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    <nameOfIssuer>3M Co - US</nameOfIssuer>
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      <Sole>6200</Sole>
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    <nameOfIssuer>8X8 Inc - US</nameOfIssuer>
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      <Sole>4600</Sole>
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    <nameOfIssuer>Abbott Laboratories - US</nameOfIssuer>
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    <nameOfIssuer>Abivax SA - US ADR</nameOfIssuer>
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    <nameOfIssuer>Abivax SA - US ADR</nameOfIssuer>
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      <sshPrnamt>179700</sshPrnamt>
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    <nameOfIssuer>abrdn Gold ETF Trust - US ETP</nameOfIssuer>
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    <votingAuthority>
      <Sole>66252</Sole>
      <Shared>66252</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adaptive Biotechnologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00650F109</cusip>
    <value>11657753</value>
    <shrsOrPrnAmt>
      <sshPrnamt>543485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>543485</Sole>
      <Shared>543485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adecoagro Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L00849106</cusip>
    <value>2559056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267964</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267964</Sole>
      <Shared>267964</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adeia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00676P107</cusip>
    <value>1042037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31644</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31644</Sole>
      <Shared>31644</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adeia Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00676P107</cusip>
    <value>668479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>20300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adeia Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00676P107</cusip>
    <value>543345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16500</Sole>
      <Shared>16500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adient Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0084W101</cusip>
    <value>706711</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38450</Sole>
      <Shared>38450</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00724F101</cusip>
    <value>37826190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184500</Sole>
      <Shared>184500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00724F101</cusip>
    <value>58430700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>285000</Sole>
      <Shared>285000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adtran Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00486H105</cusip>
    <value>7526224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>541455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>541455</Sole>
      <Shared>541455</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advance Auto Parts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00751Y106</cusip>
    <value>410652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Energy Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>007973100</cusip>
    <value>47049482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126182</Sole>
      <Shared>126182</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Energy Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007973100</cusip>
    <value>261009</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Energy Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007973100</cusip>
    <value>298296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>007903107</cusip>
    <value>81368064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140070</Sole>
      <Shared>140070</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007903107</cusip>
    <value>238289282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>410200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>410200</Sole>
      <Shared>410200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007903107</cusip>
    <value>303932112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>523200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>523200</Sole>
      <Shared>523200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advansix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00773T101</cusip>
    <value>4470734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224886</Sole>
      <Shared>224886</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aecom - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00766T100</cusip>
    <value>46757764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>669882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>669882</Sole>
      <Shared>669882</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aegon Ltd - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>0076CA104</cusip>
    <value>108133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12812</Sole>
      <Shared>12812</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aehr Test Systems - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00760J108</cusip>
    <value>19649073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204550</Sole>
      <Shared>204550</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aehr Test Systems - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00760J108</cusip>
    <value>201726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aehr Test Systems - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00760J108</cusip>
    <value>249756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aercap Holdings Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N00985106</cusip>
    <value>21444238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147100</Sole>
      <Shared>147100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aercap Holdings Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N00985106</cusip>
    <value>816368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aerovironment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008073108</cusip>
    <value>925052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5604</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5604</Sole>
      <Shared>5604</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aerovironment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008073108</cusip>
    <value>264112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aerovironment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008073108</cusip>
    <value>5199705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aersale Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00810F106</cusip>
    <value>270976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42876</Sole>
      <Shared>42876</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aes Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00130H105</cusip>
    <value>19093770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1302440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1302440</Sole>
      <Shared>1302440</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aes Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00130H105</cusip>
    <value>146600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aes Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00130H105</cusip>
    <value>356238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24300</Sole>
      <Shared>24300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aeva Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00835Q202</cusip>
    <value>7509418</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261470</Sole>
      <Shared>261470</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aeva Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00835Q202</cusip>
    <value>324536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>11300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aevex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00835T107</cusip>
    <value>5254775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>251545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>251545</Sole>
      <Shared>251545</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affiliated Managers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008252108</cusip>
    <value>3954881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11687</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11687</Sole>
      <Shared>11687</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affirm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00827B106</cusip>
    <value>9476110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116200</Sole>
      <Shared>116200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affirm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00827B106</cusip>
    <value>1769635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>21700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aflac Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>001055102</cusip>
    <value>5018300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42800</Sole>
      <Shared>42800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilent Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00846U101</cusip>
    <value>1567394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilent Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00846U101</cusip>
    <value>305509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilon Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00857U206</cusip>
    <value>3787312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35336</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35336</Sole>
      <Shared>35336</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agios Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00847X104</cusip>
    <value>2441059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65779</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65779</Sole>
      <Shared>65779</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnc Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00123Q104</cusip>
    <value>28439637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2609141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2609141</Sole>
      <Shared>2609141</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnc Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00123Q104</cusip>
    <value>872000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80000</Sole>
      <Shared>80000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnico Eagle Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008474108</cusip>
    <value>9309351</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60010</Sole>
      <Shared>60010</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnico Eagle Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008474108</cusip>
    <value>13015407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83900</Sole>
      <Shared>83900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AGNT Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30212W100</cusip>
    <value>1821136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>336624</Sole>
      <Shared>336624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agree Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008492100</cusip>
    <value>55023444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>726478</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>726478</Sole>
      <Shared>726478</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AH Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04208T108</cusip>
    <value>2055657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>290347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>290347</Sole>
      <Shared>290347</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Air Products And Chemicals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>009158106</cusip>
    <value>1495218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Airbnb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>009066101</cusip>
    <value>6425190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44900</Sole>
      <Shared>44900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Airsculpt Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>009496100</cusip>
    <value>656568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145904</Sole>
      <Shared>145904</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akamai Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00971T101</cusip>
    <value>6052352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51200</Sole>
      <Shared>51200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akamai Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00971T101</cusip>
    <value>8310163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70300</Sole>
      <Shared>70300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akamai Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>00971TAL5</cusip>
    <value>79433670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66203000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66203000</Sole>
      <Shared>66203000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aktis Oncology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01021M104</cusip>
    <value>689786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21402</Sole>
      <Shared>21402</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alamos Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>011532108</cusip>
    <value>19776947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>651844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>651844</Sole>
      <Shared>651844</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alamos Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011532108</cusip>
    <value>2145038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70700</Sole>
      <Shared>70700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alaska Air Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>011659109</cusip>
    <value>4860238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93108</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93108</Sole>
      <Shared>93108</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alaska Air Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011659109</cusip>
    <value>720360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alaska Air Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011659109</cusip>
    <value>2124540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40700</Sole>
      <Shared>40700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albemarle Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>012653101</cusip>
    <value>1586062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11746</Sole>
      <Shared>11746</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albemarle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>012653101</cusip>
    <value>3092187</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22900</Sole>
      <Shared>22900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albemarle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>012653101</cusip>
    <value>17621415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130500</Sole>
      <Shared>130500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albertsons Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>013091103</cusip>
    <value>858668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63464</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63464</Sole>
      <Shared>63464</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albertsons Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>013091103</cusip>
    <value>235422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17400</Sole>
      <Shared>17400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcoa Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>013872106</cusip>
    <value>24521181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>470295</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>470295</Sole>
      <Shared>470295</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcoa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>013872106</cusip>
    <value>3029334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58100</Sole>
      <Shared>58100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcoa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>013872106</cusip>
    <value>7664580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147000</Sole>
      <Shared>147000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcon Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H01301128</cusip>
    <value>4522540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67400</Sole>
      <Shared>67400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcon Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H01301128</cusip>
    <value>301950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alexandria Real Estate Equities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>015271109</cusip>
    <value>2866056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54230</Sole>
      <Shared>54230</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alexandria Real Estate Equities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>015271109</cusip>
    <value>1469230</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>27800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alexandria Real Estate Equities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>015271109</cusip>
    <value>2890895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54700</Sole>
      <Shared>54700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>01609W102</cusip>
    <value>25071992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261221</Sole>
      <Shared>261221</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01609W102</cusip>
    <value>16182228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168600</Sole>
      <Shared>168600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01609W102</cusip>
    <value>113966652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1187400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1187400</Sole>
      <Shared>1187400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Align Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>016255101</cusip>
    <value>2926757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17353</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17353</Sole>
      <Shared>17353</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Align Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>016255101</cusip>
    <value>607176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alignment Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01625V104</cusip>
    <value>228576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alkermes Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G01767105</cusip>
    <value>1356454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25889</Sole>
      <Shared>25889</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allegion Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0176J109</cusip>
    <value>33278428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236874</Sole>
      <Shared>236874</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alliant Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>018802108</cusip>
    <value>7826439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102588</Sole>
      <Shared>102588</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allison Transmission Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01973R101</cusip>
    <value>7661585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67958</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67958</Sole>
      <Shared>67958</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allstate Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>020002101</cusip>
    <value>9628718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40467</Sole>
      <Shared>40467</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allstate Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>020002101</cusip>
    <value>1832138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ally Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02005N100</cusip>
    <value>533020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ally Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02005N100</cusip>
    <value>1796645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39100</Sole>
      <Shared>39100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Almonty Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>020398707</cusip>
    <value>463167</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27969</Sole>
      <Shared>27969</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alnylam Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02043Q107</cusip>
    <value>361236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpha &amp; Omega Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6331P104</cusip>
    <value>6830287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144312</Sole>
      <Shared>144312</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpha Cognition Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02074J501</cusip>
    <value>444723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61596</Sole>
      <Shared>61596</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpha Metallurgical Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>020764106</cusip>
    <value>4543272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27545</Sole>
      <Shared>27545</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc.</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02079K305</cusip>
    <value>122507508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>342803</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>342803</Sole>
      <Shared>342803</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc.</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K305</cusip>
    <value>74618856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>208800</Sole>
      <Shared>208800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc.</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K305</cusip>
    <value>240116903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>671900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>671900</Sole>
      <Shared>671900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc. - C Shares</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02079K107</cusip>
    <value>110043922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311448</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>311448</Sole>
      <Shared>311448</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc. - C Shares</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K107</cusip>
    <value>23743776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67200</Sole>
      <Shared>67200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc. - C Shares</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K107</cusip>
    <value>145854624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>412800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>412800</Sole>
      <Shared>412800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphatec Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02081G201</cusip>
    <value>2341633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270709</Sole>
      <Shared>270709</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alta Equipment Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02128L106</cusip>
    <value>1781754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>275387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>275387</Sole>
      <Shared>275387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02209S103</cusip>
    <value>4693658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65235</Sole>
      <Shared>65235</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02209S103</cusip>
    <value>2158500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>30000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02209S103</cusip>
    <value>2352765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32700</Sole>
      <Shared>32700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alvotech SA - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L01800108</cusip>
    <value>164076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44465</Sole>
      <Shared>44465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023135106</cusip>
    <value>290850354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1220317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1220317</Sole>
      <Shared>1220317</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>023135106</cusip>
    <value>72884372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>305800</Sole>
      <Shared>305800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>023135106</cusip>
    <value>255381310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1071500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1071500</Sole>
      <Shared>1071500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambarella Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>248820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambarella Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G037AX101</cusip>
    <value>763620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>8900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambev Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>02319V103</cusip>
    <value>205274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65374</Sole>
      <Shared>65374</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambiq Micro Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023193105</cusip>
    <value>4371556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49508</Sole>
      <Shared>49508</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amc Entertainment Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00165C302</cusip>
    <value>2838600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1494000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1494000</Sole>
      <Shared>1494000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amdocs Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G02602103</cusip>
    <value>4391926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86900</Sole>
      <Shared>86900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amer Sports Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0260P102</cusip>
    <value>379143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11204</Sole>
      <Shared>11204</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amer Sports Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0260P102</cusip>
    <value>385776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameren Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023608102</cusip>
    <value>4865355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43041</Sole>
      <Shared>43041</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameresco Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02361E108</cusip>
    <value>3935926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142606</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>142606</Sole>
      <Shared>142606</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Airlines Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02376R102</cusip>
    <value>4600622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>254600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>254600</Sole>
      <Shared>254600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Airlines Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02376R102</cusip>
    <value>7558681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>418300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>418300</Sole>
      <Shared>418300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Coastal Insurance Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>910710102</cusip>
    <value>2069129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186408</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>186408</Sole>
      <Shared>186408</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Eagle Outfitters Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02553E106</cusip>
    <value>13519389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>786011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>786011</Sole>
      <Shared>786011</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Eagle Outfitters Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02553E106</cusip>
    <value>209840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Electric Power Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025537101</cusip>
    <value>2175279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Express Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025816109</cusip>
    <value>5682600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16800</Sole>
      <Shared>16800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Express Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025816109</cusip>
    <value>10654875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Financial Group Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>025932104</cusip>
    <value>4845283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34624</Sole>
      <Shared>34624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Healthcare REIT Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>398182303</cusip>
    <value>3262139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62553</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62553</Sole>
      <Shared>62553</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Homes 4 Rent - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02665T306</cusip>
    <value>32386823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>966194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>966194</Sole>
      <Shared>966194</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American International Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>026874784</cusip>
    <value>19715943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>264537</Sole>
      <Shared>264537</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Public Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02913V103</cusip>
    <value>331812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6179</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6179</Sole>
      <Shared>6179</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Tower Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03027X100</cusip>
    <value>32360525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197839</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>197839</Sole>
      <Shared>197839</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Tower Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03027X100</cusip>
    <value>2878832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17600</Sole>
      <Shared>17600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Tower Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03027X100</cusip>
    <value>866921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Vanguard Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>030371108</cusip>
    <value>782440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279443</Sole>
      <Shared>279443</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Water Works Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>030420103</cusip>
    <value>1065798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Water Works Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>030420103</cusip>
    <value>407898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>America's Car-Mart Inc/Tx - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03062T105</cusip>
    <value>196882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70567</Sole>
      <Shared>70567</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Americold Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03064D108</cusip>
    <value>160344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameriprise Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03076C106</cusip>
    <value>31851707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69430</Sole>
      <Shared>69430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ametek Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>031100100</cusip>
    <value>21599194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89275</Sole>
      <Shared>89275</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ametek Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031100100</cusip>
    <value>1887132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7800</Sole>
      <Shared>7800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ametek Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031100100</cusip>
    <value>217746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amgen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031162100</cusip>
    <value>57866776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159800</Sole>
      <Shared>159800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amgen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031162100</cusip>
    <value>21111596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58300</Sole>
      <Shared>58300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amkor Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>031652100</cusip>
    <value>9197292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106660</Sole>
      <Shared>106660</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amkor Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031652100</cusip>
    <value>284559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amkor Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031652100</cusip>
    <value>7320927</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84900</Sole>
      <Shared>84900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AmperCap Acquisition Co - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0344N123</cusip>
    <value>3162600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>315000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>315000</Sole>
      <Shared>315000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amphenol Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032095101</cusip>
    <value>8110720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46000</Sole>
      <Shared>46000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amphenol Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032095101</cusip>
    <value>6435680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36500</Sole>
      <Shared>36500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AmpliTech Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03211Q200</cusip>
    <value>179568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>25800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amprius Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03214Q108</cusip>
    <value>10359352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>747428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>747428</Sole>
      <Shared>747428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amprius Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03214Q108</cusip>
    <value>417186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30100</Sole>
      <Shared>30100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amprius Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03214Q108</cusip>
    <value>1762992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127200</Sole>
      <Shared>127200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amrize Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2927K103</cusip>
    <value>1055340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19800</Sole>
      <Shared>19800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amrize Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2927K103</cusip>
    <value>1982760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37200</Sole>
      <Shared>37200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amylyx Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03237H101</cusip>
    <value>635964</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35410</Sole>
      <Shared>35410</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Analog Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>032654105</cusip>
    <value>13682109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34449</Sole>
      <Shared>34449</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Analog Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032654105</cusip>
    <value>9134910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23000</Sole>
      <Shared>23000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Analog Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032654105</cusip>
    <value>21447180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54000</Sole>
      <Shared>54000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anaptysbio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>032724106</cusip>
    <value>1351283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20019</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20019</Sole>
      <Shared>20019</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anavex Life Sciences Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>032797300</cusip>
    <value>52776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20377</Sole>
      <Shared>20377</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Andersen Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>033853102</cusip>
    <value>5479622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145271</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145271</Sole>
      <Shared>145271</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Andersons Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>034164103</cusip>
    <value>2969518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43414</Sole>
      <Shared>43414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Angel Studios Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>034948109</cusip>
    <value>1229578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>335035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>335035</Sole>
      <Shared>335035</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Angiodynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03475V101</cusip>
    <value>253084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19453</Sole>
      <Shared>19453</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anglogold Ashanti Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0378L100</cusip>
    <value>841256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anglogold Ashanti Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0378L100</cusip>
    <value>2839239</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35100</Sole>
      <Shared>35100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anheuser-Busch Inbev Sa/Nv - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>03524A108</cusip>
    <value>7760267</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94178</Sole>
      <Shared>94178</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anheuser-Busch Inbev Sa/Nv - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03524A108</cusip>
    <value>329600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anheuser-Busch Inbev Sa/Nv - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03524A108</cusip>
    <value>2546160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anika Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>035255108</cusip>
    <value>334105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22837</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22837</Sole>
      <Shared>22837</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Annaly Capital Management Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>035710839</cusip>
    <value>1185080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53000</Sole>
      <Shared>53000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Annovis Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03615A108</cusip>
    <value>2524269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1357134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1357134</Sole>
      <Shared>1357134</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Antero Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03674X106</cusip>
    <value>2340324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66600</Sole>
      <Shared>66600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aon Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0403H108</cusip>
    <value>15849807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47785</Sole>
      <Shared>47785</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aon Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0403H108</cusip>
    <value>563873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apa Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03743Q108</cusip>
    <value>6312717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>193820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>193820</Sole>
      <Shared>193820</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03743Q108</cusip>
    <value>2823819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86700</Sole>
      <Shared>86700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03743Q108</cusip>
    <value>1859747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57100</Sole>
      <Shared>57100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apartment Investment And Management Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03748R747</cusip>
    <value>3412738</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1149070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1149070</Sole>
      <Shared>1149070</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Api Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00187Y100</cusip>
    <value>8931573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>210899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>210899</Sole>
      <Shared>210899</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apogee Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>037598109</cusip>
    <value>481322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10523</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10523</Sole>
      <Shared>10523</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apogee Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03770N101</cusip>
    <value>4742974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35734</Sole>
      <Shared>35734</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apogee Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03770N101</cusip>
    <value>13352638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100600</Sole>
      <Shared>100600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apollo Commercial Real Estate Finance Inc - US REI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03762U105</cusip>
    <value>2268421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>212399</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>212399</Sole>
      <Shared>212399</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apollo Global Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03769M106</cusip>
    <value>17036640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144000</Sole>
      <Shared>144000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apollo Global Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03769M106</cusip>
    <value>4389301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37100</Sole>
      <Shared>37100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Appian Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03782L101</cusip>
    <value>1089147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47561</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47561</Sole>
      <Shared>47561</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>037833100</cusip>
    <value>25826537</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89254</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89254</Sole>
      <Shared>89254</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>037833100</cusip>
    <value>193900136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>670100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>670100</Sole>
      <Shared>670100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>037833100</cusip>
    <value>150091032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>518700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>518700</Sole>
      <Shared>518700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Aerospace &amp; Defense Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03815J107</cusip>
    <value>2813148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123492</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123492</Sole>
      <Shared>123492</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038169207</cusip>
    <value>5430880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145600</Sole>
      <Shared>145600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038169207</cusip>
    <value>1424860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38200</Sole>
      <Shared>38200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Industrial Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03820C105</cusip>
    <value>1650510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4881</Sole>
      <Shared>4881</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038222105</cusip>
    <value>40560300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56100</Sole>
      <Shared>56100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038222105</cusip>
    <value>170772600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236200</Sole>
      <Shared>236200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Optoelectronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03823U102</cusip>
    <value>8992571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60695</Sole>
      <Shared>60695</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Optoelectronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03823U102</cusip>
    <value>38758656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261600</Sole>
      <Shared>261600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Optoelectronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03823U102</cusip>
    <value>8608096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58100</Sole>
      <Shared>58100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applovin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03831W108</cusip>
    <value>8810433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>17100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applovin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03831W108</cusip>
    <value>50080356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97200</Sole>
      <Shared>97200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aptiv Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3265R107</cusip>
    <value>28886778</value>
    <shrsOrPrnAmt>
      <sshPrnamt>470622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>470622</Sole>
      <Shared>470622</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aptiv Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3265R107</cusip>
    <value>1430154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23300</Sole>
      <Shared>23300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aramark - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03852U106</cusip>
    <value>27358032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>480809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>480809</Sole>
      <Shared>480809</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arbe Robotics Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M1R95N100</cusip>
    <value>48555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58500</Sole>
      <Shared>58500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arbor Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>038923108</cusip>
    <value>463865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85584</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85584</Sole>
      <Shared>85584</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcelormittal Sa - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>03938L203</cusip>
    <value>1920536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31892</Sole>
      <Shared>31892</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcelormittal Sa - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03938L203</cusip>
    <value>307122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcelormittal Sa - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03938L203</cusip>
    <value>903300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arch Capital Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0450A105</cusip>
    <value>10537901</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108571</Sole>
      <Shared>108571</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archer Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03945R102</cusip>
    <value>266772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56400</Sole>
      <Shared>56400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archer-Daniels-Midland Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>039483102</cusip>
    <value>511880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archer-Daniels-Midland Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>039483102</cusip>
    <value>496600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archimedes Tech SPAC Partners II Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G04537109</cusip>
    <value>1335017</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123842</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123842</Sole>
      <Shared>123842</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archimedes Tech SPAC Partners III Co - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0453R121</cusip>
    <value>6623500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>650000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>650000</Sole>
      <Shared>650000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcos Dorados Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0457F107</cusip>
    <value>3031116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>376069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>376069</Sole>
      <Shared>376069</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcosa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>039653100</cusip>
    <value>84561395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>582018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>582018</Sole>
      <Shared>582018</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcutis Biotherapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03969K108</cusip>
    <value>3458785</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131914</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131914</Sole>
      <Shared>131914</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardagh Metal Packaging Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L02235106</cusip>
    <value>1742926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>367706</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>367706</Sole>
      <Shared>367706</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardmore Shipping Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y0207T100</cusip>
    <value>4944956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>352959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>352959</Sole>
      <Shared>352959</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04010L103</cusip>
    <value>235331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>12700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Management Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03990B101</cusip>
    <value>7279674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65400</Sole>
      <Shared>65400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Management Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03990B101</cusip>
    <value>2148283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19300</Sole>
      <Shared>19300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Argan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04010E109</cusip>
    <value>638840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Argan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04010E109</cusip>
    <value>3114345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arhaus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04035M102</cusip>
    <value>726806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86319</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86319</Sole>
      <Shared>86319</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aris Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04040Y109</cusip>
    <value>5739157</value>
    <shrsOrPrnAmt>
      <sshPrnamt>384920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>384920</Sole>
      <Shared>384920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>040413205</cusip>
    <value>13187105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77626</Sole>
      <Shared>77626</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>040413205</cusip>
    <value>5809896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34200</Sole>
      <Shared>34200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>040413205</cusip>
    <value>24887420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146500</Sole>
      <Shared>146500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARK Autonomous Technology &amp; Robotics ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>00214Q203</cusip>
    <value>301858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2283</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2283</Sole>
      <Shared>2283</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARK Genomic Revolution ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>00214Q302</cusip>
    <value>1113623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26477</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26477</Sole>
      <Shared>26477</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arko Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>041242108</cusip>
    <value>3688805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>459378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>459378</Sole>
      <Shared>459378</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARM Holdings PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>042068205</cusip>
    <value>99882369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>281700</Sole>
      <Shared>281700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARM Holdings PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>042068205</cusip>
    <value>72970506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>205800</Sole>
      <Shared>205800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Armstrong World Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04247X102</cusip>
    <value>24197111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150836</Sole>
      <Shared>150836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Array Digital Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911684108</cusip>
    <value>906500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Array Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04271T100</cusip>
    <value>624633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84296</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84296</Sole>
      <Shared>84296</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Array Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04271T100</cusip>
    <value>382356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51600</Sole>
      <Shared>51600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Array Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04271T100</cusip>
    <value>155610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21000</Sole>
      <Shared>21000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ArriVent Biopharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04272N102</cusip>
    <value>808990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23287</Sole>
      <Shared>23287</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arrow Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>042735100</cusip>
    <value>20388551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95537</Sole>
      <Shared>95537</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arrowhead Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04280A100</cusip>
    <value>1222650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARS Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82835W108</cusip>
    <value>367619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45895</Sole>
      <Shared>45895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arteris Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04302A104</cusip>
    <value>13964572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>287396</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>287396</Sole>
      <Shared>287396</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arthur J Gallagher &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>363576109</cusip>
    <value>2685969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>11700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arthur J Gallagher &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>363576109</cusip>
    <value>436183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Artisan Partners Asset Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04316A108</cusip>
    <value>13297572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>385102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>385102</Sole>
      <Shared>385102</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arxis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04339D105</cusip>
    <value>7125585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154434</Sole>
      <Shared>154434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asbury Automotive Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>043436104</cusip>
    <value>13515190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67213</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67213</Sole>
      <Shared>67213</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ascendis Pharma A/S - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>K08588103</cusip>
    <value>4434220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16625</Sole>
      <Shared>16625</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ascendis Pharma A/S - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>K08588103</cusip>
    <value>213376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ascendis Pharma A/S - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>K08588103</cusip>
    <value>5334400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ase Technology Holding Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>00215W100</cusip>
    <value>676078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14984</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14984</Sole>
      <Shared>14984</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ase Technology Holding Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00215W100</cusip>
    <value>1060320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23500</Sole>
      <Shared>23500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ashland Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>044186104</cusip>
    <value>1106952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16800</Sole>
      <Shared>16800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asml Holding Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N07059210</cusip>
    <value>56897984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>28600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asml Holding Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N07059210</cusip>
    <value>41579296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>20900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aspen Aerogels Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04523Y105</cusip>
    <value>3597215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>567384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>567384</Sole>
      <Shared>567384</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Assurant Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04621X108</cusip>
    <value>1201940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4476</Sole>
      <Shared>4476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Assured Guaranty Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0585R106</cusip>
    <value>718634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8965</Sole>
      <Shared>8965</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ast Spacemobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00217D100</cusip>
    <value>288884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3251</Sole>
      <Shared>3251</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ast Spacemobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00217D100</cusip>
    <value>14395320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162000</Sole>
      <Shared>162000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ast Spacemobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00217D100</cusip>
    <value>20313396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228600</Sole>
      <Shared>228600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astec Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>046224101</cusip>
    <value>6995118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114318</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114318</Sole>
      <Shared>114318</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astera Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04626A103</cusip>
    <value>174370220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>361000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>361000</Sole>
      <Shared>361000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astera Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04626A103</cusip>
    <value>17485324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36200</Sole>
      <Shared>36200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astera Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04626A103</cusip>
