      <sshPrnamt>54100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>54100</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANDEL THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>137404109</cusip>
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      <Sole>72666</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANGO INC</nameOfIssuer>
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    <cusip>G1820C102</cusip>
    <value>4339</value>
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      <sshPrnamt>10556</sshPrnamt>
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      <Sole>10556</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANNAE HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <votingAuthority>
      <Sole>23294</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANNAE HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>252300</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>252300</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANNAE HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <otherManager>1</otherManager>
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      <Sole>72377</Sole>
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      <None>0</None>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>138035704</cusip>
    <value>90795</value>
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      <sshPrnamt>95654</sshPrnamt>
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    <votingAuthority>
      <Sole>95654</Sole>
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      <None>0</None>
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      <sshPrnamt>1451600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>1451600</Sole>
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      <None>0</None>
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    <cusip>138035704</cusip>
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    <putCall>Put</putCall>
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      <Sole>654700</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANTALOUPE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>138103106</cusip>
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    <nameOfIssuer>CANTALOUPE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>138103106</cusip>
    <value>2384578</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>220590</Sole>
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      <None>0</None>
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    <cusip>G1827K107</cusip>
    <value>135450</value>
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      <sshPrnamt>12900</sshPrnamt>
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      <Sole>12900</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANTOR EQUITY PARTNERS I INC</nameOfIssuer>
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    <cusip>G1827K107</cusip>
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      <sshPrnamt>48801</sshPrnamt>
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      <Sole>48801</Sole>
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    <nameOfIssuer>CANTOR EQUITY PARTNERS III I</nameOfIssuer>
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    <value>1288771</value>
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      <sshPrnamt>125002</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <cusip>G1828A108</cusip>
    <value>83006</value>
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      <sshPrnamt>8051</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>8051</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANTOR EQUITY PARTNERS IV IN</nameOfIssuer>
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    <cusip>G1828E100</cusip>
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      <sshPrnamt>750003</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>750003</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANTOR EQUITY PARTNERS IV IN</nameOfIssuer>
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    <cusip>G1828E100</cusip>
    <value>3142443</value>
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      <sshPrnamt>308385</sshPrnamt>
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    <nameOfIssuer>CANTOR EQUITY PARTNERS VI IN</nameOfIssuer>
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      <sshPrnamt>25000</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAPITAL BANCORP INC MD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>139737100</cusip>
    <value>1607388</value>
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      <Sole>54048</Sole>
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      <None>0</None>
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    <nameOfIssuer>CAPITAL BANCORP INC MD</nameOfIssuer>
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    <cusip>139737100</cusip>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>139674105</cusip>
    <value>828521</value>
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    <votingAuthority>
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    <titleOfClass>COM</titleOfClass>
    <cusip>139674105</cusip>
    <value>989975</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>22779</Sole>
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      <None>0</None>
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    <cusip>14020U100</cusip>
    <value>19302154</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>647506</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAPITAL GROUP CORE BALANCED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>14021D107</cusip>
    <value>7656569</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>222510</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAPITAL GROUP DIVIDEND GROWE</nameOfIssuer>
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    <cusip>14021L109</cusip>
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      <sshPrnamt>451318</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>451318</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAPITAL GROUP EQUITY ETF TR</nameOfIssuer>
    <titleOfClass>US SMALL AND MID</titleOfClass>
    <cusip>14022A102</cusip>
    <value>303729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10345</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>10345</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL GROUP GBL GROWTH EQT</nameOfIssuer>
    <titleOfClass>SHS CREATION UNI</titleOfClass>
    <cusip>14020X104</cusip>
    <value>6483724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194298</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>194298</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GROUP INTERNATIONAL</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>14021M107</cusip>
    <value>2312781</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>68385</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GROUP INTERNATIONAL</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>14021T102</cusip>
    <value>2501891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75563</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75563</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GROUP NEW GEOGRAPHY</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>14021N105</cusip>
    <value>4196916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132940</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>CORE PLUS INCM</titleOfClass>
    <cusip>14020Y102</cusip>
    <value>9606848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430029</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>430029</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>MUNICIPAL INCOME</titleOfClass>
    <cusip>14020Y201</cusip>
    <value>1581922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>58266</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>US MULTI-SECTOR</titleOfClass>
    <cusip>14020Y300</cusip>
    <value>5587732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>205205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>SHORT DURATION</titleOfClass>
    <cusip>14020Y409</cusip>
    <value>3525674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>136707</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>CORE BOND ETF</titleOfClass>
    <cusip>14020Y508</cusip>
    <value>7428586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>282886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>282886</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>INTERNATIONAL BD</titleOfClass>
    <cusip>14020Y706</cusip>
    <value>712712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28243</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28243</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>MUNICIPAL HIGH I</titleOfClass>
    <cusip>14020Y805</cusip>
    <value>3893659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>153778</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>HIGH YIELD BOND</titleOfClass>
    <cusip>14020Y870</cusip>
    <value>226773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9051</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9051</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL GRP FIXED INCM ETF T</nameOfIssuer>
    <titleOfClass>ULTRA SHORT INCO</titleOfClass>
    <cusip>14020Y888</cusip>
    <value>308896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12219</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>145944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>233855375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1281891</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1281891</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>164187</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>191319996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1048731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1048731</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>20861600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114354</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>114354</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040H105</cusip>
    <value>60408593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331133</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>331133</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITAL SOUTHWEST CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>140501107</cusip>
    <value>1192268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL SOUTHWEST CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>140501107</cusip>
    <value>475580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITOL FED FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14057J101</cusip>
    <value>697892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97881</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAPITOL SER TR</nameOfIssuer>
    <titleOfClass>STERLING CAP ENH</titleOfClass>
    <cusip>14064D444</cusip>
    <value>2521670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>100525</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRI HOLDINGS LIMITED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G1890L107</cusip>
    <value>24010104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1362662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1362662</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRI HOLDINGS LIMITED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G1890L107</cusip>
    <value>12397432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>703600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>703600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRI HOLDINGS LIMITED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G1890L107</cusip>
    <value>7292601</value>
    <shrsOrPrnAmt>
      <sshPrnamt>413882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>413882</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRI HOLDINGS LIMITED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G1890L107</cusip>
    <value>6357296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>360800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>360800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRICOR THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>14070B309</cusip>
    <value>5953110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>195826</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRICOR THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>14070B309</cusip>
    <value>17148640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>564100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>564100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRICOR THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>14070B309</cusip>
    <value>10439542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>343406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>343406</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPRICOR THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>14070B309</cusip>
    <value>10229600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>336500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPTIVISION INC</nameOfIssuer>
    <titleOfClass>*W EXP 11/15/202</titleOfClass>
    <cusip>G18932114</cusip>
    <value>1363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22759</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>22759</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARDIFF ONCOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14147L108</cusip>
    <value>16566</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10226</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARDIFF ONCOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14147L108</cusip>
    <value>370980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>229000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>229000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARDIFF ONCOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14147L108</cusip>
    <value>186851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>115340</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>491202774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2324560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2324560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>49552195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>234500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>234500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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      <sshPrnamt>17100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>4195888</sshPrnamt>
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    <votingAuthority>
      <Sole>4195888</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
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      <sshPrnamt>31400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
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      <sshPrnamt>2857800</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>2857800</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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      <sshPrnamt>496570</sshPrnamt>
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      <Sole>496570</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
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      <sshPrnamt>5146700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>5146700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <votingAuthority>
      <Sole>625906</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>9200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>26500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>26500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CARPARTS COM INC</nameOfIssuer>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>124800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>467796</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>467796</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CARPENTER TECHNOLOGY CORP</nameOfIssuer>
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      <sshPrnamt>30467</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30467</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARPENTER TECHNOLOGY CORP</nameOfIssuer>
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    <cusip>144285103</cusip>
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      <sshPrnamt>61300</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>61300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARPENTER TECHNOLOGY CORP</nameOfIssuer>
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      <Sole>1</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CARPENTER TECHNOLOGY CORP</nameOfIssuer>
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    <cusip>144285103</cusip>
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      <sshPrnamt>26100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>26100</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CARRIAGE SVCS INC</nameOfIssuer>
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      <sshPrnamt>944</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>944</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARRIAGE SVCS INC</nameOfIssuer>
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      <sshPrnamt>36849</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36849</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL CORPORATION</nameOfIssuer>
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      <sshPrnamt>3595089</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3595089</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL CORPORATION</nameOfIssuer>
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      <sshPrnamt>530400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>530400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL CORPORATION</nameOfIssuer>
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      <sshPrnamt>16714</sshPrnamt>
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      <Sole>16714</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL CORPORATION</nameOfIssuer>
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      <sshPrnamt>376400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>376400</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CARS COM INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>327346</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARS COM INC</nameOfIssuer>
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      <sshPrnamt>212904</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>212904</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARTER BANKSHARES INC</nameOfIssuer>
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      <sshPrnamt>135665</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>135665</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>333895</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARTERS INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>15700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARTERS INC</nameOfIssuer>
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      <Sole>217389</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARTERS INC</nameOfIssuer>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>11800</Sole>
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      <None>0</None>
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  <infoTable>
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      <Sole>100879</Sole>
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  <infoTable>
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      <Sole>9249</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>39232</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARVANA CO</nameOfIssuer>
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      <sshPrnamt>4508500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4508500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARVANA CO</nameOfIssuer>
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    <cusip>146869102</cusip>
    <value>2777862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8836</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CARVANA CO</nameOfIssuer>
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      <sshPrnamt>2092800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2092800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASELLA WASTE SYS INC</nameOfIssuer>
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    <cusip>147448104</cusip>
    <value>2756986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34749</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34749</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CASELLA WASTE SYS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
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    <value>309426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>3900</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CASEYS GEN STORES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>147528103</cusip>
    <value>363930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CASEYS GEN STORES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>147528103</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>45801</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45801</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASEYS GEN STORES INC</nameOfIssuer>
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    <value>27221964</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <value>24310524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CASS INFORMATION SYS INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>224</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASS INFORMATION SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>2373734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53924</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53924</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASTLE BIOSCIENCES INC</nameOfIssuer>
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    <value>801116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32632</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32632</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASTLE BIOSCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>797875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>32500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASTLE BIOSCIENCES INC</nameOfIssuer>
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    <cusip>14843C105</cusip>
    <value>2168870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88345</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>88345</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CASTLE BIOSCIENCES INC</nameOfIssuer>
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    <cusip>14843C105</cusip>
    <value>306875</value>
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      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CASTOR MARITIME INC</nameOfIssuer>
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      <sshPrnamt>37100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>37100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CATALYST BANCORP INC</nameOfIssuer>
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      <sshPrnamt>13001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13001</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CATALYST PHARMACEUTICALS INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>147464</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147464</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATALYST PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14888U101</cusip>
    <value>304548</value>
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      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>12300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATALYST PHARMACEUTICALS INC</nameOfIssuer>
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    <cusip>14888U101</cusip>
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      <sshPrnamt>433629</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>433629</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATALYST PHARMACEUTICALS INC</nameOfIssuer>
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    <cusip>14888U101</cusip>
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      <sshPrnamt>38000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
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      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
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    <cusip>149123101</cusip>
    <value>219288915</value>
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      <sshPrnamt>309529</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>309529</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
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    <cusip>149123101</cusip>
    <value>495922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
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    <cusip>149123101</cusip>
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      <sshPrnamt>2032300</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>2032300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
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      <sshPrnamt>1595400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1595400</Sole>
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      <None>0</None>
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      <sshPrnamt>25972</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25972</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CATHAY GEN BANCORP</nameOfIssuer>
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      <sshPrnamt>46208</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46208</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>321200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>321200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CATO CORP NEW</nameOfIssuer>
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      <sshPrnamt>34446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34446</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CATO CORP NEW</nameOfIssuer>
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      <sshPrnamt>52200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>52200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAVA GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>1074014</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1074014</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAVA GROUP INC</nameOfIssuer>
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    <value>83076210</value>
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      <sshPrnamt>1026900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1026900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAVA GROUP INC</nameOfIssuer>
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    <cusip>148929102</cusip>
    <value>12475670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154211</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>154211</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CAVA GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>148929102</cusip>
    <value>34900260</value>
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      <sshPrnamt>431400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>431400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAVCO INDS INC DEL</nameOfIssuer>
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      <sshPrnamt>6202</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6202</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAVCO INDS INC DEL</nameOfIssuer>
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    <value>1404441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAVCO INDS INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>18983</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18983</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CAVCO INDS INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149568107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CB FINL SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12479G101</cusip>
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      <sshPrnamt>6126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>6126</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CBIZ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14500</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CBIZ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>103645</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>103645</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COMMON STOCK</titleOfClass>
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      <sshPrnamt>7358</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7358</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAIS ELET BRAS SA</nameOfIssuer>
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    <cusip>15234Q207</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>409971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>409971</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAIS ELET BRAS SA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>15234Q207</cusip>
    <value>823474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73003</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73003</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAIS ELET BRAS SA</nameOfIssuer>
    <titleOfClass>SPON ADS PF CL C</titleOfClass>
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    <value>112531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>10305</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL GARDEN &amp; PET CO</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>289</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>289</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL GARDEN &amp; PET CO</nameOfIssuer>
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    <cusip>153527205</cusip>
    <value>46231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1426</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL GARDEN &amp; PET CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>153527106</cusip>
    <value>455948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL GARDEN &amp; PET CO</nameOfIssuer>
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    <cusip>153527106</cusip>
    <value>1286068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34976</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL GARDEN &amp; PET CO</nameOfIssuer>
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    <cusip>153527205</cusip>
    <value>1214388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37458</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37458</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>89952</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89952</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL PAC FINL CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>154760409</cusip>
    <value>837352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL PAC FINL CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>154760409</cusip>
    <value>753489</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23576</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23576</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL PUERTO S A</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>155038201</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>166353</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166353</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL PUERTO S A</nameOfIssuer>
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    <cusip>155038201</cusip>
    <value>289476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL PUERTO S A</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>155038201</cusip>
    <value>2593856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154121</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>154121</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRAL PUERTO S A</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>155038201</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRUS ENERGY CORP</nameOfIssuer>
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    <cusip>15643U104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>8908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8908</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRUS ENERGY CORP</nameOfIssuer>
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    <cusip>15643U104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>365200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>365200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRUS ENERGY CORP</nameOfIssuer>
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    <cusip>15643U104</cusip>
    <value>12124046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69843</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>69843</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTRUS ENERGY CORP</nameOfIssuer>
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    <cusip>15643U104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>391300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>391300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURI HOLDINGS INC</nameOfIssuer>
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    <value>2651947</value>
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      <sshPrnamt>90789</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90789</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURI HOLDINGS INC</nameOfIssuer>
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    <cusip>155923105</cusip>
    <value>1057402</value>
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      <sshPrnamt>36200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURI HOLDINGS INC</nameOfIssuer>
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    <cusip>155923105</cusip>
    <value>5329131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182442</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>182442</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURI HOLDINGS INC</nameOfIssuer>
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    <value>204470</value>
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      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTURY ALUM CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156431108</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1107257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1107257</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTURY ALUM CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156431108</cusip>
    <value>10969161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>186900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY ALUM CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156431108</cusip>
    <value>12536771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>213610</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY ALUM CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156431108</cusip>
    <value>10722663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>182700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY CASINOS INC</nameOfIssuer>
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    <value>47260</value>
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      <sshPrnamt>34000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTURY CASINOS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156492100</cusip>
    <value>115858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83351</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>83351</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY CASINOS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156492100</cusip>
    <value>33499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24100</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTURY COMMUNITIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156504300</cusip>
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      <sshPrnamt>21680</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21680</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY COMMUNITIES INC</nameOfIssuer>
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    <value>338542</value>
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      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY COMMUNITIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>156504300</cusip>
    <value>493468</value>
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      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>8600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CENTURY THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>101806</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101806</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>CERAGON NETWORKS LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
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      <sshPrnamt>154100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>154100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CERAGON NETWORKS LTD</nameOfIssuer>
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      <Sole>5422</Sole>
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    <nameOfIssuer>CITY HLDG CO</nameOfIssuer>
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      <sshPrnamt>43021</sshPrnamt>
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      <Sole>16598</Sole>
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      <Sole>37656</Sole>
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      <sshPrnamt>10297</sshPrnamt>
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      <Sole>15026</Sole>
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      <Sole>48100</Sole>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>11900</Sole>
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    <cusip>G21810109</cusip>
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      <Sole>15671439</Sole>
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      <Sole>2015508</Sole>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>16800</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>42000</Sole>
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      <sshPrnamt>15700</sshPrnamt>
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      <Sole>15700</Sole>
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    </votingAuthority>
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      <None>0</None>
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      <Sole>144146</Sole>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>34400</Sole>
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      <None>0</None>
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      <None>0</None>
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      <Sole>21000</Sole>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>171000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>171000</Sole>
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      <None>0</None>
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      <sshPrnamt>52644</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <sshPrnamt>77900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>268200</Sole>
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      <None>0</None>
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      <sshPrnamt>38500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>38500</Sole>
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      <None>0</None>
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      <sshPrnamt>10120305</sshPrnamt>
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      <Sole>10120305</Sole>
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      <sshPrnamt>608204</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>608204</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>200047</Sole>
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  <infoTable>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>18200</Sole>
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  <infoTable>
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      <sshPrnamt>122953</sshPrnamt>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>179200</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>179200</Sole>
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  <infoTable>
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      <sshPrnamt>74200</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>74200</Sole>
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  <infoTable>
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      <sshPrnamt>721410</sshPrnamt>
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  <infoTable>
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  <infoTable>
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      <Sole>72112</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>70200</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86769</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COVISTA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00737L103</cusip>
    <value>2466350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COVISTA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00737L103</cusip>
    <value>157547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1367</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COVISTA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00737L103</cusip>
    <value>795225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>COYA THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>22407B108</cusip>
    <value>66424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16859</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16859</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPI AEROSTRUCTURES INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>125919308</cusip>
    <value>41160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPI AEROSTRUCTURES INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>125919308</cusip>
    <value>213213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>54391</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPI AEROSTRUCTURES INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>125919308</cusip>
    <value>58016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPI CARD GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>12634H200</cusip>
    <value>158043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10892</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPI CARD GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>12634H200</cusip>
    <value>44705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3081</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3081</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPS TECHNOLOGIES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12619F104</cusip>
    <value>77968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20847</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20847</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CPS TECHNOLOGIES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12619F104</cusip>
    <value>100980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPS TECHNOLOGIES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12619F104</cusip>
    <value>166725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44579</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CPS TECHNOLOGIES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12619F104</cusip>
    <value>266662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>71300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CRA INTL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12618T105</cusip>
    <value>10850331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67027</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CRACKER BARREL OLD CTRY STOR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22410J106</cusip>
    <value>9197592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>327200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>327200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRACKER BARREL OLD CTRY STOR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22410J106</cusip>
    <value>12092051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430169</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>430169</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRACKER BARREL OLD CTRY STOR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22410J106</cusip>
    <value>5526426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>196600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CRANE COMPANY</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>224408104</cusip>
    <value>10673649</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62419</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62419</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CRANE COMPANY</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>224408104</cusip>
    <value>11935800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>69800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CRANE COMPANY</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>224408104</cusip>
    <value>1047375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CRANE COMPANY</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>224408104</cusip>
    <value>1624500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRANE HBR ACQUISITION CORP I</nameOfIssuer>
    <titleOfClass>UNIT 12/09/2030</titleOfClass>
    <cusip>G25014120</cusip>
    <value>109577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10860</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRANE NXT CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>224441105</cusip>
    <value>24838766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>611943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>611943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRANE NXT CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>224441105</cusip>
    <value>2728622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67224</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67224</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREATIVE REALITIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22530J309</cusip>
    <value>254144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73879</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73879</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDICORP LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G2519Y108</cusip>
    <value>5019864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDICORP LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G2519Y108</cusip>
    <value>2258600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6659</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6659</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDICORP LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G2519Y108</cusip>
    <value>1560228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDIT ACCEP CORP MICH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>225310101</cusip>
    <value>550921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1301</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDIT ACCEP CORP MICH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>225310101</cusip>
    <value>4192254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDIT ACCEP CORP MICH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>225310101</cusip>
    <value>3413935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8062</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8062</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDIT ACCEP CORP MICH</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>225310101</cusip>
    <value>4234600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDIT SUISSE ASSET MGMT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>224916106</cusip>
    <value>92140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35992</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35992</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDIT SUISSE HIGH YIELD CRE</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>22544F103</cusip>
    <value>68795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36208</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDO TECHNOLOGY GROUP HOLDI</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G25457105</cusip>
    <value>84483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDO TECHNOLOGY GROUP HOLDI</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G25457105</cusip>
    <value>6589956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70203</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDO TECHNOLOGY GROUP HOLDI</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G25457105</cusip>
    <value>769734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>90400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVE INC</nameOfIssuer>
    <titleOfClass>CLASS A COM NEW</titleOfClass>
    <cusip>23834J201</cusip>
    <value>4403955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25297</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVE INC</nameOfIssuer>
    <titleOfClass>CLASS A COM NEW</titleOfClass>
    <cusip>23834J201</cusip>
    <value>33895323</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>194700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVE INC</nameOfIssuer>
    <titleOfClass>CLASS A COM NEW</titleOfClass>
    <cusip>23834J201</cusip>
    <value>5210340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVE INC</nameOfIssuer>
    <titleOfClass>CLASS A COM NEW</titleOfClass>
    <cusip>23834J201</cusip>
    <value>7398825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVIS FUNDAMENTAL ETF TR</nameOfIssuer>
    <titleOfClass>SELECT FINL</titleOfClass>
    <cusip>23908L108</cusip>
    <value>3165883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70604</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70604</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVIS FUNDAMENTAL ETF TR</nameOfIssuer>
    <titleOfClass>SELECT US EQTY</titleOfClass>
    <cusip>23908L207</cusip>
    <value>1032762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20354</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20354</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVIS FUNDAMENTAL ETF TR</nameOfIssuer>
    <titleOfClass>SELECT WRLD WI</titleOfClass>
    <cusip>23908L306</cusip>
    <value>711299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16236</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16236</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVIS FUNDAMENTAL ETF TR</nameOfIssuer>
    <titleOfClass>SELCT INTL ETF</titleOfClass>
    <cusip>23908L405</cusip>
    <value>466222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17322</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17322</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVITA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23918K108</cusip>
    <value>100221710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>652103</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>652103</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVITA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23918K108</cusip>
    <value>21347541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>138900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVITA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23918K108</cusip>
    <value>10344105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67305</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAVITA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23918K108</cusip>
    <value>6746991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAY ONE BIOPHARMACEUTICALS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23954D109</cusip>
    <value>5610848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>261700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DAY ONE BIOPHARMACEUTICALS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23954D109</cusip>
    <value>3366080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>157000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACKERS MSCI</titleOfClass>
    <cusip>233051150</cusip>
    <value>732274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12270</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACKERS MSCI</titleOfClass>
    <cusip>233051218</cusip>
    <value>746424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21241</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACKERS RUSSEL</titleOfClass>
    <cusip>233051481</cusip>
    <value>1958223</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32697</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK MSCI JAPN</titleOfClass>
    <cusip>233051507</cusip>
    <value>1914045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18947</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK CSI 500 A</titleOfClass>
    <cusip>233051754</cusip>
    <value>2978588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK MSCI ALL</titleOfClass>
    <cusip>233051820</cusip>
    <value>3506757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82142</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>82142</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK INTL REAL</titleOfClass>
    <cusip>233051846</cusip>
    <value>653092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28903</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28903</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK MSCI EURP</titleOfClass>
    <cusip>233051853</cusip>
    <value>243600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK HRVST CSI</titleOfClass>
    <cusip>233051879</cusip>
    <value>94084800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2882500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2882500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK HRVST CSI</titleOfClass>
    <cusip>233051879</cusip>
    <value>7277773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>222971</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACK HRVST CSI</titleOfClass>
    <cusip>233051879</cusip>
    <value>32467008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>994700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>994700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACKERS US 0-1</titleOfClass>
    <cusip>23306X811</cusip>
    <value>584322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19376</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19376</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACKERS ARTIFI</titleOfClass>
    <cusip>23306X829</cusip>
    <value>584639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14658</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DBX ETF TR</nameOfIssuer>
    <titleOfClass>XTRACKERS US NAT</titleOfClass>
    <cusip>23306X860</cusip>
    <value>226720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6395</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DECKERS OUTDOOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>243537107</cusip>
    <value>3941344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39378</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DECKERS OUTDOOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>243537107</cusip>
    <value>39305343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>392700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>392700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DECKERS OUTDOOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>243537107</cusip>
    <value>32333674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>323046</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>323046</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DECKERS OUTDOOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>243537107</cusip>
    <value>17725939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>177100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>319987071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>568058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>568058</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>185213040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>328800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>328800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>118293000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>210000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>210000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEFI DEVELOPMENT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>47100L301</cusip>
    <value>768873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>233700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>233700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEFI DEVELOPMENT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>47100L301</cusip>
    <value>492184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149600</sshPrnamt>
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    <titleOfClass>COM SUB VTG</titleOfClass>
    <cusip>25380B102</cusip>
    <value>273441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>134700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGINEX LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>G28687104</cusip>
    <value>23045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGINEX LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>G28687104</cusip>
    <value>41577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>86600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL ASSET ACQUISITION CO</nameOfIssuer>
    <titleOfClass>*W EXP 04/01/203</titleOfClass>
    <cusip>G2868C111</cusip>
    <value>9438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>25100</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL RLTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253868103</cusip>
    <value>16144473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89587</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL RLTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253868103</cusip>
    <value>28437138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>157800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL RLTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253868103</cusip>
    <value>1332293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7393</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7393</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL RLTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253868103</cusip>
    <value>29338188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>162800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL TURBINE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>25400W102</cusip>
    <value>396576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>137700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL TURBINE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>25400W102</cusip>
    <value>3070492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1066143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1066143</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITAL TURBINE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>25400W102</cusip>
    <value>268704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>93300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITALBRIDGE GROUP INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>25401T603</cusip>
    <value>2374680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>154000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITALBRIDGE GROUP INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>25401T603</cusip>
    <value>4120317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267206</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>267206</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITALBRIDGE GROUP INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>25401T603</cusip>
    <value>922116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITALOCEAN HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25402D102</cusip>
    <value>196283597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2288221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2288221</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITALOCEAN HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25402D102</cusip>
    <value>30031578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>350100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>350100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIGITALOCEAN HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25402D102</cusip>
    <value>15672006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>182700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DILLARDS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>254067101</cusip>
    <value>18201680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31815</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DILLARDS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>254067101</cusip>
    <value>13031522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22778</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIME CMNTY BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25432X102</cusip>
    <value>1065431</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31503</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31503</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIME CMNTY BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25432X102</cusip>
    <value>2284541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIME CMNTY BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25432X102</cusip>
    <value>5482222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>162100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTL CORE EQT MK</titleOfClass>
    <cusip>25434V203</cusip>
    <value>14987172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>384681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>384681</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>EMERGING MRKTETS</titleOfClass>
    <cusip>25434V534</cusip>
    <value>5741796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>88526</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>DIMENSIONAL INTL</titleOfClass>
    <cusip>25434V542</cusip>
    <value>4970969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73602</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>GLOBAL CR ETF</titleOfClass>
    <cusip>25434V567</cusip>
    <value>1530063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28264</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>DIMENSIONAL INTE</titleOfClass>
    <cusip>25434V575</cusip>
    <value>800185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15256</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15256</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>ULTRASHORT FIXED</titleOfClass>
    <cusip>25434V591</cusip>
    <value>4451983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>87793</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>CALIF MUN BD ETF</titleOfClass>
    <cusip>25434V633</cusip>
    <value>904478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18144</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>US LARGE CAP VEC</titleOfClass>
    <cusip>25434V641</cusip>
    <value>1313576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>US LARGE CAP VAL</titleOfClass>
    <cusip>25434V666</cusip>
    <value>1129114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31619</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31619</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>US CORE EQUITY 2</titleOfClass>
    <cusip>25434V708</cusip>
    <value>571242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>EMERGING MKTS CO</titleOfClass>
    <cusip>25434V732</cusip>
    <value>4351953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>125961</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTL HIGH PROFIT</titleOfClass>
    <cusip>25434V765</cusip>
    <value>264043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8195</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8195</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTL SMALL CAP E</titleOfClass>
    <cusip>25434V773</cusip>
    <value>1138989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33828</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTL SMALL CAP V</titleOfClass>
    <cusip>25434V781</cusip>
    <value>2391247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTL CORE EQUITY</titleOfClass>
    <cusip>25434V799</cusip>
    <value>11423535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>321518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>321518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTERNATNAL VAL</titleOfClass>
    <cusip>25434V807</cusip>
    <value>263900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>INTERNATNAL VAL</titleOfClass>
    <cusip>25434V807</cusip>
    <value>3803274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>72059</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>US SMALL CAP VAL</titleOfClass>
    <cusip>25434V815</cusip>
    <value>723926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20660</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>NATL MUN BD ETF</titleOfClass>
    <cusip>25434V849</cusip>
    <value>635408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13257</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>SHORT DURATION F</titleOfClass>
    <cusip>25434V864</cusip>
    <value>340092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7103</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7103</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>CORE FIXED INCOM</titleOfClass>
    <cusip>25434V872</cusip>
    <value>12311859</value>
    <shrsOrPrnAmt>
      <sshPrnamt>291612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>291612</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIMENSIONAL ETF TRUST</nameOfIssuer>
    <titleOfClass>WORLD EX US CORE</titleOfClass>
    <cusip>25434V880</cusip>
    <value>2566977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75566</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75566</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DINE BRANDS GLOBAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254423106</cusip>
    <value>477568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DINGDONG CAYMAN LTD</nameOfIssuer>
    <titleOfClass>ADS</titleOfClass>
    <cusip>25445D101</cusip>
    <value>35466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DINGDONG CAYMAN LTD</nameOfIssuer>
    <titleOfClass>ADS</titleOfClass>
    <cusip>25445D101</cusip>
    <value>103057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIODES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254543101</cusip>
    <value>2566917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37605</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIODES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254543101</cusip>
    <value>1112638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIODES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254543101</cusip>