    <value>59749574</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123700</Sole>
      <Shared>123700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astrazeneca Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0593M107</cusip>
    <value>7517295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39644</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39644</Sole>
      <Shared>39644</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astrazeneca Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0593M107</cusip>
    <value>2180630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astronics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>046433108</cusip>
    <value>1422700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17508</Sole>
      <Shared>17508</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>At&amp;T Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00206R102</cusip>
    <value>2421900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117000</Sole>
      <Shared>117000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>At&amp;T Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00206R102</cusip>
    <value>3761190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181700</Sole>
      <Shared>181700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AtaiBeckley Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04650F101</cusip>
    <value>431671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81911</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81911</Sole>
      <Shared>81911</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATI Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01741R102</cusip>
    <value>29296550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148638</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148638</Sole>
      <Shared>148638</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01741R102</cusip>
    <value>6543720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33200</Sole>
      <Shared>33200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01741R102</cusip>
    <value>1281150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlanta Braves Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>047726302</cusip>
    <value>21768677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>419435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>419435</Sole>
      <Shared>419435</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlas Energy Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>642045108</cusip>
    <value>4232112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>254793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>254793</Sole>
      <Shared>254793</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlassian Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>049468101</cusip>
    <value>3531199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45394</Sole>
      <Shared>45394</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlassian Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>049468101</cusip>
    <value>7296702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93800</Sole>
      <Shared>93800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlassian Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>049468101</cusip>
    <value>13216521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169900</Sole>
      <Shared>169900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atmos Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>049560105</cusip>
    <value>33167143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192530</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192530</Sole>
      <Shared>192530</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atrium Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04965N104</cusip>
    <value>1742999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129591</Sole>
      <Shared>129591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aurora Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>051774107</cusip>
    <value>1537910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225500</Sole>
      <Shared>225500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aurora Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>051774107</cusip>
    <value>620620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91000</Sole>
      <Shared>91000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autodesk Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>052769106</cusip>
    <value>5540970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28500</Sole>
      <Shared>28500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autodesk Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>052769106</cusip>
    <value>1399824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autoliv Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>052800109</cusip>
    <value>13935869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119961</Sole>
      <Shared>119961</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053015103</cusip>
    <value>3516015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053015103</cusip>
    <value>335925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autonation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05329W102</cusip>
    <value>1217668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6554</Sole>
      <Shared>6554</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autozone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053332102</cusip>
    <value>22371580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>7000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autozone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053332102</cusip>
    <value>319594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avalonbay Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053484101</cusip>
    <value>1914637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10147</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10147</Sole>
      <Shared>10147</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avalonbay Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053484101</cusip>
    <value>320773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avalonbay Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053484101</cusip>
    <value>283035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avanos Medical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05350V106</cusip>
    <value>1990400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80000</Sole>
      <Shared>80000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis Emerging Markets Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072604</cusip>
    <value>4924560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51037</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51037</Sole>
      <Shared>51037</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis International Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072703</cusip>
    <value>1679279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18826</Sole>
      <Shared>18826</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis International Small Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072802</cusip>
    <value>815847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7917</Sole>
      <Shared>7917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis US Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072885</cusip>
    <value>4272877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33361</Sole>
      <Shared>33361</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis US Large Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072349</cusip>
    <value>5962398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65370</Sole>
      <Shared>65370</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avino Silver &amp; Gold Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053906103</cusip>
    <value>171053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26980</Sole>
      <Shared>26980</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avis Budget Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053774105</cusip>
    <value>5635280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38120</Sole>
      <Shared>38120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avis Budget Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053774105</cusip>
    <value>4154023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28100</Sole>
      <Shared>28100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avis Budget Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053774105</cusip>
    <value>4420117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>29900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avnet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053807103</cusip>
    <value>427579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4814</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4814</Sole>
      <Shared>4814</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axalta Coating Systems Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0750C108</cusip>
    <value>8302833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>242631</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>242631</Sole>
      <Shared>242631</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axcelis Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>054540208</cusip>
    <value>2164277</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11424</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11424</Sole>
      <Shared>11424</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axiom Intelligence Acquisition Corp 1 - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0750N104</cusip>
    <value>1046449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101204</Sole>
      <Shared>101204</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axon Enterprise Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05464C101</cusip>
    <value>2242440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axon Enterprise Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05464C101</cusip>
    <value>3868209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axon Enterprise Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05464C101</cusip>
    <value>1233342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axsome Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05464T104</cusip>
    <value>4638392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18950</Sole>
      <Shared>18950</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axsome Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05464T104</cusip>
    <value>1835775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axsome Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05464T104</cusip>
    <value>416109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axt Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00246W103</cusip>
    <value>2738319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37990</Sole>
      <Shared>37990</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axt Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00246W103</cusip>
    <value>1946160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27000</Sole>
      <Shared>27000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axt Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00246W103</cusip>
    <value>4303176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59700</Sole>
      <Shared>59700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Azenta Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>114340102</cusip>
    <value>3967518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155467</Sole>
      <Shared>155467</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Azz Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>002474104</cusip>
    <value>11540992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74434</Sole>
      <Shared>74434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>B2Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11777Q209</cusip>
    <value>2252082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>602161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>602161</Sole>
      <Shared>602161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Backblaze Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05637B105</cusip>
    <value>3884162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244903</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244903</Sole>
      <Shared>244903</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Badger Meter Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>056525108</cusip>
    <value>449591</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3030</Sole>
      <Shared>3030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baidu Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>056752108</cusip>
    <value>8960336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78400</Sole>
      <Shared>78400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baidu Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>056752108</cusip>
    <value>14126244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123600</Sole>
      <Shared>123600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baker Hughes Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05722G100</cusip>
    <value>244200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baker Hughes Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05722G100</cusip>
    <value>310800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ball Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>058498106</cusip>
    <value>12870749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206262</Sole>
      <Shared>206262</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ball Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>058498106</cusip>
    <value>8143200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130500</Sole>
      <Shared>130500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ballard Power Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>058586108</cusip>
    <value>142526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36639</Sole>
      <Shared>36639</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banc Of California Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05990K106</cusip>
    <value>9648803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>472286</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>472286</Sole>
      <Shared>472286</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bancfirst Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05945F103</cusip>
    <value>3342568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30078</Sole>
      <Shared>30078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banco Bilbao Vizcaya Argentaria Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>05946K101</cusip>
    <value>3474694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>138655</Sole>
      <Shared>138655</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banco Santander Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05964H105</cusip>
    <value>273240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19800</Sole>
      <Shared>19800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bancorp Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05969A105</cusip>
    <value>10855324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173297</Sole>
      <Shared>173297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bandwidth Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05988J103</cusip>
    <value>3274003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51722</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51722</Sole>
      <Shared>51722</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of America Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>060505104</cusip>
    <value>30284870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>531500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>531500</Sole>
      <Shared>531500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of America Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>060505104</cusip>
    <value>9874634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173300</Sole>
      <Shared>173300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Hawaii Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>062540109</cusip>
    <value>5433427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66676</Sole>
      <Shared>66676</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Montreal - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>063671101</cusip>
    <value>3905070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22100</Sole>
      <Shared>22100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Montreal - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>063671101</cusip>
    <value>1007190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of New York Mellon Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>064058100</cusip>
    <value>7574238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52377</Sole>
      <Shared>52377</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of New York Mellon Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064058100</cusip>
    <value>4251534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>29400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of New York Mellon Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064058100</cusip>
    <value>592901</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nova Scotia/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064149107</cusip>
    <value>1285232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>14800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nova Scotia/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064149107</cusip>
    <value>486304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nt Butterfield &amp; Son Ltd/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0772R208</cusip>
    <value>860549</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14463</Sole>
      <Shared>14463</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Ozk - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06417N103</cusip>
    <value>42196703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>810073</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>810073</Sole>
      <Shared>810073</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bankunited Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06652K103</cusip>
    <value>4918256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101512</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101512</Sole>
      <Shared>101512</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bankunited Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06652K103</cusip>
    <value>2863395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59100</Sole>
      <Shared>59100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barclays Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>06738E204</cusip>
    <value>358259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13338</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13338</Sole>
      <Shared>13338</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barclays Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06738E204</cusip>
    <value>400214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14900</Sole>
      <Shared>14900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06849F108</cusip>
    <value>3166199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86202</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86202</Sole>
      <Shared>86202</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06849F108</cusip>
    <value>532585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06849F108</cusip>
    <value>8532379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232300</Sole>
      <Shared>232300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bath &amp; Body Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>070830104</cusip>
    <value>365454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAUSCH PLUS LOMB CORP</nameOfIssuer>
    <titleOfClass>COMMON SHARES</titleOfClass>
    <cusip>071705107</cusip>
    <value>8810417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>532030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>532030</Sole>
      <Shared>532030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baxter International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>071813109</cusip>
    <value>381628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>17900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baxter International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>071813109</cusip>
    <value>296348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baytex Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07317Q105</cusip>
    <value>120668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30167</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30167</Sole>
      <Shared>30167</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BBB Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0896C103</cusip>
    <value>14034414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>336799</Sole>
      <Shared>336799</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beam Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07373V105</cusip>
    <value>1684837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49092</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49092</Sole>
      <Shared>49092</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beazer Homes Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07556Q881</cusip>
    <value>3184236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>113520</Sole>
      <Shared>113520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Becton Dickinson And Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>075887109</cusip>
    <value>378325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bed Bath &amp; Beyond Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>075896159</cusip>
    <value>14596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34753</Sole>
      <Shared>34753</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Belden Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>077454106</cusip>
    <value>616098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5138</Sole>
      <Shared>5138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Belden Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>077454106</cusip>
    <value>827379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07831C103</cusip>
    <value>12737877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>984380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>984380</Sole>
      <Shared>984380</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>07831C103</cusip>
    <value>205746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>07831C103</cusip>
    <value>278210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>21500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Benchmark Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08160H101</cusip>
    <value>13208854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133869</Sole>
      <Shared>133869</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>084670702</cusip>
    <value>50688006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101297</Sole>
      <Shared>101297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>084670702</cusip>
    <value>98226557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196300</Sole>
      <Shared>196300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>084670702</cusip>
    <value>43884203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87700</Sole>
      <Shared>87700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Best Buy Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>086516101</cusip>
    <value>3801588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50100</Sole>
      <Shared>50100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Best Buy Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>086516101</cusip>
    <value>257992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beta Bionics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08659B102</cusip>
    <value>999887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63809</Sole>
      <Shared>63809</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beyond Meat Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>08862E109</cusip>
    <value>1471800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1962400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1962400</Sole>
      <Shared>1962400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BGC Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>088929104</cusip>
    <value>499533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46729</Sole>
      <Shared>46729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bhp Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>088606108</cusip>
    <value>1657869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>19900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bhp Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>088606108</cusip>
    <value>5498460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66000</Sole>
      <Shared>66000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bilibili Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090040106</cusip>
    <value>3518398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206600</Sole>
      <Shared>206600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bilibili Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090040106</cusip>
    <value>759538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44600</Sole>
      <Shared>44600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bill Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090043100</cusip>
    <value>350752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bill Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090043100</cusip>
    <value>2831328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78300</Sole>
      <Shared>78300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Billiontoone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>090168105</cusip>
    <value>2581610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21517</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21517</Sole>
      <Shared>21517</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biocryst Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09058V103</cusip>
    <value>1951280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>195128</Sole>
      <Shared>195128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biocryst Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09058V103</cusip>
    <value>899000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89900</Sole>
      <Shared>89900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biogen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09062X103</cusip>
    <value>756210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biogen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09062X103</cusip>
    <value>280878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biohaven Ltd</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1110E107</cusip>
    <value>1380462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92773</Sole>
      <Shared>92773</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biomarin Pharmaceutical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09061G101</cusip>
    <value>526424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biontech Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09075V102</cusip>
    <value>1237565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biontech Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09075V102</cusip>
    <value>2875245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bio-Rad Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>090572207</cusip>
    <value>7340250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bio-Techne Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09073M104</cusip>
    <value>66643227</value>
    <shrsOrPrnAmt>
      <sshPrnamt>943287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>943287</Sole>
      <Shared>943287</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bioventus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09075A108</cusip>
    <value>576944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61117</Sole>
      <Shared>61117</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Birkenstock Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M2029K104</cusip>
    <value>223756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>5200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bit Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1144A105</cusip>
    <value>27425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15236</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15236</Sole>
      <Shared>15236</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bitdeer Technologies Group - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G11448100</cusip>
    <value>7177699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>452281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>452281</Sole>
      <Shared>452281</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bitdeer Technologies Group - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G11448100</cusip>
    <value>1355298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85400</Sole>
      <Shared>85400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BitMine Immersion Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09175A206</cusip>
    <value>811910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61000</Sole>
      <Shared>61000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BitMine Immersion Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09175A206</cusip>
    <value>5856400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>440000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>440000</Sole>
      <Shared>440000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bj's Wholesale Club Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05550J101</cusip>
    <value>5968116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68426</Sole>
      <Shared>68426</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bj's Wholesale Club Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05550J101</cusip>
    <value>252938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bj's Wholesale Club Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05550J101</cusip>
    <value>244216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Black Hills Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>092113109</cusip>
    <value>7081690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95184</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95184</Sole>
      <Shared>95184</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Black Rock Coffee Bar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>092244102</cusip>
    <value>1429055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>172383</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>172383</Sole>
      <Shared>172383</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackberry Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09228F103</cusip>
    <value>3903790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>308600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>308600</Sole>
      <Shared>308600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackberry Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09228F103</cusip>
    <value>1151150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91000</Sole>
      <Shared>91000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackline Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09239B109</cusip>
    <value>3043686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108432</Sole>
      <Shared>108432</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackrock Funding Inc/De - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09290D101</cusip>
    <value>16346520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>17000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackrock Funding Inc/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09290D101</cusip>
    <value>7115544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blacksky Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09263B207</cusip>
    <value>7886870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>282481</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>282481</Sole>
      <Shared>282481</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blacksky Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09263B207</cusip>
    <value>270824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09260D107</cusip>
    <value>29864646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>253800</Sole>
      <Shared>253800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09260D107</cusip>
    <value>5742296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48800</Sole>
      <Shared>48800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Mortgage Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09257W100</cusip>
    <value>2698559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159207</Sole>
      <Shared>159207</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Mortgage Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09257W100</cusip>
    <value>206790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Secured Lending Fund - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>09261X102</cusip>
    <value>1185500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blend Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09352U108</cusip>
    <value>2362565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1381617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1381617</Sole>
      <Shared>1381617</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>852234103</cusip>
    <value>34254036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450711</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>450711</Sole>
      <Shared>450711</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852234103</cusip>
    <value>20763200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273200</Sole>
      <Shared>273200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852234103</cusip>
    <value>33652800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>442800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>442800</Sole>
      <Shared>442800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>093712107</cusip>
    <value>25120770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82989</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82989</Sole>
      <Shared>82989</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093712107</cusip>
    <value>61054590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>201700</Sole>
      <Shared>201700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093712107</cusip>
    <value>6962100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23000</Sole>
      <Shared>23000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69121K104</cusip>
    <value>383711</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35300</Sole>
      <Shared>35300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09581B103</cusip>
    <value>23819784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2722261</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2722261</Sole>
      <Shared>2722261</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09581B103</cusip>
    <value>4904375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>560500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>560500</Sole>
      <Shared>560500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09581B103</cusip>
    <value>8186500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>935600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>935600</Sole>
      <Shared>935600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bluelinx Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09624H208</cusip>
    <value>312865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5056</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5056</Sole>
      <Shared>5056</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bluerock Homes Trust Inc</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09631H100</cusip>
    <value>600849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66761</Sole>
      <Shared>66761</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boeing Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>097023105</cusip>
    <value>102043309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>471397</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>471397</Sole>
      <Shared>471397</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boeing Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>097023105</cusip>
    <value>20175004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93200</Sole>
      <Shared>93200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boeing Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>097023105</cusip>
    <value>69811575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>322500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>322500</Sole>
      <Shared>322500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bok Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05561Q201</cusip>
    <value>2194998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15805</Sole>
      <Shared>15805</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booking Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09857L108</cusip>
    <value>24681249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>138472</Sole>
      <Shared>138472</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booking Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09857L108</cusip>
    <value>45932448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>257700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>257700</Sole>
      <Shared>257700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booking Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09857L108</cusip>
    <value>588192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boot Barn Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>099406100</cusip>
    <value>5211959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31728</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31728</Sole>
      <Shared>31728</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booz Allen Hamilton Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>099502106</cusip>
    <value>13404672</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220944</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220944</Sole>
      <Shared>220944</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booz Allen Hamilton Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>099502106</cusip>
    <value>357953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Borgwarner Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>099724106</cusip>
    <value>285520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Borr Drilling Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1466R173</cusip>
    <value>7346366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1778781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1778781</Sole>
      <Shared>1778781</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Beer Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>100557107</cusip>
    <value>5402425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30517</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30517</Sole>
      <Shared>30517</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Beer Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>100557107</cusip>
    <value>300951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Omaha Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>101044105</cusip>
    <value>586397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42991</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42991</Sole>
      <Shared>42991</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>101137107</cusip>
    <value>63065547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1477637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1477637</Sole>
      <Shared>1477637</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101137107</cusip>
    <value>8484784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>198800</Sole>
      <Shared>198800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101137107</cusip>
    <value>12590600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>295000</Sole>
      <Shared>295000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boyd Gaming Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>103304101</cusip>
    <value>4072455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46105</Sole>
      <Shared>46105</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bp Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>055622104</cusip>
    <value>7924075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214454</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>214454</Sole>
      <Shared>214454</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bp Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>055622104</cusip>
    <value>1588850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43000</Sole>
      <Shared>43000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bp Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>055622104</cusip>
    <value>5213645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141100</Sole>
      <Shared>141100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brady Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>104674106</cusip>
    <value>2763399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30178</Sole>
      <Shared>30178</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brandywine Realty Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>105368203</cusip>
    <value>4245850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1339385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1339385</Sole>
      <Shared>1339385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRC INC-A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05601U105</cusip>
    <value>384086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>346023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>346023</Sole>
      <Shared>346023</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bridgebio Pharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>10806X102</cusip>
    <value>5747622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77170</Sole>
      <Shared>77170</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bridgebio Pharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10806X102</cusip>
    <value>2420600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32500</Sole>
      <Shared>32500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bright Minds Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>10919W405</cusip>
    <value>582028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8291</Sole>
      <Shared>8291</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brighthouse Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>10922N103</cusip>
    <value>2822800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44594</Sole>
      <Shared>44594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brightview Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>10948C107</cusip>
    <value>361817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25534</Sole>
      <Shared>25534</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brinker International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>109641100</cusip>
    <value>655200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brink's Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>109696104</cusip>
    <value>301140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3187</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3187</Sole>
      <Shared>3187</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bristol-Myers Squibb Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110122108</cusip>
    <value>2466136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42800</Sole>
      <Shared>42800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bristol-Myers Squibb Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110122108</cusip>
    <value>4327262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75100</Sole>
      <Shared>75100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>British American Tobacco Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110448107</cusip>
    <value>203808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>British American Tobacco Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110448107</cusip>
    <value>1247552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20200</Sole>
      <Shared>20200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brixmor Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11120U105</cusip>
    <value>36064834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1143826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1143826</Sole>
      <Shared>1143826</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11135F101</cusip>
    <value>56076988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148450</Sole>
      <Shared>148450</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11135F101</cusip>
    <value>61611025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163100</Sole>
      <Shared>163100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11135F101</cusip>
    <value>172631750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>457000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>457000</Sole>
      <Shared>457000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadridge Financial Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11133T103</cusip>
    <value>60899885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>444687</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>444687</Sole>
      <Shared>444687</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadridge Financial Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11133T103</cusip>
    <value>342375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookdale Senior Living Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>112463104</cusip>
    <value>7727464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>480265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>480265</Sole>
      <Shared>480265</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Asset Management Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>113004105</cusip>
    <value>479895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>10700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11271J107</cusip>
    <value>1073012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25194</Sole>
      <Shared>25194</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11271J107</cusip>
    <value>408864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Infrastructure Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11276H106</cusip>
    <value>5604214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145564</Sole>
      <Shared>145564</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown &amp; Brown Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>115236101</cusip>
    <value>6324933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98596</Sole>
      <Shared>98596</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown &amp; Brown Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>115236101</cusip>
    <value>256600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown-Forman Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>115637209</cusip>
    <value>13758222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>516256</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>516256</Sole>
      <Shared>516256</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown-Forman Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>115637209</cusip>
    <value>242515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown-Forman Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>115637209</cusip>
    <value>205205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bruker Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>116794207</cusip>
    <value>892500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brunswick Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>117043109</cusip>
    <value>2442960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29000</Sole>
      <Shared>29000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Buckle Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>118440106</cusip>
    <value>8257527</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>195676</Sole>
      <Shared>195676</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Builders Firstsource Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12008R107</cusip>
    <value>10614654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118626</Sole>
      <Shared>118626</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Builders Firstsource Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12008R107</cusip>
    <value>3212332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35900</Sole>
      <Shared>35900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Builders Firstsource Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12008R107</cusip>
    <value>590568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bullish - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G16910120</cusip>
    <value>557634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23800</Sole>
      <Shared>23800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bumble Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12047B105</cusip>
    <value>912896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>285280</Sole>
      <Shared>285280</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bunge Global SA - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H11356104</cusip>
    <value>33271156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311732</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>311732</Sole>
      <Shared>311732</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bunge Global SA - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H11356104</cusip>
    <value>4514679</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42300</Sole>
      <Shared>42300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bunge Global SA - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H11356104</cusip>
    <value>277498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Burford Capital Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G17977110</cusip>
    <value>1641644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400401</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400401</Sole>
      <Shared>400401</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Burlington Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>122017106</cusip>
    <value>10677427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33704</Sole>
      <Shared>33704</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Burlington Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>122017106</cusip>
    <value>475200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Burlington Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>122017106</cusip>
    <value>506880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Butterfly Network Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124155102</cusip>
    <value>5312633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>630954</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>630954</Sole>
      <Shared>630954</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bwx Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05605H100</cusip>
    <value>1459875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bwx Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05605H100</cusip>
    <value>778600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BXP Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>101121101</cusip>
    <value>5132792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77406</Sole>
      <Shared>77406</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BXP Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101121101</cusip>
    <value>643207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BXP Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101121101</cusip>
    <value>470801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Byline Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124411109</cusip>
    <value>2572065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68297</Sole>
      <Shared>68297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Byrna Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12448X201</cusip>
    <value>944077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140697</Sole>
      <Shared>140697</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>C3.Ai Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12468P104</cusip>
    <value>9104399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1001584</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1001584</Sole>
      <Shared>1001584</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>C3.Ai Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12468P104</cusip>
    <value>142713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>C3.Ai Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12468P104</cusip>
    <value>519948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57200</Sole>
      <Shared>57200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cabaletta Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12674W109</cusip>
    <value>466500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cable One Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12685J105</cusip>
    <value>2558627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48176</Sole>
      <Shared>48176</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cadence Design Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>127387108</cusip>
    <value>8937495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23813</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23813</Sole>
      <Shared>23813</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cadence Design Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>127387108</cusip>
    <value>1951664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>5200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cadence Design Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>127387108</cusip>
    <value>1088428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caesars Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12769G100</cusip>
    <value>9423343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>312238</Sole>
      <Shared>312238</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caesars Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12769G100</cusip>
    <value>3135702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103900</Sole>
      <Shared>103900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caesars Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12769G100</cusip>
    <value>778644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>25800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caledonia Mining Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1757E113</cusip>
    <value>2829035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148117</Sole>
      <Shared>148117</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caleres Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>129500104</cusip>
    <value>3328755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269099</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269099</Sole>
      <Shared>269099</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Calix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>13100M509</cusip>
    <value>5323586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>142647</Sole>
      <Shared>142647</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Callaway Golf Company - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>131193104</cusip>
    <value>26801079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1426348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1426348</Sole>
      <Shared>1426348</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cal-Maine Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>128030202</cusip>
    <value>4889992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60700</Sole>
      <Shared>60700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Calumet Inc - US MLP</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>131428104</cusip>
    <value>731206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>20300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Camden Property Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>133131102</cusip>
    <value>9569990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83588</Sole>
      <Shared>83588</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cameco Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>13321L108</cusip>
    <value>803472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7888</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7888</Sole>
      <Shared>7888</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cameco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13321L108</cusip>
    <value>1731620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>17000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cameco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13321L108</cusip>
    <value>3758634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36900</Sole>
      <Shared>36900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Camtek Ltd/Israel - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M20791105</cusip>
    <value>503225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3085</Sole>
      <Shared>3085</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canada Goose Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>135086106</cusip>
    <value>4407001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>463407</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>463407</Sole>
      <Shared>463407</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Imperial Bank Of Commerce - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136069101</cusip>
    <value>3151000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27400</Sole>
      <Shared>27400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Imperial Bank Of Commerce - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136069101</cusip>
    <value>1046500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian National Railway Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136375102</cusip>
    <value>488884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Natural Resources Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>136385101</cusip>
    <value>1471810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37261</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37261</Sole>
      <Shared>37261</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Natural Resources Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136385101</cusip>
    <value>1244250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Pacific Kansas City Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13646K108</cusip>
    <value>1403730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16200</Sole>
      <Shared>16200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136635109</cusip>
    <value>1012464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63200</Sole>
      <Shared>63200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cannae Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>13765N107</cusip>
    <value>2350181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163207</Sole>
      <Shared>163207</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital Group Dividend Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>14020W106</cusip>
    <value>2310049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46876</Sole>
      <Shared>46876</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital Group Global Growth Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>14020X104</cusip>
    <value>879998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20789</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20789</Sole>
      <Shared>20789</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital Group Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>14020G101</cusip>
    <value>9029266</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191298</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>191298</Sole>
      <Shared>191298</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14040H105</cusip>
    <value>67545343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336683</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>336683</Sole>
      <Shared>336683</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14040H105</cusip>
    <value>11294906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56300</Sole>
      <Shared>56300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14040H105</cusip>
    <value>3189858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capri Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1890L107</cusip>
    <value>3548708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191099</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>191099</Sole>
      <Shared>191099</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capricor Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14070B309</cusip>
    <value>380849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15816</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15816</Sole>
      <Shared>15816</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cardinal Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>4442372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cardinal Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14149Y108</cusip>
    <value>308828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caredx Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14167L103</cusip>
    <value>736497</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25842</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25842</Sole>
      <Shared>25842</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caretrust Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14174T107</cusip>
    <value>9668344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>239612</Sole>
      <Shared>239612</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cargurus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>141788109</cusip>