    <value>1365200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY TECHNOLOGY</titleOfClass>
    <cusip>25459W102</cusip>
    <value>53929305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>623100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>623100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY TECHNOLOGY</titleOfClass>
    <cusip>25459W102</cusip>
    <value>26960325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>311500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SEMICONDUC</titleOfClass>
    <cusip>25459W458</cusip>
    <value>270614844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5648400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5648400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SEMICONDUC</titleOfClass>
    <cusip>25459W458</cusip>
    <value>344209395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7184500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7184500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 710 YEAR T</titleOfClass>
    <cusip>25459W565</cusip>
    <value>274512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 710 YEAR T</titleOfClass>
    <cusip>25459W565</cusip>
    <value>591524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24134</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MID CAP BU</titleOfClass>
    <cusip>25459W730</cusip>
    <value>1215396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MID CAP BU</titleOfClass>
    <cusip>25459W730</cusip>
    <value>893784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17208</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MID CAP BU</titleOfClass>
    <cusip>25459W730</cusip>
    <value>1355634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY REAL ESTAT</titleOfClass>
    <cusip>25459W755</cusip>
    <value>1397593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>162700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SMALL CAP</titleOfClass>
    <cusip>25459W847</cusip>
    <value>92434698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2094600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2094600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SMALL CAP</titleOfClass>
    <cusip>25459W847</cusip>
    <value>343155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7776</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SMALL CAP</titleOfClass>
    <cusip>25459W847</cusip>
    <value>56159838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1272600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1272600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BU</titleOfClass>
    <cusip>25459W862</cusip>
    <value>118496001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>640900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>640900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BU</titleOfClass>
    <cusip>25459W862</cusip>
    <value>94275411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>509900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>509900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BU</titleOfClass>
    <cusip>25459Y165</cusip>
    <value>595260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BU</titleOfClass>
    <cusip>25459Y165</cusip>
    <value>214955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>NASDAQ 100 EQ WT</titleOfClass>
    <cusip>25459Y207</cusip>
    <value>2551927</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>NASDAQ 100 EQ WT</titleOfClass>
    <cusip>25459Y207</cusip>
    <value>374414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FTSE EUROP</titleOfClass>
    <cusip>25459Y280</cusip>
    <value>491530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FINANCIAL</titleOfClass>
    <cusip>25459Y694</cusip>
    <value>77593800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>654800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>654800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FINANCIAL</titleOfClass>
    <cusip>25459Y694</cusip>
    <value>32516400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>274400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CONSUMER D</titleOfClass>
    <cusip>25459Y801</cusip>
    <value>315549</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CONSUMER D</titleOfClass>
    <cusip>25459Y801</cusip>
    <value>1275797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35175</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY HEALTHCARE</titleOfClass>
    <cusip>25459Y876</cusip>
    <value>4770797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY HEALTHCARE</titleOfClass>
    <cusip>25459Y876</cusip>
    <value>1611632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BE</titleOfClass>
    <cusip>25460E190</cusip>
    <value>11404818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>281670</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BE</titleOfClass>
    <cusip>25460E190</cusip>
    <value>8247813</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>203700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FINANCIAL</titleOfClass>
    <cusip>25460E216</cusip>
    <value>5642795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>111210</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FINANCIAL</titleOfClass>
    <cusip>25460E216</cusip>
    <value>9233564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181978</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>181978</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FINANCIAL</titleOfClass>
    <cusip>25460E216</cusip>
    <value>6681443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>131680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SMALL CAP</titleOfClass>
    <cusip>25460E232</cusip>
    <value>4343976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>618800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SMALL CAP</titleOfClass>
    <cusip>25460E232</cusip>
    <value>8429855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200834</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1200834</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SMALL CAP</titleOfClass>
    <cusip>25460E232</cusip>
    <value>6615648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>942400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>942400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI MEXIC</titleOfClass>
    <cusip>25460E281</cusip>
    <value>432249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>AUSPCE CMD STG</titleOfClass>
    <cusip>25460E307</cusip>
    <value>732565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21822</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21822</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY DOW JONES</titleOfClass>
    <cusip>25460E364</cusip>
    <value>492826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY DOW JONES</titleOfClass>
    <cusip>25460E364</cusip>
    <value>260710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY AEROSPACE</titleOfClass>
    <cusip>25460E661</cusip>
    <value>5975570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>94700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY AEROSPACE</titleOfClass>
    <cusip>25460E661</cusip>
    <value>3615630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY TRANSPORTA</titleOfClass>
    <cusip>25460E679</cusip>
    <value>230338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY UTILITIES</titleOfClass>
    <cusip>25460E711</cusip>
    <value>968135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY UTILITIES</titleOfClass>
    <cusip>25460E711</cusip>
    <value>1917297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39410</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY UTILITIES</titleOfClass>
    <cusip>25460E711</cusip>
    <value>1045975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY INDUSTRIAL</titleOfClass>
    <cusip>25460E737</cusip>
    <value>1428765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BE</titleOfClass>
    <cusip>25460E869</cusip>
    <value>9914996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>996482</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>996482</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 BE</titleOfClass>
    <cusip>25460E869</cusip>
    <value>604960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P BIOTEC</titleOfClass>
    <cusip>25460G120</cusip>
    <value>48066446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>289400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>289400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P BIOTEC</titleOfClass>
    <cusip>25460G120</cusip>
    <value>31025612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>186800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY 20 YR TRESUR</titleOfClass>
    <cusip>25460G138</cusip>
    <value>96922068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2687800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2687800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY 20 YR TRESUR</titleOfClass>
    <cusip>25460G138</cusip>
    <value>16990246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>471166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>471166</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY 20 YR TRESUR</titleOfClass>
    <cusip>25460G138</cusip>
    <value>119362206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3310100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3310100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY REGIONAL B</titleOfClass>
    <cusip>25460G153</cusip>
    <value>33092960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>342400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>342400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY REGIONAL B</titleOfClass>
    <cusip>25460G153</cusip>
    <value>29188300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>302000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>302000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY NYSE FANG</titleOfClass>
    <cusip>25460G161</cusip>
    <value>766041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY NYSE FANG</titleOfClass>
    <cusip>25460G161</cusip>
    <value>2869435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18729</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY NYSE FANG</titleOfClass>
    <cusip>25460G161</cusip>
    <value>505587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ENERGY BEA</titleOfClass>
    <cusip>25460G179</cusip>
    <value>386528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ENERGY BEA</titleOfClass>
    <cusip>25460G179</cusip>
    <value>3818321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>371432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>371432</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CSI CHINA</titleOfClass>
    <cusip>25460G187</cusip>
    <value>11749353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>438900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>438900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CSI CHINA</titleOfClass>
    <cusip>25460G187</cusip>
    <value>623741</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FTSE CHINA</titleOfClass>
    <cusip>25460G195</cusip>
    <value>22806231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>695100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>695100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FTSE CHINA</titleOfClass>
    <cusip>25460G195</cusip>
    <value>15007294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>457400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>457400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY TSLA BULL 2X</titleOfClass>
    <cusip>25460G286</cusip>
    <value>70661970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5815800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5815800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY TSLA BULL 2X</titleOfClass>
    <cusip>25460G286</cusip>
    <value>10671940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>878349</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>878349</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY TSLA BULL 2X</titleOfClass>
    <cusip>25460G286</cusip>
    <value>48946275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4028500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4028500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P OIL &amp;</titleOfClass>
    <cusip>25460G328</cusip>
    <value>81144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P OIL &amp;</titleOfClass>
    <cusip>25460G328</cusip>
    <value>409442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>98899</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P OIL &amp;</titleOfClass>
    <cusip>25460G328</cusip>
    <value>94392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY REAL ESTAT</titleOfClass>
    <cusip>25460G419</cusip>
    <value>532287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY REAL ESTAT</titleOfClass>
    <cusip>25460G419</cusip>
    <value>1628423</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65163</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P OIL &amp;</titleOfClass>
    <cusip>25460G500</cusip>
    <value>14053116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>317800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>317800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P OIL &amp;</titleOfClass>
    <cusip>25460G500</cusip>
    <value>2060652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ENERGY BUL</titleOfClass>
    <cusip>25460G609</cusip>
    <value>26751697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>259700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>259700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ENERGY BUL</titleOfClass>
    <cusip>25460G609</cusip>
    <value>251756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2444</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ENERGY BUL</titleOfClass>
    <cusip>25460G609</cusip>
    <value>3842273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI BRAZI</titleOfClass>
    <cusip>25460G708</cusip>
    <value>1238982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI BRAZI</titleOfClass>
    <cusip>25460G708</cusip>
    <value>710685</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6367</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI BRAZI</titleOfClass>
    <cusip>25460G708</cusip>
    <value>502290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY GOLD MINER</titleOfClass>
    <cusip>25460G781</cusip>
    <value>35409825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>188100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY GOLD MINER</titleOfClass>
    <cusip>25460G781</cusip>
    <value>4463784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23712</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23712</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY GOLD MINER</titleOfClass>
    <cusip>25460G781</cusip>
    <value>53293575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>283100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>283100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ROBOTICS A</titleOfClass>
    <cusip>25460G823</cusip>
    <value>250833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY JUNIOR GOL</titleOfClass>
    <cusip>25460G831</cusip>
    <value>43275295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>217300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY JUNIOR GOL</titleOfClass>
    <cusip>25460G831</cusip>
    <value>8424045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <value>10815720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>289500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>289500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <value>1559631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41746</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <value>4748456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>127100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 HI</titleOfClass>
    <cusip>25460G856</cusip>
    <value>209160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 HI</titleOfClass>
    <cusip>25460G856</cusip>
    <value>777358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13008</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY JUNIOR GOL</titleOfClass>
    <cusip>25461A171</cusip>
    <value>311175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8965</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY GOLD MINER</titleOfClass>
    <cusip>25461A189</cusip>
    <value>5650113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>110830</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY GOLD MINER</titleOfClass>
    <cusip>25461A189</cusip>
    <value>3436307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67405</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY GOLD MINER</titleOfClass>
    <cusip>25461A189</cusip>
    <value>3937185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>77230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NVDA BEAR 1X</titleOfClass>
    <cusip>25461A197</cusip>
    <value>368598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9160</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NVDA BEAR 1X</titleOfClass>
    <cusip>25461A197</cusip>
    <value>2831568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70367</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NVDA BEAR 1X</titleOfClass>
    <cusip>25461A197</cusip>
    <value>1498940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY QCOM BULL</titleOfClass>
    <cusip>25461A270</cusip>
    <value>278539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19147</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19147</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY AAPL BR 1X</titleOfClass>
    <cusip>25461A304</cusip>
    <value>2889036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206951</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>206951</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI SOUTH</titleOfClass>
    <cusip>25461A387</cusip>
    <value>14376472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>50600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI SOUTH</titleOfClass>
    <cusip>25461A387</cusip>
    <value>9533362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33554</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI SOUTH</titleOfClass>
    <cusip>25461A387</cusip>
    <value>64466828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>226900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>226900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY PLTR BULL 2X</titleOfClass>
    <cusip>25461A445</cusip>
    <value>2553726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY PLTR BULL 2X</titleOfClass>
    <cusip>25461A445</cusip>
    <value>1325802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FTSE CHINA</titleOfClass>
    <cusip>25461A460</cusip>
    <value>6142858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>210805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>210805</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY FTSE CHINA</titleOfClass>
    <cusip>25461A460</cusip>
    <value>2480834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85135</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85135</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY DOW JONES</titleOfClass>
    <cusip>25461A486</cusip>
    <value>656924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22482</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22482</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY TECHNOLOGY</titleOfClass>
    <cusip>25461A494</cusip>
    <value>462336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY TECHNOLOGY</titleOfClass>
    <cusip>25461A494</cusip>
    <value>831792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY MU BULL 2X</titleOfClass>
    <cusip>25461A528</cusip>
    <value>3512568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29179</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29179</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY TSM BULL 2X</titleOfClass>
    <cusip>25461A544</cusip>
    <value>1255041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21972</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21972</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AVGO BULL 2X</titleOfClass>
    <cusip>25461A569</cusip>
    <value>4488038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>136500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AVGO BULL 2X</titleOfClass>
    <cusip>25461A569</cusip>
    <value>1226402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CRYPTO IND</titleOfClass>
    <cusip>25461A585</cusip>
    <value>222990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY GOOGL BR 1X</titleOfClass>
    <cusip>25461A601</cusip>
    <value>408276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56005</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MAGNIFICEN</titleOfClass>
    <cusip>25461A668</cusip>
    <value>522857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35472</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY META BULL 2X</titleOfClass>
    <cusip>25461A809</cusip>
    <value>7749179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>346100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>346100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY META BULL 2X</titleOfClass>
    <cusip>25461A809</cusip>
    <value>1905322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85097</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY META BULL 2X</titleOfClass>
    <cusip>25461A809</cusip>
    <value>2966675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NVDA BULL 2X</titleOfClass>
    <cusip>25461A833</cusip>
    <value>13929800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>144500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NVDA BULL 2X</titleOfClass>
    <cusip>25461A833</cusip>
    <value>239843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2488</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2488</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NVDA BULL 2X</titleOfClass>
    <cusip>25461A833</cusip>
    <value>5089920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY GOOGL BUL 2X</titleOfClass>
    <cusip>25461A841</cusip>
    <value>48508075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>621500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>621500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY GOOGL BUL 2X</titleOfClass>
    <cusip>25461A841</cusip>
    <value>4875627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY GOOGL BUL 2X</titleOfClass>
    <cusip>25461A841</cusip>
    <value>25093075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>321500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>321500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AMZN BULL 2X</titleOfClass>
    <cusip>25461A858</cusip>
    <value>6997030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>260500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AMZN BULL 2X</titleOfClass>
    <cusip>25461A858</cusip>
    <value>11047894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>411314</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>411314</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>DLY AMZN BULL 2X</titleOfClass>
    <cusip>25461A858</cusip>
    <value>7287118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>271300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>271300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY MSFT BULL 2X</titleOfClass>
    <cusip>25461A866</cusip>
    <value>2979795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>129500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY MSFT BULL 2X</titleOfClass>
    <cusip>25461A866</cusip>
    <value>7683407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>333916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>333916</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY MSFT BULL 2X</titleOfClass>
    <cusip>25461A866</cusip>
    <value>4268355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>185500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AAPL BULL 2X</titleOfClass>
    <cusip>25461A874</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>268400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>268400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AAPL BULL 2X</titleOfClass>
    <cusip>25461A874</cusip>
    <value>519531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18515</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY AAPL BULL 2X</titleOfClass>
    <cusip>25461A874</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>44500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY NFLX BULL 2X</titleOfClass>
    <cusip>25461A882</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>26692</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26692</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P 500 HI</titleOfClass>
    <cusip>25461H556</cusip>
    <value>296400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6293</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6293</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DLY TSLA BEAR 1X</titleOfClass>
    <cusip>25461H564</cusip>
    <value>3134658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51993</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51993</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SEMICONDUC</titleOfClass>
    <cusip>25461H572</cusip>
    <value>37921210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>951360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>951360</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY SEMICONDUC</titleOfClass>
    <cusip>25461H572</cusip>
    <value>6227527</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>156235</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY ORCL BULL</titleOfClass>
    <cusip>25461H796</cusip>
    <value>298384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31310</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY COIN BULL</titleOfClass>
    <cusip>25461H838</cusip>
    <value>124409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P BIOTEC</titleOfClass>
    <cusip>25461H853</cusip>
    <value>964797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59190</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P BIOTEC</titleOfClass>
    <cusip>25461H853</cusip>
    <value>1496030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>91781</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY S&amp;P BIOTEC</titleOfClass>
    <cusip>25461H853</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>144560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>144560</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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    <titleOfClass>DAILY MSCI EMERG</titleOfClass>
    <cusip>25461H861</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>60470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60470</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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    <titleOfClass>DAILY MSCI EMERG</titleOfClass>
    <cusip>25461H861</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>57915</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57915</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI EMERG</titleOfClass>
    <cusip>25461H861</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>22300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY LMT BULL</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>6693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6693</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI EMERG</titleOfClass>
    <cusip>25490K281</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>131600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>131600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI EMERG</titleOfClass>
    <cusip>25490K281</cusip>
    <value>946062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY MSCI INDIA</titleOfClass>
    <cusip>25490K331</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>6500</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>DAILY MSCI INDIA</titleOfClass>
    <cusip>25490K331</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>119475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>119475</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>DAILY HOMEBUILDE</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>274100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>274100</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>DAILY HOMEBUILDE</titleOfClass>
    <cusip>25490K596</cusip>
    <value>13658205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>359900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>DAILY CSI 300 CH</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>238800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>238800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CSI 300 CH</titleOfClass>
    <cusip>25490K869</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>107469</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY CSI 300 CH</titleOfClass>
    <cusip>25490K869</cusip>
    <value>696600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>34400</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>17350</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>17350</Sole>
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  <infoTable>
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      <sshPrnamt>12300</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>12300</Sole>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>20900</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>20900</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>26818M108</cusip>
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    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>DYNE THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <None>0</None>
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    <nameOfIssuer>DYNEX CAP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>DYNEX CAP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26817Q886</cusip>
    <value>3145340</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>DYNEX CAP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26817Q886</cusip>
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    <otherManager>1</otherManager>
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    <otherManager>1</otherManager>
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      <None>0</None>
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    <nameOfIssuer>E L F BEAUTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26856L103</cusip>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
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    <titleOfClass>COM</titleOfClass>
    <cusip>26856L103</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>26856L103</cusip>
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    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>COASTAL COMPASS</titleOfClass>
    <cusip>02072L169</cusip>
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    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>8996</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>ASTORIA US QUALI</titleOfClass>
    <cusip>02072L185</cusip>
    <value>200727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6974</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6974</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>TBG DIVIDEND FOC</titleOfClass>
    <cusip>02072L375</cusip>
    <value>273337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7841</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7841</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE ENHANCED</titleOfClass>
    <cusip>02072L441</cusip>
    <value>714972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35316</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35316</Sole>
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      <None>0</None>
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    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE TOTAL RET</titleOfClass>
    <cusip>02072L458</cusip>
    <value>516915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25957</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25957</Sole>
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    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE SML CAP</titleOfClass>
    <cusip>02072L573</cusip>
    <value>459234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13766</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13766</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE 1000 VALU</titleOfClass>
    <cusip>02072L599</cusip>
    <value>375103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10676</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10676</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>FREEDOM 100 EM</titleOfClass>
    <cusip>02072L607</cusip>
    <value>240460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>FREEDOM 100 EM</titleOfClass>
    <cusip>02072L607</cusip>
    <value>1414615</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25885</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25885</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>FREEDOM 100 EM</titleOfClass>
    <cusip>02072L607</cusip>
    <value>256855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>4700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE US SEMICO</titleOfClass>
    <cusip>02072L672</cusip>
    <value>288811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4010</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>4010</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE 500 ETF</titleOfClass>
    <cusip>02072L680</cusip>
    <value>423897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>STRIVE 500 ETF</titleOfClass>
    <cusip>02072L680</cusip>
    <value>257696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6140</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>ARGENT MID CAP</titleOfClass>
    <cusip>02072L839</cusip>
    <value>268916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8366</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8366</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>EA SERIES TRUST</nameOfIssuer>
    <titleOfClass>CAMBRIA ENDOWM</titleOfClass>
    <cusip>02072Q622</cusip>
    <value>392597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12332</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12332</Sole>
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    <nameOfIssuer>EBAY INC.</nameOfIssuer>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>192238</Sole>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>423500</Sole>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>290100</Sole>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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  <infoTable>
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  <infoTable>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <nameOfIssuer>EQUINOR ASA</nameOfIssuer>
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      <sshPrnamt>469600</sshPrnamt>
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      <Sole>469600</Sole>
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      <None>0</None>
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    <nameOfIssuer>EQUINOR ASA</nameOfIssuer>
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  <infoTable>
    <nameOfIssuer>EQUINOR ASA</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1066300</Sole>
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  <infoTable>
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    <cusip>26923N579</cusip>
    <value>246726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LNG ALP</titleOfClass>
    <cusip>26923N595</cusip>
    <value>330577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LNG ALP</titleOfClass>
    <cusip>26923N595</cusip>
    <value>960466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17142</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17142</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LNG ALP</titleOfClass>
    <cusip>26923N595</cusip>
    <value>487461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LNG APP</titleOfClass>
    <cusip>26923N629</cusip>
    <value>357867</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14045</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>KINGSBARN TACTIC</titleOfClass>
    <cusip>26923N702</cusip>
    <value>428628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>REX FANG &amp; INNOV</titleOfClass>
    <cusip>26923N744</cusip>
    <value>630753</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>REX FANG &amp; INNOV</titleOfClass>
    <cusip>26923N744</cusip>
    <value>392733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG</titleOfClass>
    <cusip>26923N819</cusip>
    <value>10244122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>735400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>735400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG</titleOfClass>
    <cusip>26923N819</cusip>
    <value>3309768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>237600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>237600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG</titleOfClass>
    <cusip>26923N835</cusip>
    <value>1223019</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>71900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG SB</titleOfClass>
    <cusip>26923Q218</cusip>
    <value>36837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11769</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11769</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG CI</titleOfClass>
    <cusip>26923Q275</cusip>
    <value>253804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>HEDGEYE 130/30</titleOfClass>
    <cusip>26923Q424</cusip>
    <value>358518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15185</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X INVERSE</titleOfClass>
    <cusip>26923Q457</cusip>
    <value>92475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X INVERSE</titleOfClass>
    <cusip>26923Q465</cusip>
    <value>176787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X INVERSE</titleOfClass>
    <cusip>26923Q465</cusip>
    <value>153729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10174</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10174</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X INVERSE</titleOfClass>
    <cusip>26923Q465</cusip>
    <value>444234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG T</titleOfClass>
    <cusip>26923Q499</cusip>
    <value>103456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21200</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG BM</titleOfClass>
    <cusip>26923Q564</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>937800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>937800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG BM</titleOfClass>
    <cusip>26923Q564</cusip>
    <value>656688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>372061</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>372061</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG BM</titleOfClass>
    <cusip>26923Q564</cusip>
    <value>1842131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1043700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1043700</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG</titleOfClass>
    <cusip>26923Q614</cusip>
    <value>81200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG</titleOfClass>
    <cusip>26923Q614</cusip>
    <value>434327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>93605</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG</titleOfClass>
    <cusip>26923Q622</cusip>
    <value>61886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>148800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG</titleOfClass>
    <cusip>26923Q655</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>28700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG SN</titleOfClass>
    <cusip>26923Q713</cusip>
    <value>221782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12666</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12666</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T REX 2X LONG GM</titleOfClass>
    <cusip>26923Q721</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>20700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>HEDGEYE QUALITY</titleOfClass>
    <cusip>26923Q739</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>18265</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18265</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>HEDGEYE CAPITAL</titleOfClass>
    <cusip>26923Q747</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>25082</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25082</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG EO</titleOfClass>
    <cusip>26923W348</cusip>
    <value>39063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42552</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42552</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF OPPORTUNITIES TRUST</nameOfIssuer>
    <titleOfClass>T-REX 2X LONG EO</titleOfClass>
    <cusip>26923W348</cusip>
    <value>39107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42600</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>1300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>APTUS JAN BUFFER</titleOfClass>
    <cusip>268961885</cusip>
    <value>218621</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8711</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>8711</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>CLERSHS PITON IN</titleOfClass>
    <cusip>26922A131</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>6092</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6092</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>AAM LW DUR PFD</titleOfClass>
    <cusip>26922A198</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>55718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>55718</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>APTUS COLLRD INV</titleOfClass>
    <cusip>26922A222</cusip>
    <value>440580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>COLTERPOINT NET</titleOfClass>
    <cusip>26922A248</cusip>
    <value>375626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15214</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15214</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>ACQUIRERS FD</titleOfClass>
    <cusip>26922A263</cusip>
    <value>351602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9041</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>DISTILLATE US</titleOfClass>
    <cusip>26922A321</cusip>
    <value>387101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6688</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6688</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>VIDENT INTERNATI</titleOfClass>
    <cusip>26922A404</cusip>
    <value>609922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16886</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>DEFIANCE QUANTUM</titleOfClass>
    <cusip>26922A420</cusip>
    <value>5998070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>55900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>DEFIANCE QUANTUM</titleOfClass>
    <cusip>26922A420</cusip>
    <value>12811942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>119403</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>DEFIANCE QUANTUM</titleOfClass>
    <cusip>26922A420</cusip>
    <value>5901500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>55000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>VIDENT US EQUITY</titleOfClass>
    <cusip>26922A503</cusip>
    <value>1351106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21511</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>US GBL GLD PRE</titleOfClass>
    <cusip>26922A719</cusip>
    <value>545628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>US GLB JETS</titleOfClass>
    <cusip>26922A842</cusip>
    <value>25191564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1022800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1022800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>US GLB JETS</titleOfClass>
    <cusip>26922A842</cusip>
    <value>4212617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171036</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>171036</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>US GLB JETS</titleOfClass>
    <cusip>26922A842</cusip>
    <value>18940470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>769000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>769000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>DEFIANCE RETAIL</titleOfClass>
    <cusip>26922B378</cusip>
    <value>184510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10076</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10076</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>DEFIANCE DRONE A</titleOfClass>
    <cusip>26922B394</cusip>
    <value>346558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13548</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>US GLOBAL TECHNO</titleOfClass>
    <cusip>26922B410</cusip>
    <value>1066686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44612</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>BAHL &amp; GAYNOR IN</titleOfClass>
    <cusip>26922B527</cusip>
    <value>240204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7222</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7222</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>BAHL GAYNOR SML</titleOfClass>
    <cusip>26922B832</cusip>
    <value>245366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8360</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETF SER SOLUTIONS</nameOfIssuer>
    <titleOfClass>U S GLOBAL SEA T</titleOfClass>
    <cusip>26922B865</cusip>
    <value>574351</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33905</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS BIOTECH C</titleOfClass>
    <cusip>26923G301</cusip>
    <value>1168968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28084</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28084</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>INFRACP REIT PFD</titleOfClass>
    <cusip>26923G400</cusip>
    <value>1117637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>64753</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS NEWFLEET</titleOfClass>
    <cusip>26923G707</cusip>
    <value>702839</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30894</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30894</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>INFRAC ACT MLP</titleOfClass>
    <cusip>26923G772</cusip>
    <value>769703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>INFRAC ACT MLP</titleOfClass>
    <cusip>26923G772</cusip>
    <value>665632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14442</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14442</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS REAL AS</titleOfClass>
    <cusip>26923G780</cusip>
    <value>867292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31968</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31968</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS PVT CR</titleOfClass>
    <cusip>26923G798</cusip>
    <value>187854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12416</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS REAVES UT</titleOfClass>
    <cusip>26923G806</cusip>
    <value>2492880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS REAVES UT</titleOfClass>
    <cusip>26923G806</cusip>
    <value>1143289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14309</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14309</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS INFRCAP</titleOfClass>
    <cusip>26923G822</cusip>
    <value>822544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFIS SER TR I</nameOfIssuer>
    <titleOfClass>VIRTUS INFRCAP</titleOfClass>
    <cusip>26923G822</cusip>
    <value>873444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFS GOLD TR</nameOfIssuer>
    <titleOfClass>PHYSCL GOLD SHS</titleOfClass>
    <cusip>00326A104</cusip>
    <value>1356448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFS GOLD TR</nameOfIssuer>
    <titleOfClass>PHYSCL GOLD SHS</titleOfClass>
    <cusip>00326A104</cusip>
    <value>7593209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>170175</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETFS GOLD TR</nameOfIssuer>
    <titleOfClass>PHYSCL GOLD SHS</titleOfClass>
    <cusip>00326A104</cusip>
    <value>3359886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETHAN ALLEN INTERIORS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>297602104</cusip>
    <value>4331395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194582</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETHAN ALLEN INTERIORS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>297602104</cusip>
    <value>540918</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ETHAN ALLEN INTERIORS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>297602104</cusip>
    <value>3158293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>141882</Sole>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>200</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>200</Sole>
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      <None>0</None>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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    <cusip>30040W108</cusip>
    <value>43445488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>627100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>627100</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>30040W108</cusip>
    <value>1607296</value>
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      <sshPrnamt>23200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>23200</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>80032</Sole>
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      <None>0</None>
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    <cusip>30041T104</cusip>
    <value>541464</value>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>61600</Sole>
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      <None>0</None>
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    <nameOfIssuer>EVERSPIN TECHNOLOGIES INC</nameOfIssuer>
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    <cusip>30041T104</cusip>
    <value>264579</value>
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      <sshPrnamt>30100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>30100</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22300</Sole>
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      <None>0</None>
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    <nameOfIssuer>EVERTEC INC</nameOfIssuer>
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    <cusip>30040P103</cusip>
    <value>1715776</value>
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      <sshPrnamt>60800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>60800</Sole>
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      <None>0</None>
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    <cusip>30040P103</cusip>
    <value>559151</value>
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      <sshPrnamt>19814</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>19814</Sole>
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      <None>0</None>
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    <nameOfIssuer>EVERUS CONSTR GROUP</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34081</Sole>
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      <None>0</None>
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    <nameOfIssuer>EVERUS CONSTR GROUP</nameOfIssuer>
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    <value>1475750</value>
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      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>25349</Sole>
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      <None>0</None>
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    <nameOfIssuer>EVERUS CONSTR GROUP</nameOfIssuer>
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      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>4500</Sole>
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      <None>0</None>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>360900</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>107900</Sole>
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      <None>0</None>
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      <Sole>464</Sole>
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  <infoTable>
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      <sshPrnamt>11977</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>11977</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>593469</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>23000</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>377195</Sole>
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  <infoTable>
    <nameOfIssuer>EVOLUS INC</nameOfIssuer>
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      <sshPrnamt>50300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>50300</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>319434</Sole>
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  <infoTable>
    <nameOfIssuer>EVOLUS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>40400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>40400</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>165299</Sole>
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  <infoTable>
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      <sshPrnamt>60100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>60100</Sole>
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  <infoTable>
    <nameOfIssuer>EVOLUTION PETE CORP</nameOfIssuer>
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      <sshPrnamt>160606</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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    <cusip>30151E491</cusip>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>5928000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5928000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EXZEO GROUP INC</nameOfIssuer>
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    <cusip>30234F101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>92617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92617</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EXZEO GROUP INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>30234F101</cusip>
    <value>309992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21131</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21131</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EYEPOINT INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>30233G209</cusip>
    <value>23056433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1788707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1788707</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EYEPOINT INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>30233G209</cusip>
    <value>1281266</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>99400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EYEPOINT INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>30233G209</cusip>
    <value>1510296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117168</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>117168</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EZCORP INC</nameOfIssuer>
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    <cusip>302301106</cusip>
    <value>1699496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66962</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EZCORP INC</nameOfIssuer>
    <titleOfClass>CL A NON VTG</titleOfClass>
    <cusip>302301106</cusip>
    <value>893376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>EZCORP INC</nameOfIssuer>
    <titleOfClass>CL A NON VTG</titleOfClass>
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    <value>362934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F N B CORP</nameOfIssuer>
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    <cusip>302520101</cusip>
    <value>170544</value>
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      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F N B CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302520101</cusip>
    <value>10082394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>603014</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>603014</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F&amp;G ANNUITIES &amp; LIFE INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>30190A104</cusip>
    <value>512300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20233</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20233</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F&amp;G ANNUITIES &amp; LIFE INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>30190A104</cusip>
    <value>497184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19636</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19636</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F&amp;G ANNUITIES &amp; LIFE INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>30190A104</cusip>
    <value>1583234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62529</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F&amp;G ANNUITIES &amp; LIFE INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>30190A104</cusip>
    <value>292547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11554</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F5 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315616102</cusip>
    <value>70829141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244804</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>F5 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315616102</cusip>
    <value>7146451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315616102</cusip>
    <value>17990829</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62181</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62181</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315616102</cusip>
    <value>25837169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>89300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FABRINET</nameOfIssuer>
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      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FABRINET</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3323L100</cusip>
    <value>1744484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3345</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3345</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FABRINET</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3323L100</cusip>
    <value>2659752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FABRINET</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3323L100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>85800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FABRINET</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3323L100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1618</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1618</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FABRINET</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3323L100</cusip>
    <value>22373208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FACTSET RESH SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303075105</cusip>
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      <sshPrnamt>174906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174906</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FACTSET RESH SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303075105</cusip>
    <value>21069729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>97100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FACTSET RESH SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303075105</cusip>
    <value>18246472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>84089</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FACTSET RESH SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303075105</cusip>
    <value>8440911</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FAIR ISAAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303250104</cusip>
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      <sshPrnamt>14210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14210</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FAIR ISAAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303250104</cusip>
    <value>126183228</value>
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      <sshPrnamt>118200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>118200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FAIR ISAAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303250104</cusip>
    <value>2812968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2635</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FAIR ISAAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>303250104</cusip>
    <value>90207130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>84500</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <cusip>306121104</cusip>
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      <sshPrnamt>11219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11219</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FARADAY FUTURE INTLGT ELEC I</nameOfIssuer>
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    <cusip>307359885</cusip>
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      <sshPrnamt>1803</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1803</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FARADAY FUTURE INTLGT ELEC I</nameOfIssuer>
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    <value>32042</value>
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      <sshPrnamt>116600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>116600</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FARADAY FUTURE INTLGT ELEC I</nameOfIssuer>
    <titleOfClass>COM NEW CL A</titleOfClass>
    <cusip>307359885</cusip>
    <value>431020</value>
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      <sshPrnamt>1568487</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1568487</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FARADAY FUTURE INTLGT ELEC I</nameOfIssuer>
    <titleOfClass>COM NEW CL A</titleOfClass>
    <cusip>307359885</cusip>
    <value>74086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>269600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMER BROS CO</nameOfIssuer>
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      <sshPrnamt>42369</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42369</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMERS &amp; MERCHANTS BANCORP</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>19034</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19034</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMERS &amp; MERCHANTS BANCORP</nameOfIssuer>
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    <cusip>30779N105</cusip>
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      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10700</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>242652</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>242652</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMERS NATIONAL BANC CORP</nameOfIssuer>
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    <cusip>309627107</cusip>
    <value>1470354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111729</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>111729</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMERS NATIONAL BANC CORP</nameOfIssuer>
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    <cusip>309627107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>51000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51000</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>38632</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38632</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>44700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMLAND PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1842001</value>
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      <sshPrnamt>164025</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>164025</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FARMLAND PARTNERS INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33800</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>848221</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>848221</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FASTENAL CO</nameOfIssuer>
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    <value>35124800</value>
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      <sshPrnamt>757000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>757000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FASTENAL CO</nameOfIssuer>
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      <sshPrnamt>212424</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>212424</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FASTENAL CO</nameOfIssuer>
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    <value>1294560</value>
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      <sshPrnamt>27900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27900</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FASTLY INC</nameOfIssuer>
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      <sshPrnamt>379113</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>379113</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>FASTLY INC</nameOfIssuer>
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    <cusip>31188V100</cusip>
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      <sshPrnamt>849300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>849300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FASTLY INC</nameOfIssuer>
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      <sshPrnamt>81201</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>81201</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FASTLY INC</nameOfIssuer>
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      <sshPrnamt>2480200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>2480200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FATE THERAPEUTICS INC</nameOfIssuer>
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      <sshPrnamt>875426</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>875426</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FATE THERAPEUTICS INC</nameOfIssuer>
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      <sshPrnamt>67500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>27300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>27300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>35477</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>35477</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>160300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>160300</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>76933</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76933</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FB BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>609</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>609</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>14152</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14152</Sole>
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  <infoTable>
    <nameOfIssuer>FB FINL CORP</nameOfIssuer>
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      <sshPrnamt>43600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>43600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>3000</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>42690</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42690</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>6200</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>21779</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>21779</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FEDERAL RLTY INVT TR NEW</nameOfIssuer>
    <titleOfClass>SH BEN INT NEW</titleOfClass>
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    <value>870922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FEDERAL RLTY INVT TR NEW</nameOfIssuer>
    <titleOfClass>SH BEN INT NEW</titleOfClass>
    <cusip>313745101</cusip>
    <value>435461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>61050</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61050</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FEDERAL SIGNAL CORP</nameOfIssuer>
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      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>12600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FEDERAL SIGNAL CORP</nameOfIssuer>
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      <sshPrnamt>2300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FEDERATED HERMES ETF TRUST</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>11133</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11133</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FEDERATED HERMES ETF TRUST</nameOfIssuer>
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      <sshPrnamt>8909</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8909</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FEDERATED HERMES INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>314211103</cusip>
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      <sshPrnamt>31782</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31782</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FEDEX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>1064899</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1064899</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FEDEX CORP</nameOfIssuer>
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    <value>165303138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>464100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>464100</Sole>
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      <None>0</None>
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    <nameOfIssuer>FEDEX CORP</nameOfIssuer>
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    <value>26927920</value>
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      <sshPrnamt>75602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75602</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FEDEX CORP</nameOfIssuer>
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      <sshPrnamt>663500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>663500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FENNEC PHARMACEUTICALS INC</nameOfIssuer>
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      <sshPrnamt>153440</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>153440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FENNEC PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31447P100</cusip>
    <value>1046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>170</Sole>
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      <None>0</None>
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    <shrsOrPrnAmt>
      <sshPrnamt>439269</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>439269</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>FERGUSON ENTERPRISES INC</nameOfIssuer>
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    <cusip>31488V107</cusip>
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      <sshPrnamt>17300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>17300</Sole>
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      <None>0</None>
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    <nameOfIssuer>FERGUSON ENTERPRISES INC</nameOfIssuer>
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      <sshPrnamt>28100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>28100</Sole>
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      <None>0</None>
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    <nameOfIssuer>FERMI INC</nameOfIssuer>
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      <sshPrnamt>6221706</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6221706</Sole>
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      <None>0</None>
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    <nameOfIssuer>FERMI INC</nameOfIssuer>
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    <value>21820576</value>
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      <sshPrnamt>3736400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>3736400</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>FERMI INC</nameOfIssuer>
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      <sshPrnamt>1535000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1535000</Sole>
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      <None>0</None>
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    <nameOfIssuer>FERRARI N V</nameOfIssuer>
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      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
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      <None>0</None>
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    <nameOfIssuer>FERRARI N V</nameOfIssuer>
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    <value>38922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115</Sole>
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      <None>0</None>
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    <cusip>N3167Y103</cusip>
    <value>101535</value>
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      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>318000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>318000</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
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    <otherManager>1</otherManager>
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      <Sole>50935</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FERRARI N V</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>185200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>185200</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1068</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>26200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>26200</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>710384</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>710384</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FERROGLOBE PLC</nameOfIssuer>
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    <cusip>G33856108</cusip>
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      <sshPrnamt>63300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>63300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FERROVIAL SE</nameOfIssuer>
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    <cusip>N3168P101</cusip>
    <value>435965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6702</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6702</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>956235</value>
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      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>14700</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>1681998</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>25857</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>11300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>11300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FG NEXUS INC.</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>374927</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>205</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>205</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIDELIS INSURANCE HOLDINGS L</nameOfIssuer>
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      <sshPrnamt>121049</sshPrnamt>
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      <Sole>121049</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>1485925</value>
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      <sshPrnamt>17500</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>17500</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>NASDAQ COMPSIT</titleOfClass>
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      <sshPrnamt>18036</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>18036</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>3000</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>101708</sshPrnamt>
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      <Sole>101708</Sole>
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  <infoTable>
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  <infoTable>
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    <cusip>316092139</cusip>
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  <infoTable>
    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
    <titleOfClass>DISRUPTIVE FIN E</titleOfClass>
    <cusip>316092154</cusip>
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  <infoTable>
    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
    <titleOfClass>DISRUPTIVE COMMU</titleOfClass>
    <cusip>316092162</cusip>
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  <infoTable>
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    <titleOfClass>METAVERSE ETF</titleOfClass>
    <cusip>316092188</cusip>
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    <shrsOrPrnAmt>
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    <cusip>316092386</cusip>
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    <cusip>316092402</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
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    <cusip>316092402</cusip>
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  <infoTable>
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    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
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    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
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    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
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      <Sole>8100</Sole>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>9400</sshPrnamt>
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      <Sole>9400</Sole>
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  <infoTable>
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  <infoTable>
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      <Sole>10200</Sole>
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  <infoTable>
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      <sshPrnamt>15200</sshPrnamt>
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      <Sole>15200</Sole>
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  <infoTable>
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      <Sole>5100</Sole>
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    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>32100</sshPrnamt>
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      <Sole>32100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>3400</Sole>
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    </votingAuthority>
  </infoTable>
  <infoTable>
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    <titleOfClass>FUNDAMENTAL LARG</titleOfClass>
    <cusip>31609A602</cusip>
    <value>2643178</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>105939</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
    <titleOfClass>ENHANCED EMRNGS</titleOfClass>
    <cusip>31609A800</cusip>
    <value>2584916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75693</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
    <titleOfClass>FUNDAMENTAL EMER</titleOfClass>
    <cusip>31609A867</cusip>
    <value>2202694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62311</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62311</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
    <titleOfClass>FUNDAMENTAL GLOB</titleOfClass>
    <cusip>31609A875</cusip>
    <value>881555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28926</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28926</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY COVINGTON TRUST</nameOfIssuer>
    <titleOfClass>FUNDAMENTAL DEVE</titleOfClass>
    <cusip>31609A883</cusip>
    <value>2524165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85089</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY D &amp; D BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31609R100</cusip>
    <value>305990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7070</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7070</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY ETHEREUM FD</nameOfIssuer>
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    <cusip>31613E103</cusip>
    <value>4854600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>232500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIDELITY ETHEREUM FD</nameOfIssuer>
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    <cusip>31613E103</cusip>
    <value>1695456</value>
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      <sshPrnamt>81200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>81200</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIDELITY GREENWOOD STREET TR</nameOfIssuer>
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    <cusip>31624J745</cusip>
    <value>234683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7977</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>7977</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY MERRIMACK STR TR</nameOfIssuer>
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    <cusip>316188101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>61211</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>61211</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY MERRIMACK STR TR</nameOfIssuer>
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    <cusip>316188309</cusip>
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      <sshPrnamt>272762</sshPrnamt>
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      <Sole>272762</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY MERRIMACK STR TR</nameOfIssuer>
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    <cusip>316188408</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>214147</sshPrnamt>
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      <Sole>214147</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY MERRIMACK STR TR</nameOfIssuer>
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    <cusip>316188606</cusip>
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      <sshPrnamt>45335</sshPrnamt>
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      <Sole>45335</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY MERRIMACK STR TR</nameOfIssuer>
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    <value>1058367</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21532</sshPrnamt>
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    <votingAuthority>
      <Sole>21532</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY NATL FINL INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>31620R303</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>189510</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>189510</Sole>
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      <None>0</None>
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    <nameOfIssuer>FIDELITY NATL FINL INC</nameOfIssuer>
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    <cusip>31620R303</cusip>
    <value>788460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>17000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY NATL FINL INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>31620R303</cusip>
    <value>5469269</value>
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      <sshPrnamt>117923</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>117923</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIDELITY NATL FINL INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>31620R303</cusip>
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      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDELITY NATL INFORMATION SV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31620M106</cusip>
    <value>118917272</value>
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      <sshPrnamt>2535009</sshPrnamt>
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    <votingAuthority>
      <Sole>2535009</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDELITY NATL INFORMATION SV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31620M106</cusip>
    <value>18055659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>384900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>384900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDELITY NATL INFORMATION SV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31620M106</cusip>
    <value>44750357</value>
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      <sshPrnamt>953962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>953962</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDELITY NATL INFORMATION SV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31620M106</cusip>
    <value>8420345</value>
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      <sshPrnamt>179500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>179500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDELITY SOLANA FD</nameOfIssuer>
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    <value>103350</value>
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      <sshPrnamt>10600</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>10600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDELITY WISE ORIGIN BITCOIN</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>315948109</cusip>
    <value>58174065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>985500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>985500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDELITY WISE ORIGIN BITCOIN</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>315948109</cusip>
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      <sshPrnamt>241000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>241000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIDUS INVT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316500107</cusip>
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      <sshPrnamt>1437</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1437</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIDUS INVT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316500107</cusip>
    <value>1757591</value>
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      <sshPrnamt>100895</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>100895</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>G3415K101</cusip>
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      <sshPrnamt>303880</sshPrnamt>
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    <votingAuthority>
      <Sole>303880</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIFTH ERA ACQUISITION CORP I</nameOfIssuer>
    <titleOfClass>RIGHT 02/21/2030</titleOfClass>
    <cusip>G3415K135</cusip>
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      <sshPrnamt>16000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>0</Sole>
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      <None>16000</None>
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  <infoTable>
    <nameOfIssuer>FIFTH THIRD BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316773100</cusip>
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      <sshPrnamt>360340</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>360340</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>FIFTH THIRD BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316773100</cusip>
    <value>16965705</value>
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      <sshPrnamt>365168</sshPrnamt>
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    <votingAuthority>
      <Sole>365168</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>FIFTH THIRD BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>316773100</cusip>
    <value>4602142</value>
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      <sshPrnamt>99056</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>99056</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIGMA INC</nameOfIssuer>
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      <sshPrnamt>341307</sshPrnamt>
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      <Sole>341307</Sole>
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    <cusip>316841105</cusip>
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      <sshPrnamt>2455000</sshPrnamt>
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    <putCall>Call</putCall>
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    <votingAuthority>
      <Sole>2455000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIGMA INC</nameOfIssuer>
    <titleOfClass>CLASS A COM STK</titleOfClass>
    <cusip>316841105</cusip>
    <value>52668957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2491436</sshPrnamt>
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      <Sole>2491436</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIGMA INC</nameOfIssuer>
    <titleOfClass>CLASS A COM STK</titleOfClass>
    <cusip>316841105</cusip>
    <value>44480674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2104100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2104100</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>30260D103</cusip>
    <value>16864283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1141793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1141793</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIGURE TECHNOLOGY SOLUTIO</nameOfIssuer>
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      <None>0</None>
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    <nameOfIssuer>FINANCE OF AMERICA COMPAN</nameOfIssuer>
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    <nameOfIssuer>FINGERMOTION INC</nameOfIssuer>
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  <infoTable>
    <nameOfIssuer>FIRST AMERN FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31847R102</cusip>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>31847R102</cusip>
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    <titleOfClass>COM</titleOfClass>
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  <infoTable>
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  <infoTable>
    <nameOfIssuer>FIRST BK WILLIAMSTOWN NEW JE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>FIRST BK WILLIAMSTOWN NEW JE</nameOfIssuer>
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      <Sole>51496</Sole>
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      <Sole>13255</Sole>
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  <infoTable>
    <nameOfIssuer>FIRST BUSINESS FINL SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>319390100</cusip>
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  <infoTable>
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    <value>234110</value>
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      <sshPrnamt>4341</sshPrnamt>
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      <Sole>4341</Sole>
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  <infoTable>
    <nameOfIssuer>FIRST CMNTY BANKSHARES INC V</nameOfIssuer>
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    <value>188833</value>
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      <sshPrnamt>4548</sshPrnamt>
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      <Sole>4548</Sole>
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  <infoTable>
    <nameOfIssuer>FIRST CMNTY BANKSHARES INC V</nameOfIssuer>
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    <value>15072</value>
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      <sshPrnamt>363</sshPrnamt>
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    <cusip>336433107</cusip>
    <value>406513408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2060800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2060800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>FT VEST SMID</titleOfClass>
    <cusip>33738D820</cusip>
    <value>909404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41908</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>PFD SECS INC ETF</titleOfClass>
    <cusip>33739E108</cusip>
    <value>999183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56292</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56292</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>MANAGD MUN ETF</titleOfClass>
    <cusip>33739N108</cusip>
    <value>3106471</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>EME MRK BD ETF</titleOfClass>
    <cusip>33739P202</cusip>
    <value>631177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21964</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21964</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>MUNI HI INCM ETF</titleOfClass>
    <cusip>33739P301</cusip>
    <value>283338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>RIVR FRNT DYN</titleOfClass>
    <cusip>33739P707</cusip>
    <value>320981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3907</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>NEW YORK MUNI</titleOfClass>
    <cusip>33739P822</cusip>
    <value>728384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27559</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>HORIZON MNGD ETF</titleOfClass>
    <cusip>33739P871</cusip>
    <value>1291328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35081</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35081</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>HORIZON DMST ETF</titleOfClass>
    <cusip>33739P889</cusip>
    <value>1508811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39348</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>ULTRA SHT DUR MU</titleOfClass>
    <cusip>33740J104</cusip>
    <value>832817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41537</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRADED FD III</nameOfIssuer>
    <titleOfClass>MERGER ARBITRA</titleOfClass>
    <cusip>33740J203</cusip>
    <value>3111665</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150322</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>150322</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>ASIA EX JAPAN</titleOfClass>
    <cusip>33737J109</cusip>
    <value>796567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18323</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18323</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>EUROPE ALPHADEX</titleOfClass>
    <cusip>33737J117</cusip>
    <value>2210995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40487</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40487</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>CHINA ALPHADEX</titleOfClass>
    <cusip>33737J141</cusip>
    <value>216058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6894</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6894</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>JAPAN ALPHADEX</titleOfClass>
    <cusip>33737J158</cusip>
    <value>1342447</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18491</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>DEV MRK EX US</titleOfClass>
    <cusip>33737J174</cusip>
    <value>25759821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>296329</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>296329</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>EMERG MKT ALPH</titleOfClass>
    <cusip>33737J182</cusip>
    <value>2234067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74584</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>74584</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>GERMANY ALPHA</titleOfClass>
    <cusip>33737J190</cusip>
    <value>3332614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55527</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>55527</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>UNIT KING ALPH</titleOfClass>
    <cusip>33737J224</cusip>
    <value>4304448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85471</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85471</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>SWITZLND ALPHA</titleOfClass>
    <cusip>33737J232</cusip>
    <value>2222093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28014</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28014</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>EM SML CP ALPH</titleOfClass>
    <cusip>33737J307</cusip>
    <value>1091426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>EX US SML CP</titleOfClass>
    <cusip>33737J406</cusip>
    <value>1515544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23440</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCH TRD ALPHDX FD</nameOfIssuer>
    <titleOfClass>EURO ALPHADEX</titleOfClass>
    <cusip>33737J505</cusip>
    <value>3627663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>58257</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRAD FD VI</nameOfIssuer>
    <titleOfClass>FST TR GLB FD</titleOfClass>
    <cusip>33739H101</cusip>
    <value>690361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24046</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24046</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>MULTI ASSET DI</titleOfClass>
    <cusip>33738R100</cusip>
    <value>751274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46461</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>BUYWRIT INCM ETF</titleOfClass>
    <cusip>33738R308</cusip>
    <value>990660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43166</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>BUYWRIT INCM ETF</titleOfClass>
    <cusip>33738R308</cusip>
    <value>277695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>RISNG DIVD ACHIV</titleOfClass>
    <cusip>33738R506</cusip>
    <value>293604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>RBA DEGLOBALIZAT</titleOfClass>
    <cusip>33738R563</cusip>
    <value>854169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38405</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>DORSEY WRT 5 ETF</titleOfClass>
    <cusip>33738R605</cusip>
    <value>3684995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60972</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60972</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>S&amp;P 500 ECONOMIC</titleOfClass>
    <cusip>33738R613</cusip>
    <value>909798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38910</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>S NETWORK STREAM</titleOfClass>
    <cusip>33738R647</cusip>
    <value>710453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23384</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>INTL DEV STRNGTH</titleOfClass>
    <cusip>33738R662</cusip>
    <value>1282349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32851</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32851</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>DORSEYWRIGHT MOM</titleOfClass>
    <cusip>33738R696</cusip>
    <value>1013433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25058</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>RBA INDL ETF</titleOfClass>
    <cusip>33738R704</cusip>
    <value>764382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>RBA INDL ETF</titleOfClass>
    <cusip>33738R704</cusip>
    <value>420964</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>DORSEY WRIGHT</titleOfClass>
    <cusip>33738R712</cusip>
    <value>441166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15856</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15856</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ ARTFCIAL</titleOfClass>
    <cusip>33738R720</cusip>
    <value>2716389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58847</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>58847</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>FIRST TRUST S&amp;P</titleOfClass>
    <cusip>33738R738</cusip>
    <value>838488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23276</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>FIRST TRUST SMID</titleOfClass>
    <cusip>33738R746</cusip>
    <value>533663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18271</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18271</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>EMERGING MKTS</titleOfClass>
    <cusip>33738R779</cusip>
    <value>785993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14514</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14514</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ TRANSN</titleOfClass>
    <cusip>33738R795</cusip>
    <value>1657823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43501</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ SEMCNDTR</titleOfClass>
    <cusip>33738R811</cusip>
    <value>280193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ SEMCNDTR</titleOfClass>
    <cusip>33738R811</cusip>
    <value>8989771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ PHRMTCLS</titleOfClass>
    <cusip>33738R837</cusip>
    <value>352645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10264</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ OIL GAS</titleOfClass>
    <cusip>33738R845</cusip>
    <value>481226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12467</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ BK ETF</titleOfClass>
    <cusip>33738R860</cusip>
    <value>2625689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72593</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>72593</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>DORSEY WRIGHT</titleOfClass>
    <cusip>33738R878</cusip>
    <value>476131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13671</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>DORSEY WRIGHT</titleOfClass>
    <cusip>33738R886</cusip>
    <value>806669</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31922</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31922</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>DORSY WRGH VLU</titleOfClass>
    <cusip>33741L207</cusip>
    <value>1489937</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43557</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43557</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>SMID RISNG ETF</titleOfClass>
    <cusip>33741X102</cusip>
    <value>674253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>SMID RISNG ETF</titleOfClass>
    <cusip>33741X102</cusip>
    <value>822865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20869</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE TRADED FD</nameOfIssuer>
    <titleOfClass>INTL RISING DIV</titleOfClass>
    <cusip>33741X300</cusip>
    <value>1034218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44454</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44454</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>SHS ISSUED FRST</titleOfClass>
    <cusip>33733C108</cusip>
    <value>3133249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33139</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33139</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>33734K109</cusip>
    <value>2691920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22078</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>33734Y109</cusip>
    <value>3530032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29576</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29576</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>33735J101</cusip>
    <value>295520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>33735J101</cusip>
    <value>3266974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35376</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35376</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>33735K108</cusip>
    <value>1455877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9445</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9445</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>MID CAP VAL FD</titleOfClass>
    <cusip>33737M201</cusip>
    <value>376522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6597</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED ALP</nameOfIssuer>
    <titleOfClass>SML CP GRW ALP</titleOfClass>
    <cusip>33737M300</cusip>
    <value>1232713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12711</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12711</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>US EQTY OPPT ETF</titleOfClass>
    <cusip>336920103</cusip>
    <value>2710251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17066</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>COM SHS ANNUAL</titleOfClass>
    <cusip>33718M105</cusip>
    <value>1749899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21318</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21318</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ LUX DIGI</titleOfClass>
    <cusip>33719L106</cusip>
    <value>444132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27377</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>DOW 30 EQL WGT</titleOfClass>
    <cusip>33733A201</cusip>
    <value>857989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21148</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21148</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>WTR ETF</titleOfClass>
    <cusip>33733B100</cusip>
    <value>387150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3754</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CAP STRENGTH ETF</titleOfClass>
    <cusip>33733E104</cusip>
    <value>3259123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35135</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35135</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NY ARCA BIOTECH</titleOfClass>
    <cusip>33733E203</cusip>
    <value>562296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>DJ INTERNT IDX</titleOfClass>
    <cusip>33733E302</cusip>
    <value>819105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>DJ INTERNT IDX</titleOfClass>
    <cusip>33733E302</cusip>
    <value>1168746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4994</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4994</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>DJ INTERNT IDX</titleOfClass>
    <cusip>33733E302</cusip>
    <value>2831763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ 100 EX</titleOfClass>
    <cusip>33733E401</cusip>
    <value>351449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ 100 EX</titleOfClass>
    <cusip>33733E401</cusip>
    <value>560463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5741</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5741</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NAS CLNEDG GREEN</titleOfClass>
    <cusip>33733E500</cusip>
    <value>208743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4492</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4492</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>BITCOIN STRATEGY</titleOfClass>
    <cusip>33733E674</cusip>
    <value>452560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26298</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26298</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>WCM DEVELOPING W</titleOfClass>
    <cusip>33733E740</cusip>
    <value>393518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23435</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>FIRST TR S&amp;P 500</titleOfClass>
    <cusip>33733E799</cusip>
    <value>437061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17223</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NAT GAS ETF</titleOfClass>
    <cusip>33733E807</cusip>
    <value>2275342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>71800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NAT GAS ETF</titleOfClass>
    <cusip>33733E807</cusip>
    <value>643972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20321</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20321</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NAT GAS ETF</titleOfClass>
    <cusip>33733E807</cusip>
    <value>367604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>GROWTH STRENGTH</titleOfClass>
    <cusip>33733E823</cusip>
    <value>2073275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60897</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDXX AEROSPACE</titleOfClass>
    <cusip>33733E831</cusip>
    <value>2665878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59626</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ-100 SEL</titleOfClass>
    <cusip>337344105</cusip>
    <value>1773185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13965</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>337345102</cusip>
    <value>302372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>33734H106</cusip>
    <value>6270463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133329</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>133329</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CONSUMR DISCRE</titleOfClass>
    <cusip>33734X101</cusip>
    <value>1660103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25931</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CONSUMR STAPLE</titleOfClass>
    <cusip>33734X119</cusip>
    <value>1438415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22574</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22574</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>ENERGY ALPHADX</titleOfClass>
    <cusip>33734X127</cusip>
    <value>2471206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>110027</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>FINLS ALPHADEX</titleOfClass>
    <cusip>33734X135</cusip>
    <value>3490186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62114</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>HLTH CARE ALPH</titleOfClass>
    <cusip>33734X143</cusip>
    <value>502966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4582</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDLS PROD DUR</titleOfClass>
    <cusip>33734X150</cusip>
    <value>2065810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25307</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25307</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CLOUD COMPUTING</titleOfClass>
    <cusip>33734X192</cusip>
    <value>1946608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CLOUD COMPUTING</titleOfClass>
    <cusip>33734X192</cusip>
    <value>827855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7570</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CLOUD COMPUTING</titleOfClass>
    <cusip>33734X192</cusip>
    <value>1017048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>DJ GLBL DIVID</titleOfClass>
    <cusip>33734X200</cusip>
    <value>9101710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285052</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>285052</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>S NETWRK FUT VEH</titleOfClass>
    <cusip>33734X309</cusip>
    <value>3209268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39711</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39711</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDXX CRITICAL M</titleOfClass>
    <cusip>33734X713</cusip>
    <value>738559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22058</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>EMERGING MARKETS</titleOfClass>
    <cusip>33734X747</cusip>
    <value>4715125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>126245</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDXX METAVERSE</titleOfClass>
    <cusip>33734X762</cusip>
    <value>2165404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48804</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>DJ INTL INTRNT</titleOfClass>
    <cusip>33734X770</cusip>
    <value>981570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36054</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36054</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>IPOX EUROPE EQ</titleOfClass>
    <cusip>33734X788</cusip>
    <value>253432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8114</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDXX GLOBAL AGR</titleOfClass>
    <cusip>33734X812</cusip>
    <value>221642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ CYB ETF</titleOfClass>
    <cusip>33734X846</cusip>
    <value>5290192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>84400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ CYB ETF</titleOfClass>
    <cusip>33734X846</cusip>
    <value>1130308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18033</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDAQ CYB ETF</titleOfClass>
    <cusip>33734X846</cusip>
    <value>689480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INTL EQUITY OPP</titleOfClass>
    <cusip>33734X853</cusip>
    <value>277297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4491</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>COMMON SHS</titleOfClass>
    <cusip>33735T109</cusip>
    <value>2124306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>119276</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>ALERIAN DISRUPT</titleOfClass>
    <cusip>33736N101</cusip>
    <value>1629266</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41805</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>UT COM SHS ETF</titleOfClass>
    <cusip>33736Q104</cusip>
    <value>1325987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22766</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ CLN EDGE</titleOfClass>
    <cusip>33737A108</cusip>
    <value>3320674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ CLN EDGE</titleOfClass>
    <cusip>33737A108</cusip>
    <value>7490983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45794</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45794</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NASDQ CLN EDGE</titleOfClass>
    <cusip>33737A108</cusip>
    <value>392592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDXX NEXTG ETF</titleOfClass>
    <cusip>33737K205</cusip>
    <value>369341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INDXX NEXTG ETF</titleOfClass>
    <cusip>33737K205</cusip>
    <value>233132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2083</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2083</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>NO AMER ENERGY</titleOfClass>
    <cusip>33738D101</cusip>
    <value>2794502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>64006</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>FIRST TR TA HIYL</titleOfClass>
    <cusip>33738D408</cusip>
    <value>939479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23157</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23157</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>LNG DUR OPRTUN</titleOfClass>
    <cusip>33738D606</cusip>
    <value>10345792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>479638</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>479638</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>VEST INVESTMENT</titleOfClass>
    <cusip>33738D747</cusip>
    <value>731900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37380</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>CORE INVESTMENT</titleOfClass>
    <cusip>33738D788</cusip>
    <value>24987736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1192163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1192163</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>INTERMEDIATE DUR</titleOfClass>
    <cusip>33738D796</cusip>
    <value>1484393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>71537</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>FT VEST RIS</titleOfClass>
    <cusip>33738D879</cusip>
    <value>1277500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>HIGH INCM STRGC</titleOfClass>
    <cusip>33739Q309</cusip>
    <value>1828655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41241</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>FT VEST S&amp;P 500</titleOfClass>
    <cusip>33739Q705</cusip>
    <value>554953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11393</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11393</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHANGE-TRADED FD</nameOfIssuer>
    <titleOfClass>ENERGY INM PARTN</titleOfClass>
    <cusip>33739Q804</cusip>
    <value>345913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10756</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST NASDAQ</titleOfClass>
    <cusip>33740F128</cusip>
    <value>243026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10957</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10957</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQUIT</titleOfClass>
    <cusip>33740F144</cusip>
    <value>306067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9091</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9091</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F185</cusip>
    <value>927495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43097</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST NASDAQ-100</titleOfClass>
    <cusip>33740F193</cusip>
    <value>597798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25820</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST NASD 100</titleOfClass>
    <cusip>33740F219</cusip>
    <value>577559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24682</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST LADDERED SM</titleOfClass>
    <cusip>33740F243</cusip>
    <value>487143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST NASDAQ 1</titleOfClass>
    <cusip>33740F284</cusip>
    <value>744115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31011</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US SMALL</titleOfClass>
    <cusip>33740F292</cusip>
    <value>219213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S</titleOfClass>
    <cusip>33740F367</cusip>
    <value>285175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7652</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7652</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S. EQU</titleOfClass>
    <cusip>33740F375</cusip>
    <value>264300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8819</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8819</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S</titleOfClass>
    <cusip>33740F391</cusip>
    <value>764260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20589</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S</titleOfClass>
    <cusip>33740F425</cusip>
    <value>842094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21652</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21652</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S EQT</titleOfClass>
    <cusip>33740F433</cusip>
    <value>823720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20896</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F458</cusip>
    <value>837891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20704</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F474</cusip>
    <value>798625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19724</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19724</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S EQT</titleOfClass>
    <cusip>33740F482</cusip>
    <value>530672</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12729</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F516</cusip>
    <value>1410313</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33651</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>SKYBRIDGE CRYPTO</titleOfClass>
    <cusip>33740F540</cusip>
    <value>503709</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43274</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43274</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>INNOVATION LEAD</titleOfClass>
    <cusip>33740F565</cusip>
    <value>1321875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44388</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44388</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST INTER EQ</titleOfClass>
    <cusip>33740F573</cusip>
    <value>870812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31837</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31837</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F615</cusip>
    <value>445242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10501</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST UQ EQT</titleOfClass>
    <cusip>33740F672</cusip>
    <value>595052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13702</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13702</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F680</cusip>
    <value>749589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17051</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17051</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F698</cusip>
    <value>219912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4705</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F714</cusip>
    <value>826658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17574</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17574</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US</titleOfClass>
    <cusip>33740F771</cusip>
    <value>304115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6420</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>ACTV FCTR SMCP</titleOfClass>
    <cusip>33740F797</cusip>
    <value>464148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>SMITH OPPORT FXD</titleOfClass>
    <cusip>33740F805</cusip>
    <value>2511089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57607</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>ACTV FCTR MDCP</titleOfClass>
    <cusip>33740F813</cusip>
    <value>1193617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33618</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33618</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740F839</cusip>
    <value>353494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7379</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S.</titleOfClass>
    <cusip>33740F854</cusip>
    <value>777151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17844</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>SMITH UNCONSTRAI</titleOfClass>
    <cusip>33740F888</cusip>
    <value>10096599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>407614</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>407614</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>SECURITIZED PLUS</titleOfClass>
    <cusip>33740U109</cusip>
    <value>818304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38364</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38364</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740U208</cusip>
    <value>395899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7235</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740U307</cusip>
    <value>485986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9656</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9656</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740U315</cusip>
    <value>365733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11883</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11883</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQUT</titleOfClass>
    <cusip>33740U323</cusip>
    <value>629907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20271</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20271</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST EMERGING MK</titleOfClass>
    <cusip>33740U380</cusip>
    <value>1604915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68077</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>68077</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S.</titleOfClass>
    <cusip>33740U406</cusip>
    <value>922397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20831</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQUIT</titleOfClass>
    <cusip>33740U455</cusip>
    <value>660503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20133</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20133</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQUIT</titleOfClass>
    <cusip>33740U489</cusip>
    <value>404473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18452</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST UQ EQT</titleOfClass>
    <cusip>33740U505</cusip>
    <value>844892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16993</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16993</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST NASD 100</titleOfClass>
    <cusip>33740U513</cusip>
    <value>950579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41727</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41727</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQ MA</titleOfClass>
    <cusip>33740U521</cusip>
    <value>211792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6474</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQUTY</titleOfClass>
    <cusip>33740U554</cusip>
    <value>616326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST US EQUITY M</titleOfClass>
    <cusip>33740U562</cusip>
    <value>218483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6450</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST US EQUITY M</titleOfClass>
    <cusip>33740U588</cusip>
    <value>607348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17707</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST US EQUITY M</titleOfClass>
    <cusip>33740U612</cusip>
    <value>214105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6395</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST US EQUITY B</titleOfClass>
    <cusip>33740U620</cusip>
    <value>201936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6533</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6533</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740U661</cusip>
    <value>395735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9705</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S EQT</titleOfClass>
    <cusip>33740U687</cusip>
    <value>439065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11276</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S EQT</titleOfClass>
    <cusip>33740U711</cusip>
    <value>570126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQT</titleOfClass>
    <cusip>33740U737</cusip>
    <value>204587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4979</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4979</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>VEST BUFFERED</titleOfClass>
    <cusip>33740U760</cusip>
    <value>1124637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45330</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S.</titleOfClass>
    <cusip>33740U802</cusip>
    <value>397803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10004</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST U.S</titleOfClass>
    <cusip>33740U810</cusip>
    <value>759193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18126</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>EXPANDED TECHNOL</titleOfClass>
    <cusip>33740U851</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>15476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15476</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST LADDERED</titleOfClass>
    <cusip>33744U204</cusip>
    <value>877703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41592</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41592</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>CONFLUENCE BDC</titleOfClass>
    <cusip>33744U303</cusip>
    <value>522569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30781</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST TR EXCHNG TRADED FD VI</nameOfIssuer>
    <titleOfClass>FT VEST US EQUTY</titleOfClass>
    <cusip>33744U402</cusip>
    <value>1043678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34185</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST US BANCSHARES INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>14907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14907</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST UTD CORP</nameOfIssuer>
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    <value>369001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10071</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10071</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIRST UTD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33741H107</cusip>
    <value>479178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13078</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIRST WATCH RESTAURANT GROUP</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>405782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>405782</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST WATCH RESTAURANT GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33748L101</cusip>
    <value>206456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST WATCH RESTAURANT GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33748L101</cusip>
    <value>865994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82633</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>82633</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRST WATCH RESTAURANT GROUP</nameOfIssuer>
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    <cusip>33748L101</cusip>
    <value>628800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRSTCASH HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>18959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>COM</titleOfClass>
    <cusip>33768G107</cusip>
    <value>2143200</value>
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      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>FIRSTCASH HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33768G107</cusip>
    <value>3100308</value>
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      <sshPrnamt>16491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16491</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIRSTCASH HOLDINGS INC</nameOfIssuer>
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    <cusip>33768G107</cusip>
    <value>1203200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
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    <cusip>337932107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>144223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144223</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>337932107</cusip>
    <value>55432172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1094200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1094200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>337932107</cusip>
    <value>4738027</value>
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      <sshPrnamt>93526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>93526</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
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    <cusip>337932107</cusip>
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      <sshPrnamt>44700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>44700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIRSTSERVICE CORP NEW</nameOfIssuer>
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      <sshPrnamt>26567</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26567</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRSTSERVICE CORP NEW</nameOfIssuer>
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    <value>653018</value>
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      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRSTSUN CAP BANCORP</nameOfIssuer>
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      <sshPrnamt>107345</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>107345</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIRSTSUN CAP BANCORP</nameOfIssuer>
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    <cusip>33767U107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>53367</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53367</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIS TR</nameOfIssuer>
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      <sshPrnamt>36316</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>36316</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIS TR</nameOfIssuer>
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      <sshPrnamt>31818</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>31818</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>523648</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>1521000</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>1521000</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>204982</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>204982</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FISERV INC</nameOfIssuer>
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      <sshPrnamt>730700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>730700</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>300</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIVE BELOW INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>369583</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>72600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>72600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FIVE BELOW INC</nameOfIssuer>
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      <sshPrnamt>206134</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>206134</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIVE BELOW INC</nameOfIssuer>
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      <sshPrnamt>244900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>244900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>69828</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69828</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIVE POINT HOLDINGS LLC</nameOfIssuer>