    <value>4796395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140698</Sole>
      <Shared>140698</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caris Life Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>142152107</cusip>
    <value>1787827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100327</Sole>
      <Shared>100327</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlisle Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>142339100</cusip>
    <value>1632375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlyle Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14316J108</cusip>
    <value>4059404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96400</Sole>
      <Shared>96400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlyle Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14316J108</cusip>
    <value>2139188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50800</Sole>
      <Shared>50800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carmax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>143130102</cusip>
    <value>3929251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74291</Sole>
      <Shared>74291</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carmax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>143130102</cusip>
    <value>486588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carmax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>143130102</cusip>
    <value>322629</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carnival Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2004J103</cusip>
    <value>19651303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>687830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>687830</Sole>
      <Shared>687830</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carnival Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G2004J103</cusip>
    <value>6259687</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>219100</Sole>
      <Shared>219100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carnival Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G2004J103</cusip>
    <value>7751041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>271300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>271300</Sole>
      <Shared>271300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carpenter Technology Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>144285103</cusip>
    <value>23112995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37470</Sole>
      <Shared>37470</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carpenter Technology Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>144285103</cusip>
    <value>1048628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carriage Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>143905107</cusip>
    <value>1080805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28190</Sole>
      <Shared>28190</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carrier Global Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14448C104</cusip>
    <value>300735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carrier Global Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14448C104</cusip>
    <value>491445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cars.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14575E105</cusip>
    <value>3553006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>324772</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>324772</Sole>
      <Shared>324772</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carter Bankshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>146103106</cusip>
    <value>5489894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161420</Sole>
      <Shared>161420</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carvana Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>146869102</cusip>
    <value>59942274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>910700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>910700</Sole>
      <Shared>910700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carvana Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>146869102</cusip>
    <value>3264672</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49600</Sole>
      <Shared>49600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Casey's General Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>147528103</cusip>
    <value>6003049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7553</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7553</Sole>
      <Shared>7553</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Casey's General Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>147528103</cusip>
    <value>1589580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Castle Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14843C105</cusip>
    <value>344919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14462</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14462</Sole>
      <Shared>14462</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caterpillar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>149123101</cusip>
    <value>94669610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88900</Sole>
      <Shared>88900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caterpillar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>149123101</cusip>
    <value>57611090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54100</Sole>
      <Shared>54100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cava Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>148929102</cusip>
    <value>9511776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121200</Sole>
      <Shared>121200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cava Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>148929102</cusip>
    <value>635688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbiz Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124805102</cusip>
    <value>6853154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213627</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213627</Sole>
      <Shared>213627</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbl &amp; Associates Properties Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124830878</cusip>
    <value>10995258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207106</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207106</Sole>
      <Shared>207106</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cboe Global Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12503M108</cusip>
    <value>20754109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85524</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85524</Sole>
      <Shared>85524</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbre Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12504L109</cusip>
    <value>69456266</value>
    <shrsOrPrnAmt>
      <sshPrnamt>515675</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>515675</Sole>
      <Shared>515675</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbre Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12504L109</cusip>
    <value>1346900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cdw Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12514G108</cusip>
    <value>208147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1480</Sole>
      <Shared>1480</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cdw Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12514G108</cusip>
    <value>6441312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45800</Sole>
      <Shared>45800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celanese Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>150870103</cusip>
    <value>2286614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49709</Sole>
      <Shared>49709</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celanese Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>150870103</cusip>
    <value>271400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celcuity Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15102K100</cusip>
    <value>428942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celcuity Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15102K100</cusip>
    <value>596334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15101Q207</cusip>
    <value>1231930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3377</Sole>
      <Shared>3377</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15101Q207</cusip>
    <value>8828160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24200</Sole>
      <Shared>24200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15101Q207</cusip>
    <value>2298240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celsius Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15118V207</cusip>
    <value>424560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celsius Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15118V207</cusip>
    <value>3039264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103800</Sole>
      <Shared>103800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cemex Sab De Cv - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>151290889</cusip>
    <value>1391232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115936</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115936</Sole>
      <Shared>115936</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cencora Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03073E105</cusip>
    <value>20688385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73109</Sole>
      <Shared>73109</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cencora Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03073E105</cusip>
    <value>452768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cencora Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03073E105</cusip>
    <value>9564724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33800</Sole>
      <Shared>33800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cenovus Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135U109</cusip>
    <value>739338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>29800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cenovus Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135U109</cusip>
    <value>1166070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47000</Sole>
      <Shared>47000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centene Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15135B101</cusip>
    <value>17304019</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269575</Sole>
      <Shared>269575</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centene Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135B101</cusip>
    <value>1784482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>27800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centene Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135B101</cusip>
    <value>2509829</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39100</Sole>
      <Shared>39100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Garden &amp; Pet Company</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>153527106</cusip>
    <value>2135459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48161</Sole>
      <Shared>48161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Garden &amp; Pet Company - A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>153527205</cusip>
    <value>7887950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203455</Sole>
      <Shared>203455</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Pacific Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>154760409</cusip>
    <value>462755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12114</Sole>
      <Shared>12114</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centrus Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15643U104</cusip>
    <value>335740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centrus Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15643U104</cusip>
    <value>923285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centuri Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>155923105</cusip>
    <value>12349502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>408383</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>408383</Sole>
      <Shared>408383</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Century Aluminum Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>156431108</cusip>
    <value>220848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cerebras Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15675D103</cusip>
    <value>52250588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236428</Sole>
      <Shared>236428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cerebras Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15675D103</cusip>
    <value>552500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cerence Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>156727109</cusip>
    <value>806573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71252</Sole>
      <Shared>71252</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Certara Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15687V109</cusip>
    <value>3793858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>579215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>579215</Sole>
      <Shared>579215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ceva Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>157210105</cusip>
    <value>4189317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88832</Sole>
      <Shared>88832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cf Industries Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>125269100</cusip>
    <value>19162670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177006</Sole>
      <Shared>177006</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cf Industries Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125269100</cusip>
    <value>3659188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33800</Sole>
      <Shared>33800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cf Industries Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125269100</cusip>
    <value>1580596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ch Robinson Worldwide Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12541W209</cusip>
    <value>395514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ch Robinson Worldwide Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12541W209</cusip>
    <value>640356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Champion Homes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>830830105</cusip>
    <value>3005509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34107</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34107</Sole>
      <Shared>34107</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles Schwab Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>808513105</cusip>
    <value>47173683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>511257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>511257</Sole>
      <Shared>511257</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles Schwab Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>808513105</cusip>
    <value>5702286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61800</Sole>
      <Shared>61800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles Schwab Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>808513105</cusip>
    <value>1439412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15600</Sole>
      <Shared>15600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chart Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16115Q308</cusip>
    <value>7764837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37163</Sole>
      <Shared>37163</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charter Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16119P108</cusip>
    <value>2207241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15521</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15521</Sole>
      <Shared>15521</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charter Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16119P108</cusip>
    <value>3014852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21200</Sole>
      <Shared>21200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charter Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16119P108</cusip>
    <value>8418832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59200</Sole>
      <Shared>59200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chatham Lodging Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16208T102</cusip>
    <value>757695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57271</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57271</Sole>
      <Shared>57271</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Check Point Software Technologies Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M22465104</cusip>
    <value>499434</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Check Point Software Technologies Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M22465104</cusip>
    <value>460005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheesecake Factory Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>163072101</cusip>
    <value>326114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheesecake Factory Inc/The - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>163072AC5</cusip>
    <value>41982600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33000000</Sole>
      <Shared>33000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chefs' Warehouse Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>163086101</cusip>
    <value>2434886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25337</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25337</Sole>
      <Shared>25337</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chemed Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16359R103</cusip>
    <value>1586310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3406</Sole>
      <Shared>3406</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chemours Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>163851108</cusip>
    <value>4921414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239835</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>239835</Sole>
      <Shared>239835</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chemours Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>163851108</cusip>
    <value>726408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35400</Sole>
      <Shared>35400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheniere Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16411R208</cusip>
    <value>13279396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55560</Sole>
      <Shared>55560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheniere Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16411R208</cusip>
    <value>6931290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29000</Sole>
      <Shared>29000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheniere Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16411R208</cusip>
    <value>4995309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>20900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>166764100</cusip>
    <value>64156579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>387045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>387045</Sole>
      <Shared>387045</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>166764100</cusip>
    <value>37826432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228200</Sole>
      <Shared>228200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>166764100</cusip>
    <value>41224512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>248700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>248700</Sole>
      <Shared>248700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chewy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16679L109</cusip>
    <value>638350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32486</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32486</Sole>
      <Shared>32486</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chewy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16679L109</cusip>
    <value>1475715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75100</Sole>
      <Shared>75100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chewy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16679L109</cusip>
    <value>2925885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148900</Sole>
      <Shared>148900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chime Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16935C109</cusip>
    <value>4253327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207682</Sole>
      <Shared>207682</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chime Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16935C109</cusip>
    <value>737280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36000</Sole>
      <Shared>36000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chipotle Mexican Grill Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>169656105</cusip>
    <value>8006150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>235475</Sole>
      <Shared>235475</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chipotle Mexican Grill Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>169656105</cusip>
    <value>7095800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>208700</Sole>
      <Shared>208700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chipotle Mexican Grill Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>169656105</cusip>
    <value>5270000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155000</Sole>
      <Shared>155000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chiron Real Estate Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37954A303</cusip>
    <value>3544289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94464</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94464</Sole>
      <Shared>94464</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Choice Hotels International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>169905106</cusip>
    <value>13142640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119186</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119186</Sole>
      <Shared>119186</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chubb Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H1467J104</cusip>
    <value>22838780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67027</Sole>
      <Shared>67027</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chubb Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H1467J104</cusip>
    <value>3918510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Church &amp; Dwight Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>171340102</cusip>
    <value>7931469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81869</Sole>
      <Shared>81869</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Churchill Capital Corp XII - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2131M102</cusip>
    <value>1065000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Churchill Downs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171484108</cusip>
    <value>394416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Churchill Downs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171484108</cusip>
    <value>233064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cia Siderurgica Nacional Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>20440W105</cusip>
    <value>28594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31250</Sole>
      <Shared>31250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ciena Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171779309</cusip>
    <value>16384704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33400</Sole>
      <Shared>33400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ciena Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171779309</cusip>
    <value>12607392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25700</Sole>
      <Shared>25700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cigna Group/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>125523100</cusip>
    <value>24908515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90353</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90353</Sole>
      <Shared>90353</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cigna Group/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125523100</cusip>
    <value>2977344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cigna Group/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125523100</cusip>
    <value>992448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cimpress Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2143T103</cusip>
    <value>10495237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103198</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103198</Sole>
      <Shared>103198</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cincinnati Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172062101</cusip>
    <value>203654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cintas Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>172908105</cusip>
    <value>9836747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57836</Sole>
      <Shared>57836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cintas Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172908105</cusip>
    <value>918432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cintas Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172908105</cusip>
    <value>289136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cipher Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>17253J106</cusip>
    <value>7045661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>287578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>287578</Sole>
      <Shared>287578</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cipher Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17253J106</cusip>
    <value>9709350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>396300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>396300</Sole>
      <Shared>396300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cipher Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17253J106</cusip>
    <value>4054750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165500</Sole>
      <Shared>165500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Circle Internet Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172573107</cusip>
    <value>9507234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151800</Sole>
      <Shared>151800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Circle Internet Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172573107</cusip>
    <value>21525931</value>
    <shrsOrPrnAmt>
      <sshPrnamt>343700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>343700</Sole>
      <Shared>343700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc/Delaware - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>17275R102</cusip>
    <value>34488253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>293617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>293617</Sole>
      <Shared>293617</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc/Delaware - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17275R102</cusip>
    <value>53479538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>455300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>455300</Sole>
      <Shared>455300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc/Delaware - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17275R102</cusip>
    <value>93615620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>797000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>797000</Sole>
      <Shared>797000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>172967424</cusip>
    <value>16795200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120000</Sole>
      <Shared>120000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172967424</cusip>
    <value>66243068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>473300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>473300</Sole>
      <Shared>473300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172967424</cusip>
    <value>16963152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121200</Sole>
      <Shared>121200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citizens Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>174610105</cusip>
    <value>4005481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57164</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57164</Sole>
      <Shared>57164</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citizens Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>174610105</cusip>
    <value>4680676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66800</Sole>
      <Shared>66800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citizens Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>174610105</cusip>
    <value>1737736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24800</Sole>
      <Shared>24800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>City Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>177835105</cusip>
    <value>912165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6877</Sole>
      <Shared>6877</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clean Harbors Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>184496107</cusip>
    <value>5694474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19061</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19061</Sole>
      <Shared>19061</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleanspark Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18452B209</cusip>
    <value>23602603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1622172</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1622172</Sole>
      <Shared>1622172</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleanspark Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18452B209</cusip>
    <value>1466640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100800</Sole>
      <Shared>100800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleanspark Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18452B209</cusip>
    <value>3445440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236800</Sole>
      <Shared>236800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clear Secure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18467V109</cusip>
    <value>412402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearpoint Neuro Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18507C103</cusip>
    <value>3099861</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173759</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173759</Sole>
      <Shared>173759</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearwater Paper Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18538R103</cusip>
    <value>1217630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77655</Sole>
      <Shared>77655</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleveland-Cliffs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>185899101</cusip>
    <value>5889708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>627232</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>627232</Sole>
      <Shared>627232</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleveland-Cliffs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>185899101</cusip>
    <value>390624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41600</Sole>
      <Shared>41600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clorox Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>189054109</cusip>
    <value>12607051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132094</Sole>
      <Shared>132094</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clorox Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>189054109</cusip>
    <value>3025448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31700</Sole>
      <Shared>31700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clorox Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>189054109</cusip>
    <value>8818656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92400</Sole>
      <Shared>92400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cloudflare Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18915M107</cusip>
    <value>22332253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91048</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91048</Sole>
      <Shared>91048</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cloudflare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18915M107</cusip>
    <value>50184288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204600</Sole>
      <Shared>204600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cloudflare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18915M107</cusip>
    <value>4758432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>19400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clover Health Investments Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18914F103</cusip>
    <value>1446885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276123</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276123</Sole>
      <Shared>276123</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clover Health Investments Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18914F103</cusip>
    <value>2808116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>535900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>535900</Sole>
      <Shared>535900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cme Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12572Q105</cusip>
    <value>56074920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253928</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>OTR</investmentDiscretion>
    <votingAuthority>
      <Sole>253928</Sole>
      <Shared>208928</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cme Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12572Q105</cusip>
    <value>4239936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19200</Sole>
      <Shared>19200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cme Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12572Q105</cusip>
    <value>1280814</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cna Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126117100</cusip>
    <value>1429620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29410</Sole>
      <Shared>29410</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cno Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12621E103</cusip>
    <value>5756967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112926</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112926</Sole>
      <Shared>112926</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>191216100</cusip>
    <value>26355861</value>
    <shrsOrPrnAmt>
      <sshPrnamt>324300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>324300</Sole>
      <Shared>324300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>191216100</cusip>
    <value>6631632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81600</Sole>
      <Shared>81600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Consolidated Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>191098102</cusip>
    <value>572760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Codexis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192005106</cusip>
    <value>808910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>357925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>357925</Sole>
      <Shared>357925</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coeur Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192108504</cusip>
    <value>178622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10945</Sole>
      <Shared>10945</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coeur Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192108504</cusip>
    <value>3419040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209500</Sole>
      <Shared>209500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cogent Communications Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19239V302</cusip>
    <value>1933054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139269</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139269</Sole>
      <Shared>139269</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognizant Technology Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192446102</cusip>
    <value>23246985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600232</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600232</Sole>
      <Shared>600232</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognizant Technology Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192446102</cusip>
    <value>484125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognizant Technology Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192446102</cusip>
    <value>1262598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>32600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coherent Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19247G107</cusip>
    <value>44020485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111594</Sole>
      <Shared>111594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coherent Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19247G107</cusip>
    <value>6193179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coherent Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19247G107</cusip>
    <value>25403868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64400</Sole>
      <Shared>64400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cohu Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192576106</cusip>
    <value>5676436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76802</Sole>
      <Shared>76802</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coinbase Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19260Q107</cusip>
    <value>1461900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coinbase Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19260Q107</cusip>
    <value>24633015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168500</Sole>
      <Shared>168500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coinbase Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19260Q107</cusip>
    <value>25729440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176000</Sole>
      <Shared>176000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate-Palmolive Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>194162103</cusip>
    <value>14320416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156200</Sole>
      <Shared>156200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate-Palmolive Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>194162103</cusip>
    <value>357552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colliers International Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>194693107</cusip>
    <value>542857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5788</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5788</Sole>
      <Shared>5788</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbia Banking System Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>197236102</cusip>
    <value>7199552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224635</Sole>
      <Shared>224635</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbia Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>197641103</cusip>
    <value>1326632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62518</Sole>
      <Shared>62518</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbia Sportswear Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>198516106</cusip>
    <value>2059595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33316</Sole>
      <Shared>33316</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbia Sportswear Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>198516106</cusip>
    <value>3839022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62100</Sole>
      <Shared>62100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20030N101</cusip>
    <value>8463784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>344757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>344757</Sole>
      <Shared>344757</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20030N101</cusip>
    <value>5717695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232900</Sole>
      <Shared>232900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20030N101</cusip>
    <value>2042560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83200</Sole>
      <Shared>83200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comfort Systems Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>199908104</cusip>
    <value>14087701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7108</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7108</Sole>
      <Shared>7108</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Commercial Metals Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>201723103</cusip>
    <value>340356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5424</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5424</Sole>
      <Shared>5424</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Community Health Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>203668108</cusip>
    <value>999388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>299218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>299218</Sole>
      <Shared>299218</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Community Healthcare Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20369C106</cusip>
    <value>992421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54290</Sole>
      <Shared>54290</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Commvault Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>204166102</cusip>
    <value>255114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Diversified Holdings - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20451Q104</cusip>
    <value>2258737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211889</Sole>
      <Shared>211889</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Diversified Holdings - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20451Q104</cusip>
    <value>289952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27200</Sole>
      <Shared>27200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Minerals International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20451N101</cusip>
    <value>1132883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36392</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36392</Sole>
      <Shared>36392</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20454B104</cusip>
    <value>197196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90044</Sole>
      <Shared>90044</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comstock Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>205768302</cusip>
    <value>176056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conagra Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>205887102</cusip>
    <value>5685881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>422428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>422428</Sole>
      <Shared>422428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conagra Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>205887102</cusip>
    <value>1710766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127100</Sole>
      <Shared>127100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conagra Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>205887102</cusip>
    <value>1138716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84600</Sole>
      <Shared>84600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Concrete Pumping Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>206704108</cusip>
    <value>159193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13211</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13211</Sole>
      <Shared>13211</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conduent Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>206787103</cusip>
    <value>26376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18066</Sole>
      <Shared>18066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conmed Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>207410101</cusip>
    <value>762707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23303</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23303</Sole>
      <Shared>23303</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conocophillips - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20825C104</cusip>
    <value>7793050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74962</Sole>
      <Shared>74962</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conocophillips - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20825C104</cusip>
    <value>5603444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53900</Sole>
      <Shared>53900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conocophillips - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20825C104</cusip>
    <value>6424728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61800</Sole>
      <Shared>61800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Consolidated Edison Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>209115104</cusip>
    <value>320827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Consolidated Edison Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>209115104</cusip>
    <value>210197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21036P108</cusip>
    <value>11461433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82403</Sole>
      <Shared>82403</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21036P108</cusip>
    <value>3157343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22700</Sole>
      <Shared>22700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21036P108</cusip>
    <value>973630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>7000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21037T109</cusip>
    <value>26352057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106100</Sole>
      <Shared>106100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21037T109</cusip>
    <value>24290586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97800</Sole>
      <Shared>97800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellium Se - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>F21107101</cusip>
    <value>3720026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116725</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116725</Sole>
      <Shared>116725</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cooper Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>216648501</cusip>
    <value>31217873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>435335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>435335</Sole>
      <Shared>435335</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cooper-Standard Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21676P103</cusip>
    <value>835006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30869</Sole>
      <Shared>30869</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copa Holdings Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>P31076105</cusip>
    <value>14564930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93623</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93623</Sole>
      <Shared>93623</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copa Holdings Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>P31076105</cusip>
    <value>886749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copart Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>217204106</cusip>
    <value>25227795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>894920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>894920</Sole>
      <Shared>894920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>217204106</cusip>
    <value>811872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28800</Sole>
      <Shared>28800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>217204106</cusip>
    <value>270624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copt Defense Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22002T108</cusip>
    <value>6923452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>190257</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>190257</Sole>
      <Shared>190257</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corcept Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>218352102</cusip>
    <value>843415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corcept Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>218352102</cusip>
    <value>1347725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Natural Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>218937100</cusip>
    <value>1456364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21874A106</cusip>
    <value>55669663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2175446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2175446</Sole>
      <Shared>2175446</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21874A106</cusip>
    <value>10883427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>425300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>425300</Sole>
      <Shared>425300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21874A106</cusip>
    <value>783054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30600</Sole>
      <Shared>30600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corecivic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21871N101</cusip>
    <value>8401285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276540</Sole>
      <Shared>276540</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corecivic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21871N101</cusip>
    <value>1288112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42400</Sole>
      <Shared>42400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corecivic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21871N101</cusip>
    <value>1561532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51400</Sole>
      <Shared>51400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coreweave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21873S108</cusip>
    <value>63944496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>642400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>642400</Sole>
      <Shared>642400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coreweave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21873S108</cusip>
    <value>17280144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173600</Sole>
      <Shared>173600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corning Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>219350105</cusip>
    <value>94534643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>370100</Sole>
      <Shared>370100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corning Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>219350105</cusip>
    <value>13129102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51400</Sole>
      <Shared>51400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corp America Airports Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L1995B107</cusip>
    <value>216699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8606</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8606</Sole>
      <Shared>8606</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corpay Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>219948106</cusip>
    <value>14307614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42931</Sole>
      <Shared>42931</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corteva Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22052L104</cusip>
    <value>237132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corvus Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>221015100</cusip>
    <value>328560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21992</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21992</Sole>
      <Shared>21992</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corvus Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>221015100</cusip>
    <value>902376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60400</Sole>
      <Shared>60400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cosan Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>22113B103</cusip>
    <value>288000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costar Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22160N109</cusip>
    <value>17770517</value>
    <shrsOrPrnAmt>
      <sshPrnamt>627490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>627490</Sole>
      <Shared>627490</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costar Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160N109</cusip>
    <value>2084352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73600</Sole>
      <Shared>73600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costar Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160N109</cusip>
    <value>1653888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58400</Sole>
      <Shared>58400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22160K105</cusip>
    <value>18410050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19680</Sole>
      <Shared>19680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160K105</cusip>
    <value>14780426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160K105</cusip>
    <value>71095720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76000</Sole>
      <Shared>76000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coupang Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22266T109</cusip>
    <value>15528919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>894008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>894008</Sole>
      <Shared>894008</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coupang Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22266T109</cusip>
    <value>15480144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>891200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>891200</Sole>
      <Shared>891200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coupang Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22266T109</cusip>
    <value>184122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cousins Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>222795502</cusip>
    <value>12228542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>407890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>407890</Sole>
      <Shared>407890</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Covenant Logistics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22284P105</cusip>
    <value>220281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4986</Sole>
      <Shared>4986</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cra International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12618T105</cusip>
    <value>3294103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23149</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23149</Sole>
      <Shared>23149</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cracker Barrel Old Country Store Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22410J106</cusip>
    <value>1012700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>19000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credicorp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2519Y108</cusip>
    <value>615536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1580</Sole>
      <Shared>1580</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credicorp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G2519Y108</cusip>
    <value>1480404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G25457105</cusip>
    <value>30392316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111757</Sole>
      <Shared>111757</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25457105</cusip>
    <value>4487175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16500</Sole>
      <Shared>16500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25457105</cusip>
    <value>8430450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31000</Sole>
      <Shared>31000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crh Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G25508105</cusip>
    <value>17379689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162427</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162427</Sole>
      <Shared>162427</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crh Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25508105</cusip>
    <value>267500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crh Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25508105</cusip>
    <value>952300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>8900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cricut Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22658D100</cusip>
    <value>2014720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>458934</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>458934</Sole>
      <Shared>458934</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crispr Therapeutics Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H17182108</cusip>
    <value>2318604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42512</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42512</Sole>
      <Shared>42512</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crispr Therapeutics Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H17182108</cusip>
    <value>1238058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22700</Sole>
      <Shared>22700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crispr Therapeutics Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H17182108</cusip>
    <value>872640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>227046109</cusip>
    <value>2361649</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19576</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19576</Sole>
      <Shared>19576</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>227046109</cusip>
    <value>1954368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16200</Sole>
      <Shared>16200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>227046109</cusip>
    <value>663520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cronos Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22717L101</cusip>
    <value>39737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14294</Sole>
      <Shared>14294</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crowdstrike Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22788C105</cusip>
    <value>57846012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75800</Sole>
      <Shared>75800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crowdstrike Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22788C105</cusip>
    <value>52656660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69000</Sole>
      <Shared>69000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crown Castle Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22822V101</cusip>
    <value>992063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13100</Sole>
      <Shared>13100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crown Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>228368106</cusip>
    <value>4441155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39717</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39717</Sole>
      <Shared>39717</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cryoport Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>229050307</cusip>
    <value>467091</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29751</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29751</Sole>
      <Shared>29751</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cryoport Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>229050307</cusip>
    <value>314000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cs Disco Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126327105</cusip>
    <value>168123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44477</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44477</Sole>
      <Shared>44477</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Csw Industrials Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126402106</cusip>
    <value>766717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2755</Sole>
      <Shared>2755</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Csx Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126408103</cusip>
    <value>955353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Csx Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126408103</cusip>
    <value>1597008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33600</Sole>
      <Shared>33600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cubesmart - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>229663109</cusip>
    <value>6820754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171505</Sole>
      <Shared>171505</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cullen/Frost Bankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>229899109</cusip>
    <value>7655693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49545</Sole>
      <Shared>49545</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cullinan Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>230031106</cusip>
    <value>410053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22518</Sole>
      <Shared>22518</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cummins Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>231021106</cusip>
    <value>3637371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cummins Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>231021106</cusip>
    <value>784531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Curbline Properties Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23128Q101</cusip>
    <value>860290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28299</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28299</Sole>
      <Shared>28299</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Curtiss-Wright Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>231561101</cusip>
    <value>18373407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24247</Sole>