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    <cusip>33833Q106</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>95184</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>95184</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIVE POINT HOLDINGS LLC</nameOfIssuer>
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      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>13000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FIVE9 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1289450</value>
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      <sshPrnamt>85000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVE9 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>338307101</cusip>
    <value>9416686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>620744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>620744</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVE9 INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>338307101</cusip>
    <value>2123800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>140000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVERR INTL LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>M4R82T106</cusip>
    <value>57645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5753</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVERR INTL LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>M4R82T106</cusip>
    <value>2657304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>265200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>265200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVERR INTL LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>M4R82T106</cusip>
    <value>1008273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>100626</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVERR INTL LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>M4R82T106</cusip>
    <value>4886754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>487700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>487700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLAGSTAR BANK NATIONAL ASSOC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>649445400</cusip>
    <value>40381591</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3066180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3066180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLAGSTAR BANK NATIONAL ASSOC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>649445400</cusip>
    <value>6956394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>528200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>528200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLAGSTAR BANK NATIONAL ASSOC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>649445400</cusip>
    <value>7346002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>557783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>557783</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLAGSTAR BANK NATIONAL ASSOC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>649445400</cusip>
    <value>6424326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>487800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>487800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEX LNG LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G35947202</cusip>
    <value>8736879</value>
    <shrsOrPrnAmt>
      <sshPrnamt>294072</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>294072</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEX LNG LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G35947202</cusip>
    <value>6571852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>221200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEX LNG LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G35947202</cusip>
    <value>4173096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>140461</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEX LNG LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G35947202</cusip>
    <value>1354776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXIBLE SOLUTIONS INTL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33938T104</cusip>
    <value>201098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37237</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>MSTAR EMKT FAC</titleOfClass>
    <cusip>33939L308</cusip>
    <value>5090894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75748</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75748</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX 3R TARGT</titleOfClass>
    <cusip>33939L506</cusip>
    <value>2543503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>104930</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>ESG &amp; CLM INVEST</titleOfClass>
    <cusip>33939L571</cusip>
    <value>1373946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33570</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>ESG &amp; CLM DEVELP</titleOfClass>
    <cusip>33939L597</cusip>
    <value>471327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8061</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8061</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX 5YR TRGT</titleOfClass>
    <cusip>33939L605</cusip>
    <value>794449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32951</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32951</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>ESG &amp; CLM US LRG</titleOfClass>
    <cusip>33939L613</cusip>
    <value>1132666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16223</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>STOX GBL ESG SLT</titleOfClass>
    <cusip>33939L688</cusip>
    <value>5152888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25778</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>STOX US ESG SLCT</titleOfClass>
    <cusip>33939L696</cusip>
    <value>2033468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13401</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13401</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>CR SCORED LONG</titleOfClass>
    <cusip>33939L753</cusip>
    <value>1419991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34063</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34063</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>CR SCD US BD</titleOfClass>
    <cusip>33939L761</cusip>
    <value>926551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19057</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>DISCP DUR MBS</titleOfClass>
    <cusip>33939L779</cusip>
    <value>485560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23451</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>GLB QLT R/E IDX</titleOfClass>
    <cusip>33939L787</cusip>
    <value>296410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4961</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>M STAR DEV MKT</titleOfClass>
    <cusip>33939L803</cusip>
    <value>775587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8252</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>INTL QLTDV IDX</titleOfClass>
    <cusip>33939L837</cusip>
    <value>1839014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>58068</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>QUALT DIVD IDX</titleOfClass>
    <cusip>33939L860</cusip>
    <value>1448296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18312</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXSHARES TR</nameOfIssuer>
    <titleOfClass>FLEXSHARES ULTRA</titleOfClass>
    <cusip>33939L886</cusip>
    <value>4019220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXTRONICS INTL LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>Y2573F102</cusip>
    <value>56083051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>856753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>856753</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXTRONICS INTL LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>Y2573F102</cusip>
    <value>12777792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>195200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEXTRONICS INTL LTD</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>Y2573F102</cusip>
    <value>8522892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>130200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLOOR &amp; DECOR HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>339750101</cusip>
    <value>2427580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47787</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLOOR &amp; DECOR HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>339750101</cusip>
    <value>11358880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>223600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>223600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLOOR &amp; DECOR HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>339750101</cusip>
    <value>9716668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191273</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>191273</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOOR &amp; DECOR HLDGS INC</nameOfIssuer>
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      <sshPrnamt>568900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>568900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOTEK INDUSTRIES INC</nameOfIssuer>
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    <cusip>343389409</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>145786</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145786</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOTEK INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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    <value>520385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30665</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWCO HLDGS INC</nameOfIssuer>
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    <cusip>342909108</cusip>
    <value>5968974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>289756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>289756</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWCO HLDGS INC</nameOfIssuer>
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    <cusip>342909108</cusip>
    <value>3886355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>188658</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FLOWERS FOODS INC</nameOfIssuer>
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    <cusip>343498101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1901932</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1901932</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWERS FOODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>195600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWERS FOODS INC</nameOfIssuer>
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    <cusip>343498101</cusip>
    <value>3708821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>455070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>455070</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWERS FOODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1232280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>151200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWSERVE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34354P105</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>85263</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85263</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWSERVE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34354P105</cusip>
    <value>2955102</value>
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      <sshPrnamt>40200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLOWSERVE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34354P105</cusip>
    <value>2374373</value>
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      <sshPrnamt>32300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUENCE ENERGY INC</nameOfIssuer>
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      <sshPrnamt>30498000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>30498000</None>
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  <infoTable>
    <nameOfIssuer>FLUENCE ENERGY INC</nameOfIssuer>
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    <cusip>34379V103</cusip>
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      <sshPrnamt>687200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>687200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUENCE ENERGY INC</nameOfIssuer>
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    <cusip>34379V103</cusip>
    <value>6379122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>463599</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>463599</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUENCE ENERGY INC</nameOfIssuer>
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      <sshPrnamt>356000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>356000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FLUENT INC</nameOfIssuer>
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    <value>94576</value>
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      <sshPrnamt>29929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>FLUOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
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      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
    <value>1839316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39428</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
    <value>20143470</value>
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      <sshPrnamt>431800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>431800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUOR CORP</nameOfIssuer>
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    <cusip>343412102</cusip>
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      <sshPrnamt>447002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>447002</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
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      <sshPrnamt>269400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>269400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUSHING FINL CORP</nameOfIssuer>
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    <cusip>343873105</cusip>
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      <sshPrnamt>22290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22290</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUTTER ENTMT PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3643J108</cusip>
    <value>1001557</value>
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      <sshPrnamt>9824</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9824</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLUTTER ENTMT PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3643J108</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>175200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>175200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLUTTER ENTMT PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3643J108</cusip>
    <value>26648405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>261387</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUTTER ENTMT PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G3643J108</cusip>
    <value>6402460</value>
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      <sshPrnamt>62800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUX PWR HLDGS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>344057302</cusip>
    <value>237754</value>
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      <sshPrnamt>222200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>222200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FLUX PWR HLDGS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <cusip>302492103</cusip>
    <value>33091193</value>
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      <sshPrnamt>2842886</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2842886</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLYWIRE CORPORATION</nameOfIssuer>
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    <value>464436</value>
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      <sshPrnamt>39900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39900</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLYWIRE CORPORATION</nameOfIssuer>
    <titleOfClass>COM VTG</titleOfClass>
    <cusip>302492103</cusip>
    <value>6325141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>543397</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>543397</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <cusip>302492103</cusip>
    <value>764748</value>
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      <sshPrnamt>65700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>302491303</cusip>
    <value>14387310</value>
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      <sshPrnamt>835500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>835500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FMC CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>302491303</cusip>
    <value>1958775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>113750</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FMC CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>302491303</cusip>
    <value>4818156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>279800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FOGHORN THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>344174107</cusip>
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    <nameOfIssuer>FOLD HLDGS INC</nameOfIssuer>
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      <None>0</None>
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      <None>0</None>
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      <Sole>200874</Sole>
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      <Sole>7900</Sole>
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      <sshPrnamt>22900</sshPrnamt>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <Sole>170384</Sole>
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  <infoTable>
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      <Sole>29100</Sole>
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      <None>0</None>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>4400</Sole>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <Sole>73648</Sole>
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      <Sole>29650</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <shrsOrPrnAmt>
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      <None>0</None>
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      <None>0</None>
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    <nameOfIssuer>FRANKLIN COVEY CO</nameOfIssuer>
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      <None>0</None>
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    <nameOfIssuer>FRANKLIN ELEC INC</nameOfIssuer>
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      <sshPrnamt>44471</sshPrnamt>
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      <Sole>44471</Sole>
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      <None>0</None>
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    <nameOfIssuer>FRANKLIN ETF TR</nameOfIssuer>
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      <sshPrnamt>14669</sshPrnamt>
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      <Sole>14669</Sole>
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      <None>0</None>
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    <nameOfIssuer>FRANKLIN ETHEREUM TR</nameOfIssuer>
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      <sshPrnamt>10300</sshPrnamt>
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      <Sole>10300</Sole>
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      <None>0</None>
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    <nameOfIssuer>FRANKLIN FINL SVCS CORP</nameOfIssuer>
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      <Sole>20639</Sole>
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      <None>0</None>
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      <None>0</None>
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      <Sole>10703183</Sole>
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    <putCall>Put</putCall>
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      <Sole>2300</Sole>
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      <Sole>215500</Sole>
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      <None>0</None>
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      <sshPrnamt>78948</sshPrnamt>
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      <sshPrnamt>14915</sshPrnamt>
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      <Sole>14915</Sole>
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      <Sole>24729</Sole>
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      <None>0</None>
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      <sshPrnamt>196949</sshPrnamt>
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      <Sole>196949</Sole>
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      <sshPrnamt>42161</sshPrnamt>
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      <sshPrnamt>19469</sshPrnamt>
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      <Sole>19469</Sole>
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  <infoTable>
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      <Sole>39656</Sole>
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  <infoTable>
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      <sshPrnamt>133135</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>133135</Sole>
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      <sshPrnamt>12255</sshPrnamt>
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      <Sole>12255</Sole>
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  <infoTable>
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      <sshPrnamt>20590</sshPrnamt>
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      <Sole>20590</Sole>
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  <infoTable>
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      <sshPrnamt>31960</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>31960</Sole>
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  <infoTable>
    <nameOfIssuer>FRANKLIN TEMPLETON ETF TR</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>16363</sshPrnamt>
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      <Sole>16363</Sole>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>121312</sshPrnamt>
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      <Sole>121312</Sole>
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  <infoTable>
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    <cusip>35473P496</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>24975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>24975</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>FRANKLIN TEMPLETON ETF TR</nameOfIssuer>
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    <cusip>35473P512</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>14639</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14639</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>FRANKLIN TEMPLETON ETF TR</nameOfIssuer>
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    <cusip>35473P520</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>37568</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>81900</Sole>
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      <Sole>288100</Sole>
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      <Sole>24838</Sole>
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      <Sole>263000</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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      <sshPrnamt>373033</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>373033</Sole>
      <Shared>0</Shared>
      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>23800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>23800</Sole>
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      <None>0</None>
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      <sshPrnamt>10700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>10700</Sole>
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      <None>0</None>
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    <nameOfIssuer>FTI CONSULTING INC</nameOfIssuer>
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      <sshPrnamt>7500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>7500</Sole>
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      <None>0</None>
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      <Sole>37451</Sole>
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      <None>0</None>
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      <sshPrnamt>79876</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>79876</Sole>
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      <None>0</None>
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      <sshPrnamt>221372</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>221372</Sole>
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      <None>0</None>
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      <sshPrnamt>221399</sshPrnamt>
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      <None>0</None>
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      <sshPrnamt>570289</sshPrnamt>
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      <Sole>570289</Sole>
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      <None>0</None>
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      <Sole>1118343</Sole>
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      <Sole>174143</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>52948</Sole>
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      <Sole>62700</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1264</Sole>
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      <None>0</None>
    </votingAuthority>
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    <cusip>G3R239101</cusip>
    <value>145112</value>
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      <sshPrnamt>37400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>37400</Sole>
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      <None>0</None>
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    <nameOfIssuer>GAMBLING COM GROUP LIMITED</nameOfIssuer>
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    <cusip>G3R239101</cusip>
    <value>35230</value>
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      <sshPrnamt>9080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9080</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>55800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>55800</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>GAMEHAUS HOLDINGS INC</nameOfIssuer>
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      <sshPrnamt>36536</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>36536</Sole>
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      <None>0</None>
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    <nameOfIssuer>GAMESQUARE HLDGS INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>667001</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>GAMESTOP CORP</nameOfIssuer>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60300</Sole>
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      <None>0</None>
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    <nameOfIssuer>GAMESTOP CORP</nameOfIssuer>
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      <sshPrnamt>14191300</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>68959</Sole>
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      <None>0</None>
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      <sshPrnamt>5318400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>5318400</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>GAMESTOP CORP NEW</nameOfIssuer>
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      <sshPrnamt>195424</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>195424</None>
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    <nameOfIssuer>GAMING &amp; LEISURE P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>5589327</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5589327</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GAMING &amp; LEISURE P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>36467J108</cusip>
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      <sshPrnamt>64600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GAMING &amp; LEISURE P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>36467J108</cusip>
    <value>2932857</value>
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      <sshPrnamt>66100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>66100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GAMING &amp; LEISURE P</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>36467J108</cusip>
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      <sshPrnamt>30700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>30700</Sole>
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      <None>0</None>
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      <sshPrnamt>53500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>53500</Sole>
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      <None>0</None>
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    <nameOfIssuer>GAOTU TECHEDU INC</nameOfIssuer>
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      <sshPrnamt>486926</sshPrnamt>
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      <Sole>486926</Sole>
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      <None>0</None>
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    <nameOfIssuer>GAOTU TECHEDU INC</nameOfIssuer>
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      <sshPrnamt>66500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66500</Sole>
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      <None>0</None>
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    <nameOfIssuer>GAP INC</nameOfIssuer>
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      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GAP INC</nameOfIssuer>
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      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GAP INC</nameOfIssuer>
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      <sshPrnamt>542600</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>542600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GAP INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>18819</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GAP INC</nameOfIssuer>
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      <sshPrnamt>409500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>409500</Sole>
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      <None>0</None>
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      <sshPrnamt>55441</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55441</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>90700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>90700</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>98865</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>98865</Sole>
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  <infoTable>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>13600</Sole>
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      <None>0</None>
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  <infoTable>
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      <Sole>527049</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>48900</Sole>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>22600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>22600</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>171800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>171800</Sole>
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  <infoTable>
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      <sshPrnamt>54222</sshPrnamt>
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      <Sole>54222</Sole>
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  <infoTable>
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      <sshPrnamt>68000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>68000</Sole>
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      <None>0</None>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>64800</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>64800</Sole>
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  <infoTable>
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    <value>46938</value>
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      <sshPrnamt>2076</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2076</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GATES INDL CORP PLC</nameOfIssuer>
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      <sshPrnamt>29400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GATX CORP</nameOfIssuer>
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      <sshPrnamt>3892</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3892</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GATX CORP</nameOfIssuer>
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    <value>1263476</value>
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      <sshPrnamt>7400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>7400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GATX CORP</nameOfIssuer>
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      <sshPrnamt>37981</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37981</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GBANK FINL HLDGS INC</nameOfIssuer>
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      <sshPrnamt>9293</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9293</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GBANK FINL HLDGS INC</nameOfIssuer>
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    <value>1388175</value>
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      <sshPrnamt>51875</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51875</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>GCI LIBERTY INC</nameOfIssuer>
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      <sshPrnamt>263832</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>263832</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GCI LIBERTY INC</nameOfIssuer>
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      <sshPrnamt>8700</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>8700</Sole>
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      <None>0</None>
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    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
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      <sshPrnamt>376613</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>376613</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
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      <sshPrnamt>306900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>306900</Sole>
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      <None>0</None>
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    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
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      <sshPrnamt>184138</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>184138</Sole>
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      <None>0</None>
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    <nameOfIssuer>GDS HLDGS LTD</nameOfIssuer>
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      <sshPrnamt>146800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>146800</Sole>
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      <None>0</None>
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    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
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      <sshPrnamt>700</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>700</Sole>
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      <None>0</None>
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    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
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      <sshPrnamt>1911995</sshPrnamt>
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      <Sole>1911995</Sole>
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      <None>0</None>
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    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
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    <value>340524</value>
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      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
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      <sshPrnamt>1604300</sshPrnamt>
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      <Sole>1604300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
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      <sshPrnamt>40965</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>40965</Sole>
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      <None>0</None>
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    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
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      <sshPrnamt>658900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>658900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GE HEALTHCARE TECHNOLOGIES I</nameOfIssuer>
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      <sshPrnamt>1293268</sshPrnamt>
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      <Sole>1293268</Sole>
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  <infoTable>
    <nameOfIssuer>GE HEALTHCARE TECHNOLOGIES I</nameOfIssuer>
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      <sshPrnamt>971300</sshPrnamt>
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      <Sole>971300</Sole>
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      <None>0</None>
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    <nameOfIssuer>GE HEALTHCARE TECHNOLOGIES I</nameOfIssuer>
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      <sshPrnamt>780000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>780000</Sole>
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      <None>0</None>
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      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
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      <None>0</None>
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    <nameOfIssuer>GE VERNOVA INC</nameOfIssuer>
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      <sshPrnamt>100430</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100430</Sole>
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  <infoTable>
    <nameOfIssuer>GE VERNOVA INC</nameOfIssuer>
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      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>1043000</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1043000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GE VERNOVA INC</nameOfIssuer>
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    <cusip>36828A101</cusip>
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      <sshPrnamt>72561</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>72561</Sole>
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  <infoTable>
    <nameOfIssuer>GE VERNOVA INC</nameOfIssuer>
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      <sshPrnamt>1089100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1089100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GELTEQ LIMITED</nameOfIssuer>
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      <sshPrnamt>13830</sshPrnamt>
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      <Sole>13830</Sole>
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      <None>0</None>
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  <infoTable>
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      <Sole>102530</Sole>
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  <infoTable>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>942000</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>124100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>124100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GEN DIGITAL INC</nameOfIssuer>
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      <sshPrnamt>3447347</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>3447347</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GEN DIGITAL INC</nameOfIssuer>
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      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>200</Sole>
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  <infoTable>
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    <value>4329017</value>
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      <sshPrnamt>229900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>229900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GEN DIGITAL INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>436</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GEN DIGITAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>105000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>105000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GENASYS INC</nameOfIssuer>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>27700</Sole>
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      <None>0</None>
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      <Sole>99985</Sole>
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      <None>0</None>
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      <sshPrnamt>297200</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>22</sshPrnamt>
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      <Sole>22</Sole>
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      <None>0</None>
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      <sshPrnamt>115400</sshPrnamt>
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      <Sole>115400</Sole>
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      <None>0</None>
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      <sshPrnamt>357900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>357900</Sole>
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      <sshPrnamt>146146</sshPrnamt>
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  <infoTable>
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      <sshPrnamt>225800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>225800</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>43300</Sole>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>14800</sshPrnamt>
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  <infoTable>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>0</Sole>
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  <infoTable>
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    <shrsOrPrnAmt>
      <sshPrnamt>171755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171755</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL NET LEASE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>379378201</cusip>
    <value>950976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>101600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL NET LEASE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>379378201</cusip>
    <value>1274308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>136144</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL NET LEASE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>379378201</cusip>
    <value>1262664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>134900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PARTNERS LP</nameOfIssuer>
    <titleOfClass>COM UNITS</titleOfClass>
    <cusip>37946R109</cusip>
    <value>762010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PARTNERS LP</nameOfIssuer>
    <titleOfClass>COM UNITS</titleOfClass>
    <cusip>37946R109</cusip>
    <value>810804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19259</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19259</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PARTNERS LP</nameOfIssuer>
    <titleOfClass>COM UNITS</titleOfClass>
    <cusip>37946R109</cusip>
    <value>909360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PMTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37940X102</cusip>
    <value>344361582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5116814</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5116814</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PMTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37940X102</cusip>
    <value>22942570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>340900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>340900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PMTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37940X102</cusip>
    <value>8883600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL SHIP LEASE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>Y27183600</cusip>
    <value>6614207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177658</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL SHIP LEASE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>Y27183600</cusip>
    <value>3499620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>94000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL SHIP LEASE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>Y27183600</cusip>
    <value>861316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23135</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23135</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL SHIP LEASE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>Y27183600</cusip>
    <value>1559937</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GB MSCI AR ETF</titleOfClass>
    <cusip>37950E259</cusip>
    <value>2892920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GB MSCI AR ETF</titleOfClass>
    <cusip>37950E259</cusip>
    <value>3792152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40636</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40636</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GB MSCI AR ETF</titleOfClass>
    <cusip>37950E259</cusip>
    <value>1875732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBX SUPDV US</titleOfClass>
    <cusip>37950E291</cusip>
    <value>923567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48866</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48866</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLB X GURU INDEX</titleOfClass>
    <cusip>37950E341</cusip>
    <value>279365</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4747</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4747</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>MSCI CHINA CNSMR</titleOfClass>
    <cusip>37950E408</cusip>
    <value>499565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25129</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25129</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DATA CTR &amp; DIGIT</titleOfClass>
    <cusip>37954Y236</cusip>
    <value>1806584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DATA CTR &amp; DIGIT</titleOfClass>
    <cusip>37954Y236</cusip>
    <value>580814</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24241</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DATA CTR &amp; DIGIT</titleOfClass>
    <cusip>37954Y236</cusip>
    <value>428884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLB X MLP ENRG I</titleOfClass>
    <cusip>37954Y293</cusip>
    <value>1330920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLB X MLP ENRG I</titleOfClass>
    <cusip>37954Y293</cusip>
    <value>414064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>MSCI GREECE ETF</titleOfClass>
    <cusip>37954Y319</cusip>
    <value>1296561</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>MSCI GREECE ETF</titleOfClass>
    <cusip>37954Y319</cusip>
    <value>700207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10963</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10963</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>MSCI GREECE ETF</titleOfClass>
    <cusip>37954Y319</cusip>
    <value>25937607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>406100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>406100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLBX MSCI COLUM</titleOfClass>
    <cusip>37954Y327</cusip>
    <value>5791584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>146400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLBX MSCI COLUM</titleOfClass>
    <cusip>37954Y327</cusip>
    <value>1833962</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46359</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLBX MSCI COLUM</titleOfClass>
    <cusip>37954Y327</cusip>
    <value>656696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>S&amp;P EX US ETF</titleOfClass>
    <cusip>37954Y368</cusip>
    <value>243933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6613</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6613</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>CYBRSCURTY ETF</titleOfClass>
    <cusip>37954Y384</cusip>
    <value>9727614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>387400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>387400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>CYBRSCURTY ETF</titleOfClass>
    <cusip>37954Y384</cusip>
    <value>2997933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119392</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>119392</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>CYBRSCURTY ETF</titleOfClass>
    <cusip>37954Y384</cusip>
    <value>9152595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>364500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>364500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DORSEY WRIGHT</titleOfClass>
    <cusip>37954Y418</cusip>
    <value>465758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20853</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20853</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RUSSELL 2000</titleOfClass>
    <cusip>37954Y459</cusip>
    <value>159965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RUSSELL 2000</titleOfClass>
    <cusip>37954Y459</cusip>
    <value>291929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19527</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19527</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RUSSELL 2000</titleOfClass>
    <cusip>37954Y459</cusip>
    <value>1050985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>S&amp;P 500 COVERED</titleOfClass>
    <cusip>37954Y475</cusip>
    <value>238693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>S&amp;P 500 COVERED</titleOfClass>
    <cusip>37954Y475</cusip>
    <value>2735187</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>69900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>S&amp;P 500 COVERED</titleOfClass>
    <cusip>37954Y475</cusip>
    <value>567385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>NASDAQ 100 COVER</titleOfClass>
    <cusip>37954Y483</cusip>
    <value>1311975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>76500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>NASDAQ 100 COVER</titleOfClass>
    <cusip>37954Y483</cusip>
    <value>3089761</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>180161</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>NASDAQ 100 COVER</titleOfClass>
    <cusip>37954Y483</cusip>
    <value>1372000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>80000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DAX GERMANY ETF</titleOfClass>
    <cusip>37954Y491</cusip>
    <value>252960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DAX GERMANY ETF</titleOfClass>
    <cusip>37954Y491</cusip>
    <value>3633264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>86178</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DAX GERMANY ETF</titleOfClass>
    <cusip>37954Y491</cusip>
    <value>442680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ARTIFICIAL ETF</titleOfClass>
    <cusip>37954Y632</cusip>
    <value>2062814</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ARTIFICIAL ETF</titleOfClass>
    <cusip>37954Y632</cusip>
    <value>3469074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74332</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>74332</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ARTIFICIAL ETF</titleOfClass>
    <cusip>37954Y632</cusip>
    <value>3439579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>US PFD ETF</titleOfClass>
    <cusip>37954Y657</cusip>
    <value>416521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22637</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>US INFR DEV ETF</titleOfClass>
    <cusip>37954Y673</cusip>
    <value>685935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>US INFR DEV ETF</titleOfClass>
    <cusip>37954Y673</cusip>
    <value>218483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RBTCS ARTFL INTE</titleOfClass>
    <cusip>37954Y715</cusip>
    <value>2013132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RBTCS ARTFL INTE</titleOfClass>
    <cusip>37954Y715</cusip>
    <value>409769</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12335</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RBTCS ARTFL INTE</titleOfClass>
    <cusip>37954Y715</cusip>
    <value>12125300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>365000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>365000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>AGING POPULATION</titleOfClass>
    <cusip>37954Y772</cusip>
    <value>1105344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31049</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X COPPER</titleOfClass>
    <cusip>37954Y830</cusip>
    <value>85069170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1114200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1114200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X COPPER</titleOfClass>
    <cusip>37954Y830</cusip>
    <value>478485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6267</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X COPPER</titleOfClass>
    <cusip>37954Y830</cusip>
    <value>43710375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>572500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>572500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X SILVER</titleOfClass>
    <cusip>37954Y848</cusip>
    <value>155811376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1729700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1729700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X SILVER</titleOfClass>
    <cusip>37954Y848</cusip>
    <value>831619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9232</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9232</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X SILVER</titleOfClass>
    <cusip>37954Y848</cusip>
    <value>46904656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>520700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>520700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>LITHIUM BTRY ETF</titleOfClass>
    <cusip>37954Y855</cusip>
    <value>8148760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>109600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>LITHIUM BTRY ETF</titleOfClass>
    <cusip>37954Y855</cusip>
    <value>5636102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75805</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>LITHIUM BTRY ETF</titleOfClass>
    <cusip>37954Y855</cusip>
    <value>1197035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X GOLD EX</titleOfClass>
    <cusip>37954Y863</cusip>
    <value>550102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X GOLD EX</titleOfClass>
    <cusip>37954Y863</cusip>
    <value>611544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7226</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X URANIUM</titleOfClass>
    <cusip>37954Y871</cusip>
    <value>24215000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X URANIUM</titleOfClass>
    <cusip>37954Y871</cusip>
    <value>26241408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>541842</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>541842</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GLOBAL X URANIUM</titleOfClass>
    <cusip>37954Y871</cusip>
    <value>46105360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>952000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>952000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GENOMICS AND BIO</titleOfClass>
    <cusip>37960A214</cusip>
    <value>270386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6181</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6181</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>CLEANTECH ETF NW</titleOfClass>
    <cusip>37960A222</cusip>
    <value>447956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7681</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7681</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>PURECAP MSCI CON</titleOfClass>
    <cusip>37960A271</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>9423</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9423</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>U S ELECTRIFICAT</titleOfClass>
    <cusip>37960A370</cusip>
    <value>1863704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57951</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57951</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>SHORT-TERM TREAS</titleOfClass>
    <cusip>37960A412</cusip>
    <value>535503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10705</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>1-3 MONTH T-BILL</titleOfClass>
    <cusip>37960A438</cusip>
    <value>1388380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13834</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13834</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DEFENSE TECH ETF</titleOfClass>
    <cusip>37960A529</cusip>
    <value>3726184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DEFENSE TECH ETF</titleOfClass>
    <cusip>37960A529</cusip>
    <value>8020292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>113217</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>DEFENSE TECH ETF</titleOfClass>
    <cusip>37960A529</cusip>
    <value>4540844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>64100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>BRAZIL ACTVE ETF</titleOfClass>
    <cusip>37960A560</cusip>
    <value>402433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12578</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>US CASH FLOW</titleOfClass>
    <cusip>37960A578</cusip>
    <value>210310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5904</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>SUPERDVDND REIT</titleOfClass>
    <cusip>37960A651</cusip>
    <value>4336990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>204575</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
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    <value>469836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18600</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
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    <cusip>37960A669</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>48971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48971</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GBL X BLOCKCHAIN</titleOfClass>
    <cusip>37960A735</cusip>
    <value>832016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>GBL X BLOCKCHAIN</titleOfClass>
    <cusip>37960A735</cusip>
    <value>1172640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>RARE EARTH</titleOfClass>
    <cusip>37960A867</cusip>
    <value>652389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21850</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ZERO COUPON 2031</titleOfClass>
    <cusip>37966B208</cusip>
    <value>472730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9474</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ZERO COUPON 2032</titleOfClass>
    <cusip>37966B307</cusip>
    <value>497683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9948</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9948</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ZERO COUPON 2033</titleOfClass>
    <cusip>37966B406</cusip>
    <value>524593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10478</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10478</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ZERO COUPON 2034</titleOfClass>
    <cusip>37966B505</cusip>
    <value>499275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9981</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9981</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBAL X FDS</nameOfIssuer>
    <titleOfClass>ZERO COUPON 2035</titleOfClass>
    <cusip>37966B604</cusip>
    <value>498397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9948</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9948</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBALFOUNDRIES INC</nameOfIssuer>
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      <sshPrnamt>1584482</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1584482</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBALFOUNDRIES INC</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G39387108</cusip>
    <value>38306176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>861200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>861200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBALFOUNDRIES INC</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G39387108</cusip>
    <value>19503368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>438475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>438475</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBALFOUNDRIES INC</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G39387108</cusip>
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      <sshPrnamt>91600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>91600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBALSTAR INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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      <sshPrnamt>307917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>307917</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBALSTAR INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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    <value>8801115</value>
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      <sshPrnamt>132507</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>132507</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBANT S A</nameOfIssuer>
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      <sshPrnamt>355589</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>355589</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBANT S A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>3725688</value>
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      <sshPrnamt>80800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>80800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBANT S A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>2651325</value>
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      <sshPrnamt>57500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBE LIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>35057480</value>
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      <sshPrnamt>251904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>251904</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBE LIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>10799592</value>
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      <sshPrnamt>77600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>77600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBE LIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>21293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>153</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBE LIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1475202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>10600</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
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      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>13600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBUS MARITIME LIMITED NEW</nameOfIssuer>
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    <value>387172</value>
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      <sshPrnamt>167607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>167607</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>GLOBUS MED INC</nameOfIssuer>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>80133</sshPrnamt>
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      <Sole>80133</Sole>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>22400</Sole>
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      <None>0</None>
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    <shrsOrPrnAmt>
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    <votingAuthority>
      <Sole>15735</Sole>
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      <None>0</None>
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    <value>168168</value>
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      <sshPrnamt>85800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>85800</Sole>
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      <None>0</None>
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      <None>0</None>
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    <nameOfIssuer>GOODRX HLDGS INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>77400</Sole>
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      <None>0</None>
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    <nameOfIssuer>GOODYEAR TIRE &amp; RUBR CO</nameOfIssuer>
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      <sshPrnamt>156700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>156700</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>48330</Sole>
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      <None>0</None>
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      <Sole>190700</Sole>
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      <None>0</None>
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      <Sole>523812</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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      <sshPrnamt>134800</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>134800</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>55075</Sole>