      <Shared>24247</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Custom Truck One Source Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23204X103</cusip>
    <value>339289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28729</Sole>
      <Shared>28729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvr Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12662P108</cusip>
    <value>12362376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>448888</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>448888</Sole>
      <Shared>448888</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvrx Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126638105</cusip>
    <value>1057216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205684</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>205684</Sole>
      <Shared>205684</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvs Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126650100</cusip>
    <value>38276500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>370000</Sole>
      <Shared>370000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvs Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126650100</cusip>
    <value>20596895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>199100</Sole>
      <Shared>199100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvs Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126650100</cusip>
    <value>13200220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127600</Sole>
      <Shared>127600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytek Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23285D109</cusip>
    <value>3711955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>837913</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>837913</Sole>
      <Shared>837913</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytokinetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23282W605</cusip>
    <value>7895409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92680</Sole>
      <Shared>92680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytokinetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23282W605</cusip>
    <value>11279156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132400</Sole>
      <Shared>132400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytokinetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23282W605</cusip>
    <value>1899737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22300</Sole>
      <Shared>22300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytomx Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23284F105</cusip>
    <value>5177576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1380687</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1380687</Sole>
      <Shared>1380687</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytomx Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23284F105</cusip>
    <value>188625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50300</Sole>
      <Shared>50300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dana Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>235825205</cusip>
    <value>13576892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>498967</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>498967</Sole>
      <Shared>498967</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>235851102</cusip>
    <value>19800396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103950</Sole>
      <Shared>103950</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>235851102</cusip>
    <value>3961984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>20800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>235851102</cusip>
    <value>819064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaos Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y1968P121</cusip>
    <value>819879</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darden Restaurants Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>237194105</cusip>
    <value>1339065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darling Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>237266101</cusip>
    <value>20598294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>377120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>377120</Sole>
      <Shared>377120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darling Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>237266101</cusip>
    <value>213018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darling Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>237266101</cusip>
    <value>1398272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Datadog Inc - US</nameOfIssuer>
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    <cusip>23804L103</cusip>
    <value>26873578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103217</Sole>
      <Shared>103217</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Datadog Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23804L103</cusip>
    <value>43454084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166900</Sole>
      <Shared>166900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Datadog Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23804L103</cusip>
    <value>9945752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38200</Sole>
      <Shared>38200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Datavault AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86633R609</cusip>
    <value>5714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16326</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16326</Sole>
      <Shared>16326</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave &amp; Buster's Entertainment Inc - US</nameOfIssuer>
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    <cusip>238337109</cusip>
    <value>3390919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>297449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>297449</Sole>
      <Shared>297449</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23834J201</cusip>
    <value>2570871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23834J201</cusip>
    <value>894216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Davita Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23918K108</cusip>
    <value>13325440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59895</Sole>
      <Shared>59895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Davita Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23918K108</cusip>
    <value>778680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Davita Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23918K108</cusip>
    <value>978912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deckers Outdoor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>243537107</cusip>
    <value>1131906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deere &amp; Co - US</nameOfIssuer>
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    <cusip>244199105</cusip>
    <value>7104496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>11200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deere &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>244199105</cusip>
    <value>761196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Defi Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>244916102</cusip>
    <value>30852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60000</Sole>
      <Shared>60000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Defiance Quantum ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>26922A420</cusip>
    <value>475137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2873</Sole>
      <Shared>2873</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Definium Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>24477V105</cusip>
    <value>211680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Del Monte Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G36738105</cusip>
    <value>1534576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54983</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54983</Sole>
      <Shared>54983</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delcath Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24661P807</cusip>
    <value>151609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12042</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12042</Sole>
      <Shared>12042</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delek Us Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24665A103</cusip>
    <value>3074107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60502</Sole>
      <Shared>60502</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dell Technologies Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24703L202</cusip>
    <value>14442692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33474</Sole>
      <Shared>33474</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dell Technologies Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>24703L202</cusip>
    <value>41463306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96100</Sole>
      <Shared>96100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dell Technologies Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>24703L202</cusip>
    <value>32661522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75700</Sole>
      <Shared>75700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delta Air Lines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>247361702</cusip>
    <value>25191075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>268963</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>268963</Sole>
      <Shared>268963</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delta Air Lines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>247361702</cusip>
    <value>13449576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143600</Sole>
      <Shared>143600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delta Air Lines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>247361702</cusip>
    <value>11548278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123300</Sole>
      <Shared>123300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Denali Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24823R105</cusip>
    <value>1053620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40965</Sole>
      <Shared>40965</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Designer Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>250565108</cusip>
    <value>1791827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>307346</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>307346</Sole>
      <Shared>307346</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deutsche Bank Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>D18190898</cusip>
    <value>955408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28300</Sole>
      <Shared>28300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Devon Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25179M103</cusip>
    <value>11234164</value>
    <shrsOrPrnAmt>
      <sshPrnamt>271882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>271882</Sole>
      <Shared>271882</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Devon Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25179M103</cusip>
    <value>12267908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>296900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>296900</Sole>
      <Shared>296900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Devon Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25179M103</cusip>
    <value>4809648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116400</Sole>
      <Shared>116400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dexcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>252131107</cusip>
    <value>2512155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37300</Sole>
      <Shared>37300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dexcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>252131107</cusip>
    <value>1353735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dexcom Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>252131AM9</cusip>
    <value>64651793</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69150000</Sole>
      <Shared>69150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dht Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y2065G121</cusip>
    <value>22942731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1387945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1387945</Sole>
      <Shared>1387945</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dht Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2065G121</cusip>
    <value>667812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40400</Sole>
      <Shared>40400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dht Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2065G121</cusip>
    <value>2413380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146000</Sole>
      <Shared>146000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diageo Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25243Q205</cusip>
    <value>1358422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>16900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diageo Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25243Q205</cusip>
    <value>474242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondback Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25278X109</cusip>
    <value>15282137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86939</Sole>
      <Shared>86939</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondback Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25278X109</cusip>
    <value>6503860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37000</Sole>
      <Shared>37000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondback Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25278X109</cusip>
    <value>1072258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondrock Hospitality Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>252784301</cusip>
    <value>9353960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>767977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>767977</Sole>
      <Shared>767977</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dianthus Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>252828108</cusip>
    <value>3636784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37308</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37308</Sole>
      <Shared>37308</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dick's Sporting Goods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>253393102</cusip>
    <value>2063971</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digi Power X Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25380B102</cusip>
    <value>225630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41400</Sole>
      <Shared>41400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digital Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>253868103</cusip>
    <value>20472120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114000</Sole>
      <Shared>114000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digital Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>253868103</cusip>
    <value>1831716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digital Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>253868103</cusip>
    <value>1813758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digital Turbine Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25400W102</cusip>
    <value>10254055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>794888</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>794888</Sole>
      <Shared>794888</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digitalbridge Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25401T603</cusip>
    <value>653971</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41443</Sole>
      <Shared>41443</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digitalocean Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25402D102</cusip>
    <value>14179809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90300</Sole>
      <Shared>90300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digitalocean Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25402D102</cusip>
    <value>6218388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39600</Sole>
      <Shared>39600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dime Commercial Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25432X102</cusip>
    <value>4556946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112102</Sole>
      <Shared>112102</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dimensional Emerging Core Equity Market ETF - US E</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>25434V302</cusip>
    <value>415812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10341</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10341</Sole>
      <Shared>10341</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dimensional US Core Equity 2 ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>25434V708</cusip>
    <value>355102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8005</Sole>
      <Shared>8005</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <value>1667700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45000</Sole>
      <Shared>45000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <value>411440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11102</Sole>
      <Shared>11102</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily GOOGL Bull 2X ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>25461A841</cusip>
    <value>4263750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37500</Sole>
      <Shared>37500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily MSCI South Korea Bull 3X ETF - US E</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>25461A387</cusip>
    <value>4922505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Disc Medicine Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>254604101</cusip>
    <value>2096412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28663</Sole>
      <Shared>28663</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dlocal Ltd/Uruguay - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G29018101</cusip>
    <value>205324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dmc Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23291C103</cusip>
    <value>1010859</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173986</Sole>
      <Shared>173986</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dnow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67011P100</cusip>
    <value>1032412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79600</Sole>
      <Shared>79600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docgo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256086109</cusip>
    <value>11524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22329</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22329</Sole>
      <Shared>22329</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docusign Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256163106</cusip>
    <value>484178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docusign Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256163106</cusip>
    <value>981682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22100</Sole>
      <Shared>22100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar General Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256677105</cusip>
    <value>2255465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19594</Sole>
      <Shared>19594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar General Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256677105</cusip>
    <value>1335276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar General Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256677105</cusip>
    <value>3303657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28700</Sole>
      <Shared>28700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar Tree Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256746108</cusip>
    <value>54927991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>454138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>454138</Sole>
      <Shared>454138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar Tree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256746108</cusip>
    <value>2479475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar Tree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256746108</cusip>
    <value>858745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dominion Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25746U109</cusip>
    <value>2200304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32220</Sole>
      <Shared>32220</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dominion Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25746U109</cusip>
    <value>6760710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99000</Sole>
      <Shared>99000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dominion Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25746U109</cusip>
    <value>1481893</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>21700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domino's Pizza Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25754A201</cusip>
    <value>3641292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domino's Pizza Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25754A201</cusip>
    <value>3108420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domino's Pizza Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25754A201</cusip>
    <value>1361784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Donaldson Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>257651109</cusip>
    <value>204586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2279</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2279</Sole>
      <Shared>2279</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doordash Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25809K105</cusip>
    <value>4484079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24300</Sole>
      <Shared>24300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doordash Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25809K105</cusip>
    <value>1162539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doordash Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>25809KAB1</cusip>
    <value>52281850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53000000</Sole>
      <Shared>53000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dorian Lpg Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y2106R110</cusip>
    <value>943129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27117</Sole>
      <Shared>27117</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doubleverify Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25862V105</cusip>
    <value>1853304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170969</Sole>
      <Shared>170969</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doubleverify Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25862V105</cusip>
    <value>1099176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101400</Sole>
      <Shared>101400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Douglas Dynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25960R105</cusip>
    <value>8764717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162460</Sole>
      <Shared>162460</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Douglas Emmett Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25960P109</cusip>
    <value>4122790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>349389</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>349389</Sole>
      <Shared>349389</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dover Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>260003108</cusip>
    <value>1665728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7427</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7427</Sole>
      <Shared>7427</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dover Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>260003108</cusip>
    <value>201852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>260557103</cusip>
    <value>13232582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>483647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>483647</Sole>
      <Shared>483647</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>260557103</cusip>
    <value>3488400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127500</Sole>
      <Shared>127500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>260557103</cusip>
    <value>2161440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79000</Sole>
      <Shared>79000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doximity Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26622P107</cusip>
    <value>21106040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1017649</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1017649</Sole>
      <Shared>1017649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doximity Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26622P107</cusip>
    <value>489464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23600</Sole>
      <Shared>23600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dpc Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2R11M108</cusip>
    <value>6146875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125293</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125293</Sole>
      <Shared>125293</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dr Horton Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23331A109</cusip>
    <value>36599136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224700</Sole>
      <Shared>224700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dr Horton Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23331A109</cusip>
    <value>2361760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26142V105</cusip>
    <value>15318775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>606444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>606444</Sole>
      <Shared>606444</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26142V105</cusip>
    <value>4415448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174800</Sole>
      <Shared>174800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26142V105</cusip>
    <value>315750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>26142RAB0</cusip>
    <value>69847500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75000000</Sole>
      <Shared>75000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dream Finders Homes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26154D100</cusip>
    <value>2027929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117493</Sole>
      <Shared>117493</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Driven Brands Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26210V102</cusip>
    <value>14092671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1010952</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1010952</Sole>
      <Shared>1010952</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dropbox Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26210C104</cusip>
    <value>5078242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184865</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184865</Sole>
      <Shared>184865</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duke Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26441C204</cusip>
    <value>4265746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33700</Sole>
      <Shared>33700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duke Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26441C204</cusip>
    <value>316450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duolingo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26603R106</cusip>
    <value>5330027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46340</Sole>
      <Shared>46340</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duolingo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26603R106</cusip>
    <value>2944512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duolingo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26603R106</cusip>
    <value>5463450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47500</Sole>
      <Shared>47500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dupont De Nemours Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26614N201</cusip>
    <value>868096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dupont De Nemours Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26614N201</cusip>
    <value>501868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dutch Bros Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26701L100</cusip>
    <value>5983496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83324</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83324</Sole>
      <Shared>83324</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dutch Bros Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26701L100</cusip>
    <value>2599522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36200</Sole>
      <Shared>36200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dutch Bros Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26701L100</cusip>
    <value>423679</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D-Wave Quantum Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26740W109</cusip>
    <value>2396601</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99900</Sole>
      <Shared>99900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D-Wave Quantum Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26740W109</cusip>
    <value>1377026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57400</Sole>
      <Shared>57400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dxc Technology Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23355L106</cusip>
    <value>112395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>12700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dxp Enterprises Inc/Tx - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>233377407</cusip>
    <value>3417154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20251</Sole>
      <Shared>20251</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dynatrace Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>268150109</cusip>
    <value>12571477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>286301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>286301</Sole>
      <Shared>286301</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EagleRock Land LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>27005A105</cusip>
    <value>431205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20292</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20292</Sole>
      <Shared>20292</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>East West Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>27579R104</cusip>
    <value>10161578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78717</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78717</Sole>
      <Shared>78717</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eastgroup Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>277276101</cusip>
    <value>20253000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eastman Chemical Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>277432100</cusip>
    <value>13829629</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206474</Sole>
      <Shared>206474</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eaton Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G29183103</cusip>
    <value>6391800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eaton Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G29183103</cusip>
    <value>15766440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37000</Sole>
      <Shared>37000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ebay Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278642103</cusip>
    <value>1564500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>14000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ECARX Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G29201103</cusip>
    <value>2831745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2195151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2195151</Sole>
      <Shared>2195151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Echostar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278768106</cusip>
    <value>9896250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97500</Sole>
      <Shared>97500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Echostar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278768106</cusip>
    <value>39209450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>386300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>386300</Sole>
      <Shared>386300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ecolab Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278865100</cusip>
    <value>362193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ecovyst Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>27923Q109</cusip>
    <value>2516842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>202156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>202156</Sole>
      <Shared>202156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edgewise Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>28036F105</cusip>
    <value>2313228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56934</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56934</Sole>
      <Shared>56934</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edison International - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>281020107</cusip>
    <value>11167500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edison International - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>281020107</cusip>
    <value>1034855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edwards Lifesciences Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>28176E108</cusip>
    <value>2786168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30800</Sole>
      <Shared>30800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ehang Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26853E102</cusip>
    <value>861325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131500</Sole>
      <Shared>131500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ehealth Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>28238P109</cusip>
    <value>48373</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32465</Sole>
      <Shared>32465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eikon Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>282564103</cusip>
    <value>195750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>El Pollo Loco Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>268603107</cusip>
    <value>1241726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73215</Sole>
      <Shared>73215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elanco Animal Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>28414H103</cusip>
    <value>6302818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256108</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256108</Sole>
      <Shared>256108</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elastic Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N14506104</cusip>
    <value>11617426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203743</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203743</Sole>
      <Shared>203743</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elastic Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N14506104</cusip>
    <value>4869508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85400</Sole>
      <Shared>85400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elastic Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N14506104</cusip>
    <value>1060572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18600</Sole>
      <Shared>18600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elbit Systems Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M3760D101</cusip>
    <value>379360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
      <Shared>500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eldorado Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>284902509</cusip>
    <value>323336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eldorado Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>284902509</cusip>
    <value>1585590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51000</Sole>
      <Shared>51000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Electronic Arts Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>285512109</cusip>
    <value>282262165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1376620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1376620</Sole>
      <Shared>1376620</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Electronic Arts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>285512109</cusip>
    <value>7176400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elevance Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>036752103</cusip>
    <value>1237536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elevance Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>036752103</cusip>
    <value>4370049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>11300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elf Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26856L103</cusip>
    <value>1228400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>16600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elf Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26856L103</cusip>
    <value>1716800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23200</Sole>
      <Shared>23200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>532457108</cusip>
    <value>37044396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30885</Sole>
      <Shared>30885</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532457108</cusip>
    <value>52535034</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43800</Sole>
      <Shared>43800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532457108</cusip>
    <value>28786320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>24000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elme Communities - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>939653101</cusip>
    <value>1224484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>827354</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>827354</Sole>
      <Shared>827354</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Embraer Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>29082A107</cusip>
    <value>1182278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18531</Sole>
      <Shared>18531</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Embraer Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29082A107</cusip>
    <value>210540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Embraer Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29082A107</cusip>
    <value>4172520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65400</Sole>
      <Shared>65400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emcor Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29084Q100</cusip>
    <value>23439961</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28245</Sole>
      <Shared>28245</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emcor Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29084Q100</cusip>
    <value>580916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emerson Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>291011104</cusip>
    <value>3322225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23208</Sole>
      <Shared>23208</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emerson Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>291011104</cusip>
    <value>2619645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18300</Sole>
      <Shared>18300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emerson Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>291011104</cusip>
    <value>1231090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Empire State Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>292104106</cusip>
    <value>1217759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225094</Sole>
      <Shared>225094</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enact Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29249E109</cusip>
    <value>994421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21755</Sole>
      <Shared>21755</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29250N105</cusip>
    <value>547521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29250N105</cusip>
    <value>693888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Encore Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>292554102</cusip>
    <value>1107446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11871</Sole>
      <Shared>11871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy Recovery Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29270J100</cusip>
    <value>4256583</value>
    <shrsOrPrnAmt>
      <sshPrnamt>471905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>471905</Sole>
      <Shared>471905</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy Recovery Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29270J100</cusip>
    <value>1713800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>190000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>190000</Sole>
      <Shared>190000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enerpac Tool Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>292765104</cusip>
    <value>7525974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209871</Sole>
      <Shared>209871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enersys - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29275Y102</cusip>
    <value>8474104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36242</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36242</Sole>
      <Shared>36242</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enersys - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29275Y102</cusip>
    <value>350730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enlight Renewable Energy Ltd</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M4056D110</cusip>
    <value>614238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enliven Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29337E102</cusip>
    <value>2035989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40118</Sole>
      <Shared>40118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enova International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29357K103</cusip>
    <value>1741441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7234</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7234</Sole>
      <Shared>7234</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enovis Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>194014502</cusip>
    <value>520957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25167</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25167</Sole>
      <Shared>25167</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enovix Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>293594107</cusip>
    <value>10119479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1667130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1667130</Sole>
      <Shared>1667130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enphase Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29355A107</cusip>
    <value>8889593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180536</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180536</Sole>
      <Shared>180536</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enphase Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29355A107</cusip>
    <value>6184544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125600</Sole>
      <Shared>125600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enphase Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29355A107</cusip>
    <value>15141300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>307500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>307500</Sole>
      <Shared>307500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ensign Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29358P101</cusip>
    <value>3846559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23996</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23996</Sole>
      <Shared>23996</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entegris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29362U104</cusip>
    <value>1079160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entegris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29362U104</cusip>
    <value>467636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entergy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29364G103</cusip>
    <value>1148600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Envela Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29402E102</cusip>
    <value>209496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7254</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7254</Sole>
      <Shared>7254</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enviri Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29390K102</cusip>
    <value>542165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24700</Sole>
      <Shared>24700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eog Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26875P101</cusip>
    <value>25756724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>198541</Sole>
      <Shared>198541</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eog Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26875P101</cusip>
    <value>1660544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eog Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26875P101</cusip>
    <value>1894058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eos Energy Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29415C101</cusip>
    <value>3662123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>622810</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>622810</Sole>
      <Shared>622810</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eos Energy Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29415C101</cusip>
    <value>566244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96300</Sole>
      <Shared>96300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eos Energy Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29415C101</cusip>
    <value>181692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Epam Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29414B104</cusip>
    <value>2734480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34461</Sole>
      <Shared>34461</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Epam Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29414B104</cusip>
    <value>1237860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15600</Sole>
      <Shared>15600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Epam Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29414B104</cusip>
    <value>1936140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24400</Sole>
      <Shared>24400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Epr Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26884U109</cusip>
    <value>6565862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>113185</Sole>
      <Shared>113185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eqt Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26884L109</cusip>
    <value>483847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eqt Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26884L109</cusip>
    <value>3147664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59200</Sole>
      <Shared>59200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equifax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>294429105</cusip>
    <value>18535004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116778</Sole>
      <Shared>116778</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equifax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>294429105</cusip>
    <value>301568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equillium Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29446K106</cusip>
    <value>1024320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>320100</Sole>
      <Shared>320100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinix Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29444U700</cusip>
    <value>1876302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinor Asa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>29446M102</cusip>
    <value>1627211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51822</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51822</Sole>
      <Shared>51822</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinor Asa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446M102</cusip>
    <value>1146100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36500</Sole>
      <Shared>36500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinor Asa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446M102</cusip>
    <value>254340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinox Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446Y502</cusip>
    <value>656100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67500</Sole>
      <Shared>67500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinox Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446Y502</cusip>
    <value>896184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92200</Sole>
      <Shared>92200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equitable Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29452E101</cusip>
    <value>614188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13997</Sole>
      <Shared>13997</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equity Lifestyle Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29472R108</cusip>
    <value>16147174</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250538</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250538</Sole>
      <Shared>250538</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equity Residential - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29476L107</cusip>
    <value>278513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERO Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>296006109</cusip>
    <value>2763275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103300</Sole>
      <Shared>103300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERO Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>296006109</cusip>
    <value>1781550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66600</Sole>
      <Shared>66600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERock Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>296013105</cusip>
    <value>4422529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>305002</Sole>
      <Shared>305002</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Esquire Financial Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29667J101</cusip>
    <value>1652413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13873</Sole>
      <Shared>13873</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essent Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3198U102</cusip>
    <value>21005097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>326775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>326775</Sole>
      <Shared>326775</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essential Properties Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29670E107</cusip>
    <value>43665356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1462826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1462826</Sole>
      <Shared>1462826</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essential Utilities Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29670G102</cusip>
    <value>6443244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168187</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168187</Sole>
      <Shared>168187</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>518439104</cusip>
    <value>24040591</value>
    <shrsOrPrnAmt>
      <sshPrnamt>304504</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>304504</Sole>
      <Shared>304504</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>518439104</cusip>
    <value>3331690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42200</Sole>
      <Shared>42200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>518439104</cusip>
    <value>2889570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36600</Sole>
      <Shared>36600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ethan Allen Interiors Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>297602104</cusip>
    <value>3706586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165917</Sole>
      <Shared>165917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etoro Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G32089107</cusip>
    <value>4764029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120700</Sole>
      <Shared>120700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etoro Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G32089107</cusip>
    <value>5841560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148000</Sole>
      <Shared>148000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etsy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29786A106</cusip>
    <value>24023792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>318914</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>318914</Sole>
      <Shared>318914</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etsy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29786A106</cusip>
    <value>1709991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22700</Sole>
      <Shared>22700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evercore Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29977A105</cusip>
    <value>785312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evercore Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29977A105</cusip>
    <value>682880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everforth Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00191U102</cusip>
    <value>1373059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76836</Sole>
      <Shared>76836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everpure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74624M102</cusip>
    <value>3931621</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49900</Sole>
      <Shared>49900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everpure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74624M102</cusip>
    <value>898206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everquote Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30041R108</cusip>
    <value>1007792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42362</Sole>
      <Shared>42362</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everquote Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30041R108</cusip>
    <value>1065792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>44800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eversource Energy - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30040W108</cusip>
    <value>202356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everspin Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30041T104</cusip>
    <value>1380581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57096</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57096</Sole>
      <Shared>57096</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everspin Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30041T104</cusip>
    <value>1112280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46000</Sole>
      <Shared>46000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evertec Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30040P103</cusip>
    <value>1396973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50287</Sole>
      <Shared>50287</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everus Construction Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>300426103</cusip>
    <value>15549349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93699</Sole>
      <Shared>93699</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evolent Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30050B101</cusip>
    <value>3790027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>699267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>699267</Sole>
      <Shared>699267</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evolus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30052C107</cusip>
    <value>218936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31547</Sole>
      <Shared>31547</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evolv Technologies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30049H102</cusip>
    <value>3137510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>540950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>540950</Sole>
      <Shared>540950</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ew Scripps Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>811054402</cusip>
    <value>1187646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>428753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>428753</Sole>
      <Shared>428753</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelixis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30161Q104</cusip>
    <value>252027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4632</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4632</Sole>
      <Shared>4632</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelixis Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30161Q104</cusip>
    <value>418957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelon Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30161N101</cusip>
    <value>568904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12203</Sole>
      <Shared>12203</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelon Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30161N101</cusip>
    <value>540792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelon Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30161N101</cusip>
    <value>372960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exlservice Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302081104</cusip>
    <value>32520269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1257551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1257551</Sole>
      <Shared>1257551</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expand Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>165167735</cusip>
    <value>18548046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203400</Sole>
      <Shared>203400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expand Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>165167735</cusip>
    <value>9921472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108800</Sole>
      <Shared>108800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expedia Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30212P303</cusip>
    <value>6397000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expeditors International Of Washington Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302130109</cusip>
    <value>13641752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83702</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83702</Sole>
      <Shared>83702</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Extra Space Storage Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30225T102</cusip>
    <value>24660171</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169719</Sole>
      <Shared>169719</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Extreme Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30226D106</cusip>
    <value>7661299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236679</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236679</Sole>
      <Shared>236679</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ExxonMobil Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30231G102</cusip>
    <value>154985792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1133600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1133600</Sole>
      <Shared>1133600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ExxonMobil Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30231G102</cusip>
    <value>43777744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>320200</Sole>
      <Shared>320200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exzeo Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30234F101</cusip>
    <value>829144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49149</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49149</Sole>
      <Shared>49149</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EyePoint Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30233G209</cusip>
    <value>239511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16749</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16749</Sole>
      <Shared>16749</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ezcorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302301106</cusip>
    <value>18196645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>526371</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>526371</Sole>
      <Shared>526371</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5 Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>315616102</cusip>
    <value>18588836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44689</Sole>
      <Shared>44689</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fabrinet - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3323L100</cusip>
    <value>58013401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103212</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103212</Sole>
      <Shared>103212</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fabrinet - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3323L100</cusip>
    <value>224832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Factset Research Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>303075105</cusip>
    <value>368128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fair Isaac Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>303250104</cusip>