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      <None>0</None>
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    <nameOfIssuer>GORILLA TECHNOLOGY GROUP INC</nameOfIssuer>
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      <sshPrnamt>207600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>207600</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>5358</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <Sole>17172</Sole>
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      <None>0</None>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>166500</Sole>
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      <None>0</None>
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      <sshPrnamt>14600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>14600</Sole>
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      <None>0</None>
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      <sshPrnamt>537385</sshPrnamt>
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      <Sole>537385</Sole>
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      <None>0</None>
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      <sshPrnamt>10670000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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      <sshPrnamt>3732005</sshPrnamt>
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      <Sole>3732005</Sole>
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      <sshPrnamt>7641300</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>7641300</Sole>
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      <None>0</None>
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      <sshPrnamt>48400</sshPrnamt>
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      <Sole>50600</Sole>
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      <sshPrnamt>304758</sshPrnamt>
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      <sshPrnamt>7420</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>7420</Sole>
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  <infoTable>
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      <sshPrnamt>91322</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>91322</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>24129</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>24129</Sole>
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      <None>0</None>
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  <infoTable>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>6100</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>7000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>7000</Sole>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>18872</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAFTECH INTL LTD SR NT</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>384313607</cusip>
    <value>118718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17510</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAFTECH INTL LTD SR NT</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>384313607</cusip>
    <value>123396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAHAM CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384556106</cusip>
    <value>694496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAHAM HLDGS CO</nameOfIssuer>
    <titleOfClass>COM CL B</titleOfClass>
    <cusip>384637104</cusip>
    <value>2593459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2453</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAHAM HLDGS CO</nameOfIssuer>
    <titleOfClass>COM CL B</titleOfClass>
    <cusip>384637104</cusip>
    <value>6906022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6532</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384747101</cusip>
    <value>1751590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33893</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33893</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384747101</cusip>
    <value>10423856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>201700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384747101</cusip>
    <value>52</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>384747101</cusip>
    <value>3173152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAN TIERRA ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38500T200</cusip>
    <value>2483919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276914</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276914</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAN TIERRA ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38500T200</cusip>
    <value>571389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>63700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAN TIERRA ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38500T200</cusip>
    <value>958148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106817</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>106817</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAN TIERRA ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38500T200</cusip>
    <value>182988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAND CANYON ED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38526M106</cusip>
    <value>10059315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59162</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59162</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAND CANYON ED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38526M106</cusip>
    <value>1632288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAND CANYON ED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38526M106</cusip>
    <value>6491745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAND CANYON ED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38526M106</cusip>
    <value>3876684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE CONSTR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>387328107</cusip>
    <value>2080517</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17355</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17355</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE CONSTR INC</nameOfIssuer>
    <titleOfClass>NOTE 3.750% 5/1</titleOfClass>
    <cusip>387328AD9</cusip>
    <value>60807661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23119000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>23119000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE CONSTR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>387328107</cusip>
    <value>3008988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE CONSTR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>387328107</cusip>
    <value>1978380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16503</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16503</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE CONSTR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>387328107</cusip>
    <value>923076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer>
    <titleOfClass>COM STK</titleOfClass>
    <cusip>38741L107</cusip>
    <value>173810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119869</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE PT MTG TR INC</nameOfIssuer>
    <titleOfClass>COM STK</titleOfClass>
    <cusip>38741L107</cusip>
    <value>48285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE RIDGE RESOURCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>387432107</cusip>
    <value>76692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13065</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13065</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITE RIDGE RESOURCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>387432107</cusip>
    <value>668082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113813</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>113813</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>HIPS US HIGH INC</titleOfClass>
    <cusip>38747R306</cusip>
    <value>953205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>82500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>HIPS US HIGH INC</titleOfClass>
    <cusip>38747R306</cusip>
    <value>259965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG BULL DLY</titleOfClass>
    <cusip>38747R348</cusip>
    <value>74213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31446</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG ETOR DLY</titleOfClass>
    <cusip>38747R355</cusip>
    <value>84032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT COIN</titleOfClass>
    <cusip>38747R363</cusip>
    <value>910882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>YIELDBOOST COIN</titleOfClass>
    <cusip>38747R371</cusip>
    <value>94160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>YIELDBOOST COIN</titleOfClass>
    <cusip>38747R371</cusip>
    <value>142357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33261</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33261</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>YIELDBOOST COIN</titleOfClass>
    <cusip>38747R371</cusip>
    <value>136960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT MSTR</titleOfClass>
    <cusip>38747R389</cusip>
    <value>418439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6134</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MSTR</titleOfClass>
    <cusip>38747R397</cusip>
    <value>199793</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138303</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>138303</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG LCID DAI</titleOfClass>
    <cusip>38747R488</cusip>
    <value>41830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18674</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG RDDT DA</titleOfClass>
    <cusip>38747R496</cusip>
    <value>1134385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>76600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG RDDT DA</titleOfClass>
    <cusip>38747R496</cusip>
    <value>481299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG VRT DAI</titleOfClass>
    <cusip>38747R512</cusip>
    <value>668910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG VRT DAI</titleOfClass>
    <cusip>38747R512</cusip>
    <value>1236470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MRVL</titleOfClass>
    <cusip>38747R520</cusip>
    <value>1145222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MRVL</titleOfClass>
    <cusip>38747R520</cusip>
    <value>498275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19231</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19231</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MRVL</titleOfClass>
    <cusip>38747R520</cusip>
    <value>800619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MARA</titleOfClass>
    <cusip>38747R538</cusip>
    <value>59983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MARA</titleOfClass>
    <cusip>38747R538</cusip>
    <value>32144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG IONQ</titleOfClass>
    <cusip>38747R546</cusip>
    <value>141480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG INTC DAI</titleOfClass>
    <cusip>38747R553</cusip>
    <value>7410260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>143000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG INTC DAI</titleOfClass>
    <cusip>38747R553</cusip>
    <value>1502780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG DELL DAI</titleOfClass>
    <cusip>38747R561</cusip>
    <value>491120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG DELL DAI</titleOfClass>
    <cusip>38747R561</cusip>
    <value>461933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13168</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13168</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT TSLA DA</titleOfClass>
    <cusip>38747R595</cusip>
    <value>324684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT TSLA DA</titleOfClass>
    <cusip>38747R595</cusip>
    <value>1146698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109837</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>109837</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT TSLA DA</titleOfClass>
    <cusip>38747R595</cusip>
    <value>105444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>NASDAQ SELECT DI</titleOfClass>
    <cusip>38747R603</cusip>
    <value>1186718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21681</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>YIELDBOOST TSLA</titleOfClass>
    <cusip>38747R611</cusip>
    <value>205771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>YIELDBOOST TSLA</titleOfClass>
    <cusip>38747R611</cusip>
    <value>268231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>77300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT NVDA DA</titleOfClass>
    <cusip>38747R629</cusip>
    <value>893920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>118400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT NVDA DA</titleOfClass>
    <cusip>38747R629</cusip>
    <value>5533176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>732871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>732871</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X SHORT NVDA DA</titleOfClass>
    <cusip>38747R629</cusip>
    <value>89422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11844</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG CRWD DAI</titleOfClass>
    <cusip>38747R645</cusip>
    <value>1192125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>62900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG CRWD DAI</titleOfClass>
    <cusip>38747R645</cusip>
    <value>856662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG TSM DAIL</titleOfClass>
    <cusip>38747R652</cusip>
    <value>1372784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG TSM DAIL</titleOfClass>
    <cusip>38747R652</cusip>
    <value>620781</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG SMCI DAI</titleOfClass>
    <cusip>38747R660</cusip>
    <value>43000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MU DAILY</titleOfClass>
    <cusip>38747R678</cusip>
    <value>7562196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>71100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MU DAILY</titleOfClass>
    <cusip>38747R678</cusip>
    <value>6061244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56988</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56988</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG MU DAILY</titleOfClass>
    <cusip>38747R678</cusip>
    <value>11912320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>112000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG UBER</titleOfClass>
    <cusip>38747R694</cusip>
    <value>315747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>1.25X LNG TESLA</titleOfClass>
    <cusip>38747R702</cusip>
    <value>578270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39771</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39771</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG PLTR</titleOfClass>
    <cusip>38747R710</cusip>
    <value>5050145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>308500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG PLTR</titleOfClass>
    <cusip>38747R710</cusip>
    <value>258826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15811</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15811</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG PLTR</titleOfClass>
    <cusip>38747R710</cusip>
    <value>4650717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>284100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>284100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GANITESHARES 2X</titleOfClass>
    <cusip>38747R736</cusip>
    <value>211836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GANITESHARES 2X</titleOfClass>
    <cusip>38747R736</cusip>
    <value>1332875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87459</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>87459</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GANITESHARES 2X</titleOfClass>
    <cusip>38747R736</cusip>
    <value>413004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GRANITESHARES 2X</titleOfClass>
    <cusip>38747R744</cusip>
    <value>1495300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GRANITESHARES 2X</titleOfClass>
    <cusip>38747R744</cusip>
    <value>788031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GRANITE 2X LONG</titleOfClass>
    <cusip>38747R751</cusip>
    <value>16202670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1327000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1327000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>GRANITE 2X LONG</titleOfClass>
    <cusip>38747R751</cusip>
    <value>5634915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>461500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>461500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG TSLA DAI</titleOfClass>
    <cusip>38747R777</cusip>
    <value>835068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG TSLA DAI</titleOfClass>
    <cusip>38747R777</cusip>
    <value>224559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10864</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10864</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG TSLA DAI</titleOfClass>
    <cusip>38747R777</cusip>
    <value>281112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG COIN DAI</titleOfClass>
    <cusip>38747R801</cusip>
    <value>3737300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>533900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>533900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG COIN DAI</titleOfClass>
    <cusip>38747R801</cusip>
    <value>4598300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>656900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>656900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG NVDA DAI</titleOfClass>
    <cusip>38747R827</cusip>
    <value>68317398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>941400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>941400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG NVDA DAI</titleOfClass>
    <cusip>38747R827</cusip>
    <value>1451981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20008</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG NVDA DAI</titleOfClass>
    <cusip>38747R827</cusip>
    <value>40980279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>564700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>564700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG META DAI</titleOfClass>
    <cusip>38747R843</cusip>
    <value>3297056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>143600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG META DAI</titleOfClass>
    <cusip>38747R843</cusip>
    <value>2105432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>91700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG BABA DAI</titleOfClass>
    <cusip>38747R868</cusip>
    <value>491132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG BABA DAI</titleOfClass>
    <cusip>38747R868</cusip>
    <value>1135280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES ETF TR</nameOfIssuer>
    <titleOfClass>2X LONG AAPL DAI</titleOfClass>
    <cusip>38747R884</cusip>
    <value>502014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRANITESHARES GOLD TR</nameOfIssuer>
    <titleOfClass>SHS BEN INT</titleOfClass>
    <cusip>38748G101</cusip>
    <value>1788875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38779</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38779</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAPHIC PACKAGING HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>388689101</cusip>
    <value>19173216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1928895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1928895</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAPHIC PACKAGING HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>388689101</cusip>
    <value>1756398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>176700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAPHIC PACKAGING HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>388689101</cusip>
    <value>35209885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3542242</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3542242</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAPHIC PACKAGING HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>388689101</cusip>
    <value>606340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAVITY CO LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS NE</titleOfClass>
    <cusip>38911N206</cusip>
    <value>533290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8607</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAY MEDIA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>389375106</cusip>
    <value>16744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3858</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3858</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAY MEDIA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>389375106</cusip>
    <value>256494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAY MEDIA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>389375106</cusip>
    <value>870079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200479</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>200479</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAY MEDIA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>389375106</cusip>
    <value>102858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE BITCOIN MINI TR ET</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>389930207</cusip>
    <value>7935354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>264600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE BITCOIN MINI TR ET</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>389930207</cusip>
    <value>2477534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>82612</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE BITCOIN MINI TR ET</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>389930207</cusip>
    <value>1853382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE BITCOIN TRUST ETF</nameOfIssuer>
    <titleOfClass>SHS REP COM UT</titleOfClass>
    <cusip>389637109</cusip>
    <value>19616168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>371800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>371800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE BITCOIN TRUST ETF</nameOfIssuer>
    <titleOfClass>SHS REP COM UT</titleOfClass>
    <cusip>389637109</cusip>
    <value>5291828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>100300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE CHAINLINK TR ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>38963V106</cusip>
    <value>135198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE CHAINLINK TR ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>38963V106</cusip>
    <value>255594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32895</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE DOGECOIN TR ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>389923103</cusip>
    <value>323219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE ETHEREUM STAKING</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>38964R203</cusip>
    <value>7443528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>374800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>374800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE ETHEREUM STAKING</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>38964R203</cusip>
    <value>934075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>47033</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE ETHEREUM STAKING</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>38964R203</cusip>
    <value>3523164</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>177400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE ETHEREUM STAKING E</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>389638107</cusip>
    <value>6679491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>391300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>391300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE ETHEREUM STAKING E</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>389638107</cusip>
    <value>5572160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>326430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>326430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE ETHEREUM STAKING E</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>389638107</cusip>
    <value>4946886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>289800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>289800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE FUNDS TRUST</nameOfIssuer>
    <titleOfClass>BITCOIN MINERS</titleOfClass>
    <cusip>38963H206</cusip>
    <value>232794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9142</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9142</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE SOLANA STAKING ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>38965D104</cusip>
    <value>62526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE SOLANA STAKING ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>38965D104</cusip>
    <value>247977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40453</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAYSCALE XRP TR ETF</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>38965L106</cusip>
    <value>390300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREAT ELM GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>39037G109</cusip>
    <value>57794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30906</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREAT LAKES DREDGE &amp; DOCK CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>390607109</cusip>
    <value>637772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37516</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37516</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREAT LAKES DREDGE &amp; DOCK CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>390607109</cusip>
    <value>304300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREAT SOUTHN BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>390905107</cusip>
    <value>1576040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24965</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREAT SOUTHN BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>390905107</cusip>
    <value>13825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>219</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN BRICK PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>392709101</cusip>
    <value>1383613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN BRICK PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>392709101</cusip>
    <value>928080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN BRICK PARTNERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>392709101</cusip>
    <value>953860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN CIRCLE DECARBONIZE TEC</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>G4092C107</cusip>
    <value>67407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66740</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN DOT CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>39304D102</cusip>
    <value>1414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN DOT CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>39304D102</cusip>
    <value>580074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393222104</cusip>
    <value>8351188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>507671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>507671</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>NOTE 2.250% 3/1</titleOfClass>
    <cusip>393222AK0</cusip>
    <value>1147942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1149000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1149000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>DEBT 5.250%11/0</titleOfClass>
    <cusip>393222AL8</cusip>
    <value>2463285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1752000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>1752000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>NOTE 5.250%11/0</titleOfClass>
    <cusip>393222AM6</cusip>
    <value>12338922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8776000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8776000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393222104</cusip>
    <value>4280290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>260200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393222104</cusip>
    <value>3594325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>218500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREEN PLAINS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393222104</cusip>
    <value>1441020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>87600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREENBRIER COS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393657101</cusip>
    <value>1149929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21841</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21841</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREENBRIER COS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393657101</cusip>
    <value>642330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREENBRIER COS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393657101</cusip>
    <value>2210352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41982</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41982</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREENBRIER COS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393657101</cusip>
    <value>505440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREENE CNTY BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>394357107</cusip>
    <value>256236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11434</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREENFIRE RES LTD NEW</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>39525U107</cusip>
    <value>369733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58502</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENFIRE RES LTD NEW</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>39525U107</cusip>
    <value>340477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53873</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENLANE HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>395330509</cusip>
    <value>20434</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>55226</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENLIGHT CAP RE LTD</nameOfIssuer>
    <titleOfClass>CLASS A</titleOfClass>
    <cusip>G4095J109</cusip>
    <value>2737629</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158336</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158336</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENLIGHT CAP RE LTD</nameOfIssuer>
    <titleOfClass>CLASS A</titleOfClass>
    <cusip>G4095J109</cusip>
    <value>677768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENLIGHT CAP RE LTD</nameOfIssuer>
    <titleOfClass>CLASS A</titleOfClass>
    <cusip>G4095J109</cusip>
    <value>1014975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>58703</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENPOWER MTR CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39540E401</cusip>
    <value>47639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47167</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>47167</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENPRO CAP CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>39540F309</cusip>
    <value>99413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREENTREE HOSPITALITY GROUP</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>39579V100</cusip>
    <value>57756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45838</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45838</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREIF INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>397624107</cusip>
    <value>1885271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28109</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREIF INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>397624107</cusip>
    <value>878617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREIF INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>397624107</cusip>
    <value>5038634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREIF INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>397624107</cusip>
    <value>684114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREIF INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>397624206</cusip>
    <value>824102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9414</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GREYSTONE HOUSING IMPACT INV</nameOfIssuer>
    <titleOfClass>BEN UNIT CTF</titleOfClass>
    <cusip>02364V206</cusip>
    <value>221011</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44921</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GREYSTONE HOUSING IMPACT INV</nameOfIssuer>
    <titleOfClass>BEN UNIT CTF</titleOfClass>
    <cusip>02364V206</cusip>
    <value>126936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRID DYNAMICS HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>39813G109</cusip>
    <value>70110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRID DYNAMICS HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>39813G109</cusip>
    <value>117420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GRIFFON CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398433102</cusip>
    <value>3514369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48354</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48354</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRIFFON CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398433102</cusip>
    <value>232576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRIFFON CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398433102</cusip>
    <value>1035181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14243</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14243</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRIFOLS S A</nameOfIssuer>
    <titleOfClass>SP ADR REP B NVT</titleOfClass>
    <cusip>398438408</cusip>
    <value>94636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11800</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRIFOLS S A</nameOfIssuer>
    <titleOfClass>SP ADR REP B NVT</titleOfClass>
    <cusip>398438408</cusip>
    <value>170192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>21221</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRIFOLS S A</nameOfIssuer>
    <titleOfClass>SP ADR REP B NVT</titleOfClass>
    <cusip>398438408</cusip>
    <value>130726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>16300</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRINDR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39854F101</cusip>
    <value>22538541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1864230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1864230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GRINDR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39854F101</cusip>
    <value>1360125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>112500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRINDR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39854F101</cusip>
    <value>8403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>695</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GRINDR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39854F101</cusip>
    <value>563394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROCERY OUTLET HLDG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39874R101</cusip>
    <value>173430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROCERY OUTLET HLDG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>39874R101</cusip>
    <value>1144920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>162400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUP 1 AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398905109</cusip>
    <value>3320186</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>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUP 1 AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398905109</cusip>
    <value>4761072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14400</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUP 1 AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398905109</cusip>
    <value>6282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>19</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GROUP 1 AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>398905109</cusip>
    <value>5686836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUPON INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>399473206</cusip>
    <value>2065840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>173600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUPON INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>399473206</cusip>
    <value>1949125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>163792</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GROUPON INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>399473206</cusip>
    <value>1771910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>148900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>17300</Sole>
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      <None>0</None>
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    <nameOfIssuer>HAIN CELESTIAL GROUP INC</nameOfIssuer>
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      <sshPrnamt>204500</sshPrnamt>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>3079900</sshPrnamt>
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      <sshPrnamt>2520900</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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    <nameOfIssuer>HALOZYME THERAPEUTICS INC</nameOfIssuer>
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      <sshPrnamt>9300</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>32100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>32100</Sole>
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      <None>0</None>
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      <sshPrnamt>3000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>2400</Sole>
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    <nameOfIssuer>HANCOCK WHITNEY CORPORATION</nameOfIssuer>
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      <Sole>31810</Sole>
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      <Sole>14617</Sole>
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  <infoTable>
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    <shrsOrPrnAmt>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14365</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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    <shrsOrPrnAmt>
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      <Sole>4976</Sole>
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      <None>0</None>
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    <shrsOrPrnAmt>
      <sshPrnamt>17608</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>17608</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>HARBOR ALPHAEDGE</titleOfClass>
    <cusip>41151J786</cusip>
    <value>610090</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17391</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HARBOR ETF TRUST</nameOfIssuer>
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    <value>528846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18040</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>HUMAN CAP LARGE</titleOfClass>
    <cusip>41151J877</cusip>
    <value>668181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16846</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16846</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>41151J885</cusip>
    <value>2045318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70650</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>70650</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HARLEY DAVIDSON INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>412822108</cusip>
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      <sshPrnamt>1426318</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1426318</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>COM</titleOfClass>
    <cusip>412822108</cusip>
    <value>5710128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>282400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>282400</Sole>
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      <None>0</None>
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    <value>1781604</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>88111</Sole>
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      <None>0</None>
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    <cusip>412822108</cusip>
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      <sshPrnamt>653800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>653800</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HARMONIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>3874726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>431484</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>431484</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>413160102</cusip>
    <value>3316619</value>
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      <sshPrnamt>369334</sshPrnamt>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>369334</Sole>
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      <None>0</None>
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    <nameOfIssuer>HARMONY BIOSCIENCES HLDGS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413197104</cusip>
    <value>11579054</value>
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      <sshPrnamt>413390</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>413390</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HARMONY BIOSCIENCES HLDGS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413197104</cusip>
    <value>1571361</value>
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      <sshPrnamt>56100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HARMONY BIOSCIENCES HLDGS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413197104</cusip>
    <value>4824246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>172233</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>172233</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HARMONY BIOSCIENCES HLDGS IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413197104</cusip>
    <value>1005559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35900</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>256000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>256000</Sole>
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      <None>0</None>
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    <nameOfIssuer>HARMONY GOLD MNG LTD</nameOfIssuer>
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    <cusip>413216300</cusip>
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      <sshPrnamt>218400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>218400</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>121495</sshPrnamt>
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      <Sole>121495</Sole>
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      <Sole>109114</Sole>
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    <titleOfClass>COM</titleOfClass>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>180000</Sole>
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      <None>0</None>
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    <nameOfIssuer>HARROW INC</nameOfIssuer>
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      <Sole>221258</Sole>
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      <None>0</None>
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  <infoTable>
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      <None>0</None>
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      <sshPrnamt>100288</sshPrnamt>
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      <Sole>100288</Sole>
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  <infoTable>
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      <sshPrnamt>29012</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>29012</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>103142</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>40626</sshPrnamt>
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      <Sole>40626</Sole>
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      <None>0</None>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>498187</Sole>
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      <None>0</None>
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  <infoTable>
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    <putCall>Call</putCall>
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      <Sole>38600</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>39754</sshPrnamt>
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      <Sole>39754</Sole>
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  <infoTable>
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      <sshPrnamt>11900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>11900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HASBRO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <Sole>1182618</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>111800</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>111800</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>35107</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>35107</Sole>
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  <infoTable>
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      <sshPrnamt>48400</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>48400</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>13700</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>676600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESAI GROUP</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>428050108</cusip>
    <value>24856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESAI GROUP</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>428050108</cusip>
    <value>1697856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>88800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESAI GROUP</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>428050108</cusip>
    <value>1630592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85282</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESAI GROUP</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>428050108</cusip>
    <value>1504744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>78700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESS MIDSTREAM LP</nameOfIssuer>
    <titleOfClass>CL A SHS</titleOfClass>
    <cusip>428103105</cusip>
    <value>10700561</value>
    <shrsOrPrnAmt>
      <sshPrnamt>275291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>275291</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESS MIDSTREAM LP</nameOfIssuer>
    <titleOfClass>CL A SHS</titleOfClass>
    <cusip>428103105</cusip>
    <value>2355522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HESS MIDSTREAM LP</nameOfIssuer>
    <titleOfClass>CL A SHS</titleOfClass>
    <cusip>428103105</cusip>
    <value>1146665</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>60357017</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2534944</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2534944</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>14321715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>601500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>601500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>61594089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2586900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2586900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>33870987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1422553</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1422553</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>35160227</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1476700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1476700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEXCEL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>428291108</cusip>
    <value>10919237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134922</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134922</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEXCEL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>428291108</cusip>
    <value>1537670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEXCEL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>428291108</cusip>
    <value>3153033</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEXCEL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>428291108</cusip>
    <value>1294880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF FOODS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40417F109</cusip>
    <value>21090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF SINCLAIR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>403949100</cusip>
    <value>511598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF SINCLAIR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>403949100</cusip>
    <value>16885354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270642</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270642</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF SINCLAIR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>403949100</cusip>
    <value>10999357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>176300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF SINCLAIR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>403949100</cusip>
    <value>698955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11203</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF SINCLAIR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>403949100</cusip>
    <value>14380895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>230500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>230500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGH INCOME SECS FD</nameOfIssuer>
    <titleOfClass>SHS BEN INT</titleOfClass>
    <cusip>42968F108</cusip>
    <value>92405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16740</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGH TEMPLAR TECHNOLOGY LTD</nameOfIssuer>
    <titleOfClass>SPON ADS</titleOfClass>
    <cusip>747798106</cusip>
    <value>272027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>140220</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGH TIDE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>42981E401</cusip>
    <value>167857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGH TIDE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>42981E401</cusip>
    <value>280296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>122400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHLAND OPPS &amp; INCOME FD</nameOfIssuer>
    <titleOfClass>HIGHLAND INCOME</titleOfClass>
    <cusip>43010E404</cusip>
    <value>88870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15564</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHLANDER SILVER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43087N204</cusip>
    <value>136193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23162</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23162</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHPEAK ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43114Q105</cusip>
    <value>232530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHPEAK ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43114Q105</cusip>
    <value>353301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51203</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHPEAK ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43114Q105</cusip>
    <value>952890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>138100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHWOODS PPTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>431284108</cusip>
    <value>27501166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1284501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1284501</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHWOODS PPTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>431284108</cusip>
    <value>518122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHWOODS PPTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>431284108</cusip>
    <value>2802077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>130877</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HIGHWOODS PPTYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>431284108</cusip>
    <value>348983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HILLMAN SOLUTIONS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>431636109</cusip>
    <value>15047802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1808630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1808630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HILLMAN SOLUTIONS CORP</nameOfIssuer>
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      <Sole>16215</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HURON CONSULTING GROUP INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>22820</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22820</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HURON CONSULTING GROUP INC</nameOfIssuer>
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    <value>3008764</value>
    <shrsOrPrnAmt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <value>1223904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9600</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HUT 8 CORP</nameOfIssuer>
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      <sshPrnamt>1730000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1730000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>44812J104</cusip>
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      <sshPrnamt>470406</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>470406</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HUT 8 CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44812J104</cusip>
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      <sshPrnamt>1286100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1286100</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>30514</sshPrnamt>
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    <votingAuthority>
      <Sole>30514</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HUYA INC</nameOfIssuer>
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      <sshPrnamt>112299</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>112299</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10300</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HYATT HOTELS CORP</nameOfIssuer>
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      <sshPrnamt>700545</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700545</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HYATT HOTELS CORP</nameOfIssuer>
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    <cusip>448579102</cusip>
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      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HYATT HOTELS CORP</nameOfIssuer>
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      <sshPrnamt>87</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>87</Sole>
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      <None>0</None>
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    <nameOfIssuer>HYATT HOTELS CORP</nameOfIssuer>
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      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8800</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HYCROFT MINING HOLDING CORP</nameOfIssuer>
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      <sshPrnamt>843306</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>843306</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HYCROFT MINING HOLDING CORP</nameOfIssuer>
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      <sshPrnamt>644100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>644100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HYCROFT MINING HOLDING CORP</nameOfIssuer>
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      <sshPrnamt>37552</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37552</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HYCROFT MINING HOLDING CORP</nameOfIssuer>
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      <sshPrnamt>457500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>457500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HYLIION HOLDINGS CORP</nameOfIssuer>
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      <sshPrnamt>57100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HYLIION HOLDINGS CORP</nameOfIssuer>
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      <sshPrnamt>190177</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>190177</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>58700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>58700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>112906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>112906</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HYPERLIQUID STRATEGIES INC</nameOfIssuer>
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      <sshPrnamt>1144398</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1144398</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HYPERLIQUID STRATEGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44916Y106</cusip>
    <value>105363</value>
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      <sshPrnamt>20700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HYPERLIQUID STRATEGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>87039</value>
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      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>449172105</cusip>
    <value>1174001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36112</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36112</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>HYSTER-YALE INC</nameOfIssuer>
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    <cusip>449172105</cusip>
    <value>282837</value>
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      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8700</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>I-80 GOLD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44955L106</cusip>
    <value>271676</value>
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      <sshPrnamt>178734</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>178734</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>I-80 GOLD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>801306</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>801306</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <value>575703</value>
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      <sshPrnamt>25747</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25747</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>26957</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26957</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>98774</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98774</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IAC INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
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    <value>432324</value>
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      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10800</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IAC INC</nameOfIssuer>
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    <value>3166373</value>
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      <sshPrnamt>79100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>79100</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>450913108</cusip>
    <value>1882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IAMGOLD CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>450913108</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>2646468</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2646468</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <Sole>186000</Sole>
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      <Sole>109600</Sole>
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      <Sole>23300</Sole>
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      <Sole>12100</Sole>
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    <nameOfIssuer>ICZOOM GROUP INC.</nameOfIssuer>
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      <Sole>15489</Sole>
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      <sshPrnamt>6300</sshPrnamt>
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      <Sole>6300</Sole>
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  <infoTable>
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      <sshPrnamt>97355</sshPrnamt>
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      <Sole>97355</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>28100</Sole>
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      <sshPrnamt>45900</sshPrnamt>
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      <Sole>45900</Sole>
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      <sshPrnamt>133919</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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  <infoTable>
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      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ACTIVELY MANAGED EXC</nameOfIssuer>
    <titleOfClass>HIGH YIELD SYSTE</titleOfClass>
    <cusip>46090A853</cusip>
    <value>1689063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76556</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>76556</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ACTIVELY MANAGED EXC</nameOfIssuer>
    <titleOfClass>VAR RATE INVT</titleOfClass>
    <cusip>46090A879</cusip>
    <value>1961192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78338</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>78338</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ACTIVELY MANAGED EXC</nameOfIssuer>
    <titleOfClass>INTERMEDIATE MUN</titleOfClass>
    <cusip>46127B502</cusip>
    <value>290262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5662</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ACTIVELY MANAGED EXC</nameOfIssuer>
    <titleOfClass>CORE FIXED INCM</titleOfClass>
    <cusip>46127B601</cusip>
    <value>759185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ACTVELY MNGD ETC FD</nameOfIssuer>
    <titleOfClass>OPTIMUM YIELD</titleOfClass>
    <cusip>46090F100</cusip>
    <value>367184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ACTVELY MNGD ETC FD</nameOfIssuer>
    <titleOfClass>OPTIMUM YIELD</titleOfClass>
    <cusip>46090F100</cusip>
    <value>3000638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>173247</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO ADVANTAGE MUN INCOME</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>46132E103</cusip>
    <value>87960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10157</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10157</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES</nameOfIssuer>
    <titleOfClass>JAPANESE YEN</titleOfClass>
    <cusip>46138W107</cusip>
    <value>25334076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>437700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>437700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES</nameOfIssuer>
    <titleOfClass>JAPANESE YEN</titleOfClass>
    <cusip>46138W107</cusip>
    <value>4769312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>82400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES AUSTR</nameOfIssuer>
    <titleOfClass>AUSTRALIAN DOL</titleOfClass>
    <cusip>46090N103</cusip>
    <value>280328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES AUSTR</nameOfIssuer>
    <titleOfClass>AUSTRALIAN DOL</titleOfClass>
    <cusip>46090N103</cusip>
    <value>389998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5704</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES AUSTR</nameOfIssuer>
    <titleOfClass>AUSTRALIAN DOL</titleOfClass>
    <cusip>46090N103</cusip>
    <value>294003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES BRIT</nameOfIssuer>
    <titleOfClass>BRIT POUN STRL</titleOfClass>
    <cusip>46138M109</cusip>
    <value>203760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES CDN D</nameOfIssuer>
    <titleOfClass>CDN DLR SHS</titleOfClass>
    <cusip>46138T104</cusip>
    <value>4319772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES CDN D</nameOfIssuer>
    <titleOfClass>CDN DLR SHS</titleOfClass>
    <cusip>46138T104</cusip>
    <value>2128278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES EURO</nameOfIssuer>
    <titleOfClass>EURO SHS</titleOfClass>
    <cusip>46138K103</cusip>
    <value>11586534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>108600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES EURO</nameOfIssuer>
    <titleOfClass>EURO SHS</titleOfClass>
    <cusip>46138K103</cusip>
    <value>12664103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>118700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES SWISS</nameOfIssuer>
    <titleOfClass>SWISS FRANC</titleOfClass>
    <cusip>46138R108</cusip>
    <value>2432332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO CURRENCYSHARES SWISS</nameOfIssuer>
    <titleOfClass>SWISS FRANC</titleOfClass>
    <cusip>46138R108</cusip>
    <value>1755519</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB COMMDY INDX TRCK</nameOfIssuer>
    <titleOfClass>UNIT</titleOfClass>
    <cusip>46138B103</cusip>
    <value>1777530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB COMMDY INDX TRCK</nameOfIssuer>
    <titleOfClass>UNIT</titleOfClass>
    <cusip>46138B103</cusip>
    <value>7070806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244242</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>244242</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB COMMDY INDX TRCK</nameOfIssuer>
    <titleOfClass>UNIT</titleOfClass>
    <cusip>46138B103</cusip>
    <value>4215120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>145600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>AGRICULTURE FD</titleOfClass>
    <cusip>46140H106</cusip>