    <value>2031126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fair Isaac Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>303250104</cusip>
    <value>597390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
      <Shared>500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Farmland Partners Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31154R109</cusip>
    <value>3445683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>355959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>355959</Sole>
      <Shared>355959</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastenal Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>311900104</cusip>
    <value>13014737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270971</Sole>
      <Shared>270971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastenal Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>311900104</cusip>
    <value>489906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastly Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31188V100</cusip>
    <value>3017172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>164334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>164334</Sole>
      <Shared>164334</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastly Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31188V100</cusip>
    <value>2245428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122300</Sole>
      <Shared>122300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastly Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31188V100</cusip>
    <value>2012256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109600</Sole>
      <Shared>109600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Federal Realty Investment Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>313745101</cusip>
    <value>2803322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22710</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22710</Sole>
      <Shared>22710</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Federal Signal Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>313855108</cusip>
    <value>12285571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95615</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95615</Sole>
      <Shared>95615</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31428X106</cusip>
    <value>6839699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21843</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21843</Sole>
      <Shared>21843</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31428X106</cusip>
    <value>2724231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31428X106</cusip>
    <value>2191910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>7000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Freight Holding Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>314352105</cusip>
    <value>4619543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30593</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30593</Sole>
      <Shared>30593</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferguson Enterprises INC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31488V107</cusip>
    <value>6837003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28808</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28808</Sole>
      <Shared>28808</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fermi Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>314911108</cusip>
    <value>2464040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269000</Sole>
      <Shared>269000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrari Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N3167Y103</cusip>
    <value>800796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2151</Sole>
      <Shared>2151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrari Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N3167Y103</cusip>
    <value>1005183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrari Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N3167Y103</cusip>
    <value>2903862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7800</Sole>
      <Shared>7800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrovial NV - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N3168P101</cusip>
    <value>7218801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105215</Sole>
      <Shared>105215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fervo Energy Co - A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31556C106</cusip>
    <value>9080095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>310643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>310643</Sole>
      <Shared>310643</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity MSCI Information Technology Index ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>316092808</cusip>
    <value>308141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1079</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1079</Sole>
      <Shared>1079</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31620R303</cusip>
    <value>6494639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137715</Sole>
      <Shared>137715</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Information Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31620M106</cusip>
    <value>12466600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>320643</Sole>
      <Shared>320643</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Information Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31620M106</cusip>
    <value>629856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16200</Sole>
      <Shared>16200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Information Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31620M106</cusip>
    <value>419904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fifth Third Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316773100</cusip>
    <value>4306668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76400</Sole>
      <Shared>76400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fifth Third Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316773100</cusip>
    <value>1099215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19500</Sole>
      <Shared>19500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316841105</cusip>
    <value>615060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34000</Sole>
      <Shared>34000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316841105</cusip>
    <value>4091958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>226200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>226200</Sole>
      <Shared>226200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30260D103</cusip>
    <value>5862680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>573087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>573087</Sole>
      <Shared>573087</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figure Technology Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>349381103</cusip>
    <value>1578494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51400</Sole>
      <Shared>51400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figure Technology Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>349381103</cusip>
    <value>614200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firefly Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31816X106</cusip>
    <value>763253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25961</Sole>
      <Shared>25961</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firefly Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity (When-Issued)</titleOfClass>
    <cusip>31816X106</cusip>
    <value>14073721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>478698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>478698</Sole>
      <Shared>478698</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Bancorp/Puerto Rico - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>318672706</cusip>
    <value>4835073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185465</Sole>
      <Shared>185465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Citizens Bancshares Inc/Nc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31946M103</cusip>
    <value>2630119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1264</Sole>
      <Shared>1264</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Financial Bankshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32020R109</cusip>
    <value>5834771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168635</Sole>
      <Shared>168635</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Hawaiian Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32051X108</cusip>
    <value>3539967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120818</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120818</Sole>
      <Shared>120818</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Horizon Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>320517105</cusip>
    <value>33266387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1297441</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1297441</Sole>
      <Shared>1297441</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Horizon Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>320517105</cusip>
    <value>7368936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>287400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>287400</Sole>
      <Shared>287400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Industrial Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32054K103</cusip>
    <value>2713274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44255</Sole>
      <Shared>44255</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Majestic Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32076V103</cusip>
    <value>3801771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224161</Sole>
      <Shared>224161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Majestic Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>32076V103</cusip>
    <value>5679904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>334900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>334900</Sole>
      <Shared>334900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Mid Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>320866106</cusip>
    <value>2552810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53084</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53084</Sole>
      <Shared>53084</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>336433107</cusip>
    <value>13520508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57300</Sole>
      <Shared>57300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>336433107</cusip>
    <value>28857908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122300</Sole>
      <Shared>122300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust Capital Strength ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33733E104</cusip>
    <value>8287970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88245</Sole>
      <Shared>88245</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust NASDAQ Clean Edge Smart Grid Infrastru</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33737A108</cusip>
    <value>342274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1785</Sole>
      <Shared>1785</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust Natural Gas Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33733E807</cusip>
    <value>1431033</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53778</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53778</Sole>
      <Shared>53778</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust RBA American Industrial Renaissance ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33738R704</cusip>
    <value>1239758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9304</Sole>
      <Shared>9304</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Watch Restaurant Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>33748L101</cusip>
    <value>3708801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>287727</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>287727</Sole>
      <Shared>287727</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firstenergy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>337932107</cusip>
    <value>16830586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>354030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>354030</Sole>
      <Shared>354030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firstenergy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337932107</cusip>
    <value>3246982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68300</Sole>
      <Shared>68300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firstenergy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337932107</cusip>
    <value>247208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>5200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiserv Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337738108</cusip>
    <value>5400405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110100</Sole>
      <Shared>110100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiserv Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337738108</cusip>
    <value>20139930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>410600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>410600</Sole>
      <Shared>410600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five Below Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>33829M101</cusip>
    <value>19616707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109109</Sole>
      <Shared>109109</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five Below Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>33829M101</cusip>
    <value>431496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five9 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>338307101</cusip>
    <value>3319524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155700</Sole>
      <Shared>155700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five9 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>338307101</cusip>
    <value>880516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41300</Sole>
      <Shared>41300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiverr International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M4R82T106</cusip>
    <value>172344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiverr International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M4R82T106</cusip>
    <value>147576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14300</Sole>
      <Shared>14300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flagstar Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>649445400</cusip>
    <value>30078299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2013273</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2013273</Sole>
      <Shared>2013273</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flagstar Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>649445400</cusip>
    <value>826182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55300</Sole>
      <Shared>55300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flagstar Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>649445400</cusip>
    <value>714132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47800</Sole>
      <Shared>47800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLEX LNG Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G35947202</cusip>
    <value>6286310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224031</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224031</Sole>
      <Shared>224031</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flex Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y2573F102</cusip>
    <value>9793890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60430</Sole>
      <Shared>60430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flex Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2573F102</cusip>
    <value>1150697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flex Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2573F102</cusip>
    <value>5785899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35700</Sole>
      <Shared>35700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Floor &amp; Decor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>339750101</cusip>
    <value>1567104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26400</Sole>
      <Shared>26400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Floor &amp; Decor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>339750101</cusip>
    <value>362096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flowserve Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34354P105</cusip>
    <value>7498614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101114</Sole>
      <Shared>101114</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flowserve Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34354P105</cusip>
    <value>252144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluence Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34379V103</cusip>
    <value>847087</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42610</Sole>
      <Shared>42610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluence Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34379V103</cusip>
    <value>5956048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>299600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>299600</Sole>
      <Shared>299600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluence Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34379V103</cusip>
    <value>665980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33500</Sole>
      <Shared>33500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>343412102</cusip>
    <value>1786499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34100</Sole>
      <Shared>34100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flutter Entertainment PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3643J108</cusip>
    <value>5299456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51869</Sole>
      <Shared>51869</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flutter Entertainment PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3643J108</cusip>
    <value>2646203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>25900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flutter Entertainment PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3643J108</cusip>
    <value>7734269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75700</Sole>
      <Shared>75700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fmc Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302491303</cusip>
    <value>3381955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>294083</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>294083</Sole>
      <Shared>294083</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fmc Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302491303</cusip>
    <value>173650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15100</Sole>
      <Shared>15100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fnb Corp/Pa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302520101</cusip>
    <value>4895565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256581</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256581</Sole>
      <Shared>256581</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ford Motor Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>345370860</cusip>
    <value>2540920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>182800</Sole>
      <Shared>182800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ford Motor Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>345370860</cusip>
    <value>3519480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>253200</Sole>
      <Shared>253200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forgent Power Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34631F102</cusip>
    <value>14621914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261760</Sole>
      <Shared>261760</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forgent Power Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34631F102</cusip>
    <value>15607284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279400</Sole>
      <Shared>279400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forgent Power Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34631F102</cusip>
    <value>5586000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Formfactor Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>346375108</cusip>
    <value>40287167</value>
    <shrsOrPrnAmt>
      <sshPrnamt>251905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>251905</Sole>
      <Shared>251905</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortinet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34959E109</cusip>
    <value>58611714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>381537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>381537</Sole>
      <Shared>381537</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortinet Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34959E109</cusip>
    <value>17942816</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116800</Sole>
      <Shared>116800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortinet Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34959E109</cusip>
    <value>22351710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145500</Sole>
      <Shared>145500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortive Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34959J108</cusip>
    <value>2053540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33615</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33615</Sole>
      <Shared>33615</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortrea Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34965K107</cusip>
    <value>1003893</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57695</Sole>
      <Shared>57695</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortune Brands Innovations Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34964C106</cusip>
    <value>702116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12789</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12789</Sole>
      <Shared>12789</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forum Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68236V401</cusip>
    <value>54300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forward Air Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34986A104</cusip>
    <value>4635686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>343130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>343130</Sole>
      <Shared>343130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Four Corners Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35086T109</cusip>
    <value>7589657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>309151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>309151</Sole>
      <Shared>309151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fox Corp - Class A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35137L105</cusip>
    <value>24627866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>472160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>472160</Sole>
      <Shared>472160</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fox Corp - Class A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35137L105</cusip>
    <value>302528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fox Corp- Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35137L204</cusip>
    <value>410037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8754</Sole>
      <Shared>8754</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franco-Nevada Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>351858105</cusip>
    <value>1460122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7005</Sole>
      <Shared>7005</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franco-Nevada Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>351858105</cusip>
    <value>3126600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franklin Financial Services Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>353525108</cusip>
    <value>455102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7270</Sole>
      <Shared>7270</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franklin FTSE Japan ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>35473P744</cusip>
    <value>506097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12732</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12732</Sole>
      <Shared>12732</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franklin Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>354613101</cusip>
    <value>2634984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79200</Sole>
      <Shared>79200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freeport-Mcmoran Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35671D857</cusip>
    <value>2209011</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35125</Sole>
      <Shared>35125</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freeport-Mcmoran Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35671D857</cusip>
    <value>12697491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>201900</Sole>
      <Shared>201900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freeport-Mcmoran Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35671D857</cusip>
    <value>56481509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>898100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>898100</Sole>
      <Shared>898100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontier Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35909R108</cusip>
    <value>12795809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1617675</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1617675</Sole>
      <Shared>1617675</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontline PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M46528101</cusip>
    <value>24092736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>692519</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>692519</Sole>
      <Shared>692519</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontline PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M46528101</cusip>
    <value>351379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontline PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M46528101</cusip>
    <value>612304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17600</Sole>
      <Shared>17600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fs Kkr Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302635206</cusip>
    <value>485100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46200</Sole>
      <Shared>46200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FTAI Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35953C106</cusip>
    <value>1642866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>354066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>354066</Sole>
      <Shared>354066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fti Consulting Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302941109</cusip>
    <value>6903186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46327</Sole>
      <Shared>46327</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FuboTV Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35953D401</cusip>
    <value>820631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89199</Sole>
      <Shared>89199</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fuelcell Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35952H700</cusip>
    <value>14109834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>391831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>391831</Sole>
      <Shared>391831</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fuelcell Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35952H700</cusip>
    <value>464529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fulgent Genetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>359664109</cusip>
    <value>1677038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81727</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81727</Sole>
      <Shared>81727</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Futu Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>36118L106</cusip>
    <value>4472054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47707</Sole>
      <Shared>47707</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Futu Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36118L106</cusip>
    <value>1537336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16400</Sole>
      <Shared>16400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Futu Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36118L106</cusip>
    <value>16320134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174100</Sole>
      <Shared>174100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Futurefuel Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36116M106</cusip>
    <value>892989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>197564</Sole>
      <Shared>197564</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Galaxy Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36317J209</cusip>
    <value>453844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>16600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Galaxy Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36317J209</cusip>
    <value>401898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36467W109</cusip>
    <value>19823424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>897800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>897800</Sole>
      <Shared>897800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36467W109</cusip>
    <value>1128288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51100</Sole>
      <Shared>51100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>36467W117</cusip>
    <value>51612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18499</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18499</Sole>
      <Shared>18499</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>36467WAE9</cusip>
    <value>64404900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63000000</Sole>
      <Shared>63000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>36467WAG4</cusip>
    <value>14217000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14000000</Sole>
      <Shared>14000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gaming And Leisure Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36467J108</cusip>
    <value>23303751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>523327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>523327</Sole>
      <Shared>523327</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gap Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>364760108</cusip>
    <value>3089635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165398</Sole>
      <Shared>165398</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gap Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>364760108</cusip>
    <value>373600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garmin Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H2906T109</cusip>
    <value>22225430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93565</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93565</Sole>
      <Shared>93565</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garmin Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2906T109</cusip>
    <value>688866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garrett Motion Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>366505105</cusip>
    <value>8408621</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232090</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232090</Sole>
      <Shared>232090</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gartner Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>366651107</cusip>
    <value>22817657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176035</Sole>
      <Shared>176035</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gartner Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>366651107</cusip>
    <value>492556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gartner Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>366651107</cusip>
    <value>272202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gates Industrial Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G39108108</cusip>
    <value>627563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22437</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22437</Sole>
      <Shared>22437</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gates Industrial Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G39108108</cusip>
    <value>142647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gates Industrial Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G39108108</cusip>
    <value>44752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gatx Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>361448103</cusip>
    <value>27462678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154990</Sole>
      <Shared>154990</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GCT Semiconductor Holding Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36170N107</cusip>
    <value>2430900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>818485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>818485</Sole>
      <Shared>818485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gds Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36165L108</cusip>
    <value>297297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE HealthCare Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36266G107</cusip>
    <value>3494946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54600</Sole>
      <Shared>54600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE HealthCare Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36266G107</cusip>
    <value>294446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Vernova LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36828A101</cusip>
    <value>22557312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19200</Sole>
      <Shared>19200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Vernova LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36828A101</cusip>
    <value>68259366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58100</Sole>
      <Shared>58100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gemini Space Station Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36866J105</cusip>
    <value>1160492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>272416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>272416</Sole>
      <Shared>272416</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc - CVR</nameOfIssuer>
    <titleOfClass>Contingent Value Rights</titleOfClass>
    <cusip>668771116</cusip>
    <value>292397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>231144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>231144</Sole>
      <Shared>231144</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>668771108</cusip>
    <value>1381395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55500</Sole>
      <Shared>55500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GeneDx Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81663L200</cusip>
    <value>7471797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108839</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108839</Sole>
      <Shared>108839</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GeneDx Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81663L200</cusip>
    <value>1057210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15400</Sole>
      <Shared>15400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Generac Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>368736104</cusip>
    <value>10108387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34522</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34522</Sole>
      <Shared>34522</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Generac Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>368736104</cusip>
    <value>2752414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Generac Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>368736104</cusip>
    <value>936992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>369550108</cusip>
    <value>19726209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55686</Sole>
      <Shared>55686</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369550108</cusip>
    <value>4428000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369550108</cusip>
    <value>1133568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>369604301</cusip>
    <value>17066754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45666</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45666</Sole>
      <Shared>45666</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369604301</cusip>
    <value>10950289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29300</Sole>
      <Shared>29300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369604301</cusip>
    <value>11361392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30400</Sole>
      <Shared>30400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Mills Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>370334104</cusip>
    <value>3424320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98400</Sole>
      <Shared>98400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Mills Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>370334104</cusip>
    <value>5898600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169500</Sole>
      <Shared>169500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37045V100</cusip>
    <value>19019490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>246750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>246750</Sole>
      <Shared>246750</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37045V100</cusip>
    <value>8555880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111000</Sole>
      <Shared>111000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37045V100</cusip>
    <value>5626840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73000</Sole>
      <Shared>73000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genpact Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3922B107</cusip>
    <value>9027838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>328285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>328285</Sole>
      <Shared>328285</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genuine Parts Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>372460105</cusip>
    <value>342142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Geo Group Inc/The - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36162J106</cusip>
    <value>7664088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>259360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>259360</Sole>
      <Shared>259360</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Geo Group Inc/The - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36162J106</cusip>
    <value>4621620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156400</Sole>
      <Shared>156400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Geo Group Inc/The - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36162J106</cusip>
    <value>7035855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238100</Sole>
      <Shared>238100</Shared>
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      <sshPrnamt>41831</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41831</Sole>
      <Shared>41831</Shared>
      <None>0</None>
    </votingAuthority>
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    <shrsOrPrnAmt>
      <sshPrnamt>71594</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71594</Sole>
      <Shared>71594</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Getty Realty Corp - US REIT</nameOfIssuer>
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    <cusip>374297109</cusip>
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      <sshPrnamt>84942</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84942</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Gh Research Plc - US</nameOfIssuer>
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      <sshPrnamt>34278</sshPrnamt>
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    <votingAuthority>
      <Sole>34278</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>G-Iii Apparel Group Ltd - US</nameOfIssuer>
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      <sshPrnamt>178324</sshPrnamt>
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    <votingAuthority>
      <Sole>178324</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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      <sshPrnamt>12118</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12118</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>20200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20200</Sole>
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      <None>0</None>
    </votingAuthority>
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      <sshPrnamt>74896</sshPrnamt>
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    <votingAuthority>
      <Sole>74896</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>222900</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222900</Sole>
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      <None>0</None>
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  <infoTable>
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    <cusip>375558103</cusip>
    <value>1099158</value>
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      <sshPrnamt>8700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ginkgo Bioworks Holdings Inc - US</nameOfIssuer>
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    <cusip>37611X209</cusip>
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      <sshPrnamt>335710</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>335710</Sole>
      <Shared>335710</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Gitlab Inc - US</nameOfIssuer>
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    <cusip>37637K108</cusip>
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      <sshPrnamt>59202</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59202</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>37637K108</cusip>
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      <sshPrnamt>71000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71000</Sole>
      <Shared>71000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Gitlab Inc - US</nameOfIssuer>
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    <cusip>37637K108</cusip>
    <value>2595050</value>
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      <sshPrnamt>85000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85000</Sole>
      <Shared>85000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>376546107</cusip>
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      <sshPrnamt>120964</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120964</Sole>
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      <None>0</None>
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    <nameOfIssuer>Gladstone Land Corp - US REIT</nameOfIssuer>
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    <cusip>376549101</cusip>
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      <sshPrnamt>11752</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11752</Sole>
      <Shared>11752</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Global Industrial Co - US</nameOfIssuer>
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    <cusip>37892E102</cusip>
    <value>2685433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80258</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80258</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Global Net Lease Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>379378201</cusip>
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      <sshPrnamt>290979</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>290979</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Global Payments Inc - US</nameOfIssuer>
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      <sshPrnamt>33400</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33400</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>164300</Sole>
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    <votingAuthority>
      <Sole>9091</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600000</Sole>
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      <None>0</None>
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    <nameOfIssuer>Global X Cybersecurity ETF - US ETP</nameOfIssuer>
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      <sshPrnamt>50000</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
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      <None>0</None>
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    <nameOfIssuer>Global X Defense Tech ETF - US ETP</nameOfIssuer>
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      <sshPrnamt>10762</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10762</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Global X US Infrastructure Development ETF - US ET</nameOfIssuer>
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    <cusip>37954Y673</cusip>
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      <sshPrnamt>68816</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68816</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>21987</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>21987</Sole>
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      <sshPrnamt>459322</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>459322</Sole>
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  <infoTable>
    <nameOfIssuer>Globalfoundries Inc - US</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>62800</Sole>
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      <sshPrnamt>57200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57200</Sole>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>112800</Sole>
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      <sshPrnamt>26800</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>26800</Sole>
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      <sshPrnamt>7200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>7200</Sole>
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      <sshPrnamt>1300</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>242364</Sole>
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      <sshPrnamt>284148</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>284148</Sole>
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  <infoTable>
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      <sshPrnamt>5500</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
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      <None>0</None>
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      <sshPrnamt>5300</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Gogo Inc - US</nameOfIssuer>
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    <cusip>38046C109</cusip>
    <value>3462647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1116983</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1116983</Sole>
      <Shared>1116983</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Golar Lng Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9456A100</cusip>
    <value>8631341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173181</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173181</Sole>
      <Shared>173181</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Golar Lng Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9456A100</cusip>
    <value>358848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold Fields Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>38059T106</cusip>
    <value>2226480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66284</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66284</Sole>
      <Shared>66284</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold Fields Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38059T106</cusip>
    <value>450106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38141G104</cusip>
    <value>68099588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67334</Sole>
      <Shared>67334</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38141G104</cusip>
    <value>161616926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159800</Sole>
      <Shared>159800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38141G104</cusip>
    <value>101238137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100100</Sole>
      <Shared>100100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Physical Gold ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>38150K103</cusip>
    <value>1442089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36444</Sole>
      <Shared>36444</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Goodyear Tire &amp; Rubber Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>382550101</cusip>
    <value>6522193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>988211</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>988211</Sole>
      <Shared>988211</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Goosehead Insurance Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38267D109</cusip>
    <value>5710196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117736</Sole>
      <Shared>117736</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gorilla Technology Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4000K175</cusip>
    <value>1347864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67800</Sole>
      <Shared>67800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gorilla Technology Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4000K175</cusip>
    <value>337960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>17000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gorman-Rupp Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>383082104</cusip>
    <value>3092372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33708</Sole>
      <Shared>33708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gorman-Rupp Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>383082104</cusip>
    <value>7706160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84000</Sole>
      <Shared>84000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gossamer Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38341P102</cusip>
    <value>78939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>479581</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>479581</Sole>
      <Shared>479581</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAB HOLDINGS LTD - CL A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4124C109</cusip>
    <value>565500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graco Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>384109104</cusip>
    <value>11825253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156398</Sole>
      <Shared>156398</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graftech International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>384313607</cusip>
    <value>87391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14787</Sole>
      <Shared>14787</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384747101</cusip>
    <value>266253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Grand Canyon Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38526M106</cusip>
    <value>8709675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60860</Sole>
      <Shared>60860</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Granite Construction Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>387328107</cusip>
    <value>8734868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55256</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55256</Sole>
      <Shared>55256</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graphic Packaging Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>388689101</cusip>
    <value>3000485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>283868</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>283868</Sole>
      <Shared>283868</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Green Dot Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39304D102</cusip>
    <value>1490221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110305</Sole>
      <Shared>110305</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Green Plains Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>393222104</cusip>
    <value>9137566</value>
    <shrsOrPrnAmt>
      <sshPrnamt>594120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>594120</Sole>
      <Shared>594120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Greenbrier Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>393657101</cusip>
    <value>11978387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244407</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244407</Sole>
      <Shared>244407</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Grindr Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39854F101</cusip>
    <value>6610200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>460000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>460000</Sole>
      <Shared>460000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grindr Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>39854F101</cusip>
    <value>168129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>11700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Grocery Outlet Holding Corp - US</nameOfIssuer>
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    <cusip>39874R101</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>463551</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>463551</Sole>
      <Shared>463551</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Group 1 Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>398905109</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>58136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58136</Sole>
      <Shared>58136</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Grupo Financiero Galicia Sa - US ADR</nameOfIssuer>
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    <value>354563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7087</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7087</Sole>
      <Shared>7087</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Grupo Financiero Galicia Sa - US ADR</nameOfIssuer>
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    <cusip>399909100</cusip>
    <value>2011206</value>
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      <sshPrnamt>40200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40200</Sole>
      <Shared>40200</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Grupo Financiero Galicia Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>399909100</cusip>
    <value>4857913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97100</Sole>
      <Shared>97100</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GSK PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37733W204</cusip>
    <value>209680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Guidewire Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40171V100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Guidewire Software Inc - US</nameOfIssuer>
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    <cusip>40171V100</cusip>
    <value>442980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gxo Logistics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36262G101</cusip>
    <value>238290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>H&amp;R Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093671105</cusip>
    <value>289408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>7600</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>HA Sustainable Infrastructure Capital Inc - US REI</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>41068X100</cusip>
    <value>6712695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171900</Sole>
      <Shared>171900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hain Celestial Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>405217100</cusip>
    <value>205564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366948</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366948</Sole>
      <Shared>366948</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Haleon PLC - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>405552100</cusip>
    <value>7117642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>762877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>762877</Sole>
      <Shared>762877</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hallador Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>40609P105</cusip>
    <value>6448873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370838</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>370838</Sole>
      <Shared>370838</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hallador Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40609P105</cusip>
    <value>1772041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101900</Sole>
      <Shared>101900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halliburton Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>406216101</cusip>
    <value>35434226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1043718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1043718</Sole>
      <Shared>1043718</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halliburton Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>406216101</cusip>
    <value>3822770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112600</Sole>
      <Shared>112600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hamilton Insurance Group Ltd - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G42706104</cusip>
    <value>573824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16907</Sole>
      <Shared>16907</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hamilton Lane Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>407497106</cusip>
    <value>9043141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114717</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114717</Sole>
      <Shared>114717</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Happen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52603A208</cusip>
    <value>580720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28000</Sole>
      <Shared>28000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harley-Davidson Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>412822108</cusip>
    <value>1836604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75086</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75086</Sole>
      <Shared>75086</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harley-Davidson Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>412822108</cusip>
    <value>286182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>11700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harley-Davidson Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>412822108</cusip>
    <value>574810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23500</Sole>
      <Shared>23500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harmony Gold Mining Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>413216300</cusip>
    <value>374166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24600</Sole>
      <Shared>24600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harrow Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>415858109</cusip>
    <value>487556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11480</Sole>
      <Shared>11480</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harrow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>415858109</cusip>
    <value>420453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hartford Insurance Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>416515104</cusip>
    <value>62229934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>469589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>469589</Sole>
      <Shared>469589</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hasbro Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>418056107</cusip>
    <value>280806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hca Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40412C101</cusip>
    <value>11150854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>28600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hca Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40412C101</cusip>
    <value>3002153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hdfc Bank Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>40415F101</cusip>
    <value>47117872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1824153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1824153</Sole>
      <Shared>1824153</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthcare Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42226K105</cusip>
    <value>615326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30507</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30507</Sole>
      <Shared>30507</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthcare Services Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>421906108</cusip>
    <value>1251553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50959</Sole>
      <Shared>50959</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthpeak Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42250P103</cusip>
    <value>18199159</value>
    <shrsOrPrnAmt>
      <sshPrnamt>850428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>850428</Sole>
      <Shared>850428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hecla Mining Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>422704106</cusip>
    <value>15072255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>976815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>976815</Sole>
      <Shared>976815</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hecla Mining Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>422704106</cusip>
    <value>668119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43300</Sole>
      <Shared>43300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hecla Mining Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>422704106</cusip>