    <value>2936900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>107500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>AGRICULTURE FD</titleOfClass>
    <cusip>46140H106</cusip>
    <value>2144620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>78500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>OIL FD</titleOfClass>
    <cusip>46140H403</cusip>
    <value>865480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>OIL FD</titleOfClass>
    <cusip>46140H403</cusip>
    <value>362105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18409</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>OIL FD</titleOfClass>
    <cusip>46140H403</cusip>
    <value>540925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>BASE METALS FD</titleOfClass>
    <cusip>46140H700</cusip>
    <value>1261950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB MULTI-SECTOR COMM</nameOfIssuer>
    <titleOfClass>BASE METALS FD</titleOfClass>
    <cusip>46140H700</cusip>
    <value>223062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9492</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9492</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB US DLR INDEX TR</nameOfIssuer>
    <titleOfClass>BEARISH FD</titleOfClass>
    <cusip>46141D104</cusip>
    <value>3193200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>177400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB US DLR INDEX TR</nameOfIssuer>
    <titleOfClass>BEARISH FD</titleOfClass>
    <cusip>46141D104</cusip>
    <value>336600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB US DLR INDEX TR</nameOfIssuer>
    <titleOfClass>BULLISH FD</titleOfClass>
    <cusip>46141D203</cusip>
    <value>7458930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>268500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>268500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB US DLR INDEX TR</nameOfIssuer>
    <titleOfClass>BULLISH FD</titleOfClass>
    <cusip>46141D203</cusip>
    <value>7145155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>257205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>257205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO DB US DLR INDEX TR</nameOfIssuer>
    <titleOfClass>BULLISH FD</titleOfClass>
    <cusip>46141D203</cusip>
    <value>6100488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>219600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>EQUAL WEGT 0-30</titleOfClass>
    <cusip>46138E107</cusip>
    <value>949115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34792</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMLCP INFO</titleOfClass>
    <cusip>46138E115</cusip>
    <value>412172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6861</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6861</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMLCP FINL</titleOfClass>
    <cusip>46138E156</cusip>
    <value>602887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10605</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMLCP STAP</titleOfClass>
    <cusip>46138E172</cusip>
    <value>453427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14391</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P INTL QULTY</titleOfClass>
    <cusip>46138E214</cusip>
    <value>233690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6607</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P INTL MOMNT</titleOfClass>
    <cusip>46138E222</cusip>
    <value>8505903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>155104</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P INTL LOW</titleOfClass>
    <cusip>46138E230</cusip>
    <value>402729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11689</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P GBL WATER</titleOfClass>
    <cusip>46138E263</cusip>
    <value>1992243</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31158</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31158</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P EMRNG MMTM</titleOfClass>
    <cusip>46138E289</cusip>
    <value>219907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13010</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P 500 MOMNTM</titleOfClass>
    <cusip>46138E339</cusip>
    <value>27253941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>243100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>243100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P 500 MOMNTM</titleOfClass>
    <cusip>46138E339</cusip>
    <value>9080910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>81000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P500 LOW VOL</titleOfClass>
    <cusip>46138E354</cusip>
    <value>219420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P500 LOW VOL</titleOfClass>
    <cusip>46138E354</cusip>
    <value>1394926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19072</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19072</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P500 HDL VOL</titleOfClass>
    <cusip>46138E362</cusip>
    <value>590359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P500 HDL VOL</titleOfClass>
    <cusip>46138E362</cusip>
    <value>445448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8979</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8979</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P500 HDL VOL</titleOfClass>
    <cusip>46138E362</cusip>
    <value>496100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P 500 HB ETF</titleOfClass>
    <cusip>46138E370</cusip>
    <value>336255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P 500 HB ETF</titleOfClass>
    <cusip>46138E370</cusip>
    <value>12760877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110055</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>110055</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P 500 HB ETF</titleOfClass>
    <cusip>46138E370</cusip>
    <value>347850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>PURBTA MSCI US</titleOfClass>
    <cusip>46138E461</cusip>
    <value>833980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12797</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>PURBTA 0 5 YR</titleOfClass>
    <cusip>46138E495</cusip>
    <value>771896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29518</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>PFD ETF</titleOfClass>
    <cusip>46138E511</cusip>
    <value>4738577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>435531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>435531</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>PFD ETF</titleOfClass>
    <cusip>46138E511</cusip>
    <value>218688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>NATL AMT MUNI</titleOfClass>
    <cusip>46138E537</cusip>
    <value>779022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>NATL AMT MUNI</titleOfClass>
    <cusip>46138E537</cusip>
    <value>1692408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73647</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>NATL AMT MUNI</titleOfClass>
    <cusip>46138E537</cusip>
    <value>489474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>MSCI GBL TIMBR</titleOfClass>
    <cusip>46138E545</cusip>
    <value>571871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>BLOOMBERG FINANC</titleOfClass>
    <cusip>46138E578</cusip>
    <value>461556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6741</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6741</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW PPTY CASUT</titleOfClass>
    <cusip>46138E586</cusip>
    <value>1318555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11082</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11082</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW PREM YIELD</titleOfClass>
    <cusip>46138E594</cusip>
    <value>690457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45187</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45187</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW HIG DV YLD</titleOfClass>
    <cusip>46138E610</cusip>
    <value>880308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW HIG DV YLD</titleOfClass>
    <cusip>46138E610</cusip>
    <value>282927</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22562</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22562</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW HIG DV YLD</titleOfClass>
    <cusip>46138E610</cusip>
    <value>135432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW BK ETF</titleOfClass>
    <cusip>46138E628</cusip>
    <value>8513312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>107600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW BK ETF</titleOfClass>
    <cusip>46138E628</cusip>
    <value>10533720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>133136</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>KBW BK ETF</titleOfClass>
    <cusip>46138E628</cusip>
    <value>9715936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>122800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>INTL BUYBACK</titleOfClass>
    <cusip>46138E644</cusip>
    <value>2097631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37283</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37283</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>GLOBAL WATER</titleOfClass>
    <cusip>46138E651</cusip>
    <value>272808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6283</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6283</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>GLOBAL EX US HGH</titleOfClass>
    <cusip>46138E669</cusip>
    <value>225874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11637</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>BLOOMBERG ENHANC</titleOfClass>
    <cusip>46138E719</cusip>
    <value>3053747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>170220</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>RAFI EMRGNG MRKT</titleOfClass>
    <cusip>46138E727</cusip>
    <value>1537610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57139</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>57139</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>RAFI DVLPD MRKTS</titleOfClass>
    <cusip>46138E735</cusip>
    <value>7706892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177701</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>177701</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>CHINA TECHNLGY</titleOfClass>
    <cusip>46138E800</cusip>
    <value>676494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>DORSEY WRGT SMLC</titleOfClass>
    <cusip>46138E842</cusip>
    <value>683697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>DORSEY WRGT EMRG</titleOfClass>
    <cusip>46138E867</cusip>
    <value>719469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27640</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>DORSEY WRGT DVLP</titleOfClass>
    <cusip>46138E875</cusip>
    <value>748445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15114</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMLCAP QTY</titleOfClass>
    <cusip>46138G300</cusip>
    <value>428219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10157</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10157</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMALCP 600 R</titleOfClass>
    <cusip>46138G441</cusip>
    <value>312883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11446</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>NASDAQ FREE CASH</titleOfClass>
    <cusip>46138G466</cusip>
    <value>497747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMALLCAP ENE</titleOfClass>
    <cusip>46138G474</cusip>
    <value>774336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P SMALLCAP ENE</titleOfClass>
    <cusip>46138G474</cusip>
    <value>984747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16151</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>SR LN ETF</titleOfClass>
    <cusip>46138G508</cusip>
    <value>1743014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>85400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>SR LN ETF</titleOfClass>
    <cusip>46138G508</cusip>
    <value>914368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>ESG NASDAQ 100</titleOfClass>
    <cusip>46138G540</cusip>
    <value>1306433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33026</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33026</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>500 QVM MULTI</titleOfClass>
    <cusip>46138G581</cusip>
    <value>755544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19745</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19745</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>INVESCO PHLX SM</titleOfClass>
    <cusip>46138G615</cusip>
    <value>1319370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>INVESCO PHLX SM</titleOfClass>
    <cusip>46138G615</cusip>
    <value>235039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3937</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3937</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>INVESCO PHLX SM</titleOfClass>
    <cusip>46138G615</cusip>
    <value>734310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>NASDAQ 100 ETF</titleOfClass>
    <cusip>46138G649</cusip>
    <value>84759054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>356700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>356700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>NASDAQ 100 ETF</titleOfClass>
    <cusip>46138G649</cusip>
    <value>11429522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>S&amp;P MDCP 400 REV</titleOfClass>
    <cusip>46138G672</cusip>
    <value>810218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6317</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>SOLAR ETF</titleOfClass>
    <cusip>46138G706</cusip>
    <value>10746459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>192900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>SOLAR ETF</titleOfClass>
    <cusip>46138G706</cusip>
    <value>5175459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>92900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRADED FD TR II</nameOfIssuer>
    <titleOfClass>TAXABLE MUN BD</titleOfClass>
    <cusip>46138G805</cusip>
    <value>837270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31056</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31056</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULETSHS 2029 HG</titleOfClass>
    <cusip>46138J395</cusip>
    <value>318470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15140</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULETSHS 2031 CP</titleOfClass>
    <cusip>46138J429</cusip>
    <value>1237101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75158</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75158</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>INTL DEV DYNAMIC</titleOfClass>
    <cusip>46138J437</cusip>
    <value>995426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31461</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>INVSCO 28 HYCORP</titleOfClass>
    <cusip>46138J452</cusip>
    <value>1479221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68214</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>68214</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>INVSCO 30 CORP</titleOfClass>
    <cusip>46138J460</cusip>
    <value>6065873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>362811</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>362811</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULSHS 2026 MUNI</titleOfClass>
    <cusip>46138J510</cusip>
    <value>311661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13192</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULETSHS 2029</titleOfClass>
    <cusip>46138J577</cusip>
    <value>3843221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205956</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>205956</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULETSHS 2027</titleOfClass>
    <cusip>46138J585</cusip>
    <value>1644320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73522</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73522</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>INVSCO BLSH 26</titleOfClass>
    <cusip>46138J635</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>27693</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>27693</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>188677</sshPrnamt>
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    <votingAuthority>
      <Sole>188677</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>RAFI STRATGIC US</titleOfClass>
    <cusip>46138J742</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>10473</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>10473</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BLOOMBERG PRICIN</titleOfClass>
    <cusip>46138J775</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>3098</sshPrnamt>
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      <Sole>3098</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULSHS 2027 CB</titleOfClass>
    <cusip>46138J783</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>194045</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
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    <cusip>46138J791</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>139466</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>INVT GRD DEFSV</titleOfClass>
    <cusip>46139W502</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>24113</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>BULLETSHARES</titleOfClass>
    <cusip>46139W759</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>153760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>153760</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
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    <cusip>46139W783</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>116822</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>116822</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
    <titleOfClass>INVESCO BULLETSH</titleOfClass>
    <cusip>46139W825</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>74391</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>74391</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
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    <cusip>46139W841</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>13809</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCH TRD SLF IDX FD</nameOfIssuer>
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    <cusip>46139W858</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>66243</sshPrnamt>
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    <votingAuthority>
      <Sole>66243</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>AEROSPACE DEFN</titleOfClass>
    <cusip>46137V100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>29159</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29159</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>AEROSPACE DEFN</titleOfClass>
    <cusip>46137V100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
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    <votingAuthority>
      <Sole>4600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V118</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
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    <putCall>Put</putCall>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>53638</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53638</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V159</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>1950</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V167</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>7975</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>7975</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V175</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>7582</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>7582</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>5260</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5260</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V233</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V233</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>53775</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53775</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>17263</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>17263</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>15400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>5548</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>5548</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>9134</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>9134</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V332</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>23166</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>23166</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>476100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>476100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>967000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>967000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>27730</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>27730</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <cusip>46137V381</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>5003</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>5003</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>39460</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>39460</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>7662</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>7662</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>S&amp;P 500 GARP ETF</titleOfClass>
    <cusip>46137V431</cusip>
    <value>4371202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40617</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>S&amp;P MDCP VLU MNT</titleOfClass>
    <cusip>46137V456</cusip>
    <value>512690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7873</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>S&amp;P MDCP MOMNTUM</titleOfClass>
    <cusip>46137V464</cusip>
    <value>986136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>S&amp;P MDCP QUALITY</titleOfClass>
    <cusip>46137V472</cusip>
    <value>909656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>S&amp;P SMCP VLU MNT</titleOfClass>
    <cusip>46137V480</cusip>
    <value>847075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14057</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DIVID ACHIEVEV</titleOfClass>
    <cusip>46137V506</cusip>
    <value>444755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8705</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>BLOOMBERG ANALYS</titleOfClass>
    <cusip>46137V522</cusip>
    <value>383128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5258</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5258</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>INTL DIVI ACHI</titleOfClass>
    <cusip>46137V548</cusip>
    <value>662800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29794</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29794</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>HIG YLD EQ DIV</titleOfClass>
    <cusip>46137V563</cusip>
    <value>231323</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>HIG YLD EQ DIV</titleOfClass>
    <cusip>46137V563</cusip>
    <value>237749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>RAFI US 1000 ETF</titleOfClass>
    <cusip>46137V613</cusip>
    <value>2201780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46324</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46324</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>AI AND NEXT GEN</titleOfClass>
    <cusip>46137V639</cusip>
    <value>1171093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20169</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20169</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>SEMICONDUCTORS</titleOfClass>
    <cusip>46137V647</cusip>
    <value>1070364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11341</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11341</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>NEXT GEN MEDIA</titleOfClass>
    <cusip>46137V696</cusip>
    <value>1761131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34515</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>LEISURE AND ENTE</titleOfClass>
    <cusip>46137V720</cusip>
    <value>844827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14571</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>LARGE CAP GROWTH</titleOfClass>
    <cusip>46137V746</cusip>
    <value>289639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>BIOTECHNOLOGY</titleOfClass>
    <cusip>46137V787</cusip>
    <value>678652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8571</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DORSEY WRGT UTIL</titleOfClass>
    <cusip>46137V795</cusip>
    <value>221611</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4714</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4714</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DORSEY WRGT TECH</titleOfClass>
    <cusip>46137V811</cusip>
    <value>250343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DORSEY WRIGHT MO</titleOfClass>
    <cusip>46137V837</cusip>
    <value>447237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3704</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DORSEY WRIGHT HE</titleOfClass>
    <cusip>46137V852</cusip>
    <value>408363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8334</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DORSEY WRGT ENRG</titleOfClass>
    <cusip>46137V878</cusip>
    <value>526436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8840</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8840</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>DORSEY WRGT CSMR</titleOfClass>
    <cusip>46137V886</cusip>
    <value>376242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3466</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3466</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>ZACKS MID CAP</titleOfClass>
    <cusip>46137Y401</cusip>
    <value>641729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5826</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO EXCHANGE TRADED FD T</nameOfIssuer>
    <titleOfClass>ZACKS MULT AST</titleOfClass>
    <cusip>46137Y500</cusip>
    <value>231862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8565</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8565</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO INDIA EXCHANGE-TRADE</nameOfIssuer>
    <titleOfClass>INDIA ETF</titleOfClass>
    <cusip>46137R109</cusip>
    <value>1626079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>79205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>2991775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123169</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123169</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>3789240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>156000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>4501981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>185343</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>1855756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>76400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO MORTGAGE CAPITAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46131B704</cusip>
    <value>656096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>81200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO MORTGAGE CAPITAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46131B704</cusip>
    <value>123220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO MORTGAGE CAPITAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46131B704</cusip>
    <value>237552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO MUNI INCOME OPP TRST</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46132X101</cusip>
    <value>77247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12581</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12581</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QQQ TR</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>46090E103</cusip>
    <value>95234700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QQQ TR</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>46090E103</cusip>
    <value>14429500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QQQ TR</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>46090E103</cusip>
    <value>11157639734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19331300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19331300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QQQ TR</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>46090E103</cusip>
    <value>34263714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59364</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>59364</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QQQ TR</nameOfIssuer>
    <titleOfClass>UNIT SER 1</titleOfClass>
    <cusip>46090E103</cusip>
    <value>20542586534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35591300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35591300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QUALITY MUN INCOME T</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46133G107</cusip>
    <value>99654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10359</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO SR INCOME TR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46131H107</cusip>
    <value>41731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTAR HOLDING CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46134L105</cusip>
    <value>483661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17736</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTAR HOLDING CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46134L105</cusip>
    <value>872804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32006</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTCORP CR MGMT BDC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46090R104</cusip>
    <value>51840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>FPA GBL EQTY ETF</titleOfClass>
    <cusip>30254T577</cusip>
    <value>3051075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84098</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>84098</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG WD</titleOfClass>
    <cusip>46092D129</cusip>
    <value>546720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG WD</titleOfClass>
    <cusip>46092D129</cusip>
    <value>687262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25267</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG WD</titleOfClass>
    <cusip>46092D129</cusip>
    <value>837760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG ON</titleOfClass>
    <cusip>46092D145</cusip>
    <value>126948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG ON</titleOfClass>
    <cusip>46092D145</cusip>
    <value>153360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG QB</titleOfClass>
    <cusip>46092D202</cusip>
    <value>900504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>113700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG QB</titleOfClass>
    <cusip>46092D202</cusip>
    <value>236016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X SHORT</titleOfClass>
    <cusip>46092D210</cusip>
    <value>767295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>25500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X SHORT</titleOfClass>
    <cusip>46092D210</cusip>
    <value>260068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8643</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG US</titleOfClass>
    <cusip>46092D269</cusip>
    <value>155562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11884</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG N</titleOfClass>
    <cusip>46092D327</cusip>
    <value>69987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG CL</titleOfClass>
    <cusip>46092D368</cusip>
    <value>282438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG CL</titleOfClass>
    <cusip>46092D368</cusip>
    <value>221442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG BE</titleOfClass>
    <cusip>46092D376</cusip>
    <value>2267560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>136600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG BE</titleOfClass>
    <cusip>46092D376</cusip>
    <value>1580320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>95200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X SHORT</titleOfClass>
    <cusip>46092D384</cusip>
    <value>3029291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>123192</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X SHORT</titleOfClass>
    <cusip>46092D384</cusip>
    <value>1219885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49609</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>49609</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG WU</titleOfClass>
    <cusip>46092D459</cusip>
    <value>217968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG WU</titleOfClass>
    <cusip>46092D459</cusip>
    <value>337583</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17656</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17656</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG CL</titleOfClass>
    <cusip>46092D590</cusip>
    <value>104904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG CL</titleOfClass>
    <cusip>46092D590</cusip>
    <value>252108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG NV</titleOfClass>
    <cusip>46092D632</cusip>
    <value>856660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG NV</titleOfClass>
    <cusip>46092D632</cusip>
    <value>704740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG AP</titleOfClass>
    <cusip>46092D665</cusip>
    <value>1552060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>142000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG AP</titleOfClass>
    <cusip>46092D665</cusip>
    <value>454196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41555</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG AP</titleOfClass>
    <cusip>46092D665</cusip>
    <value>1421993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>159000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46092D673</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>49181</sshPrnamt>
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    <otherManager>1</otherManager>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46092D673</cusip>
    <value>5902260</value>
    <shrsOrPrnAmt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46092D681</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46092D681</cusip>
    <value>354198</value>
    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG SP</titleOfClass>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG SP</titleOfClass>
    <cusip>46092D756</cusip>
    <value>680014</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG SP</titleOfClass>
    <cusip>46092D756</cusip>
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    <shrsOrPrnAmt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>ASTORIA REAL</titleOfClass>
    <cusip>46141T117</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>26687</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46143U518</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
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    <putCall>Call</putCall>
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    <otherManager>1</otherManager>
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      <Sole>23300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46143U518</cusip>
    <value>523786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46143U534</cusip>
    <value>178314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46143U542</cusip>
    <value>9573200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>263000</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>263000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46143U542</cusip>
    <value>2443350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67125</sshPrnamt>
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    <otherManager>1</otherManager>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46143U542</cusip>
    <value>11513320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>316300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 1.5X SHORT</titleOfClass>
    <cusip>46144X115</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 1.5X SHORT</titleOfClass>
    <cusip>46144X115</cusip>
    <value>1535999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51871</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 1X SHORT</titleOfClass>
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    <shrsOrPrnAmt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 1X SHORT</titleOfClass>
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    <shrsOrPrnAmt>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>AXS ESOTERICA NE</titleOfClass>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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    <votingAuthority>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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    <votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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    <votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
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  <infoTable>
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    <titleOfClass>TRADR 2X LONG</titleOfClass>
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  <infoTable>
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    <titleOfClass>TRADR 2X LONG</titleOfClass>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46152A544</cusip>
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    <shrsOrPrnAmt>
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    <otherManager>1</otherManager>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
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    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG CO</titleOfClass>
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    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG CO</titleOfClass>
    <cusip>46152A569</cusip>
    <value>420672</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG LI</titleOfClass>
    <cusip>46152A650</cusip>
    <value>2156462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG LI</titleOfClass>
    <cusip>46152A650</cusip>
    <value>4874716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>166600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG SN</titleOfClass>
    <cusip>46152A668</cusip>
    <value>8187216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>224800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG SN</titleOfClass>
    <cusip>46152A668</cusip>
    <value>4313293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118432</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>118432</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG SN</titleOfClass>
    <cusip>46152A668</cusip>
    <value>15616896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>428800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>428800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46152A718</cusip>
    <value>455886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG Q</titleOfClass>
    <cusip>46152A734</cusip>
    <value>94650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12620</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46152A742</cusip>
    <value>4202140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>218520</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVESTMENT MANAGERS SER TR I</nameOfIssuer>
    <titleOfClass>TRADR 2X LONG</titleOfClass>
    <cusip>46152A742</cusip>
    <value>3013726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156720</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>156720</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVITATION HOMES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46187W107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>7248819</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7248819</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVITATION HOMES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46187W107</cusip>
    <value>1530760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>61600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVITATION HOMES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46187W107</cusip>
    <value>82626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3325</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVITATION HOMES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46187W107</cusip>
    <value>2895025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>116500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVIVYD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00534A102</cusip>
    <value>159302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122540</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVIVYD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00534A102</cusip>
    <value>100750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>77500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVIVYD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00534A102</cusip>
    <value>1907146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1467035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1467035</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INVIVYD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00534A102</cusip>
    <value>17290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IONIS PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
    <value>43362147</value>
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      <sshPrnamt>577469</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>577469</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IONIS PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>NOTE 1.750% 6/1</titleOfClass>
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      <sshPrnamt>58000000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>58000000</None>
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  <infoTable>
    <nameOfIssuer>IONIS PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
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      <sshPrnamt>115300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>115300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IONIS PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
    <value>27412731</value>
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      <sshPrnamt>365065</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>365065</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>IONIS PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462222100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>248300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>248300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IONQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46222L108</cusip>
    <value>657324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IONQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46222L108</cusip>
    <value>1539522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IONQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46222L108</cusip>
    <value>60816885</value>
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      <sshPrnamt>2109500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2109500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>IONQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>32090673</value>
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      <sshPrnamt>1113100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1113100</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IOVANCE BIOTHERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462260100</cusip>
    <value>2664090</value>
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      <sshPrnamt>759000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>759000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IOVANCE BIOTHERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462260100</cusip>
    <value>9165821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2611345</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2611345</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IOVANCE BIOTHERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462260100</cusip>
    <value>1727622</value>
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      <sshPrnamt>492200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>492200</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IP STRATEGY HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42727R203</cusip>
    <value>66720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>252728</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>252728</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IPERIONX LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>44916E100</cusip>
    <value>610846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23458</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23458</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IPG PHOTONICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44980X109</cusip>
    <value>13404280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116976</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IPG PHOTONICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44980X109</cusip>
    <value>3002258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IPG PHOTONICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44980X109</cusip>
    <value>7883448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>68797</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IPG PHOTONICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44980X109</cusip>
    <value>343770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6901400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES ETHEREUM TR</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>46438R105</cusip>
    <value>40970921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2588182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>2588182</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES ETHEREUM TR</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>4580700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>4580700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES GOLD TR</nameOfIssuer>
    <titleOfClass>ISHARES NEW</titleOfClass>
    <cusip>464285204</cusip>
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      <sshPrnamt>1718300</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>1718300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES GOLD TR</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1296017</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES GOLD TR</nameOfIssuer>
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    <value>22665936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>257100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
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      <Sole>257100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES GOLD TR</nameOfIssuer>
    <titleOfClass>SHARES REPRESENT</titleOfClass>
    <cusip>46436F103</cusip>
    <value>5943743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127275</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>127275</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>159299</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159299</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI MEXICO ETF</titleOfClass>
    <cusip>464286822</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>4233</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4233</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>2296900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>2296900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>13032</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>13032</Sole>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>43800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>43800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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    <cusip>464286178</cusip>
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      <sshPrnamt>38810</sshPrnamt>
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      <Sole>38810</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>39590</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>39590</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>4557</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>4557</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>28200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>28200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>21546</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>21546</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>41583</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>41583</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>10649</sshPrnamt>
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      <Sole>10649</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>65381</sshPrnamt>
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    <votingAuthority>
      <Sole>65381</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>172461</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>172461</Sole>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>485000</sshPrnamt>
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      <Sole>485000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>85900</sshPrnamt>
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      <Sole>85900</Sole>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>197499</sshPrnamt>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>10292</sshPrnamt>
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      <Sole>10292</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <Sole>4300</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <Sole>45600000</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>43576</sshPrnamt>
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    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <Sole>6939500</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>90709</sshPrnamt>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>33908</sshPrnamt>
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      <Sole>33908</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>595700</sshPrnamt>
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      <Sole>595700</Sole>
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    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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      <sshPrnamt>2591100</sshPrnamt>
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      <Sole>2591100</Sole>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>JP MORGAN EM ETF</titleOfClass>
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    <putCall>Call</putCall>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
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    <value>1513802</value>
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      <sshPrnamt>37103</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>37103</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI TAIWAN ETF</titleOfClass>
    <cusip>46434G772</cusip>
    <value>24268824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>342200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>342200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI MLY ETF NEW</titleOfClass>
    <cusip>46434G814</cusip>
    <value>1869378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI MLY ETF NEW</titleOfClass>
    <cusip>46434G814</cusip>
    <value>377853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI JAPAN ETF</titleOfClass>
    <cusip>46434G822</cusip>
    <value>141065464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1670600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1670600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI JAPAN ETF</titleOfClass>
    <cusip>46434G822</cusip>
    <value>2061434</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24413</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI JAPAN ETF</titleOfClass>
    <cusip>46434G822</cusip>
    <value>20696244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>245100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>245100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI ITALY ETF</titleOfClass>
    <cusip>46434G830</cusip>
    <value>352572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>6600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI GBL ETF NEW</titleOfClass>
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      <sshPrnamt>67400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>67400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI GBL GOLD MN</titleOfClass>
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      <sshPrnamt>21800</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>21800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>EMNG MKTS EQT</titleOfClass>
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      <sshPrnamt>28360</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>28360</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES S&amp;P GSCI COMMODITY-</nameOfIssuer>
    <titleOfClass>UNIT BEN INT</titleOfClass>
    <cusip>46428R107</cusip>
    <value>1335150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES S&amp;P GSCI COMMODITY-</nameOfIssuer>
    <titleOfClass>UNIT BEN INT</titleOfClass>
    <cusip>46428R107</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>73171</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73171</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES S&amp;P GSCI COMMODITY-</nameOfIssuer>
    <titleOfClass>UNIT BEN INT</titleOfClass>
    <cusip>46428R107</cusip>
    <value>1822125</value>
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      <sshPrnamt>56500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES SILVER TR</nameOfIssuer>
    <titleOfClass>ISHARES</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>68</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES SILVER TR</nameOfIssuer>
    <titleOfClass>ISHARES</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>3168121602</value>
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      <sshPrnamt>46494300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46494300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES SILVER TR</nameOfIssuer>
    <titleOfClass>ISHARES</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>152974300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2245000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2245000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES SILVER TR</nameOfIssuer>
    <titleOfClass>ISHARES</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>2019649158</value>
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      <sshPrnamt>29639700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>29639700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES STAKED ETHEREUM TR E</nameOfIssuer>
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      <sshPrnamt>331520</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>331520</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>80775000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2250000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>74807056</value>
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      <sshPrnamt>2083762</sshPrnamt>
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      <Sole>2083762</Sole>
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    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>80775000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2250000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2250000</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P500 ETF</titleOfClass>
    <cusip>464287200</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>4060750</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4060750</Sole>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>295308000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200000</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>9370350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165000</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>210123000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700000</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EAFE ETF</titleOfClass>
    <cusip>464287465</cusip>
    <value>349668000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EXPANDED TECH</titleOfClass>
    <cusip>464287515</cusip>
    <value>952595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
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      <None>0</None>
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  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000 ETF</titleOfClass>
    <cusip>464287655</cusip>
    <value>74400000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000 ETF</titleOfClass>
    <cusip>464287655</cusip>
    <value>322400000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. REAL ES ETF</titleOfClass>
    <cusip>464287739</cusip>
    <value>59100000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>625000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>625000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX HI YD ETF</titleOfClass>
    <cusip>464288513</cusip>
    <value>37125083</value>
    <shrsOrPrnAmt>
      <sshPrnamt>466630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>466630</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 100 ETF</titleOfClass>
    <cusip>464287101</cusip>
    <value>1463122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 100 ETF</titleOfClass>
    <cusip>464287101</cusip>
    <value>6170558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MORNINGSTR US EQ</titleOfClass>
    <cusip>464287127</cusip>
    <value>956739</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10647</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P TTL STK</titleOfClass>
    <cusip>464287150</cusip>
    <value>6551780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>46000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P TTL STK</titleOfClass>
    <cusip>464287150</cusip>
    <value>954281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SELECT DIVID ETF</titleOfClass>
    <cusip>464287168</cusip>
    <value>110120493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>727300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>727300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SELECT DIVID ETF</titleOfClass>
    <cusip>464287168</cusip>
    <value>327954</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2166</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SELECT DIVID ETF</titleOfClass>
    <cusip>464287168</cusip>
    <value>8039871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>TIPS BD ETF</titleOfClass>
    <cusip>464287176</cusip>
    <value>2416884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>TIPS BD ETF</titleOfClass>
    <cusip>464287176</cusip>
    <value>551800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>519616600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14474000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14474000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>5617812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>156485</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>364370640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10149600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10149600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US TRSPRTION</titleOfClass>
    <cusip>464287192</cusip>
    <value>1760560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US TRSPRTION</titleOfClass>
    <cusip>464287192</cusip>
    <value>6331302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>84870</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US TRSPRTION</titleOfClass>
    <cusip>464287192</cusip>
    <value>1245820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P500 ETF</titleOfClass>
    <cusip>464287200</cusip>
    <value>167091118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>255800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>255800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P500 ETF</titleOfClass>
    <cusip>464287200</cusip>
    <value>94258203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>144300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE US AGGBD ET</titleOfClass>
    <cusip>464287226</cusip>
    <value>1012554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE US AGGBD ET</titleOfClass>
    <cusip>464287226</cusip>
    <value>49774077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>501401</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>501401</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE US AGGBD ET</titleOfClass>
    <cusip>464287226</cusip>
    <value>635328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>928891314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16356600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16356600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMG MKT ETF</titleOfClass>
    <cusip>464287234</cusip>
    <value>566593830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9977000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9977000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX INV CP ETF</titleOfClass>
    <cusip>464287242</cusip>
    <value>186187617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1708300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1708300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX INV CP ETF</titleOfClass>
    <cusip>464287242</cusip>
    <value>462324681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4241900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4241900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GBL COMM SVC ETF</titleOfClass>
    <cusip>464287275</cusip>
    <value>1217516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GBL COMM SVC ETF</titleOfClass>
    <cusip>464287275</cusip>
    <value>2328097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20269</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20269</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOBAL TECH ETF</titleOfClass>
    <cusip>464287291</cusip>
    <value>279916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 500 GRWT ETF</titleOfClass>
    <cusip>464287309</cusip>
    <value>3212324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 500 GRWT ETF</titleOfClass>
    <cusip>464287309</cusip>
    <value>429818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOB HLTHCRE ETF</titleOfClass>
    <cusip>464287325</cusip>
    <value>5266957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56307</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56307</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOBAL FINLS ETF</titleOfClass>
    <cusip>464287333</cusip>
    <value>5041080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44220</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOBAL ENERG ETF</titleOfClass>
    <cusip>464287341</cusip>
    <value>13221841</value>
    <shrsOrPrnAmt>
      <sshPrnamt>229506</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>229506</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NORTH AMERN NAT</titleOfClass>
    <cusip>464287374</cusip>
    <value>218213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3467</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>JPX NIKKEI 400</titleOfClass>
    <cusip>464287382</cusip>
    <value>7263414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>79452</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>LATN AMER 40 ETF</titleOfClass>
    <cusip>464287390</cusip>
    <value>1900320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>53500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>LATN AMER 40 ETF</titleOfClass>
    <cusip>464287390</cusip>
    <value>202393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5698</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>LATN AMER 40 ETF</titleOfClass>
    <cusip>464287390</cusip>
    <value>653568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 500 VAL ETF</titleOfClass>
    <cusip>464287408</cusip>
    <value>1224670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 500 VAL ETF</titleOfClass>
    <cusip>464287408</cusip>
    <value>1752545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>2545764547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29366300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29366300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>102469140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1182018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1182018</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>1624067798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18734200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18734200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>7-10 YR TRSY BD</titleOfClass>
    <cusip>464287440</cusip>
    <value>70377456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>737400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>737400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>7-10 YR TRSY BD</titleOfClass>
    <cusip>464287440</cusip>
    <value>327476114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3431225</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3431225</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>7-10 YR TRSY BD</titleOfClass>
    <cusip>464287440</cusip>
    <value>64402912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>674800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>674800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>1 3 YR TREAS BD</titleOfClass>
    <cusip>464287457</cusip>
    <value>3410141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>1 3 YR TREAS BD</titleOfClass>
    <cusip>464287457</cusip>
    <value>1469746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EAFE ETF</titleOfClass>
    <cusip>464287465</cusip>
    <value>278840804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2870800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2870800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EAFE ETF</titleOfClass>
    <cusip>464287465</cusip>
    <value>8577453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88309</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>88309</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EAFE ETF</titleOfClass>
    <cusip>464287465</cusip>
    <value>141926356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1461200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1461200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS MDCP VAL ETF</titleOfClass>
    <cusip>464287473</cusip>
    <value>480942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS MD CP GR ETF</titleOfClass>
    <cusip>464287481</cusip>