    <value>12868620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>834000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>834000</Sole>
      <Shared>834000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Heico Corp.-NEW</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>422806109</cusip>
    <value>249333</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helen Of Troy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4388N106</cusip>
    <value>515818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17744</Sole>
      <Shared>17744</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helios Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42328H109</cusip>
    <value>12669305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141953</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141953</Sole>
      <Shared>141953</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helix Energy Solutions Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42330P107</cusip>
    <value>5857959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>670247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>670247</Sole>
      <Shared>670247</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Henry Schein Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>806407102</cusip>
    <value>1120671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13418</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13418</Sole>
      <Shared>13418</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Herc Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42704L104</cusip>
    <value>5657200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39467</Sole>
      <Shared>39467</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Heritage Insurance Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42727J102</cusip>
    <value>912800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hershey Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>427866108</cusip>
    <value>3087920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17600</Sole>
      <Shared>17600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hershey Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>427866108</cusip>
    <value>1035155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hertz Global Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42806J700</cusip>
    <value>822671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>363210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>363210</Sole>
      <Shared>363210</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hertz Global Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42806J700</cusip>
    <value>592525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261600</Sole>
      <Shared>261600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hess Midstream Lp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>428103105</cusip>
    <value>24626458</value>
    <shrsOrPrnAmt>
      <sshPrnamt>654959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>654959</Sole>
      <Shared>654959</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hewlett Packard Enterprise Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42824C109</cusip>
    <value>38295638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>848939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>848939</Sole>
      <Shared>848939</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hewlett Packard Enterprise Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42824C109</cusip>
    <value>3717064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82400</Sole>
      <Shared>82400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hewlett Packard Enterprise Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42824C109</cusip>
    <value>6473285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143500</Sole>
      <Shared>143500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hexcel Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>428291108</cusip>
    <value>5905041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59015</Sole>
      <Shared>59015</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF Sinclair Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>403949100</cusip>
    <value>2758140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39600</Sole>
      <Shared>39600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Highpeak Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>43114Q105</cusip>
    <value>3267566</value>
    <shrsOrPrnAmt>
      <sshPrnamt>467463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>467463</Sole>
      <Shared>467463</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilltop Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>432748101</cusip>
    <value>5707369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147173</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147173</Sole>
      <Shared>147173</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Grand Vacations Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>43283X105</cusip>
    <value>6416111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122515</Sole>
      <Shared>122515</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Worldwide Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>43300A203</cusip>
    <value>70581299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213585</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213585</Sole>
      <Shared>213585</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Worldwide Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>43300A203</cusip>
    <value>4593394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Himax Technologies Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>43289P106</cusip>
    <value>160978</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10494</Sole>
      <Shared>10494</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Himax Technologies Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>43289P106</cusip>
    <value>544570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35500</Sole>
      <Shared>35500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hims &amp; Hers Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>433000106</cusip>
    <value>4465357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128796</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128796</Sole>
      <Shared>128796</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hims &amp; Hers Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>433000106</cusip>
    <value>29746860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>858000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>858000</Sole>
      <Shared>858000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hims &amp; Hers Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>433000106</cusip>
    <value>11784333</value>
    <shrsOrPrnAmt>
      <sshPrnamt>339900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>339900</Sole>
      <Shared>339900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hinge Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>433313103</cusip>
    <value>298800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HMH Holding Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>40445M100</cusip>
    <value>298003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15902</Sole>
      <Shared>15902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Bancshares Inc/Ar - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>436893200</cusip>
    <value>326612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11440</Sole>
      <Shared>11440</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>437076102</cusip>
    <value>37772028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107100</Sole>
      <Shared>107100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>437076102</cusip>
    <value>11215224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hometrust Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>437872104</cusip>
    <value>346286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6941</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6941</Sole>
      <Shared>6941</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honda Motor Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>438128308</cusip>
    <value>1296915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47839</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47839</Sole>
      <Shared>47839</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honest Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>438333106</cusip>
    <value>3424556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>935671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>935671</Sole>
      <Shared>935671</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honeywell International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>438516205</cusip>
    <value>7120020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honeywell International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>438516205</cusip>
    <value>21785470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97300</Sole>
      <Shared>97300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hormel Foods Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>440452100</cusip>
    <value>925786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37300</Sole>
      <Shared>37300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hormel Foods Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>440452100</cusip>
    <value>268056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Host Hotels &amp; Resorts Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44107P104</cusip>
    <value>39279907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1656681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1656681</Sole>
      <Shared>1656681</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Houlihan Lokey Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>441593100</cusip>
    <value>35383896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>263803</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>263803</Sole>
      <Shared>263803</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howard Hughes Holdings Inc- US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44267T102</cusip>
    <value>200172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howmet Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443201108</cusip>
    <value>58471135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217478</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>217478</Sole>
      <Shared>217478</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howmet Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443201108</cusip>
    <value>4543734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>16900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howmet Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443201108</cusip>
    <value>295746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hp Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40434L105</cusip>
    <value>1601620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73000</Sole>
      <Shared>73000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hp Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40434L105</cusip>
    <value>4561326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207900</Sole>
      <Shared>207900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hsbc Holdings Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>404280406</cusip>
    <value>3023862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hsbc Holdings Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>404280406</cusip>
    <value>4060343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42700</Sole>
      <Shared>42700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubbell Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443510607</cusip>
    <value>34102699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65181</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65181</Sole>
      <Shared>65181</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubbell Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443510607</cusip>
    <value>680160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubbell Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443510607</cusip>
    <value>15591360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>29800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubspot Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443573100</cusip>
    <value>11054448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60569</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60569</Sole>
      <Shared>60569</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubspot Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443573100</cusip>
    <value>1989359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubspot Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443573100</cusip>
    <value>6460854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35400</Sole>
      <Shared>35400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudbay Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443628102</cusip>
    <value>265211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11233</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11233</Sole>
      <Shared>11233</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudbay Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443628102</cusip>
    <value>927873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39300</Sole>
      <Shared>39300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humacyte Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44486Q103</cusip>
    <value>9599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humana Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>444859102</cusip>
    <value>14920775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37563</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37563</Sole>
      <Shared>37563</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humana Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>444859102</cusip>
    <value>17835178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44900</Sole>
      <Shared>44900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humana Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>444859102</cusip>
    <value>10129110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25500</Sole>
      <Shared>25500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Bancshares Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>446150104</cusip>
    <value>203895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Bancshares Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>446150104</cusip>
    <value>1253511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70700</Sole>
      <Shared>70700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Ingalls Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>446413106</cusip>
    <value>10182118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36379</Sole>
      <Shared>36379</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Ingalls Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>446413106</cusip>
    <value>671736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntsman Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>447011107</cusip>
    <value>9943740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>936322</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>936322</Sole>
      <Shared>936322</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hut 8 Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44812J104</cusip>
    <value>1997206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17300</Sole>
      <Shared>17300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hut 8 Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44812J104</cusip>
    <value>5737625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49700</Sole>
      <Shared>49700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hycroft Mining Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44862P208</cusip>
    <value>2941380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125700</Sole>
      <Shared>125700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hyliion Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>449109107</cusip>
    <value>1251432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>240198</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>240198</Sole>
      <Shared>240198</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hyperliquid Strategies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44916Y106</cusip>
    <value>206595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26251</Sole>
      <Shared>26251</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hyperliquid Strategies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44916Y106</cusip>
    <value>1219850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155000</Sole>
      <Shared>155000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hyperliquid Strategies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44916Y106</cusip>
    <value>1219850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155000</Sole>
      <Shared>155000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iamgold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>450913108</cusip>
    <value>662112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41800</Sole>
      <Shared>41800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iamgold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>450913108</cusip>
    <value>310464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19600</Sole>
      <Shared>19600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ibotta Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>451051106</cusip>
    <value>1401209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41019</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41019</Sole>
      <Shared>41019</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ichor Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4740B105</cusip>
    <value>5090663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45339</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45339</Sole>
      <Shared>45339</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Icon Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4705A100</cusip>
    <value>4563362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26270</Sole>
      <Shared>26270</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Icon Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4705A100</cusip>
    <value>694840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Icon Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4705A100</cusip>
    <value>660098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idacorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>451107106</cusip>
    <value>2846710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18815</Sole>
      <Shared>18815</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idaho Strategic Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>645827205</cusip>
    <value>2434766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74344</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74344</Sole>
      <Shared>74344</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ideaya Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45166A102</cusip>
    <value>1687846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45287</Sole>
      <Shared>45287</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45167R104</cusip>
    <value>2827797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12460</Sole>
      <Shared>12460</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44951W106</cusip>
    <value>7530265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10250</Sole>
      <Shared>10250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44951W106</cusip>
    <value>440796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iheartmedia Inc - Class A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45174J509</cusip>
    <value>1448081</value>
    <shrsOrPrnAmt>
      <sshPrnamt>337548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>337548</Sole>
      <Shared>337548</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ihs Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4701H109</cusip>
    <value>126912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15402</Sole>
      <Shared>15402</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Illinois Tool Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>452308109</cusip>
    <value>622081</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immatics Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N44445109</cusip>
    <value>672976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66434</Sole>
      <Shared>66434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immunitybio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45256X103</cusip>
    <value>1991763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227500</Sole>
      <Shared>227500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immunovant Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45258J102</cusip>
    <value>2201797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57145</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57145</Sole>
      <Shared>57145</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Incyte Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45337C102</cusip>
    <value>1227462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10828</Sole>
      <Shared>10828</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Incyte Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45337C102</cusip>
    <value>3094728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27300</Sole>
      <Shared>27300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Independence Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45378A106</cusip>
    <value>1783009</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106831</Sole>
      <Shared>106831</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Independent Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>453836108</cusip>
    <value>4237572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50616</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50616</Sole>
      <Shared>50616</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Indie Semiconductor Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45569U101</cusip>
    <value>449000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Industrial Logistics Properties Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>456237106</cusip>
    <value>1553332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175122</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>175122</Sole>
      <Shared>175122</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ing Groep Nv - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>456837103</cusip>
    <value>251040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingersoll Rand Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45687V106</cusip>
    <value>2244968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27381</Sole>
      <Shared>27381</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingevity Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45688C107</cusip>
    <value>8253126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110528</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110528</Sole>
      <Shared>110528</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingles Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457030104</cusip>
    <value>3677842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41520</Sole>
      <Shared>41520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingram Micro Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457152106</cusip>
    <value>1458481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53171</Sole>
      <Shared>53171</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingredion Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457187102</cusip>
    <value>547613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5782</Sole>
      <Shared>5782</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inmode Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M5425M103</cusip>
    <value>870022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59509</Sole>
      <Shared>59509</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innio NV - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N52A8C105</cusip>
    <value>19565148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>494694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>494694</Sole>
      <Shared>494694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innodata Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457642205</cusip>
    <value>17300186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228899</Sole>
      <Shared>228899</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innodata Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457642205</cusip>
    <value>695336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innodata Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457642205</cusip>
    <value>1058120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>14000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innovate Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45784J303</cusip>
    <value>612133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32787</Sole>
      <Shared>32787</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innovative Solutions And Support Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45769N105</cusip>
    <value>1435068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79726</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79726</Sole>
      <Shared>79726</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innventure Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45784M108</cusip>
    <value>3021299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>595917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>595917</Sole>
      <Shared>595917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inovio Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45773H409</cusip>
    <value>330000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457669307</cusip>
    <value>20832588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>195391</Sole>
      <Shared>195391</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457669307</cusip>
    <value>33084186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>310300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>310300</Sole>
      <Shared>310300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457669307</cusip>
    <value>842298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inspire Medical Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457730109</cusip>
    <value>7543328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169095</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169095</Sole>
      <Shared>169095</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insteel Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45774W108</cusip>
    <value>1550075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51327</Sole>
      <Shared>51327</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insulet Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45784P101</cusip>
    <value>21337990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140151</Sole>
      <Shared>140151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insulet Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45784P101</cusip>
    <value>959175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insulet Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45784P101</cusip>
    <value>319725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intapp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45827U109</cusip>
    <value>4276019</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169616</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169616</Sole>
      <Shared>169616</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Integer Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>45826HAD1</cusip>
    <value>48810775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50500000</Sole>
      <Shared>50500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>458140100</cusip>
    <value>154317959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1105192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1105192</Sole>
      <Shared>1105192</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>458140100</cusip>
    <value>226284378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1620600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1620600</Sole>
      <Shared>1620600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>458140100</cusip>
    <value>185149380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1326000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1326000</Sole>
      <Shared>1326000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intellia Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45826J105</cusip>
    <value>1978083</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116908</Sole>
      <Shared>116908</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intellia Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45826J105</cusip>
    <value>216576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interactive Brokers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45841N107</cusip>
    <value>64576282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>741915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>741915</Sole>
      <Shared>741915</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interactive Brokers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45841N107</cusip>
    <value>17660416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>202900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>202900</Sole>
      <Shared>202900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interactive Brokers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45841N107</cusip>
    <value>966144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intercontinental Exchange Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45866F104</cusip>
    <value>88587494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>719580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>719580</Sole>
      <Shared>719580</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intercontinental Exchange Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45866F104</cusip>
    <value>1969760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intercontinental Exchange Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45866F104</cusip>
    <value>418574</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interdigital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45867G101</cusip>
    <value>5645046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19938</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19938</Sole>
      <Shared>19938</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interdigital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45867G101</cusip>
    <value>821077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Bancshares Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>459044103</cusip>
    <value>2362349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31104</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31104</Sole>
      <Shared>31104</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Business Machines Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>459200101</cusip>
    <value>14060781</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50001</Sole>
      <Shared>50001</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Business Machines Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>459200101</cusip>
    <value>37710261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134100</Sole>
      <Shared>134100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Business Machines Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>459200101</cusip>
    <value>37710261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134100</Sole>
      <Shared>134100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Flavors &amp; Fragrances Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>459506101</cusip>
    <value>2534802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31997</Sole>
      <Shared>31997</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Money Express Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46005L101</cusip>
    <value>3208695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222055</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222055</Sole>
      <Shared>222055</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Paper Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>460146103</cusip>
    <value>9045626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>237418</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>237418</Sole>
      <Shared>237418</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Paper Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>460146103</cusip>
    <value>400050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Paper Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>460146103</cusip>
    <value>1562100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41000</Sole>
      <Shared>41000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Seaways Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y41053102</cusip>
    <value>6974515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91063</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91063</Sole>
      <Shared>91063</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Seaways Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y41053102</cusip>
    <value>298701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intrepid Potash Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46121Y201</cusip>
    <value>1499062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45731</Sole>
      <Shared>45731</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuit Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>461202103</cusip>
    <value>107638749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>412409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>412409</Sole>
      <Shared>412409</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>461202103</cusip>
    <value>6812100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26100</Sole>
      <Shared>26100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>461202103</cusip>
    <value>43508700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166700</Sole>
      <Shared>166700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Machines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46125A100</cusip>
    <value>647261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30260</Sole>
      <Shared>30260</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Machines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46125A100</cusip>
    <value>442773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20700</Sole>
      <Shared>20700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Machines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46125A100</cusip>
    <value>797847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37300</Sole>
      <Shared>37300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46120E602</cusip>
    <value>18609436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46795</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46795</Sole>
      <Shared>46795</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46120E602</cusip>
    <value>9106872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22900</Sole>
      <Shared>22900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46120E602</cusip>
    <value>25849200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65000</Sole>
      <Shared>65000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Db Agriculture Fund - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46140H106</cusip>
    <value>13335000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500000</Sole>
      <Shared>500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Exchange-Traded Fund Trust - Invesco S&amp;P 5</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46137V241</cusip>
    <value>3675810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40797</Sole>
      <Shared>40797</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Kbw Bank Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138E628</cusip>
    <value>393863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4236</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4236</Sole>
      <Shared>4236</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>1484701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56260</Sole>
      <Shared>56260</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G491BT108</cusip>
    <value>216398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>8200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Nasdaq 100 ETF - US ETP</nameOfIssuer>
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    <cusip>46138G649</cusip>
    <value>952235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3143</Sole>
      <Shared>3143</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco PHLX Semiconductor ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138G615</cusip>
    <value>4023717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35894</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35894</Sole>
      <Shared>35894</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Qqq Trust Series 1 - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46090E103</cusip>
    <value>3554381880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4826700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4826700</Sole>
      <Shared>4826700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Qqq Trust Series 1 - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46090E103</cusip>
    <value>3487664040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4736100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4736100</Sole>
      <Shared>4736100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Qqq Trust Series 1 - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46090E103</cusip>
    <value>19571303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26577</Sole>
      <Shared>26577</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P 500 Equal Weight Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46137V357</cusip>
    <value>21344448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100317</Sole>
      <Shared>100317</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P 500 Low Volatility Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138E354</cusip>
    <value>3804096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50789</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50789</Sole>
      <Shared>50789</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P Midcap Momentum Et - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46137V464</cusip>
    <value>1913054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11244</Sole>
      <Shared>11244</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Semiconductors ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46137V647</cusip>
    <value>1615252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Solar Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46138G706</cusip>
    <value>5915000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Solar Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138G706</cusip>
    <value>224593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3797</Sole>
      <Shared>3797</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Wilderhill Clean Energy Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46137V134</cusip>
    <value>298466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7651</Sole>
      <Shared>7651</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invitation Homes Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46187W107</cusip>
    <value>3177246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105172</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105172</Sole>
      <Shared>105172</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionis Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>462222100</cusip>
    <value>2854440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36000</Sole>
      <Shared>36000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionis Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>462222100</cusip>
    <value>269586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionq Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46222L108</cusip>
    <value>37463989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>703417</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>703417</Sole>
      <Shared>703417</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionq Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46222L108</cusip>
    <value>1123786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21100</Sole>
      <Shared>21100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionq Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46222L108</cusip>
    <value>8319212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156200</Sole>
      <Shared>156200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iovance Biotherapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>462260100</cusip>
    <value>1222994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>293989</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>293989</Sole>
      <Shared>293989</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iovance Biotherapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>462260100</cusip>
    <value>208000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IperionX Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>44916E100</cusip>
    <value>2378400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80000</Sole>
      <Shared>80000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ipg Photonics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44980X109</cusip>
    <value>1667586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14214</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14214</Sole>
      <Shared>14214</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IQM Quantum Computers Oyj - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>G73944103</cusip>
    <value>1516817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140446</Sole>
      <Shared>140446</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqvia Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46266C105</cusip>
    <value>23098292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119544</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119544</Sole>
      <Shared>119544</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqvia Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46266C105</cusip>
    <value>405762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqvia Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46266C105</cusip>
    <value>289830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iradimed Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46266A109</cusip>
    <value>4360021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45626</Sole>
      <Shared>45626</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Q4982L109</cusip>
    <value>14889688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>325600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>325600</Sole>
      <Shared>325600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Q4982L109</cusip>
    <value>33158823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>725100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>725100</Sole>
      <Shared>725100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN Ltd - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>46270CAB5</cusip>
    <value>103492152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35803000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35803000</Sole>
      <Shared>35803000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IRhythm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>450056AB2</cusip>
    <value>24029400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21750000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21750000</Sole>
      <Shared>21750000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iridium Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46269C102</cusip>
    <value>1009240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18400</Sole>
      <Shared>18400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iron Mountain Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46284V101</cusip>
    <value>9522385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75389</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75389</Sole>
      <Shared>75389</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iron Mountain Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46284V101</cusip>
    <value>1326255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares 10-20 Year Treasury Bond Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288653</cusip>
    <value>1102244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10984</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10984</Sole>
      <Shared>10984</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>579160914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6701700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6701700</Sole>
      <Shared>6701700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>23030930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266500</Sole>
      <Shared>266500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>5256410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60824</Sole>
      <Shared>60824</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Biotechnology Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287556</cusip>
    <value>3182259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16732</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16732</Sole>
      <Shared>16732</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Bitcoin Trust ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46438F101</cusip>
    <value>4926920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148000</Sole>
      <Shared>148000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Bitcoin Trust ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46438F101</cusip>
    <value>23802350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>715000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>715000</Sole>
      <Shared>715000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares Bitcoin Trust ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46438F101</cusip>
    <value>22921130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>688529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>688529</Sole>
      <Shared>688529</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares China Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287184</cusip>
    <value>138367359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4380100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4380100</Sole>
      <Shared>4380100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares China Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287184</cusip>
    <value>82658394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2616600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2616600</Sole>
      <Shared>2616600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares China Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287184</cusip>
    <value>14260990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>451440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>451440</Sole>
      <Shared>451440</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares Core Dividend Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434V621</cusip>
    <value>8096191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106824</Sole>
      <Shared>106824</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P 500 Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287200</cusip>
    <value>25387371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33900</Sole>
      <Shared>33900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P 500 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287200</cusip>
    <value>1209947124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1615654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1615654</Sole>
      <Shared>1615654</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P Mid-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287507</cusip>
    <value>4245677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55060</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55060</Sole>
      <Shared>55060</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P U.S. Growth Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287671</cusip>
    <value>911296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4845</Sole>
      <Shared>4845</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P U.S. Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287663</cusip>
    <value>1788946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16241</Sole>
      <Shared>16241</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Core U.S. Aggregate Bond Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287226</cusip>
    <value>373551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3774</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3774</Sole>
      <Shared>3774</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287549</cusip>
    <value>3136974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19177</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19177</Sole>
      <Shared>19177</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech-Software Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287515</cusip>
    <value>14514120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160200</Sole>
      <Shared>160200</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech-Software Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287515</cusip>
    <value>115025760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1269600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1269600</Sole>
      <Shared>1269600</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech-Software Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287515</cusip>
    <value>37487200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>413766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>413766</Sole>
      <Shared>413766</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Global Energy Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287341</cusip>
    <value>648663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13203</Sole>
      <Shared>13203</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares Global Infrastructure ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288372</cusip>
    <value>507892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7626</Sole>
      <Shared>7626</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Gold Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464285204</cusip>
    <value>10430045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>138128</Sole>
      <Shared>138128</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares Gold Trust Micro - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46436F103</cusip>
    <value>701895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17543</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17543</Sole>
      <Shared>17543</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Iboxx Investment Grade Corporate Bond Etf</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287242</cusip>
    <value>10835995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99349</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99349</Sole>
      <Shared>99349</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Iboxx High Yield Corporate Bond Etf - US E</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464288513</cusip>
    <value>799700000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000000</Sole>
      <Shared>10000000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Jp Morgan Usd Emerging Markets Bond Etf -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288281</cusip>
    <value>504863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5235</Sole>
      <Shared>5235</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Latin America 40 Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287390</cusip>
    <value>12352500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366000</Sole>
      <Shared>366000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Latin America 40 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287390</cusip>
    <value>6750000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Acwi Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288257</cusip>
    <value>232943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1484</Sole>
      <Shared>1484</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Australia Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286103</cusip>
    <value>4132058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146735</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146735</Sole>
      <Shared>146735</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Brazil Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286400</cusip>
    <value>39519750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1145500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1145500</Sole>
      <Shared>1145500</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Brazil Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286400</cusip>
    <value>9021750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261500</Sole>
      <Shared>261500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Brazil Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286400</cusip>
    <value>3450000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Eafe Min Vol Factor Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46429B689</cusip>
    <value>5516082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62890</Sole>
      <Shared>62890</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Eafe Small-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288273</cusip>
    <value>11487196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139628</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139628</Sole>
      <Shared>139628</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287234</cusip>
    <value>130115820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1902000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1902000</Sole>
      <Shared>1902000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287234</cusip>
    <value>427172563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6244300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6244300</Sole>
      <Shared>6244300</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287234</cusip>
    <value>69508733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1016061</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1016061</Sole>
      <Shared>1016061</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Min Vol Factor Etf -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286533</cusip>
    <value>1220289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16210</Sole>
      <Shared>16210</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Germany Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286806</cusip>
    <value>310275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI Global Gold Miners ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434G855</cusip>
    <value>619126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9584</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9584</Sole>
      <Shared>9584</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Global Metals &amp; Mining Producers Etf</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434G848</cusip>
    <value>413912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7118</Sole>
      <Shared>7118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci India Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46429B598</cusip>
    <value>29634000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>600000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci India Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46429B598</cusip>
    <value>3878695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78532</Sole>
      <Shared>78532</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Indonesia Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46429B309</cusip>
    <value>127950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11313</Sole>
      <Shared>11313</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Mexico Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286822</cusip>
    <value>5090510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67630</Sole>
      <Shared>67630</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci South Korea Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286772</cusip>
    <value>194046090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>961100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>961100</Sole>
      <Shared>961100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci South Korea Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286772</cusip>
    <value>237959340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1178600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1178600</Sole>
      <Shared>1178600</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci South Korea Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286772</cusip>
    <value>4048095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20050</Sole>
      <Shared>20050</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci Taiwan Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46434G772</cusip>
    <value>20092850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185000</Sole>
      <Shared>185000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci United Kingdom Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46435G334</cusip>
    <value>1173156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25426</Sole>
      <Shared>25426</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares MSCI USA Momentum Factor ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46432F396</cusip>
    <value>11141975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32500</Sole>
      <Shared>32500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares MSCI USA Quality Factor ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46432F339</cusip>
    <value>20295300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92491</Sole>
      <Shared>92491</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>iShares MSCI USA Value Factor ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46432F388</cusip>
    <value>43465469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>217534</Sole>
      <Shared>217534</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Msci World Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286392</cusip>
    <value>271943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1342</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1342</Sole>
      <Shared>1342</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 1000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287622</cusip>
    <value>566748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1384</Sole>
      <Shared>1384</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 1000 Growth Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287614</cusip>
    <value>3327756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26800</Sole>
      <Shared>26800</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 1000 Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287598</cusip>
    <value>18500076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76311</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76311</Sole>
      <Shared>76311</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 2000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287655</cusip>
    <value>2907815190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9678200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9678200</Sole>
      <Shared>9678200</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 2000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287655</cusip>
    <value>9230755395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30723100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30723100</Sole>
      <Shared>30723100</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 2000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287655</cusip>
    <value>343933828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1144729</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1144729</Sole>
      <Shared>1144729</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell 3000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287689</cusip>
    <value>286967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>673</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>673</Sole>
      <Shared>673</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell Mid-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287499</cusip>
    <value>6053038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54868</Sole>
      <Shared>54868</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Russell Mid-Cap Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287473</cusip>
    <value>2367113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14381</Sole>
      <Shared>14381</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares S&amp;P 500 Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287408</cusip>
    <value>936623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4125</Sole>
      <Shared>4125</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares S&amp;P Mid-Cap 400 Growth Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287606</cusip>
    <value>331585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2822</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2822</Sole>
      <Shared>2822</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287523</cusip>
    <value>60167364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93900</Sole>
      <Shared>93900</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287523</cusip>
    <value>26911920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42000</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42000</Sole>
      <Shared>42000</Shared>
      <None>0</None>
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    <nameOfIssuer>Ishares Silver Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>113447299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2121700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2121700</Sole>