    <value>1370884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS MD CP GR ETF</titleOfClass>
    <cusip>464287481</cusip>
    <value>743096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS MID CAP ETF</titleOfClass>
    <cusip>464287499</cusip>
    <value>2625210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS MID CAP ETF</titleOfClass>
    <cusip>464287499</cusip>
    <value>738948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P MCP ETF</titleOfClass>
    <cusip>464287507</cusip>
    <value>9130056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>135200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE S&amp;P MCP ETF</titleOfClass>
    <cusip>464287507</cusip>
    <value>844125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EXPANDED TECH</titleOfClass>
    <cusip>464287515</cusip>
    <value>340956965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4259300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4259300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EXPANDED TECH</titleOfClass>
    <cusip>464287515</cusip>
    <value>4100001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51218</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EXPANDED TECH</titleOfClass>
    <cusip>464287515</cusip>
    <value>335265410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4188200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4188200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHARES SEMICDTR</titleOfClass>
    <cusip>464287523</cusip>
    <value>98269340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>299000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>299000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHARES SEMICDTR</titleOfClass>
    <cusip>464287523</cusip>
    <value>123609026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>376100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>376100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US DIGITAL INFRA</titleOfClass>
    <cusip>464287531</cusip>
    <value>2268630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23199</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EXPND TEC SC ETF</titleOfClass>
    <cusip>464287549</cusip>
    <value>14363412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>121200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EXPND TEC SC ETF</titleOfClass>
    <cusip>464287549</cusip>
    <value>3771107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31821</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHARES BIOTECH</titleOfClass>
    <cusip>464287556</cusip>
    <value>26408140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>156400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHARES BIOTECH</titleOfClass>
    <cusip>464287556</cusip>
    <value>3715544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>22005</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHARES BIOTECH</titleOfClass>
    <cusip>464287556</cusip>
    <value>15449775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>91500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SELECT US REIT</titleOfClass>
    <cusip>464287564</cusip>
    <value>1237676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19998</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOBAL 100 ETF</titleOfClass>
    <cusip>464287572</cusip>
    <value>3531235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29191</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29191</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US CONSUM DISCRE</titleOfClass>
    <cusip>464287580</cusip>
    <value>3997272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41243</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>41243</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS 1000 VAL ETF</titleOfClass>
    <cusip>464287598</cusip>
    <value>10939904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS 1000 VAL ETF</titleOfClass>
    <cusip>464287598</cusip>
    <value>3269151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P MC 400GR ETF</titleOfClass>
    <cusip>464287606</cusip>
    <value>241488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS 1000 GRW ETF</titleOfClass>
    <cusip>464287614</cusip>
    <value>35817600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>84000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS 1000 GRW ETF</titleOfClass>
    <cusip>464287614</cusip>
    <value>3624400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>DOW JONES US ETF</titleOfClass>
    <cusip>464287846</cusip>
    <value>380280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>DOW JONES US ETF</titleOfClass>
    <cusip>464287846</cusip>
    <value>2057632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12986</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EUROPE ETF</titleOfClass>
    <cusip>464287861</cusip>
    <value>461992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EUROPE ETF</titleOfClass>
    <cusip>464287861</cusip>
    <value>846057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12453</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SP SMCP600VL ETF</titleOfClass>
    <cusip>464287879</cusip>
    <value>556715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SP SMCP600VL ETF</titleOfClass>
    <cusip>464287879</cusip>
    <value>289610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2445</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2445</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P SML 600 GWT</titleOfClass>
    <cusip>464287887</cusip>
    <value>419659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MORNINGSTAR VALU</titleOfClass>
    <cusip>464288109</cusip>
    <value>974058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10458</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10458</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>3YRTB ETF</titleOfClass>
    <cusip>464288125</cusip>
    <value>1173817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15823</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15823</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>SHRT NAT MUN ETF</titleOfClass>
    <cusip>464288158</cusip>
    <value>3107457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29178</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>AGENCY BOND ETF</titleOfClass>
    <cusip>464288166</cusip>
    <value>1091615</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GL TIMB FORE ETF</titleOfClass>
    <cusip>464288174</cusip>
    <value>439888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GL TIMB FORE ETF</titleOfClass>
    <cusip>464288174</cusip>
    <value>964631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13596</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI AC ASIA ETF</titleOfClass>
    <cusip>464288182</cusip>
    <value>240725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI AC ASIA ETF</titleOfClass>
    <cusip>464288182</cusip>
    <value>12163353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>126320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GL CLEAN ENE ETF</titleOfClass>
    <cusip>464288224</cusip>
    <value>4420693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>241700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>241700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GL CLEAN ENE ETF</titleOfClass>
    <cusip>464288224</cusip>
    <value>235941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI ACWI EX US</titleOfClass>
    <cusip>464288240</cusip>
    <value>2078133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30351</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30351</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI ACWI EX US</titleOfClass>
    <cusip>464288240</cusip>
    <value>451902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI ACWI ETF</titleOfClass>
    <cusip>464288257</cusip>
    <value>1134634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI ACWI ETF</titleOfClass>
    <cusip>464288257</cusip>
    <value>9807942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70882</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI ACWI ETF</titleOfClass>
    <cusip>464288257</cusip>
    <value>20022139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>144700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI KOKUSAI ETF</titleOfClass>
    <cusip>464288265</cusip>
    <value>728360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5466</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5466</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EAFE SML CP ETF</titleOfClass>
    <cusip>464288273</cusip>
    <value>22554401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>287647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>287647</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>JPMORGAN USD EMG</titleOfClass>
    <cusip>464288281</cusip>
    <value>619938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>JPMORGAN USD EMG</titleOfClass>
    <cusip>464288281</cusip>
    <value>3415952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36367</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>JPMORGAN USD EMG</titleOfClass>
    <cusip>464288281</cusip>
    <value>845370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NEW YORK MUN ETF</titleOfClass>
    <cusip>464288323</cusip>
    <value>2054310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38673</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38673</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CALIF MUN BD ETF</titleOfClass>
    <cusip>464288356</cusip>
    <value>2317670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40761</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NATIONAL MUN ETF</titleOfClass>
    <cusip>464288414</cusip>
    <value>20731095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>195300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NATIONAL MUN ETF</titleOfClass>
    <cusip>464288414</cusip>
    <value>33723855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>317700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>317700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NATIONAL MUN ETF</titleOfClass>
    <cusip>464288414</cusip>
    <value>17535980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>165200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ASIA 50 ETF</titleOfClass>
    <cusip>464288430</cusip>
    <value>254760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ASIA 50 ETF</titleOfClass>
    <cusip>464288430</cusip>
    <value>4137833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38981</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38981</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>INTL SEL DIV ETF</titleOfClass>
    <cusip>464288448</cusip>
    <value>13804889</value>
    <shrsOrPrnAmt>
      <sshPrnamt>324363</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>324363</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>INTL SEL DIV ETF</titleOfClass>
    <cusip>464288448</cusip>
    <value>1425760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>INTL DEV RE ETF</titleOfClass>
    <cusip>464288489</cusip>
    <value>540978</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24194</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MRGSTR SM CP ETF</titleOfClass>
    <cusip>464288505</cusip>
    <value>2018571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31012</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31012</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX HI YD ETF</titleOfClass>
    <cusip>464288513</cusip>
    <value>820621620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10314500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10314500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX HI YD ETF</titleOfClass>
    <cusip>464288513</cusip>
    <value>56189727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>706256</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>706256</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBOXX HI YD ETF</titleOfClass>
    <cusip>464288513</cusip>
    <value>3474894384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43676400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>43676400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CRE U S REIT ETF</titleOfClass>
    <cusip>464288521</cusip>
    <value>777224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13131</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13131</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MBS ETF</titleOfClass>
    <cusip>464288588</cusip>
    <value>958995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MBS ETF</titleOfClass>
    <cusip>464288588</cusip>
    <value>12110398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>127545</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MBS ETF</titleOfClass>
    <cusip>464288588</cusip>
    <value>427275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>INTRM GOV CR ETF</titleOfClass>
    <cusip>464288612</cusip>
    <value>13803219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129389</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>129389</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>USD INV GRDE ETF</titleOfClass>
    <cusip>464288620</cusip>
    <value>2665651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52033</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHS 5-10YR INVT</titleOfClass>
    <cusip>464288638</cusip>
    <value>239490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>ISHS 1-5YR INVS</titleOfClass>
    <cusip>464288646</cusip>
    <value>887528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16886</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>10-20 YR TRS ETF</titleOfClass>
    <cusip>464288653</cusip>
    <value>4230240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>42000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>10-20 YR TRS ETF</titleOfClass>
    <cusip>464288653</cusip>
    <value>423024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>3 7 YR TREAS BD</titleOfClass>
    <cusip>464288661</cusip>
    <value>7827600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>3 7 YR TREAS BD</titleOfClass>
    <cusip>464288661</cusip>
    <value>30408091</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256392</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>256392</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>3 7 YR TREAS BD</titleOfClass>
    <cusip>464288661</cusip>
    <value>213480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>TRUST ISHARE 0-1</titleOfClass>
    <cusip>464288679</cusip>
    <value>7418760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>67205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>PFD AND INCM SEC</titleOfClass>
    <cusip>464288687</cusip>
    <value>1355304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>PFD AND INCM SEC</titleOfClass>
    <cusip>464288687</cusip>
    <value>2225488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOBAL MATER ETF</titleOfClass>
    <cusip>464288695</cusip>
    <value>451541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4251</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOB UTILITS ETF</titleOfClass>
    <cusip>464288711</cusip>
    <value>379896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLOB INDSTRL ETF</titleOfClass>
    <cusip>464288729</cusip>
    <value>13270386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73313</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLB CNSM STP ETF</titleOfClass>
    <cusip>464288737</cusip>
    <value>2999636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44764</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>GLB CNS DISC ETF</titleOfClass>
    <cusip>464288745</cusip>
    <value>2304708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12361</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US HOME CONS ETF</titleOfClass>
    <cusip>464288752</cusip>
    <value>31783050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>351000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>351000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US HOME CONS ETF</titleOfClass>
    <cusip>464288752</cusip>
    <value>35316583</value>
    <shrsOrPrnAmt>
      <sshPrnamt>390023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>390023</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US HOME CONS ETF</titleOfClass>
    <cusip>464288752</cusip>
    <value>26983900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>298000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>298000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US AER DEF ETF</titleOfClass>
    <cusip>464288760</cusip>
    <value>54687500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US AER DEF ETF</titleOfClass>
    <cusip>464288760</cusip>
    <value>16371688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74842</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>74842</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US AER DEF ETF</titleOfClass>
    <cusip>464288760</cusip>
    <value>57684375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>263700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>263700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US REGNL BKS ETF</titleOfClass>
    <cusip>464288778</cusip>
    <value>323040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US REGNL BKS ETF</titleOfClass>
    <cusip>464288778</cusip>
    <value>1668179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30984</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30984</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US REGNL BKS ETF</titleOfClass>
    <cusip>464288778</cusip>
    <value>1448296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. INSRNCE ETF</titleOfClass>
    <cusip>464288786</cusip>
    <value>295067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. INSRNCE ETF</titleOfClass>
    <cusip>464288786</cusip>
    <value>1820948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14194</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. INSRNCE ETF</titleOfClass>
    <cusip>464288786</cusip>
    <value>218093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US BR DEL SE ETF</titleOfClass>
    <cusip>464288794</cusip>
    <value>886572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US BR DEL SE ETF</titleOfClass>
    <cusip>464288794</cusip>
    <value>1209514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7367</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US BR DEL SE ETF</titleOfClass>
    <cusip>464288794</cusip>
    <value>705974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. MED DVC ETF</titleOfClass>
    <cusip>464288810</cusip>
    <value>2134000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. MED DVC ETF</titleOfClass>
    <cusip>464288810</cusip>
    <value>1765885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US HLTHCR PR ETF</titleOfClass>
    <cusip>464288828</cusip>
    <value>619380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US HLTHCR PR ETF</titleOfClass>
    <cusip>464288828</cusip>
    <value>1327022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31709</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US HLTHCR PR ETF</titleOfClass>
    <cusip>464288828</cusip>
    <value>648675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>U.S. PHARMA ETF</titleOfClass>
    <cusip>464288836</cusip>
    <value>1137762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13126</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL EQ&amp;SV ETF</titleOfClass>
    <cusip>464288844</cusip>
    <value>1320120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL EQ&amp;SV ETF</titleOfClass>
    <cusip>464288844</cusip>
    <value>1150299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39734</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL EQ&amp;SV ETF</titleOfClass>
    <cusip>464288844</cusip>
    <value>289500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL GS EX ETF</titleOfClass>
    <cusip>464288851</cusip>
    <value>1273980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL GS EX ETF</titleOfClass>
    <cusip>464288851</cusip>
    <value>1992780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15955</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15955</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>US OIL GS EX ETF</titleOfClass>
    <cusip>464288851</cusip>
    <value>474620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MICRO-CAP ETF</titleOfClass>
    <cusip>464288869</cusip>
    <value>4692534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MICRO-CAP ETF</titleOfClass>
    <cusip>464288869</cusip>
    <value>5756973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36069</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MICRO-CAP ETF</titleOfClass>
    <cusip>464288869</cusip>
    <value>223454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EAFE VALUE ETF</titleOfClass>
    <cusip>464288877</cusip>
    <value>106208975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1428500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1428500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>EAFE VALUE ETF</titleOfClass>
    <cusip>464288877</cusip>
    <value>23673486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>318406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>318406</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>NEW ZEALAND ETF</titleOfClass>
    <cusip>464289123</cusip>
    <value>619440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14525</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>BRAZIL SM-CP ETF</titleOfClass>
    <cusip>464289131</cusip>
    <value>247327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>BRAZIL SM-CP ETF</titleOfClass>
    <cusip>464289131</cusip>
    <value>2753816</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>185943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EURO FL ETF</titleOfClass>
    <cusip>464289180</cusip>
    <value>435625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EURO FL ETF</titleOfClass>
    <cusip>464289180</cusip>
    <value>320620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS TP200 VL ETF</titleOfClass>
    <cusip>464289420</cusip>
    <value>425448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4591</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS TP200 GR ETF</titleOfClass>
    <cusip>464289438</cusip>
    <value>771404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS TP200 GR ETF</titleOfClass>
    <cusip>464289438</cusip>
    <value>1194432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS TOP 200 ETF</titleOfClass>
    <cusip>464289446</cusip>
    <value>8377785</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52205</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE LT USDB ETF</titleOfClass>
    <cusip>464289479</cusip>
    <value>1905567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>38905</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>10+ YR INVST GRD</titleOfClass>
    <cusip>464289511</cusip>
    <value>1181194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>10+ YR INVST GRD</titleOfClass>
    <cusip>464289511</cusip>
    <value>694820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>INDIA 50 ETF</titleOfClass>
    <cusip>464289529</cusip>
    <value>1867388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44209</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44209</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI PERU AND GL</titleOfClass>
    <cusip>464289842</cusip>
    <value>5331622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>66059</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CORE 80/20 AGGRE</titleOfClass>
    <cusip>464289859</cusip>
    <value>1044270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11801</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <titleOfClass>CORE 30/70 CONSE</titleOfClass>
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  <infoTable>
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    <titleOfClass>US TREAS BD ETF</titleOfClass>
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  <infoTable>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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  <infoTable>
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    <titleOfClass>MSCI CHINA ETF</titleOfClass>
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    <titleOfClass>MSCI CHINA ETF</titleOfClass>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI USA QLT FCT</titleOfClass>
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    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI USA QLT FCT</titleOfClass>
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    <titleOfClass>MSCI USA MMENTM</titleOfClass>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI USA MMENTM</titleOfClass>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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      <sshPrnamt>29694</sshPrnamt>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI INTL MOMENT</titleOfClass>
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      <Sole>243552</Sole>
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    <titleOfClass>MSCI INTL QUALTY</titleOfClass>
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  <infoTable>
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    <titleOfClass>ESG ADVANCED UNI</titleOfClass>
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  <infoTable>
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    <titleOfClass>ESG AWARE 80/20</titleOfClass>
    <cusip>46436E668</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
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    <titleOfClass>ESG AWARE 60/40</titleOfClass>
    <cusip>46436E676</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
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    <titleOfClass>ESG AWARE 40/60</titleOfClass>
    <cusip>46436E684</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
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    <titleOfClass>0-3 MNTH TREASRY</titleOfClass>
    <cusip>46436E718</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>0-3 MNTH TREASRY</titleOfClass>
    <cusip>46436E718</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>0-3 MNTH TREASRY</titleOfClass>
    <cusip>46436E718</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <cusip>46436E726</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
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    <cusip>46436E825</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS 28 TRM TS</titleOfClass>
    <cusip>46436E833</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS 27 TRM TS</titleOfClass>
    <cusip>46436E841</cusip>
    <value>326155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14541</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS 26 TRM TS</titleOfClass>
    <cusip>46436E858</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>19861</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMERGING MA</titleOfClass>
    <cusip>46438G109</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS OCT 2036</titleOfClass>
    <cusip>46438G125</cusip>
    <value>1064131</value>
    <shrsOrPrnAmt>
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      <Sole>42421</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS DEC 2036</titleOfClass>
    <cusip>46438G158</cusip>
    <value>798465</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>MSCI EMERGING MA</titleOfClass>
    <cusip>46438G208</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>24218</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>0-1 YEAR TIPS BO</titleOfClass>
    <cusip>46438G257</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>13685</sshPrnamt>
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      <Sole>13685</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>LARGE CAP 10 TA</titleOfClass>
    <cusip>46438G299</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>S&amp;P 500 3 CAPPED</titleOfClass>
    <cusip>46438G349</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>35638</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS DEC 2035</titleOfClass>
    <cusip>46438G372</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS OCT 2035</titleOfClass>
    <cusip>46438G380</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS DEC 2045</titleOfClass>
    <cusip>46438G414</cusip>
    <value>737361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30096</sshPrnamt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS DEC 2035</titleOfClass>
    <cusip>46438G422</cusip>
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    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>LARGE CAP MAX BU</titleOfClass>
    <cusip>46438G471</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>29567</sshPrnamt>
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      <None>0</None>
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    <titleOfClass>MSCI GLOBAL QUAL</titleOfClass>
    <cusip>46438G497</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>24306</sshPrnamt>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>IBONDS OCT 2026</titleOfClass>
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    <value>981080</value>
    <shrsOrPrnAmt>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>IBONDS 1-5 YR TI</titleOfClass>
    <cusip>46438G513</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
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    <titleOfClass>IBONDS 1-5 YR TR</titleOfClass>
    <cusip>46438G521</cusip>
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    <shrsOrPrnAmt>
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  <infoTable>
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    <titleOfClass>IBONDS 1-5 YR CO</titleOfClass>
    <cusip>46438G539</cusip>
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    <shrsOrPrnAmt>
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    <titleOfClass>US MANUFACTURING</titleOfClass>
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    <shrsOrPrnAmt>
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    <titleOfClass>LARGE CAP MAX BU</titleOfClass>
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    <shrsOrPrnAmt>
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    <shrsOrPrnAmt>
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    <shrsOrPrnAmt>
      <sshPrnamt>12898</sshPrnamt>
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    <shrsOrPrnAmt>
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    <titleOfClass>PARIS ALIGNED CL</titleOfClass>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>37532</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>37532</Sole>
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      <None>0</None>
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    <nameOfIssuer>ISHARES U S ETF TR</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>37659</sshPrnamt>
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      <None>0</None>
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      <Sole>50471</Sole>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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    <otherManager>1</otherManager>
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      <Sole>898652</Sole>
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      <None>0</None>
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      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>0</Shared>
      <None>0</None>
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      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>JANUS DETROIT STR TR</nameOfIssuer>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30997</Sole>
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      <None>0</None>
    </votingAuthority>
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    <value>255130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9952</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>9952</Sole>
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      <None>0</None>
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      <sshPrnamt>18152</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>18152</Sole>
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      <None>0</None>
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      <sshPrnamt>9412</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>9412</Sole>
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      <None>0</None>
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      <sshPrnamt>7932</sshPrnamt>
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      <Sole>7932</Sole>
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      <None>0</None>
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      <sshPrnamt>38022</sshPrnamt>
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    <votingAuthority>
      <Sole>38022</Sole>
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      <None>0</None>
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    <nameOfIssuer>JANUS DETROIT STR TR</nameOfIssuer>
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      <sshPrnamt>18000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18000</Sole>
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      <None>0</None>
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      <sshPrnamt>48500</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>48500</Sole>
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      <None>0</None>
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      <sshPrnamt>208416</sshPrnamt>
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      <None>0</None>
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      <sshPrnamt>38300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>38300</Sole>
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      <None>0</None>
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      <Sole>80149</Sole>
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      <None>0</None>
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      <sshPrnamt>3715050</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <sshPrnamt>31200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>31200</Sole>
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      <None>0</None>
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      <sshPrnamt>57569</sshPrnamt>
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    <otherManager>1</otherManager>
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      <None>0</None>
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      <sshPrnamt>561656</sshPrnamt>
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      <sshPrnamt>28930</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>28930</Sole>
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      <sshPrnamt>11500</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <sshPrnamt>1707795</sshPrnamt>
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      <sshPrnamt>48900</sshPrnamt>
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      <Sole>48900</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>311333</Sole>
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      <sshPrnamt>43500</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>46100</Sole>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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      <sshPrnamt>24400</sshPrnamt>
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      <Sole>11218</Sole>
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      <sshPrnamt>152700</sshPrnamt>
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    <putCall>Call</putCall>
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      <Sole>152700</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>108291</Sole>
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      <None>0</None>
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    <nameOfIssuer>JBS N.V.</nameOfIssuer>
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      <sshPrnamt>304400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>304400</Sole>
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      <None>0</None>
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    <nameOfIssuer>JBT MAREL CORPORATION</nameOfIssuer>
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      <sshPrnamt>203737</sshPrnamt>
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      <Sole>203737</Sole>
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      <None>0</None>
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    <nameOfIssuer>JBT MAREL CORPORATION</nameOfIssuer>
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      <sshPrnamt>8300</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>8300</Sole>
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      <None>0</None>
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    <nameOfIssuer>JBT MAREL CORPORATION</nameOfIssuer>
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      <sshPrnamt>9684</sshPrnamt>
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    <otherManager>1</otherManager>
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      <None>0</None>
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    <votingAuthority>
      <Sole>90237</Sole>
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    <nameOfIssuer>JD.COM INC</nameOfIssuer>
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      <sshPrnamt>10100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>10100</Sole>
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    <nameOfIssuer>JD.COM INC</nameOfIssuer>
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      <sshPrnamt>34000000</sshPrnamt>
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      <sshPrnamt>3640400</sshPrnamt>
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      <Sole>3640400</Sole>
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    <nameOfIssuer>JD.COM INC</nameOfIssuer>
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      <sshPrnamt>743973</sshPrnamt>
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    <nameOfIssuer>JD.COM INC</nameOfIssuer>
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      <sshPrnamt>1634700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1634700</Sole>
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    <nameOfIssuer>JEFFERIES FINANCIAL GROUP IN</nameOfIssuer>
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    <cusip>47233W109</cusip>
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      <sshPrnamt>233992</sshPrnamt>
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      <Sole>233992</Sole>
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  <infoTable>
    <nameOfIssuer>JEFFERIES FINANCIAL GROUP IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>370400</Sole>
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      <None>0</None>
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    <nameOfIssuer>JEFFERIES FINANCIAL GROUP IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>47233W109</cusip>
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      <sshPrnamt>456863</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>456863</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>JEFFERIES FINANCIAL GROUP IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>47233W109</cusip>
    <value>13111479</value>
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      <sshPrnamt>317700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>317700</Sole>
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      <None>0</None>
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    <nameOfIssuer>JEFFERSON CAPITAL INC</nameOfIssuer>
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    <cusip>47248R103</cusip>
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      <sshPrnamt>587498</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>587498</Sole>
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      <None>0</None>
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    <nameOfIssuer>JELD-WEN HLDG INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>60400</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>60400</Sole>
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      <None>0</None>
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      <sshPrnamt>762737</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>762737</Sole>
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    <nameOfIssuer>JENA ACQUISITION CORP II</nameOfIssuer>
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      <Sole>41165</Sole>
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      <None>0</None>
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    <votingAuthority>
      <Sole>103000</Sole>
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      <sshPrnamt>2378100</sshPrnamt>
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      <Sole>2378100</Sole>
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      <sshPrnamt>1141044</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>112800</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>45173</Sole>
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      <None>0</None>
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    <cusip>47759T100</cusip>
    <value>1889411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74357</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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  <infoTable>
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    <value>597135</value>
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      <sshPrnamt>23500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>23500</Sole>
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      <None>0</None>
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      <sshPrnamt>78598</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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    <cusip>47759T100</cusip>
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      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
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      <Sole>19600</Sole>
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  <infoTable>
    <nameOfIssuer>JM GROUP LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G5146R107</cusip>
    <value>671279</value>
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  <infoTable>
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    <cusip>47775AAA9</cusip>
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  <infoTable>
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      <None>0</None>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
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    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
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      <Sole>2212900</Sole>
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      <None>0</None>
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      <None>0</None>
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      <Sole>41574</Sole>
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      <sshPrnamt>122600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>122600</Sole>
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      <None>0</None>
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      <sshPrnamt>7400</sshPrnamt>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>6400</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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    <otherManager>1</otherManager>
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      <None>0</None>
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      <None>0</None>
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      <sshPrnamt>94200</sshPrnamt>
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  <infoTable>
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      <Sole>1049800</Sole>
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      <Sole>31300</Sole>
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      <sshPrnamt>43300</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>43300</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <sshPrnamt>1077100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1077100</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>LI AUTO INC</nameOfIssuer>
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      <sshPrnamt>3608</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3608</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LI AUTO INC</nameOfIssuer>
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    <cusip>50202M102</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>714000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>714000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>LIBERTY ALL STAR EQUITY FD</nameOfIssuer>
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      <sshPrnamt>53267</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>53267</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY BROADBAND CORP</nameOfIssuer>
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      <sshPrnamt>164765</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>164765</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIBERTY BROADBAND CORP</nameOfIssuer>
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    <cusip>530307305</cusip>
    <value>206230</value>
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      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>4100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIBERTY BROADBAND CORP</nameOfIssuer>
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    <cusip>530307305</cusip>
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      <sshPrnamt>13222</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13222</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY ENERGY INC</nameOfIssuer>
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      <sshPrnamt>990126</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>990126</Sole>
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      <None>0</None>
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      <sshPrnamt>74100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>74100</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY ENERGY INC</nameOfIssuer>
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    <cusip>53115L104</cusip>
    <value>8614454</value>
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      <sshPrnamt>299113</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>299113</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>LIBERTY ENERGY INC</nameOfIssuer>
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    <cusip>53115L104</cusip>
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      <sshPrnamt>232900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>232900</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY GLOBAL LTD</nameOfIssuer>
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      <sshPrnamt>270500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270500</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY GLOBAL LTD</nameOfIssuer>
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      <sshPrnamt>301339</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>301339</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>LIBERTY GLOBAL LTD</nameOfIssuer>
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    <cusip>G61188101</cusip>
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      <sshPrnamt>73100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73100</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY GLOBAL LTD</nameOfIssuer>
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    <value>1232213</value>
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      <sshPrnamt>101920</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>101920</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY GLOBAL LTD</nameOfIssuer>
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    <cusip>G61188101</cusip>
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      <sshPrnamt>207800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>207800</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY GLOBAL LTD</nameOfIssuer>
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    <cusip>G61188127</cusip>
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      <sshPrnamt>70700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70700</Sole>
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      <None>0</None>
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    <shrsOrPrnAmt>
      <sshPrnamt>195014</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>195014</Sole>
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      <None>0</None>
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      <sshPrnamt>37500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>37500</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY LATIN AMERICA LTD</nameOfIssuer>
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      <Sole>217221</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY LATIN AMERICA LTD</nameOfIssuer>
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      <Sole>645061</Sole>
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      <None>0</None>
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      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13100</Sole>
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      <None>0</None>
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    <nameOfIssuer>LIBERTY MEDIA CORP DEL</nameOfIssuer>
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      <sshPrnamt>1206591</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1206591</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP DEL</nameOfIssuer>
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      <sshPrnamt>36434000</sshPrnamt>
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      <None>36434000</None>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP DEL</nameOfIssuer>
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    <cusip>531229755</cusip>
    <value>595140</value>
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      <sshPrnamt>7000</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>7000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP DEL</nameOfIssuer>
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    <cusip>531229755</cusip>
    <value>2210520</value>
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      <sshPrnamt>26000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26000</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP DEL</nameOfIssuer>
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    <cusip>531229771</cusip>
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      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>3300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIFE TIME GROUP HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>53190C102</cusip>
    <value>49660927</value>
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      <sshPrnamt>1843390</sshPrnamt>
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      <Sole>1843390</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>532206109</cusip>
    <value>6941972</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>170063</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>763334</value>
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      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <Sole>18700</Sole>
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      <None>0</None>
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  <infoTable>
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    <value>559234</value>
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      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIFECORE BIOMEDICAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>158844</value>
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      <sshPrnamt>42700</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>42700</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <value>38316</value>
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      <sshPrnamt>10300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>10300</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>53216B104</cusip>
    <value>561716</value>
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      <sshPrnamt>155600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>155600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIFEMD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53216B104</cusip>
    <value>375079</value>
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      <sshPrnamt>103900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>103900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>LIFESTANCE HEALTH GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53228F101</cusip>
    <value>3166</value>
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      <sshPrnamt>497</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>497</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>53228F101</cusip>
    <value>82173</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12900</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>16400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>ROUNDHILL SPORTS</titleOfClass>
    <cusip>53656F789</cusip>
    <value>796623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44592</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44592</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>SHARES CORE BD</titleOfClass>
    <cusip>53656F862</cusip>
    <value>1155571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56242</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56242</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>TEUCRIUM 2X LONG</titleOfClass>
    <cusip>53656G191</cusip>
    <value>311424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>81100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>TEUCRIUM 2X LONG</titleOfClass>
    <cusip>53656G191</cusip>
    <value>153216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>ROUNDHILL MAGNIF</titleOfClass>
    <cusip>53656G498</cusip>
    <value>16304316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>281400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>ROUNDHILL MAGNIF</titleOfClass>
    <cusip>53656G498</cusip>
    <value>12654096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>218400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LISTED FDS TR</nameOfIssuer>
    <titleOfClass>HORIZON KINETICS</titleOfClass>
    <cusip>53656H835</cusip>
    <value>439657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19411</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITE STRATEGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55279B301</cusip>
    <value>597879</value>
    <shrsOrPrnAmt>
      <sshPrnamt>515413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>515413</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITE STRATEGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55279B301</cusip>
    <value>43384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITE STRATEGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55279B301</cusip>
    <value>249036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>214686</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIA MTRS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>536797103</cusip>
    <value>2796864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIA MTRS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>536797103</cusip>
    <value>7953332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31849</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIA MTRS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>536797103</cusip>
    <value>30690588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>122900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM AMERS CORP NEW</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>53681J103</cusip>
    <value>8285520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2097600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2097600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM AMERS CORP NEW</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>53681J103</cusip>
    <value>9102364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2304396</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2304396</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM AMERS CORP NEW</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>53681J103</cusip>
    <value>2578560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>652800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>652800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM ARGENTINA AG</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>H5012F103</cusip>
    <value>1424136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213194</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM ARGENTINA AG</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>H5012F103</cusip>
    <value>2185028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>327100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>327100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM ARGENTINA AG</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>H5012F103</cusip>
    <value>6920380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1035985</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1035985</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITHIUM ARGENTINA AG</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>H5012F103</cusip>
    <value>131596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITMAN GREGORY FDS TR</nameOfIssuer>
    <titleOfClass>POLEN CAP INTL G</titleOfClass>
    <cusip>53700T736</cusip>
    <value>223557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>28085</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITMAN GREGORY FDS TR</nameOfIssuer>
    <titleOfClass>POLEN CAPITAL GL</titleOfClass>
    <cusip>53700T744</cusip>
    <value>331521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33020</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITMAN GREGORY FDS TR</nameOfIssuer>
    <titleOfClass>IMGP BERKSHIRE</titleOfClass>
    <cusip>53700T751</cusip>
    <value>178713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13684</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13684</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITTELFUSE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>537008104</cusip>
    <value>1229804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3624</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITTELFUSE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>537008104</cusip>
    <value>2545125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITTELFUSE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>537008104</cusip>
    <value>26130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>77</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LITTELFUSE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>537008104</cusip>
    <value>1459205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVANOVA PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G5509L101</cusip>
    <value>912658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14359</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVANOVA PLC</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G5509L101</cusip>
    <value>502378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7904</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>538034109</cusip>
    <value>126146664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>827137</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>827137</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
    <titleOfClass>NOTE 3.125% 1/1</titleOfClass>
    <cusip>538034BA6</cusip>
    <value>217297152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142850000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>142850000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>538034109</cusip>
    <value>124097387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>813700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>813700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>538034109</cusip>
    <value>38096998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>249800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>249800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE OAK ACQUISITION CORP V</nameOfIssuer>
    <titleOfClass>CL A SHS</titleOfClass>
    <cusip>G5509P102</cusip>
    <value>107890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10374</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE OAK BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53803X105</cusip>
    <value>964420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29163</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE OAK BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53803X105</cusip>
    <value>238104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>48600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MAINSTREET BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <shrsOrPrnAmt>
      <sshPrnamt>8479</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8479</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MAINSTREET BANCSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>333866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15039</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MAKEMYTRIP LIMITED MAURITIUS</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>MAKEMYTRIP LIMITED MAURITIUS</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>V5633W109</cusip>
    <value>988185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MAKEMYTRIP LIMITED MAURITIUS</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>V5633W109</cusip>
    <value>6260991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>167900</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>MAKEMYTRIP LIMITED MAURITIUS</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>V5633W109</cusip>
    <value>1100055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MAKO MNG CORP</nameOfIssuer>
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    <cusip>56089A400</cusip>
    <value>66590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10421</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10421</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MALIBU BOATS INC</nameOfIssuer>
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    <cusip>56117J100</cusip>
    <value>479053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18482</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18482</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>56117J100</cusip>
    <value>347328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MALIBU BOATS INC</nameOfIssuer>
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    <cusip>56117J100</cusip>
    <value>228148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8802</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MALIBU BOATS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>56117J100</cusip>
    <value>857952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MAMAS CREATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56146T103</cusip>
    <value>541502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MAMAS CREATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56146T103</cusip>
    <value>544570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MAMMOTH ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56155L108</cusip>
    <value>811849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>331367</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MAMMOTH ENERGY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56155L108</cusip>
    <value>25970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MAN ETF SER TR</nameOfIssuer>
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    <cusip>56164V105</cusip>
    <value>434721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17274</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17274</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MAN ETF SER TR</nameOfIssuer>
    <titleOfClass>ACTIVE HIGH YIEL</titleOfClass>
    <cusip>56164V204</cusip>
    <value>220114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8864</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8864</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MAN ETF SER TR</nameOfIssuer>
    <titleOfClass>ACTIVE EMERGING</titleOfClass>
    <cusip>56164V402</cusip>
    <value>1036018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>38331</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>56167R606</cusip>
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      <sshPrnamt>17473</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17473</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MANAGED PORTFOLIO SERIES</nameOfIssuer>
    <titleOfClass>LEUTHOLD SELECT</titleOfClass>
    <cusip>56167R705</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>17841</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17841</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANAGED PORTFOLIO SERIES</nameOfIssuer>
    <titleOfClass>KENSINGTON CR OP</titleOfClass>
    <cusip>56167R820</cusip>
    <value>466209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18891</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18891</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANAGER DIRECTED PORTFOLIOS</nameOfIssuer>
    <titleOfClass>DEEPWATER BEH SM</titleOfClass>
    <cusip>56170L562</cusip>
    <value>457973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>19990</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANCHESTER UTD PLC NEW</nameOfIssuer>
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    <cusip>G5784H106</cusip>
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      <sshPrnamt>21600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANCHESTER UTD PLC NEW</nameOfIssuer>
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    <cusip>G5784H106</cusip>
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      <sshPrnamt>221825</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>221825</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MANCHESTER UTD PLC NEW</nameOfIssuer>
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    <value>637478</value>
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      <sshPrnamt>37900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>37900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANHATTAN ASSOCIATES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>562750109</cusip>
    <value>8317471</value>
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      <sshPrnamt>62481</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62481</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANHATTAN ASSOCIATES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>562750109</cusip>
    <value>1783808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MANHATTAN ASSOCIATES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>562750109</cusip>
    <value>13235855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>99428</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANHATTAN ASSOCIATES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>562750109</cusip>
    <value>2129920</value>