      <Shared>2121700</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Silver Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>67944329</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1270700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1270700</Sole>
      <Shared>1270700</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Ishares Silver Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46428Q109</cusip>
    <value>29156710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>545291</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>545291</Sole>
      <Shared>545291</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>Ishares U.S. Basic Materials Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287838</cusip>
    <value>436617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2432</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2432</Sole>
      <Shared>2432</Shared>
      <None>0</None>
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    <nameOfIssuer>Ishares U.S. Energy Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287796</cusip>
    <value>2765101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48862</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48862</Sole>
      <Shared>48862</Shared>
      <None>0</None>
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    <nameOfIssuer>iShares U.S. Equity Factor Rotation Active ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>09290C103</cusip>
    <value>14081130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207045</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207045</Sole>
      <Shared>207045</Shared>
      <None>0</None>
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    <nameOfIssuer>Ishares U.S. Healthcare Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287762</cusip>
    <value>1286324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19196</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19196</Sole>
      <Shared>19196</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares U.S. Home Construction Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288752</cusip>
    <value>9329751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89297</Sole>
      <Shared>89297</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares U.S. Real Estate Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287739</cusip>
    <value>3251550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares U.S. Real Estate Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287739</cusip>
    <value>1160538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11350</Sole>
      <Shared>11350</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ishares Us Technology Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287721</cusip>
    <value>1131252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4485</Sole>
      <Shared>4485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Us Telecommunications Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287713</cusip>
    <value>784131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18533</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18533</Sole>
      <Shared>18533</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Itau Unibanco Holding Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>465562106</cusip>
    <value>561663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68747</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68747</Sole>
      <Shared>68747</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ivanhoe Electric Inc / US - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46578C108</cusip>
    <value>2566735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267090</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267090</Sole>
      <Shared>267090</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ivanhoe Electric Inc / US - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46578C108</cusip>
    <value>151838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J M Smucker Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>832696405</cusip>
    <value>2283750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>20300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J M Smucker Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>832696405</cusip>
    <value>1136250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jabil Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>466313103</cusip>
    <value>848056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jabil Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>466313103</cusip>
    <value>424028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jack Henry &amp; Associates Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>426281101</cusip>
    <value>59099826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>429068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>429068</Sole>
      <Shared>429068</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jackson Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46817M107</cusip>
    <value>24211242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236461</Sole>
      <Shared>236461</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jackson Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46817M107</cusip>
    <value>501711</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>4900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>James Hardie Industries Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4253H101</cusip>
    <value>9602798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366799</Sole>
      <Shared>366799</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Janus Henderson Group Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4474Y214</cusip>
    <value>5195000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Janux Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>47103J105</cusip>
    <value>431155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28070</Sole>
      <Shared>28070</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jb Hunt Transport Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>445658107</cusip>
    <value>434145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jb Hunt Transport Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>445658107</cusip>
    <value>463088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jbg Smith Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46590V100</cusip>
    <value>4489724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>306048</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>306048</Sole>
      <Shared>306048</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jbs NV-A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N4732M103</cusip>
    <value>1765650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>149000</Sole>
      <Shared>149000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jbs NV-A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N4732M103</cusip>
    <value>314025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26500</Sole>
      <Shared>26500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jd.Com Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>47215P106</cusip>
    <value>17191458</value>
    <shrsOrPrnAmt>
      <sshPrnamt>674704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>674704</Sole>
      <Shared>674704</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jd.Com Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47215P106</cusip>
    <value>13830544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>542800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>542800</Sole>
      <Shared>542800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jd.Com Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47215P106</cusip>
    <value>31860192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1250400</Sole>
      <Shared>1250400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jefferies Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>47233W109</cusip>
    <value>15607155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312268</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>312268</Sole>
      <Shared>312268</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jefferies Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47233W109</cusip>
    <value>1469412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>29400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jefferies Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47233W109</cusip>
    <value>814674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jeld-Wen Holding Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>47580P103</cusip>
    <value>838697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>559131</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>559131</Sole>
      <Shared>559131</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jetblue Airways Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>477143101</cusip>
    <value>18483559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3225752</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3225752</Sole>
      <Shared>3225752</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jetblue Airways Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>477143101</cusip>
    <value>873825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152500</Sole>
      <Shared>152500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jfrog Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M6191J100</cusip>
    <value>845184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>9300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jfrog Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M6191J100</cusip>
    <value>2308352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25400</Sole>
      <Shared>25400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Joby Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G65163100</cusip>
    <value>1613628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180900</Sole>
      <Shared>180900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Joby Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>47775AAA9</cusip>
    <value>10932000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12000000</Sole>
      <Shared>12000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson &amp; Johnson - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>478160104</cusip>
    <value>34387538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135400</Sole>
      <Shared>135400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson &amp; Johnson - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>478160104</cusip>
    <value>13485807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53100</Sole>
      <Shared>53100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson Controls International Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G51502105</cusip>
    <value>17970799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122995</Sole>
      <Shared>122995</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson Controls International Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G51502105</cusip>
    <value>1957874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson Controls International Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G51502105</cusip>
    <value>730550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jpmorgan Chase &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46625H100</cusip>
    <value>11736417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35855</Sole>
      <Shared>35855</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jpmorgan Chase &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46625H100</cusip>
    <value>136693008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>417600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>417600</Sole>
      <Shared>417600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jpmorgan Chase &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46625H100</cusip>
    <value>37937547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115900</Sole>
      <Shared>115900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMorgan Equity Premium Income ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46641Q332</cusip>
    <value>1285146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22754</Sole>
      <Shared>22754</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMorgan International Research Enhanced Equity ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46641Q134</cusip>
    <value>426886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5175</Sole>
      <Shared>5175</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jumia Technologies Ag - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>48138M105</cusip>
    <value>8716648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1236404</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1236404</Sole>
      <Shared>1236404</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kadant Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48282T104</cusip>
    <value>613063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1951</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1951</Sole>
      <Shared>1951</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kailera Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>482931102</cusip>
    <value>1058542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48050</Sole>
      <Shared>48050</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Karman Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>485924104</cusip>
    <value>559104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>11200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Karman Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>485924104</cusip>
    <value>469248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kb Home - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>48666K109</cusip>
    <value>613382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9800</Sole>
      <Shared>9800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ke Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>482497104</cusip>
    <value>212138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kemper Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>488401100</cusip>
    <value>5056294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187548</Sole>
      <Shared>187548</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kennametal Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>489170100</cusip>
    <value>12952622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>369547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>369547</Sole>
      <Shared>369547</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kenvue Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49177J102</cusip>
    <value>210626560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11021798</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11021798</Sole>
      <Shared>11021798</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kestra Medical Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G52441105</cusip>
    <value>1271415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49977</Sole>
      <Shared>49977</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keurig Dr Pepper Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49271V100</cusip>
    <value>4912773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150100</Sole>
      <Shared>150100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keurig Dr Pepper Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49271V100</cusip>
    <value>219291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keurig Dr Pepper Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49271V100</cusip>
    <value>605505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18500</Sole>
      <Shared>18500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keycorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>493267108</cusip>
    <value>9048208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>392547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>392547</Sole>
      <Shared>392547</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keycorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>493267108</cusip>
    <value>308870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keysight Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49338L103</cusip>
    <value>54888526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156793</Sole>
      <Shared>156793</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keysight Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49338L103</cusip>
    <value>700140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kilroy Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49427F108</cusip>
    <value>3919362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104600</Sole>
      <Shared>104600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kimbell Royalty Partners Lp - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49435R102</cusip>
    <value>3333894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>229449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>229449</Sole>
      <Shared>229449</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kimco Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49446R109</cusip>
    <value>6383789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>251826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>251826</Sole>
      <Shared>251826</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinder Morgan Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49456B101</cusip>
    <value>2659776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83196</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83196</Sole>
      <Shared>83196</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinder Morgan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49456B101</cusip>
    <value>1604894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50200</Sole>
      <Shared>50200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinder Morgan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49456B101</cusip>
    <value>1675228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52400</Sole>
      <Shared>52400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinross Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>496902404</cusip>
    <value>1231311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52130</Sole>
      <Shared>52130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinross Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>496902404</cusip>
    <value>2739920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116000</Sole>
      <Shared>116000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinsale Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49714P108</cusip>
    <value>4312266</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13075</Sole>
      <Shared>13075</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinsale Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49714P108</cusip>
    <value>461734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kite Realty Group Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49803T300</cusip>
    <value>2336752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82338</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82338</Sole>
      <Shared>82338</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48251W104</cusip>
    <value>12433620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135472</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135472</Sole>
      <Shared>135472</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>48251W104</cusip>
    <value>18493670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>201500</Sole>
      <Shared>201500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>48251W104</cusip>
    <value>19842836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216200</Sole>
      <Shared>216200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr Real Estate Finance Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48251K100</cusip>
    <value>178073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26034</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26034</Sole>
      <Shared>26034</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kla Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>482480100</cusip>
    <value>8691058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28806</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28806</Sole>
      <Shared>28806</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kla Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>482480100</cusip>
    <value>8538393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28300</Sole>
      <Shared>28300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kla Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>482480100</cusip>
    <value>29778777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98700</Sole>
      <Shared>98700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klarna Group PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5279N105</cusip>
    <value>7507198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>370909</Sole>
      <Shared>370909</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klarna Group PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G5279N105</cusip>
    <value>860200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42500</Sole>
      <Shared>42500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klaviyo Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49845K101</cusip>
    <value>632690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41900</Sole>
      <Shared>41900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klaviyo Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49845K101</cusip>
    <value>542090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35900</Sole>
      <Shared>35900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knight-Swift Transportation Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>499049104</cusip>
    <value>12513008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160691</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160691</Sole>
      <Shared>160691</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knight-Swift Transportation Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>499049104</cusip>
    <value>295906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knight-Swift Transportation Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>499049104</cusip>
    <value>225823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knowles Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49926D109</cusip>
    <value>2246806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54166</Sole>
      <Shared>54166</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kodiak Gas Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50012A108</cusip>
    <value>277981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kohl's Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>500255104</cusip>
    <value>13737359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>775246</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>775246</Sole>
      <Shared>775246</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraft Heinz Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>500754106</cusip>
    <value>1431372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60600</Sole>
      <Shared>60600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraneshares Csi China Internet Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>500767306</cusip>
    <value>35699283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1458900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1458900</Sole>
      <Shared>1458900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraneshares Csi China Internet Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>500767306</cusip>
    <value>34766976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1420800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1420800</Sole>
      <Shared>1420800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraneshares Csi China Internet Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>500767306</cusip>
    <value>4452659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181964</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181964</Sole>
      <Shared>181964</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kratos Defense &amp; Security Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50077B207</cusip>
    <value>9778094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196111</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196111</Sole>
      <Shared>196111</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kratos Defense &amp; Security Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50077B207</cusip>
    <value>1760058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35300</Sole>
      <Shared>35300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kratos Defense &amp; Security Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50077B207</cusip>
    <value>2837034</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56900</Sole>
      <Shared>56900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Krispy Kreme Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50101L106</cusip>
    <value>4422010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1252694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1252694</Sole>
      <Shared>1252694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Krispy Kreme Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50101L106</cusip>
    <value>63893</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18100</Sole>
      <Shared>18100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kroger Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>501044101</cusip>
    <value>7579512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136494</Sole>
      <Shared>136494</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kroger Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>501044101</cusip>
    <value>2026845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36500</Sole>
      <Shared>36500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kroger Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>501044101</cusip>
    <value>577512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kulicke &amp; Soffa Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>501242101</cusip>
    <value>387904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kura Oncology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50127T109</cusip>
    <value>477414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43520</Sole>
      <Shared>43520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kura Sushi Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>501270102</cusip>
    <value>5692626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98899</Sole>
      <Shared>98899</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyivstar Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5331N101</cusip>
    <value>1093981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67655</Sole>
      <Shared>67655</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyndryl Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50155Q100</cusip>
    <value>6562028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>580197</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>580197</Sole>
      <Shared>580197</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyndryl Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50155Q100</cusip>
    <value>4090827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>361700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>361700</Sole>
      <Shared>361700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3Harris Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>502431109</cusip>
    <value>30944639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106489</Sole>
      <Shared>106489</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3Harris Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>502431109</cusip>
    <value>1714481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3Harris Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>502431109</cusip>
    <value>435885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lakeland Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>511656100</cusip>
    <value>3048104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49386</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49386</Sole>
      <Shared>49386</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>512807306</cusip>
    <value>19245052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44412</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44412</Sole>
      <Shared>44412</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>512807306</cusip>
    <value>186721897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>430900</Sole>
      <Shared>430900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>512807306</cusip>
    <value>77999400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180000</Sole>
      <Shared>180000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamar Advertising Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>512816109</cusip>
    <value>9587935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61469</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61469</Sole>
      <Shared>61469</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamb Weston Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>513272104</cusip>
    <value>9216123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213435</Sole>
      <Shared>213435</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamb Weston Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>513272104</cusip>
    <value>427482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Landbridge Co LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>514952100</cusip>
    <value>6652594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83955</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83955</Sole>
      <Shared>83955</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lands' End Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>51509F105</cusip>
    <value>1592352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151942</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151942</Sole>
      <Shared>151942</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Landstar System Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>515098101</cusip>
    <value>764990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3699</Sole>
      <Shared>3699</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Las Vegas Sands Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>517834107</cusip>
    <value>2221739</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48100</Sole>
      <Shared>48100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Laser Photonics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>51807Q100</cusip>
    <value>464640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>281600</Sole>
      <Shared>281600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Latam Airlines Group Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>51817R205</cusip>
    <value>238208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4088</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4088</Sole>
      <Shared>4088</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lattice Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>518415104</cusip>
    <value>244736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>La-Z-Boy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>505336107</cusip>
    <value>692391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17258</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17258</Sole>
      <Shared>17258</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lci Industries - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50189K103</cusip>
    <value>2166622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20463</Sole>
      <Shared>20463</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legacy Housing Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>52472M101</cusip>
    <value>443937</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16899</Sole>
      <Shared>16899</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legato Merger Corp IV - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7318R121</cusip>
    <value>6519500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>650000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>650000</Sole>
      <Shared>650000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legend Biotech Corp - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>52490G102</cusip>
    <value>839426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29066</Sole>
      <Shared>29066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>525327102</cusip>
    <value>4401144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42742</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42742</Sole>
      <Shared>42742</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>525327102</cusip>
    <value>1173858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>525327102</cusip>
    <value>308910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemaitre Vascular Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>525558201</cusip>
    <value>8532283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88915</Sole>
      <Shared>88915</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>52567D107</cusip>
    <value>10657207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163831</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163831</Sole>
      <Shared>163831</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52567D107</cusip>
    <value>3441145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52900</Sole>
      <Shared>52900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52567D107</cusip>
    <value>2055580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31600</Sole>
      <Shared>31600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lendingtree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52603B107</cusip>
    <value>788362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17800</Sole>
      <Shared>17800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennar Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>526057104</cusip>
    <value>33310998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>368118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>368118</Sole>
      <Shared>368118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>526057104</cusip>
    <value>6370496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70400</Sole>
      <Shared>70400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>526057104</cusip>
    <value>2533720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28000</Sole>
      <Shared>28000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennox International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>526107107</cusip>
    <value>3907519</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6820</Sole>
      <Shared>6820</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Levi Strauss &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52736R102</cusip>
    <value>345137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lgi Homes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50187T106</cusip>
    <value>774030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12155</Sole>
      <Shared>12155</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Li Auto Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50202M102</cusip>
    <value>878152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74800</Sole>
      <Shared>74800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Li Auto Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50202M102</cusip>
    <value>304066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>25900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Broadband C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>530307305</cusip>
    <value>68158022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2049249</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2049249</Sole>
      <Shared>2049249</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Global Ltd - A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G61188101</cusip>
    <value>436608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38400</Sole>
      <Shared>38400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Global Ltd - A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G61188101</cusip>
    <value>387717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34100</Sole>
      <Shared>34100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Live Holdings Class A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>530909100</cusip>
    <value>1051788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10387</Sole>
      <Shared>10387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Live Holdings Class C - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>530909308</cusip>
    <value>1852503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17536</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17536</Sole>
      <Shared>17536</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Media Corp-Liberty Formula One-c</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>531229755</cusip>
    <value>1775503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18662</Sole>
      <Shared>18662</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Media Corp-Liberty Formula One-c</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>531229755</cusip>
    <value>3386984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35600</Sole>
      <Shared>35600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lifemd Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53216B104</cusip>
    <value>1132211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>274143</Sole>
      <Shared>274143</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lifevantage Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53222K205</cusip>
    <value>295920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47423</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47423</Sole>
      <Shared>47423</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lifeway Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>531914109</cusip>
    <value>6264998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209953</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209953</Sole>
      <Shared>209953</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liftoff Mobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53229X101</cusip>
    <value>1048641</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43657</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43657</Sole>
      <Shared>43657</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightpath Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>532257805</cusip>
    <value>2289523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140032</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140032</Sole>
      <Shared>140032</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightpath Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532257805</cusip>
    <value>506850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31000</Sole>
      <Shared>31000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightwave Logic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532275104</cusip>
    <value>119196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>12600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Limbach Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53263P105</cusip>
    <value>346500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Limbach Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53263P105</cusip>
    <value>616000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln Educational Services Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>533535100</cusip>
    <value>2378633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47668</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47668</Sole>
      <Shared>47668</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln Electric Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>533900106</cusip>
    <value>796530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln National Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>534187109</cusip>
    <value>590345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lindblad Expeditions Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>535219109</cusip>
    <value>2197439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77813</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77813</Sole>
      <Shared>77813</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lindsay Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>535555106</cusip>
    <value>6039212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48782</Sole>
      <Shared>48782</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lineage Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53566V106</cusip>
    <value>748571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17308</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17308</Sole>
      <Shared>17308</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lionsgate Studios Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53626N102</cusip>
    <value>278642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liquidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53635D202</cusip>
    <value>1307572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16400</Sole>
      <Shared>16400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lithia Motors Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>536797103</cusip>
    <value>1016715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lithium Americas Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53681J103</cusip>
    <value>295314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76705</Sole>
      <Shared>76705</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lithium Americas Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53681J103</cusip>
    <value>112035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29100</Sole>
      <Shared>29100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Littelfuse Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>537008104</cusip>
    <value>5072376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11140</Sole>
      <Shared>11140</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>538034109</cusip>
    <value>7507510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41000</Sole>
      <Shared>41000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>538034109</cusip>
    <value>10437270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57000</Sole>
      <Shared>57000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>538034109</cusip>
    <value>549330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>538034BC2</cusip>
    <value>30045000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000000</Sole>
      <Shared>25000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lkq Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>501889208</cusip>
    <value>5801526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220339</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220339</Sole>
      <Shared>220339</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lloyds Banking Group Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>539439109</cusip>
    <value>2770468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>475209</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>475209</Sole>
      <Shared>475209</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Loandepot Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53946R106</cusip>
    <value>444060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>355248</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>355248</Sole>
      <Shared>355248</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>539830109</cusip>
    <value>30534485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59935</Sole>
      <Shared>59935</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>539830109</cusip>
    <value>8507982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>539830109</cusip>
    <value>7081494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Loews Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>540424108</cusip>
    <value>3082708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27230</Sole>
      <Shared>27230</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Logitech International Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H50430232</cusip>
    <value>18461275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196313</Sole>
      <Shared>196313</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Logitech International Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H50430232</cusip>
    <value>1890204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Louisiana-Pacific Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>546347105</cusip>
    <value>1968231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25022</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25022</Sole>
      <Shared>25022</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>548661107</cusip>
    <value>24021283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108945</Sole>
      <Shared>108945</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>548661107</cusip>
    <value>8158130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37000</Sole>
      <Shared>37000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>548661107</cusip>
    <value>3241203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lpl Financial Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50212V100</cusip>
    <value>2713142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9632</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9632</Sole>
      <Shared>9632</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lpl Financial Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50212V100</cusip>
    <value>309848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lsb Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>502160104</cusip>
    <value>2768830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256136</Sole>
      <Shared>256136</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ltc Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>502175102</cusip>
    <value>3302547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85892</Sole>
      <Shared>85892</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lufax Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>54975P201</cusip>
    <value>138452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104888</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104888</Sole>
      <Shared>104888</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lululemon Athletica Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>550021109</cusip>
    <value>5559082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48687</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48687</Sole>
      <Shared>48687</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lululemon Athletica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550021109</cusip>
    <value>10447470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91500</Sole>
      <Shared>91500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lululemon Athletica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550021109</cusip>
    <value>19296420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169000</Sole>
      <Shared>169000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumen Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>550241103</cusip>
    <value>1971272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256676</Sole>
      <Shared>256676</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumen Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550241103</cusip>
    <value>297216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38700</Sole>
      <Shared>38700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumen Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550241103</cusip>
    <value>89088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55024U109</cusip>
    <value>13837076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16126</Sole>
      <Shared>16126</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55024U109</cusip>
    <value>13557348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55024U109</cusip>
    <value>66928680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78000</Sole>
      <Shared>78000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyft Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55087P104</cusip>
    <value>4514548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>309004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>309004</Sole>
      <Shared>309004</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyft Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55087P104</cusip>
    <value>2137443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146300</Sole>
      <Shared>146300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyondellbasell Industries Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N53745100</cusip>
    <value>23224757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>441116</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>441116</Sole>
      <Shared>441116</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyondellbasell Industries Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N53745100</cusip>
    <value>358020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>6800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyondellbasell Industries Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N53745100</cusip>
    <value>1084590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20600</Sole>
      <Shared>20600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>M&amp;T Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55261F104</cusip>
    <value>28809444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121043</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121043</Sole>
      <Shared>121043</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>M&amp;T Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55261F104</cusip>
    <value>261811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macom Technology Solutions Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55405Y100</cusip>
    <value>23178607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60937</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60937</Sole>
      <Shared>60937</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macom Technology Solutions Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55405Y100</cusip>
    <value>1179147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macom Technology Solutions Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55405Y100</cusip>
    <value>570555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macrogenics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>556099109</cusip>
    <value>75532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16349</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16349</Sole>
      <Shared>16349</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macy's Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55616P104</cusip>
    <value>1481531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62910</Sole>
      <Shared>62910</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macy's Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55616P104</cusip>
    <value>301440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Air Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55658T105</cusip>
    <value>7217184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185056</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185056</Sole>
      <Shared>185056</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Square Garden Entertainment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>558256103</cusip>
    <value>452984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Square Garden Sports Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55825T103</cusip>
    <value>1149664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2861</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2861</Sole>
      <Shared>2861</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Square Garden Sports Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55825T103</cusip>
    <value>2491408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Square Garden Sports Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55825T103</cusip>
    <value>1326072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madrigal Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>558868105</cusip>
    <value>6179758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11509</Sole>
      <Shared>11509</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magna International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>559222401</cusip>
    <value>489955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7462</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7462</Sole>
      <Shared>7462</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnachip Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55933J203</cusip>
    <value>355237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75103</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75103</Sole>
      <Shared>75103</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnachip Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55933J203</cusip>
    <value>402523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85100</Sole>
      <Shared>85100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnera Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55939A107</cusip>
    <value>1733066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147495</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147495</Sole>
      <Shared>147495</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnite Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55955D100</cusip>
    <value>2376296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125200</Sole>
      <Shared>125200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Main Street Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56035L104</cusip>
    <value>5788615</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111577</Sole>
      <Shared>111577</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Makemytrip Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>V5633W109</cusip>
    <value>575532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Malibu Boats Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56117J100</cusip>
    <value>994557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36258</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36258</Sole>
      <Shared>36258</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Manchester United Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5784H106</cusip>
    <value>1132627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49395</Sole>
      <Shared>49395</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Manitowoc Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>563571405</cusip>
    <value>797453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57412</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57412</Sole>
      <Shared>57412</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mannkind Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56400P706</cusip>
    <value>640657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150389</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150389</Sole>
      <Shared>150389</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Manulife Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56501R106</cusip>
    <value>239819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5920</Sole>
      <Shared>5920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARA Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>565788106</cusip>
    <value>20551144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1479564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1479564</Sole>
      <Shared>1479564</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARA Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>565788106</cusip>
    <value>750060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54000</Sole>
      <Shared>54000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARA Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>565788106</cusip>
    <value>2148783</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154700</Sole>
      <Shared>154700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marathon Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>56585A102</cusip>
    <value>1891958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marathon Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>56585A102</cusip>
    <value>2377731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>9300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maravai Lifesciences Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56600D107</cusip>
    <value>11538253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1849079</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1849079</Sole>
      <Shared>1849079</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marcus Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>566330106</cusip>
    <value>1039560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44312</Sole>
      <Shared>44312</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marex Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5S37H101</cusip>
    <value>22728865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>372910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>372910</Sole>
      <Shared>372910</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marinemax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>567908108</cusip>
    <value>1883513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51434</Sole>
      <Shared>51434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Markel Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>570535104</cusip>
    <value>7755403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3971</Sole>
      <Shared>3971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marketaxess Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57060D108</cusip>
    <value>15644256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137847</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137847</Sole>
      <Shared>137847</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marketaxess Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57060D108</cusip>
    <value>624195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marketaxess Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57060D108</cusip>
    <value>726336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marriott International Inc/Md - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571903202</cusip>
    <value>7819449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21100</Sole>
      <Shared>21100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marriott International Inc/Md - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571903202</cusip>
    <value>333531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marsh &amp; Mclennan Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>571748102</cusip>
    <value>12607919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75646</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75646</Sole>
      <Shared>75646</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marsh &amp; Mclennan Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571748102</cusip>
    <value>783349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Martin Marietta Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>573284106</cusip>
    <value>1553630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2694</Sole>
      <Shared>2694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marvell Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>573874104</cusip>
    <value>66846516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224400</Sole>
      <Shared>224400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marvell Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>573874104</cusip>
    <value>109742676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>368400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>368400</Sole>
      <Shared>368400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marvell Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>573874104</cusip>
    <value>219991765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>738500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>738500</Sole>
      <Shared>738500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastec Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576323109</cusip>
    <value>1164968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastec Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576323109</cusip>
    <value>291242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>69104366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134549</Sole>
      <Shared>134549</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>11196480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21800</Sole>
      <Shared>21800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>3081600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Matador Resources Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576485205</cusip>
    <value>1194720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>24000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Matador Resources Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576485205</cusip>
    <value>214054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Match Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57667L107</cusip>
    <value>589775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mativ Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>808541106</cusip>
    <value>2418168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>319441</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>319441</Sole>
      <Shared>319441</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mattel Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>577081102</cusip>
    <value>4745905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>341924</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>341924</Sole>
      <Shared>341924</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Matthews International Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>577128101</cusip>
    <value>770181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28610</Sole>