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      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANHATTAN BRDG CAP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>562803106</cusip>
    <value>146405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>32900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>563571405</cusip>
    <value>684368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58744</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANITOWOC CO INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>563571405</cusip>
    <value>235330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MANITOWOC CO INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>563571405</cusip>
    <value>1189430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>102097</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANNKIND CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>56400P706</cusip>
    <value>419484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171218</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANNKIND CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>56400P706</cusip>
    <value>312130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>127400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANNKIND CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>56400P706</cusip>
    <value>2497072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1019213</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1019213</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MANNKIND CORP</nameOfIssuer>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6700</Sole>
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      <None>0</None>
    </votingAuthority>
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    <shrsOrPrnAmt>
      <sshPrnamt>56482</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56482</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASCO CORP</nameOfIssuer>
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    <cusip>574599106</cusip>
    <value>1883544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>31200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASCO CORP</nameOfIssuer>
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    <value>7623946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>126287</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASCO CORP</nameOfIssuer>
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    <cusip>574599106</cusip>
    <value>2209542</value>
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      <sshPrnamt>36600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>36600</Sole>
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      <None>0</None>
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    <shrsOrPrnAmt>
      <sshPrnamt>131923</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131923</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
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    <cusip>574795100</cusip>
    <value>4909212</value>
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      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>27600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASIMO CORP</nameOfIssuer>
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    <value>26581426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>149443</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MASIMO CORP</nameOfIssuer>
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    <cusip>574795100</cusip>
    <value>4233306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>23800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASTEC INC</nameOfIssuer>
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    <cusip>576323109</cusip>
    <value>73075198</value>
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      <sshPrnamt>227125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227125</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>576323109</cusip>
    <value>26736594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>83100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASTEC INC</nameOfIssuer>
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    <cusip>576323109</cusip>
    <value>16940576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52653</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MASTEC INC</nameOfIssuer>
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    <cusip>576323109</cusip>
    <value>18467876</value>
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      <sshPrnamt>57400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>57400</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>MASTECH HLDGS INC</nameOfIssuer>
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      <sshPrnamt>10959</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MASTERBRAND INC</nameOfIssuer>
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      <sshPrnamt>14151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14151</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>57636Q104</cusip>
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      <sshPrnamt>1116695</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1116695</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MASTERCARD INCORPORATED</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>557270798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1115300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1115300</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MASTERCARD INCORPORATED</nameOfIssuer>
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    <cusip>57636Q104</cusip>
    <value>4484948</value>
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      <sshPrnamt>8976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8976</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MASTERCARD INCORPORATED</nameOfIssuer>
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    <cusip>57636Q104</cusip>
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      <sshPrnamt>618500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>618500</Sole>
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      <None>0</None>
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    <nameOfIssuer>MATADOR RES CO</nameOfIssuer>
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      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATADOR RES CO</nameOfIssuer>
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    <value>24697062</value>
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      <sshPrnamt>390900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>390900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATADOR RES CO</nameOfIssuer>
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      <sshPrnamt>66200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>66200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATCH GROUP INC NEW</nameOfIssuer>
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      <sshPrnamt>311037</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>311037</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATCH GROUP INC NEW</nameOfIssuer>
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      <sshPrnamt>160500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>160500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATCH GROUP INC NEW</nameOfIssuer>
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      <sshPrnamt>40321</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40321</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATCH GROUP INC NEW</nameOfIssuer>
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      <sshPrnamt>84200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>84200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATERIALISE NV</nameOfIssuer>
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      <sshPrnamt>71177</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71177</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATERIALISE NV</nameOfIssuer>
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      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>12500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATERIALISE NV</nameOfIssuer>
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    <cusip>57667T100</cusip>
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      <sshPrnamt>126445</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>126445</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>576690101</cusip>
    <value>5507259</value>
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      <sshPrnamt>38073</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38073</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MATERION CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>1706870</value>
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      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>11800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MATINAS BIOPHARMA HLDGS INC</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>51698</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MATIV HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808541106</cusip>
    <value>498240</value>
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      <sshPrnamt>57269</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57269</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MATIV HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808541106</cusip>
    <value>133980</value>
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      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MATIV HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>211410</value>
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      <sshPrnamt>24300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24300</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MATRIX SVC CO</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>385857</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>385857</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MATRIX SVC CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>125132</value>
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      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MATRIX SVC CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>86190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>86190</Sole>
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      <None>0</None>
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      <Sole>756600</Sole>
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      <None>0</None>
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      <Sole>422100</Sole>
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      <None>0</None>
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      <sshPrnamt>1948</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1948</Sole>
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      <None>0</None>
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    <nameOfIssuer>MCGRATH RENTCORP</nameOfIssuer>
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      <None>0</None>
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      <Sole>210479</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>59634</Sole>
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      <None>0</None>
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      <Sole>63500</Sole>
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  <infoTable>
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      <Sole>17824</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>712800</Sole>
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      <None>0</None>
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  <infoTable>
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      <Sole>70400</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>389446</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>METHODE ELECTRS INC</nameOfIssuer>
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    <cusip>591520200</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>83200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>83200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METLIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59156R108</cusip>
    <value>48874238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>691095</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>691095</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METLIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>66285856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>937300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>937300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METLIFE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59156R108</cusip>
    <value>31239782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>441739</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>59156R108</cusip>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1319900</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>METROCITY BANKSHARES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59165J105</cusip>
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      <sshPrnamt>37302</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37302</Sole>
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      <None>0</None>
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    <nameOfIssuer>METROCITY BANKSHARES INC</nameOfIssuer>
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    <cusip>59165J105</cusip>
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      <sshPrnamt>25984</sshPrnamt>
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    <otherManager>1</otherManager>
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      <Sole>25984</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>METROPOLITAN BK HLDG CORP</nameOfIssuer>
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    <value>25654153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308010</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>308010</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>METROPOLITAN BK HLDG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>266528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METROPOLITAN BK HLDG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>591774104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>69245</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>69245</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METTLER TOLEDO INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>592688105</cusip>
    <value>53183543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42169</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42169</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>METTLER TOLEDO INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>592688105</cusip>
    <value>20557560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>16300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>METTLER TOLEDO INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>592688105</cusip>
    <value>20034162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15885</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>METTLER TOLEDO INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>592688105</cusip>
    <value>7567200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>6000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MFA FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55272X607</cusip>
    <value>856768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89433</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89433</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MFA FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55272X607</cusip>
    <value>1296174</value>
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      <sshPrnamt>135300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>135300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MFA FINL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55272X607</cusip>
    <value>501992</value>
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      <sshPrnamt>52400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MFS ACTIVE EXCHANGE TRADED F</nameOfIssuer>
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    <cusip>55286W405</cusip>
    <value>2908518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97864</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>97864</Sole>
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      <None>0</None>
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    <nameOfIssuer>MFS ACTIVE EXCHANGE TRADED F</nameOfIssuer>
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    <cusip>55286W801</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>154392</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>154392</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MFS ACTIVE EXCHANGE TRADED F</nameOfIssuer>
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    <cusip>55286W884</cusip>
    <value>247995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11022</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11022</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MFS CHARTER INCOME TR</nameOfIssuer>
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    <cusip>552727109</cusip>
    <value>107704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>17773</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MFS GOVT MKTS INCOME TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>552939100</cusip>
    <value>31599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10748</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10748</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MFS HIGH YIELD MUN TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>59318E102</cusip>
    <value>97977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27368</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>27368</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MFS INTER HIGH INCOME FD</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>59318T109</cusip>
    <value>21128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13043</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13043</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MFS INTER INCOME TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>55273C107</cusip>
    <value>102026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40648</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40648</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MFS MULTIMARKET INCOME TR</nameOfIssuer>
    <titleOfClass>SH BEN INT</titleOfClass>
    <cusip>552737108</cusip>
    <value>70644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15291</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MGE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55277P104</cusip>
    <value>2905795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37596</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MGE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55277P104</cusip>
    <value>224141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MGE ENERGY INC</nameOfIssuer>
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    <cusip>55277P104</cusip>
    <value>565376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7315</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7315</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MGE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>216412</value>
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      <sshPrnamt>2800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2800</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MGIC INVT CORP WIS</nameOfIssuer>
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    <cusip>552848103</cusip>
    <value>24068651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>916901</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>916901</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MGIC INVT CORP WIS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>552848103</cusip>
    <value>8645910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>329368</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>329368</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MGIC INVT CORP WIS</nameOfIssuer>
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    <cusip>552848103</cusip>
    <value>900375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MGM RESORTS INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>552953101</cusip>
    <value>336791</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>0</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MGM RESORTS INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>552953101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>202589</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>202589</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MGM RESORTS INTERNATIONAL</nameOfIssuer>
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    <cusip>552953101</cusip>
    <value>21473202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>580200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>580200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MGM RESORTS INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>2326597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62864</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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  <infoTable>
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    <putCall>Put</putCall>
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      <Sole>43473</Sole>
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    <nameOfIssuer>MONARCH CASINO &amp; RESORT INC</nameOfIssuer>
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    <putCall>Call</putCall>
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      <None>0</None>
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      <sshPrnamt>421100</sshPrnamt>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <Sole>89600</Sole>
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      <sshPrnamt>15435</sshPrnamt>
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    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15435</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOOG INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>615394202</cusip>
    <value>907184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOOG INC</nameOfIssuer>
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    <cusip>615394202</cusip>
    <value>13392084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45763</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>45763</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOOG INC</nameOfIssuer>
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    <cusip>615394202</cusip>
    <value>263376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>900</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOONLAKE IMMUNOTHERAPEUTICS</nameOfIssuer>
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    <cusip>61559X104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>664000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>664000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MOONLAKE IMMUNOTHERAPEUTICS</nameOfIssuer>
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    <cusip>61559X104</cusip>
    <value>24674290</value>
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      <sshPrnamt>1323728</sshPrnamt>
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      <Sole>1323728</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MOONLAKE IMMUNOTHERAPEUTICS</nameOfIssuer>
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    <cusip>61559X104</cusip>
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      <sshPrnamt>94000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>94000</Sole>
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      <None>0</None>
    </votingAuthority>
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    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>617446448</cusip>
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      <sshPrnamt>2726608</sshPrnamt>
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    <votingAuthority>
      <Sole>2726608</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <value>16457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
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    <value>371944657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2260100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2260100</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
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    <value>22778463</value>
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      <sshPrnamt>138412</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>138412</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
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    <cusip>617446448</cusip>
    <value>354730635</value>
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      <sshPrnamt>2155500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2155500</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY DIRECT LENDIN</nameOfIssuer>
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    <cusip>61774A103</cusip>
    <value>16654</value>
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      <sshPrnamt>1193</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1193</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY DIRECT LENDIN</nameOfIssuer>
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    <cusip>61774A103</cusip>
    <value>1053980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>75500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY DIRECT LENDIN</nameOfIssuer>
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    <cusip>61774A103</cusip>
    <value>1059271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75879</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>75879</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY DIRECT LENDIN</nameOfIssuer>
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    <cusip>61774A103</cusip>
    <value>147976</value>
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      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>10600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY EMKT DBT FD I</nameOfIssuer>
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      <sshPrnamt>18449</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>18449</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>75787</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>75787</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
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      <sshPrnamt>12408</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>12408</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>33694</sshPrnamt>
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      <Sole>33694</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>45537</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>45537</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
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      <sshPrnamt>74966</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>74966</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
    <titleOfClass>EATON VANCE INCO</titleOfClass>
    <cusip>61774R817</cusip>
    <value>1922835</value>
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      <sshPrnamt>38720</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>38720</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
    <titleOfClass>EATON VANCE FLTG</titleOfClass>
    <cusip>61774R833</cusip>
    <value>809809</value>
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      <sshPrnamt>16808</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>16808</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>MORGAN STANLEY ETF TRUST</nameOfIssuer>
    <titleOfClass>EATON VANCE TOTA</titleOfClass>
    <cusip>61774R841</cusip>
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      <sshPrnamt>60541</sshPrnamt>
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      <Sole>60541</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>61774R858</cusip>
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      <sshPrnamt>18422</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>18422</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>SMALL MID CAP EQ</titleOfClass>
    <cusip>61769L841</cusip>
    <value>359533</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>6965</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>23650</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <putCall>Call</putCall>
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      <Sole>3500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>8700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>8700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MOSAIC CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>61945C103</cusip>
    <value>21861150</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>857300</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
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    <value>31760250</value>
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      <sshPrnamt>1245500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>1245500</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>61945C103</cusip>
    <value>56374533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2210766</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>2210766</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOSAIC CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>61945C103</cusip>
    <value>76216950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2988900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2988900</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOTORCAR PTS AMER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>620071100</cusip>
    <value>1163866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105232</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105232</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOTORCAR PTS AMER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>620071100</cusip>
    <value>619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>56</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <None>0</None>
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      <Sole>15600</Sole>
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      <None>0</None>
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      <Sole>19423</Sole>
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      <None>0</None>
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      <Sole>3974</Sole>
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      <None>0</None>
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      <Sole>18611</Sole>
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      <None>0</None>
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      <sshPrnamt>45200</sshPrnamt>
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      <None>0</None>
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      <Sole>14549</Sole>
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      <None>0</None>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <Sole>14431</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>6900</Sole>
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      <Sole>35800</Sole>
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      <Sole>4861</Sole>
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  <infoTable>
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      <Sole>418900</Sole>
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  <infoTable>
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      <Sole>125100</Sole>
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      <sshPrnamt>133600</sshPrnamt>
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      <Sole>133600</Sole>
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      <sshPrnamt>94226</sshPrnamt>
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      <Sole>94226</Sole>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <sshPrnamt>364700</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>364700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOGEN CORP</nameOfIssuer>
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    <value>1919305</value>
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      <sshPrnamt>206599</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOGEN CORP</nameOfIssuer>
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    <cusip>640491106</cusip>
    <value>5597225</value>
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      <sshPrnamt>602500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>602500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOGENOMICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>64049M209</cusip>
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      <sshPrnamt>240708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>240708</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOGENOMICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>64049M209</cusip>
    <value>555758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>74900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOGENOMICS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>64049M209</cusip>
    <value>170935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23037</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23037</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NEONODE INC</nameOfIssuer>
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    <cusip>64051M709</cusip>
    <value>46480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>33200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEONODE INC</nameOfIssuer>
    <titleOfClass>COM PAR</titleOfClass>
    <cusip>64051M709</cusip>
    <value>57329</value>
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      <sshPrnamt>40949</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>40949</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEONODE INC</nameOfIssuer>
    <titleOfClass>COM PAR</titleOfClass>
    <cusip>64051M709</cusip>
    <value>30100</value>
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      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>NEOS S&amp;P 500 HI</titleOfClass>
    <cusip>78433H303</cusip>
    <value>3618821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>73300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>NEOS S&amp;P 500 HI</titleOfClass>
    <cusip>78433H303</cusip>
    <value>2216713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>44900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>NEOS ENHCD INME</titleOfClass>
    <cusip>78433H402</cusip>
    <value>255865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5421</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>5421</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>MLP &amp; ENERGY INF</titleOfClass>
    <cusip>78433H485</cusip>
    <value>8396473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148269</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>148269</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>NEOS ENH INC 1-3</titleOfClass>
    <cusip>78433H501</cusip>
    <value>1753998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35235</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>MSCI EAFE HIGH</titleOfClass>
    <cusip>78433H543</cusip>
    <value>1148444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23553</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>23553</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>GOLD HIGH INCOME</titleOfClass>
    <cusip>78433H550</cusip>
    <value>500456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>GOLD HIGH INCOME</titleOfClass>
    <cusip>78433H550</cusip>
    <value>3586620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63067</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>63067</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>GOLD HIGH INCOME</titleOfClass>
    <cusip>78433H550</cusip>
    <value>506143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>ENHANCED INCOME</titleOfClass>
    <cusip>78433H584</cusip>
    <value>776461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>15694</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>REAL ESTATE HIGH</titleOfClass>
    <cusip>78433H618</cusip>
    <value>529648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>REAL ESTATE HIGH</titleOfClass>
    <cusip>78433H618</cusip>
    <value>439797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>RUSSELL 2000 HIG</titleOfClass>
    <cusip>78433H634</cusip>
    <value>1246620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>26300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>BITCOIN HIGH INC</titleOfClass>
    <cusip>78433H642</cusip>
    <value>2068418</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>63100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>BITCOIN HIGH INC</titleOfClass>
    <cusip>78433H642</cusip>
    <value>1290745</value>
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      <sshPrnamt>39376</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>39376</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>BITCOIN HIGH INC</titleOfClass>
    <cusip>78433H642</cusip>
    <value>1147300</value>
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      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>NASDAQ 100 HIGH</titleOfClass>
    <cusip>78433H675</cusip>
    <value>12556663</value>
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      <sshPrnamt>252700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>252700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEOS ETF TRUST</nameOfIssuer>
    <titleOfClass>NASDAQ 100 HIGH</titleOfClass>
    <cusip>78433H675</cusip>
    <value>3508114</value>
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      <sshPrnamt>70600</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>70600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEPHROS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>640671400</cusip>
    <value>62246</value>
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      <sshPrnamt>20888</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20888</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NERDWALLET INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>64082B102</cusip>
    <value>356366</value>
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      <sshPrnamt>34332</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34332</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NERDWALLET INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>64082B102</cusip>
    <value>366414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>35300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NERDWALLET INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>64082B102</cusip>
    <value>575405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>55434</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>COM CL A</titleOfClass>
    <cusip>64082B102</cusip>
    <value>213828</value>
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      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>20600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NERDY INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>64081V109</cusip>
    <value>12453</value>
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      <sshPrnamt>15257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15257</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>NERDY INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>64081V109</cusip>
    <value>139244</value>
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      <sshPrnamt>170600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>170600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NET LEASE OFFICE PROPERTIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110Y108</cusip>
    <value>547200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>47500</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NET POWER INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>64107A105</cusip>
    <value>214188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>137300</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NET POWER INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>64107A105</cusip>
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      <Sole>89700</Sole>
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    <nameOfIssuer>NEWTEKONE INC</nameOfIssuer>
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    <nameOfIssuer>NEXA RES S A</nameOfIssuer>
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    <nameOfIssuer>NEXERA TECHNOLOGIES LTD</nameOfIssuer>
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    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629377508</cusip>
    <value>18369798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>125700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NRX PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>629444209</cusip>
    <value>52611</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS CL A</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>878007</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS CL A</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>3251759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>226288</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>226288</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS CL A</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>93405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS CL A</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>190579251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13262300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13262300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS CL A</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>51214235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3563969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3563969</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS CL A</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>164329572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11435600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>11435600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU SKIN ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>67018T105</cusip>
    <value>1655363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227385</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU SKIN ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>67018T105</cusip>
    <value>152152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUCANA PLC</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>67022C304</cusip>
    <value>19536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>13855</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUCOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>670346105</cusip>
    <value>99067066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>585849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>585849</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUCOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>670346105</cusip>
    <value>173682610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1027100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1027100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUCOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>670346105</cusip>
    <value>85663862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>506587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>506587</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUCOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>670346105</cusip>
    <value>18516450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>109500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NURIX THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67080M103</cusip>
    <value>16550466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1067772</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1067772</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NURIX THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67080M103</cusip>
    <value>567300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>36600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NURIX THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67080M103</cusip>
    <value>4276884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>275928</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>275928</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSATRIP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67119K102</cusip>
    <value>135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSATRIP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67119K102</cusip>
    <value>1007438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>149250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSCALE PWR CORP</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>67079K100</cusip>
    <value>7463481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>688513</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>688513</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSCALE PWR CORP</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>67079K100</cusip>
    <value>41795788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3855700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3855700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSCALE PWR CORP</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>67079K100</cusip>
    <value>9133340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>842559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>842559</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSCALE PWR CORP</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>67079K100</cusip>
    <value>24140680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2227000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>2227000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN ESG MIDCP</titleOfClass>
    <cusip>67092P409</cusip>
    <value>393053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9568</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9568</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN ESG MIDVL</titleOfClass>
    <cusip>67092P508</cusip>
    <value>501684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12940</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN ESG SMLCP</titleOfClass>
    <cusip>67092P607</cusip>
    <value>1081800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>24008</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN HIGH YIEL</titleOfClass>
    <cusip>67092P680</cusip>
    <value>530777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN SHRT TERM</titleOfClass>
    <cusip>67092P706</cusip>
    <value>813800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>29943</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN SUST CORE</titleOfClass>
    <cusip>67092P748</cusip>
    <value>204380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7107</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>7107</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN ULTRA SHT</titleOfClass>
    <cusip>67092P755</cusip>
    <value>1530174</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>60541</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN CORE PLUS</titleOfClass>
    <cusip>67092P763</cusip>
    <value>1300871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>52018</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN DIVIDEND</titleOfClass>
    <cusip>67092P821</cusip>
    <value>317045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9164</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>9164</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN LARG CAP</titleOfClass>
    <cusip>67092P847</cusip>
    <value>269642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8064</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8064</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUSHARES ETF TR</nameOfIssuer>
    <titleOfClass>NUVEEN ESG US</titleOfClass>
    <cusip>67092P870</cusip>
    <value>1058706</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47668</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>47668</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUTANIX INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>67059N108</cusip>
    <value>15575548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>409775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>409775</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUTANIX INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>67059N108</cusip>
    <value>7602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>NUTANIX INC</nameOfIssuer>
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    <votingAuthority>
      <Sole>8721</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OKEANIS ECO TANKERS COR</nameOfIssuer>
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      <sshPrnamt>5164</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5164</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OKLO INC</nameOfIssuer>
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      <sshPrnamt>43768</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43768</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OKLO INC</nameOfIssuer>
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    <value>190425600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3840000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>3840000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OKLO INC</nameOfIssuer>
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    <cusip>02156V109</cusip>
    <value>10210978</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>205908</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <cusip>02156V109</cusip>
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      <sshPrnamt>1356200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>1356200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OKTA INC</nameOfIssuer>
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      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OKTA INC</nameOfIssuer>
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    <cusip>679295105</cusip>
    <value>266644529</value>
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      <sshPrnamt>3387683</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3387683</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OKTA INC</nameOfIssuer>
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    <cusip>679295105</cusip>
    <value>7871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OKTA INC</nameOfIssuer>
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    <cusip>679295105</cusip>
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      <sshPrnamt>480900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>480900</Sole>
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      <None>0</None>
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    <nameOfIssuer>OKTA INC</nameOfIssuer>
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    <cusip>679295105</cusip>
    <value>1103986</value>
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      <sshPrnamt>14026</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>14026</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>OKTA INC</nameOfIssuer>
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    <value>32924393</value>
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      <sshPrnamt>418300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>418300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLAPLEX HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>679369108</cusip>
    <value>501004</value>
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      <sshPrnamt>246800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>246800</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OLAPLEX HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>292478</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>292478</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OLAPLEX HLDGS INC</nameOfIssuer>
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    <value>176001</value>
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      <sshPrnamt>86700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>86700</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLB GROUP INC</nameOfIssuer>
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      <sshPrnamt>18545</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>18545</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD DOMINION FREIGHT LINE IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>679580100</cusip>
    <value>9973998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51044</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD DOMINION FREIGHT LINE IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>14205580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>72700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD DOMINION FREIGHT LINE IN</nameOfIssuer>
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    <cusip>679580100</cusip>
    <value>48270834</value>
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      <sshPrnamt>247036</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>247036</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD DOMINION FREIGHT LINE IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>9437820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>48300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD NATL BANCORP IND</nameOfIssuer>
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      <sshPrnamt>23400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>23400</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OLD NATL BANCORP IND</nameOfIssuer>
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      <sshPrnamt>575786</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>575786</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD REP INTL CORP</nameOfIssuer>
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      <sshPrnamt>314378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>314378</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD REP INTL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>2318190</value>
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      <sshPrnamt>58100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>58100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD REP INTL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>42615</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>42615</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD REP INTL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>23900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>23900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLD SECOND BANCORP INC DEL</nameOfIssuer>
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      <sshPrnamt>60065</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60065</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLEMA PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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      <sshPrnamt>429946</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>429946</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLEMA PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68062P106</cusip>
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      <sshPrnamt>137900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>137900</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLEMA PHARMACEUTICALS INC</nameOfIssuer>
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    <cusip>68062P106</cusip>
    <value>7088005</value>
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      <sshPrnamt>475386</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>475386</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>68062P106</cusip>
    <value>940821</value>
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      <sshPrnamt>63100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>63100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>680665205</cusip>
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      <sshPrnamt>1590696</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1590696</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OLIN CORP</nameOfIssuer>
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      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OLIN CORP</nameOfIssuer>
    <titleOfClass>COM PAR $1</titleOfClass>
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    <value>10019010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>337000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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    <votingAuthority>
      <Sole>337000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLIN CORP</nameOfIssuer>
    <titleOfClass>COM PAR $1</titleOfClass>
    <cusip>680665205</cusip>
    <value>1481089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49818</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>49818</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OLIN CORP</nameOfIssuer>
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    <cusip>680665205</cusip>
    <value>5277075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>177500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLLIES BARGAIN OUTLET HLDGS</nameOfIssuer>
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      <sshPrnamt>365415</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>365415</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OLLIES BARGAIN OUTLET HLDGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>681116109</cusip>
    <value>2807220</value>
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      <sshPrnamt>30500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>30500</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLLIES BARGAIN OUTLET HLDGS</nameOfIssuer>
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    <value>12097093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131433</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>131433</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OLLIES BARGAIN OUTLET HLDGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>681116109</cusip>
    <value>745524</value>
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      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OMADA HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68170A108</cusip>
    <value>5191</value>
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      <sshPrnamt>413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>413</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMADA HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68170A108</cusip>
    <value>2125587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>169100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMADA HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68170A108</cusip>
    <value>1908390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>151821</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMADA HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68170A108</cusip>
    <value>275283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>21900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMEGA FLEX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682095104</cusip>
    <value>365372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11771</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11771</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMEGA FLEX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682095104</cusip>
    <value>150606</value>
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      <sshPrnamt>4852</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>4852</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMEGA HEALTHCARE INVS INC</nameOfIssuer>
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    <value>4890312</value>
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      <sshPrnamt>111600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>111600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMEGA HEALTHCARE INVS INC</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>34800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>34800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
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      <sshPrnamt>3335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3335</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682143102</cusip>
    <value>2321088</value>
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      <sshPrnamt>219800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>219800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682143102</cusip>
    <value>2710889</value>
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      <sshPrnamt>256713</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>256713</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>OMEROS CORP</nameOfIssuer>
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    <cusip>682143102</cusip>
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      <sshPrnamt>234300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>234300</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMNIAB INC</nameOfIssuer>
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      <sshPrnamt>228684</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228684</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMNIAB INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68218J103</cusip>
    <value>19782</value>
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      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>12600</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OMNICOM GROUP INC</nameOfIssuer>
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      <sshPrnamt>1214983</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1214983</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OMNICOM GROUP INC</nameOfIssuer>
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    <cusip>681919106</cusip>
    <value>4533963</value>
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      <sshPrnamt>60204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>60204</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OMNICOM GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>2287391</value>
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      <sshPrnamt>30373</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>30373</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>OMNICOM GROUP INC</nameOfIssuer>
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      <sshPrnamt>135442</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>135442</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON HLDG AG</nameOfIssuer>
    <titleOfClass>NAMEN AKT A</titleOfClass>
    <cusip>H5919C104</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON HLDG AG</nameOfIssuer>
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    <cusip>H5919C104</cusip>
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      <sshPrnamt>3371019</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3371019</Sole>
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      <None>0</None>
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    <value>24348114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>715700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>715700</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>476138</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>476138</Sole>
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      <None>0</None>
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      <sshPrnamt>1273200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>1273200</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
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    <cusip>682189105</cusip>
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      <sshPrnamt>109304</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109304</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
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      <sshPrnamt>964800</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>964800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
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      <sshPrnamt>693900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>693900</Sole>
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      <None>0</None>
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  <infoTable>
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    <titleOfClass>COM</titleOfClass>
    <cusip>68237F108</cusip>
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      <sshPrnamt>433889</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>433889</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ONCE UPON A FARM PBC</nameOfIssuer>
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    <cusip>68237F108</cusip>
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      <sshPrnamt>65200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>65200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ONCE UPON A FARM PBC</nameOfIssuer>
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    <cusip>68237F108</cusip>
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      <sshPrnamt>21200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>21200</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>17768</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17768</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ONCOLYTICS BIOTECH INC</nameOfIssuer>
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      <sshPrnamt>170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>170</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
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    <votingAuthority>
      <Sole>1000</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ONDAS INC</nameOfIssuer>
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      <sshPrnamt>284461</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>284461</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ONDAS INC</nameOfIssuer>
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    <cusip>68236H204</cusip>
    <value>108021672</value>
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      <sshPrnamt>11949300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>11949300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>ONDAS INC</nameOfIssuer>
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    <shrsOrPrnAmt>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>0</None>
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      <None>0</None>
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  <infoTable>
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  <infoTable>
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  <infoTable>
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      <Sole>17800</Sole>
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