      <Shared>28610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maxcyte Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57777K106</cusip>
    <value>96325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78313</Sole>
      <Shared>78313</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maxlinear Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57776J100</cusip>
    <value>43756045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>341764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>341764</Sole>
      <Shared>341764</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maxlinear Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57776J100</cusip>
    <value>230454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maxlinear Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57776J100</cusip>
    <value>281666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mayville Engineering Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>578605107</cusip>
    <value>6362506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169848</Sole>
      <Shared>169848</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mbia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55262C100</cusip>
    <value>1945627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>298409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>298409</Sole>
      <Shared>298409</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McCormick &amp; Company</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>579780206</cusip>
    <value>786552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15600</Sole>
      <Shared>15600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McCormick &amp; Company</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>579780206</cusip>
    <value>1280668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25400</Sole>
      <Shared>25400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mcdonald's Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>580135101</cusip>
    <value>29925479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110708</Sole>
      <Shared>110708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mcdonald's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>580135101</cusip>
    <value>12893787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47700</Sole>
      <Shared>47700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mcdonald's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>580135101</cusip>
    <value>17732336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65600</Sole>
      <Shared>65600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mckesson Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58155Q103</cusip>
    <value>101416632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134220</Sole>
      <Shared>134220</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mckesson Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58155Q103</cusip>
    <value>3173520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mediaalpha Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58450V104</cusip>
    <value>323652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25748</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25748</Sole>
      <Shared>25748</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medical Properties Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58463J304</cusip>
    <value>4843751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1048431</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1048431</Sole>
      <Shared>1048431</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medifast Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58470H101</cusip>
    <value>806689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76031</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76031</Sole>
      <Shared>76031</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medline Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58507V107</cusip>
    <value>15172371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>384695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>384695</Sole>
      <Shared>384695</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5960L103</cusip>
    <value>5136973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65665</Sole>
      <Shared>65665</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G5960L103</cusip>
    <value>7627425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97500</Sole>
      <Shared>97500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G5960L103</cusip>
    <value>3340421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42700</Sole>
      <Shared>42700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercadolibre Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58733R102</cusip>
    <value>50787606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29921</Sole>
      <Shared>29921</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercadolibre Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58733R102</cusip>
    <value>339478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercer International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>588056101</cusip>
    <value>37280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56485</Sole>
      <Shared>56485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merck &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58933Y105</cusip>
    <value>39423800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>306800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>306800</Sole>
      <Shared>306800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merck &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58933Y105</cusip>
    <value>7902750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61500</Sole>
      <Shared>61500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercury Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>589378108</cusip>
    <value>3131648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercury Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>589378108</cusip>
    <value>3082716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25200</Sole>
      <Shared>25200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merit Medical Systems Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>589889AB0</cusip>
    <value>49053550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45500000</Sole>
      <Shared>45500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merlin Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>590106100</cusip>
    <value>569000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30303M102</cusip>
    <value>249948108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>443729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>443729</Sole>
      <Shared>443729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30303M102</cusip>
    <value>68045432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120800</Sole>
      <Shared>120800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30303M102</cusip>
    <value>210614131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>373900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>373900</Sole>
      <Shared>373900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metalla Royalty &amp; Streaming Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59124U605</cusip>
    <value>1221017</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160449</Sole>
      <Shared>160449</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Methanex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59151K108</cusip>
    <value>8730195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>189170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>189170</Sole>
      <Shared>189170</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Methanex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59151K108</cusip>
    <value>507650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>11000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Methode Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>591520200</cusip>
    <value>3916091</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206436</Sole>
      <Shared>206436</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metlife Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59156R108</cusip>
    <value>1590668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18800</Sole>
      <Shared>18800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metlife Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59156R108</cusip>
    <value>431511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metropolitan Bank Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>591774104</cusip>
    <value>7060056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71487</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71487</Sole>
      <Shared>71487</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mettler-Toledo International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>592688105</cusip>
    <value>13256721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10377</Sole>
      <Shared>10377</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mettler-Toledo International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>592688105</cusip>
    <value>1277510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mfa Financial Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55272X607</cusip>
    <value>2080249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>214680</Sole>
      <Shared>214680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mge Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55277P104</cusip>
    <value>10134280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124286</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124286</Sole>
      <Shared>124286</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mgic Investment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>552848103</cusip>
    <value>17407578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>617290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>617290</Sole>
      <Shared>617290</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mgm Resorts International - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>552953101</cusip>
    <value>2454948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51348</Sole>
      <Shared>51348</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mgm Resorts International - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>552953101</cusip>
    <value>5483807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114700</Sole>
      <Shared>114700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mgp Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55303J106</cusip>
    <value>922638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52662</Sole>
      <Shared>52662</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Miami International Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59356Q108</cusip>
    <value>204380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595017104</cusip>
    <value>5946240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65200</Sole>
      <Shared>65200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595017104</cusip>
    <value>3027840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33200</Sole>
      <Shared>33200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>595017BG8</cusip>
    <value>84295350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76500000</Sole>
      <Shared>76500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>595112103</cusip>
    <value>382521317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>331391</Sole>
      <Shared>331391</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595112103</cusip>
    <value>149249697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129300</Sole>
      <Shared>129300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595112103</cusip>
    <value>818968755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>709500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>709500</Sole>
      <Shared>709500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>594918104</cusip>
    <value>623853942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1672441</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1672441</Sole>
      <Shared>1672441</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594918104</cusip>
    <value>59347482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159100</Sole>
      <Shared>159100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594918104</cusip>
    <value>635364966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1703300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1703300</Sole>
      <Shared>1703300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microvast Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59516C106</cusip>
    <value>708619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>605657</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>605657</Sole>
      <Shared>605657</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Miller Industries Inc/Tn - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>600551204</cusip>
    <value>1395730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27287</Sole>
      <Shared>27287</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Millrose Properties Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>601137102</cusip>
    <value>225375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mimedx Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>602496101</cusip>
    <value>205644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53414</Sole>
      <Shared>53414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mineralys Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>603170101</cusip>
    <value>19921223</value>
    <shrsOrPrnAmt>
      <sshPrnamt>738370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>738370</Sole>
      <Shared>738370</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mineralys Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>603170101</cusip>
    <value>202350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MiniMed Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60365F109</cusip>
    <value>3860314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>258215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>258215</Sole>
      <Shared>258215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mirion Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60471A101</cusip>
    <value>455422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25400</Sole>
      <Shared>25400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mitek Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>606710200</cusip>
    <value>1006500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MKS Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55306N104</cusip>
    <value>266880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MKS Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55306N104</cusip>
    <value>355840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mobileye Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60741F104</cusip>
    <value>1072544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110800</Sole>
      <Shared>110800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moderna Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60770K107</cusip>
    <value>1274546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moderna Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60770K107</cusip>
    <value>2745176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39200</Sole>
      <Shared>39200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Modine Manufacturing Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>607828100</cusip>
    <value>2147375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8042</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8042</Sole>
      <Shared>8042</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Modine Manufacturing Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>607828100</cusip>
    <value>2323074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Modine Manufacturing Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>607828100</cusip>
    <value>3551366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molina Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60855R100</cusip>
    <value>22793843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99667</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99667</Sole>
      <Shared>99667</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molina Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60855R100</cusip>
    <value>411660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molina Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60855R100</cusip>
    <value>6655170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29100</Sole>
      <Shared>29100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molson Coors Beverage Co - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60871R209</cusip>
    <value>8755870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224740</Sole>
      <Shared>224740</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molson Coors Beverage Co - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60871R209</cusip>
    <value>502584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monarch Casino &amp; Resort Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>609027107</cusip>
    <value>11183955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84978</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84978</Sole>
      <Shared>84978</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monday.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M7S64H106</cusip>
    <value>4574179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63188</Sole>
      <Shared>63188</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monday.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64H106</cusip>
    <value>2482977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34300</Sole>
      <Shared>34300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monday.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64H106</cusip>
    <value>4683633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64700</Sole>
      <Shared>64700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mondelez International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>609207105</cusip>
    <value>844464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mongodb Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60937P106</cusip>
    <value>3621674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10782</Sole>
      <Shared>10782</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mongodb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60937P106</cusip>
    <value>4971320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>14800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mongodb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60937P106</cusip>
    <value>10648030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31700</Sole>
      <Shared>31700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monster Beverage Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61174X109</cusip>
    <value>951588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monster Beverage Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61174X109</cusip>
    <value>490212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moody's Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>615369105</cusip>
    <value>2900047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6403</Sole>
      <Shared>6403</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moody's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>615369105</cusip>
    <value>362336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moody's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>615369105</cusip>
    <value>226460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
      <Shared>500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moog Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>615394202</cusip>
    <value>10555311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24904</Sole>
      <Shared>24904</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MoonLake Immunotherapeutics - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>61559X104</cusip>
    <value>1143668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58740</Sole>
      <Shared>58740</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MoonLake Immunotherapeutics - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61559X104</cusip>
    <value>379665</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19500</Sole>
      <Shared>19500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morgan Stanley - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>617446448</cusip>
    <value>56440800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270000</Sole>
      <Shared>270000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morgan Stanley - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>617446448</cusip>
    <value>1881360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morningstar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>617700109</cusip>
    <value>11872342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76095</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76095</Sole>
      <Shared>76095</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mosaic Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61945C103</cusip>
    <value>2140190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101000</Sole>
      <Shared>101000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mosaic Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61945C103</cusip>
    <value>2347852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110800</Sole>
      <Shared>110800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorola Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>620076307</cusip>
    <value>2282849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5497</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5497</Sole>
      <Shared>5497</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorola Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>620076307</cusip>
    <value>415290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mountain Lake Acquisition Corp II. - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6301L125</cusip>
    <value>3009000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Movado Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>624580106</cusip>
    <value>691502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17591</Sole>
      <Shared>17591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Movado Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>624580106</cusip>
    <value>4807613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122300</Sole>
      <Shared>122300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mp Materials Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>553368101</cusip>
    <value>7382118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131800</Sole>
      <Shared>131800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mp Materials Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>553368101</cusip>
    <value>2481243</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44300</Sole>
      <Shared>44300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Msa Safety Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>553498106</cusip>
    <value>9563842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54782</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54782</Sole>
      <Shared>54782</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Msci Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55354G100</cusip>
    <value>448032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mueller Water Products Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>624758108</cusip>
    <value>4772015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184747</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184747</Sole>
      <Shared>184747</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Murphy Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>626755102</cusip>
    <value>4350836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8074</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8074</Sole>
      <Shared>8074</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Myers Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>628464109</cusip>
    <value>3605787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102118</Sole>
      <Shared>102118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Myr Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55405W104</cusip>
    <value>18915120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37800</Sole>
      <Shared>37800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Myriad Genetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>62855J104</cusip>
    <value>255123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44680</Sole>
      <Shared>44680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>N-Able Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>62878D100</cusip>
    <value>1763802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>480600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>480600</Sole>
      <Shared>480600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nabors Industries Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6359F137</cusip>
    <value>450462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5362</Sole>
      <Shared>5362</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>631103108</cusip>
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      <sshPrnamt>168360</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168360</Sole>
      <Shared>168360</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Natera Inc - US</nameOfIssuer>
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    <cusip>632307104</cusip>
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      <sshPrnamt>168837</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168837</Sole>
      <Shared>168837</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <cusip>632307104</cusip>
    <value>461465</value>
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      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>National Beverage Corp - US</nameOfIssuer>
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    <cusip>635017106</cusip>
    <value>650676</value>
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      <sshPrnamt>20855</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20855</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>National Cinemedia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>635309206</cusip>
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      <sshPrnamt>146572</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146572</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>National Energy Services Reunited Corp - US</nameOfIssuer>
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    <cusip>G6375R107</cusip>
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      <sshPrnamt>144952</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144952</Sole>
      <Shared>144952</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>National Grid Plc - US ADR</nameOfIssuer>
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    <cusip>636274409</cusip>
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      <sshPrnamt>8632</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8632</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>National Health Investors Inc - US REIT</nameOfIssuer>
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    <cusip>63633D104</cusip>
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      <sshPrnamt>100628</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100628</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>National Storage Affiliates Trust - US REIT</nameOfIssuer>
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    <cusip>637870106</cusip>
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      <sshPrnamt>366729</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366729</Sole>
      <Shared>366729</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Natwest Group Plc - US ADR</nameOfIssuer>
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      <sshPrnamt>165842</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165842</Sole>
      <Shared>165842</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Navient Corp - US</nameOfIssuer>
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    <cusip>63938C108</cusip>
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      <sshPrnamt>444930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>444930</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Navient Corp - US</nameOfIssuer>
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    <cusip>63938C108</cusip>
    <value>106375</value>
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      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Navigator Holdings Ltd - US</nameOfIssuer>
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    <cusip>Y62132108</cusip>
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      <sshPrnamt>203793</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203793</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Navitas Semiconductor Corp - US</nameOfIssuer>
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    <cusip>63942X106</cusip>
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      <sshPrnamt>223486</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>223486</Sole>
      <Shared>223486</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Navitas Semiconductor Corp - US</nameOfIssuer>
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    <cusip>63942X106</cusip>
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      <sshPrnamt>50800</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50800</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Navitas Semiconductor Corp - US</nameOfIssuer>
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    <cusip>63942X106</cusip>
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      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Nebius Group NV - US</nameOfIssuer>
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    <cusip>N97284108</cusip>
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      <sshPrnamt>175500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>175500</Sole>
      <Shared>175500</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Nebius Group NV - US</nameOfIssuer>
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    <cusip>N97284108</cusip>
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      <sshPrnamt>124200</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124200</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Nektar Therapeutics - US</nameOfIssuer>
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      <sshPrnamt>33600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33600</Sole>
      <Shared>33600</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Nektar Therapeutics - US</nameOfIssuer>
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      <sshPrnamt>3100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Neogen Corp - US</nameOfIssuer>
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      <sshPrnamt>18700</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
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      <None>0</None>
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      <sshPrnamt>24000</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
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      <None>0</None>
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    <nameOfIssuer>Nerdwallet Inc - US</nameOfIssuer>
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      <sshPrnamt>44890</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44890</Sole>
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      <None>0</None>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>397515</Sole>
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      <sshPrnamt>66700</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66700</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>4700</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
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      <None>0</None>
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      <sshPrnamt>31860</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31860</Sole>
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      <None>0</None>
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      <sshPrnamt>6100</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
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      <sshPrnamt>7500</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
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      <Sole>2674789</Sole>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>764700</Sole>
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      <sshPrnamt>2642900</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2642900</Sole>
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      <None>0</None>
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      <sshPrnamt>38630</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38630</Sole>
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      <sshPrnamt>655291</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>655291</Sole>
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      <None>0</None>
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      <sshPrnamt>1356147</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1356147</Sole>
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  <infoTable>
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      <sshPrnamt>3835200</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3835200</Sole>
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      <None>0</None>
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  <infoTable>
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      <sshPrnamt>124861</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124861</Sole>
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  <infoTable>
    <nameOfIssuer>Neuropace Inc - US</nameOfIssuer>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109874</Sole>
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    <value>374506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58700</Sole>
      <Shared>58700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Fortress Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>644393100</cusip>
    <value>168924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>465226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>465226</Sole>
      <Shared>465226</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Found Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64440N103</cusip>
    <value>111556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72439</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72439</Sole>
      <Shared>72439</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Linde Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G54950103</cusip>
    <value>7057584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13600</Sole>
      <Shared>13600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Linde Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G54950103</cusip>
    <value>1712502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New York Times Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>650111107</cusip>
    <value>11206667</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160141</Sole>
      <Shared>160141</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New York Times Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>650111107</cusip>
    <value>461868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New York Times Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>650111107</cusip>
    <value>1798486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25700</Sole>
      <Shared>25700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newamsterdam Pharma Co NV - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N62509109</cusip>
    <value>2692899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79460</Sole>
      <Shared>79460</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NewHold Investment Corp IV - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6486G123</cusip>
    <value>4100000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400000</Sole>
      <Shared>400000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>651639106</cusip>
    <value>29706244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>318054</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>318054</Sole>
      <Shared>318054</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>651639106</cusip>
    <value>5351820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57300</Sole>
      <Shared>57300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>651639106</cusip>
    <value>25124600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269000</Sole>
      <Shared>269000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>News Corp/new-cl A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65249B109</cusip>
    <value>5636261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>226994</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>226994</Sole>
      <Shared>226994</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NewtekOne Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>652526203</cusip>
    <value>2348614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158583</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158583</Sole>
      <Shared>158583</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nexa Resources Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L67359106</cusip>
    <value>307212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25099</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25099</Sole>
      <Shared>25099</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NexGen Energy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65340P106</cusip>
    <value>101412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdecade Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65342K105</cusip>
    <value>189231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25097</Sole>
      <Shared>25097</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdecade Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65342K105</cusip>
    <value>223184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29600</Sole>
      <Shared>29600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdecade Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65342K105</cusip>
    <value>754000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdoor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65345M108</cusip>
    <value>6177846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2721518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2721518</Sole>
      <Shared>2721518</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextera Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65339F101</cusip>
    <value>10225205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116500</Sole>
      <Shared>116500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextera Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65339F101</cusip>
    <value>2624323</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>29900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextnav Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65345N106</cusip>
    <value>12880356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>722398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>722398</Sole>
      <Shared>722398</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextnav Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65345N106</cusip>
    <value>830878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46600</Sole>
      <Shared>46600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextpower Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65290E101</cusip>
    <value>8205291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68871</Sole>
      <Shared>68871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextpower Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65290E101</cusip>
    <value>786324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextpower Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65290E101</cusip>
    <value>857808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Niagen Bioscience Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>171077407</cusip>
    <value>274528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86059</Sole>
      <Shared>86059</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nice Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>653656108</cusip>
    <value>2816350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31000</Sole>
      <Shared>31000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nice Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>653656108</cusip>
    <value>708630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7800</Sole>
      <Shared>7800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nike Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>654106103</cusip>
    <value>28024383</value>
    <shrsOrPrnAmt>
      <sshPrnamt>682689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>682689</Sole>
      <Shared>682689</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nike Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654106103</cusip>
    <value>12175430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>296600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>296600</Sole>
      <Shared>296600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nike Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654106103</cusip>
    <value>32450025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>790500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>790500</Sole>
      <Shared>790500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nio Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>62914V106</cusip>
    <value>8109156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1602600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1602600</Sole>
      <Shared>1602600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nio Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>62914V106</cusip>
    <value>777216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>153600</Sole>
      <Shared>153600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NioCorp Developments Ltd</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>654484609</cusip>
    <value>563935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116999</Sole>
      <Shared>116999</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nlight Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65487K100</cusip>
    <value>4759780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68368</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68368</Sole>
      <Shared>68368</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nlight Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65487K100</cusip>
    <value>264556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nmi Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>629209305</cusip>
    <value>10107647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>245988</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>245988</Sole>
      <Shared>245988</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nnn Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>637417106</cusip>
    <value>386246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8301</Sole>
      <Shared>8301</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Noble Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G65431127</cusip>
    <value>216340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nokia Oyj - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>654902204</cusip>
    <value>19526036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1470334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1470334</Sole>
      <Shared>1470334</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nokia Oyj - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654902204</cusip>
    <value>3630752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273400</Sole>
      <Shared>273400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nokia Oyj - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654902204</cusip>
    <value>10921472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>822400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>822400</Sole>
      <Shared>822400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nordic American Tankers Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G65773106</cusip>
    <value>10164471</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1834742</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1834742</Sole>
      <Shared>1834742</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Norfolk Southern Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>655844108</cusip>
    <value>203585346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>647145</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>647145</Sole>
      <Shared>647145</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Dynasty Minerals Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66510M204</cusip>
    <value>59493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30986</Sole>
      <Shared>30986</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Dynasty Minerals Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>66510M204</cusip>
    <value>1187520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>618500</Sole>
      <Shared>618500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Oil And Gas Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>665531307</cusip>
    <value>9969051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>549259</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>549259</Sole>
      <Shared>549259</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrim Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>666762109</cusip>
    <value>1242863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44804</Sole>
      <Shared>44804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrop Grumman Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>666807102</cusip>
    <value>19973610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39217</Sole>
      <Shared>39217</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrop Grumman Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>666807102</cusip>
    <value>1629792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Norwegian Cruise Line Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G66721104</cusip>
    <value>65612244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3108112</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3108112</Sole>
      <Shared>3108112</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Norwegian Cruise Line Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G66721104</cusip>
    <value>4876410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>231000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>231000</Sole>
      <Shared>231000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nov Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>62955J103</cusip>
    <value>1850900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99779</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99779</Sole>
      <Shared>99779</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nova Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M7516K103</cusip>
    <value>694963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1280</Sole>
      <Shared>1280</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novagold Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66987E206</cusip>
    <value>4260085</value>
    <shrsOrPrnAmt>
      <sshPrnamt>713582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>713582</Sole>
      <Shared>713582</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novanta Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>67000B203</cusip>
    <value>13480000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novartis Ag - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>66987V109</cusip>
    <value>3698592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23600</Sole>
      <Shared>23600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novartis Ag - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>66987V109</cusip>
    <value>4059048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>25900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novavax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>670002401</cusip>
    <value>1181909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125468</Sole>
      <Shared>125468</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novavax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670002401</cusip>
    <value>4115598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>436900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>436900</Sole>
      <Shared>436900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novo Nordisk A/S - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>670100205</cusip>
    <value>8743393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182382</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>182382</Sole>
      <Shared>182382</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novo Nordisk A/S - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670100205</cusip>
    <value>22910526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>477900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>477900</Sole>
      <Shared>477900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novo Nordisk A/S - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670100205</cusip>
    <value>27229920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>568000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>568000</Sole>
      <Shared>568000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novocure Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6674U108</cusip>
    <value>4075759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269027</Sole>
      <Shared>269027</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nrg Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>629377508</cusip>
    <value>10457750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71599</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71599</Sole>
      <Shared>71599</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nrg Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>629377508</cusip>
    <value>248302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nrg Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>629377508</cusip>
    <value>438180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU Holdings Ltd/Cayman Islands - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>2015476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150859</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150859</Sole>
      <Shared>150859</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU Holdings Ltd/Cayman Islands - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>223112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU Holdings Ltd/Cayman Islands - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6683N103</cusip>
    <value>4113544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>307900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>307900</Sole>
      <Shared>307900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nucor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670346105</cusip>
    <value>6571125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nucor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670346105</cusip>
    <value>5680125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25500</Sole>
      <Shared>25500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NuScale Power Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67079K100</cusip>
    <value>1434290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143000</Sole>
      <Shared>143000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NuScale Power Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67079K100</cusip>
    <value>2396167</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238900</Sole>
      <Shared>238900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutanix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67059N108</cusip>
    <value>1839656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36100</Sole>
      <Shared>36100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutanix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67059N108</cusip>
    <value>4423328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86800</Sole>
      <Shared>86800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutanix Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>67059NAK4</cusip>
    <value>63629250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64500000</Sole>
      <Shared>64500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67077M108</cusip>
    <value>4819452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76560</Sole>
      <Shared>76560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67077M108</cusip>
    <value>497305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67077M108</cusip>
    <value>535075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>8500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nuvalent Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>670703107</cusip>
    <value>25449398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206068</Sole>
      <Shared>206068</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nuvation Bio Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>67080NAA9</cusip>
    <value>3663275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500000</Sole>
      <Shared>3500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvent Electric Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6700G107</cusip>
    <value>2832487</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvent Electric Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6700G107</cusip>
    <value>13721449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80900</Sole>
      <Shared>80900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67066G104</cusip>
    <value>467726182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2337579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2337579</Sole>
      <Shared>2337579</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67066G104</cusip>
    <value>176559416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>882400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>882400</Sole>
      <Shared>882400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67066G104</cusip>
    <value>804761980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4022000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4022000</Sole>
      <Shared>4022000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvr Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>62944T105</cusip>
    <value>395177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58</Sole>
      <Shared>58</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NWPX Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>667746101</cusip>
    <value>201669</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1345</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1345</Sole>
      <Shared>1345</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nxp Semiconductors Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N6596X109</cusip>
    <value>15035105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53500</Sole>
      <Shared>53500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nxp Semiconductors Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N6596X109</cusip>
    <value>1658077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Obsidian Energy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>674482203</cusip>
    <value>2324863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>285961</Sole>
      <Shared>285961</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Occidental Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>674599105</cusip>
    <value>27817690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>572734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>572734</Sole>
      <Shared>572734</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Occidental Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>674599105</cusip>
    <value>471129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Occidental Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>674599105</cusip>
    <value>20841387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>429100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>429100</Sole>
      <Shared>429100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ocean Capital Acquisition Corp - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G66903132</cusip>
    <value>4092000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400000</Sole>
      <Shared>400000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Octave Specialty Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023139884</cusip>
    <value>1350099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216362</Sole>
      <Shared>216362</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Octave Specialty Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>023139884</cusip>
    <value>321984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51600</Sole>
      <Shared>51600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ocular Therapeutix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67576A100</cusip>
    <value>5132551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>522663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>522663</Sole>
      <Shared>522663</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ocular Therapeutix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67576A100</cusip>
    <value>1683148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171400</Sole>
      <Shared>171400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oculis Holding AG - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H5870P102</cusip>
    <value>430261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31021</Sole>
      <Shared>31021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oddity Tech Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7518J104</cusip>
    <value>248132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16400</Sole>
      <Shared>16400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Odyssey Therapeutics INC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67613T104</cusip>
    <value>826439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44171</Sole>
      <Shared>44171</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ofg Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67103X102</cusip>
    <value>6347646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129359</Sole>
      <Shared>129359</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oklo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02156V109</cusip>
    <value>2710694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51800</Sole>
      <Shared>51800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oklo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02156V109</cusip>
    <value>7509355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143500</Sole>
      <Shared>143500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Okta Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>679295105</cusip>
    <value>17670275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129500</Sole>
      <Shared>129500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Okta Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>679295105</cusip>
    <value>7368300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54000</Sole>
      <Shared>54000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olaplex Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>679369108</cusip>
    <value>466594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227607</Sole>
      <Shared>227607</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Old Dominion Freight Line Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>679580100</cusip>
    <value>8752156</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40407</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40407</Sole>
      <Shared>40407</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Old National Bancorp/In - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>680033107</cusip>
    <value>30765600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1187861</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1187861</Sole>
      <Shared>1187861</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olin Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>680665205</cusip>
    <value>570895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28804</Sole>
      <Shared>28804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>680665205</cusip>
    <value>358742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18100</Sole>
      <Shared>18100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ollie's Bargain Outlet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>681116109</cusip>
    <value>1742331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22663</Sole>
      <Shared>22663</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ollie's Bargain Outlet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681116109</cusip>
    <value>1114760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ollie's Bargain Outlet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681116109</cusip>
    <value>261392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omada Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68170A108</cusip>
    <value>11091686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>505316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>505316</Sole>
      <Shared>505316</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omega Healthcare Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681936100</cusip>
    <value>214560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omnicom Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>681919106</cusip>
    <value>8648854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118754</Sole>
      <Shared>118754</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omnicom Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681919106</cusip>
    <value>487961</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H5919C104</cusip>
    <value>13522293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>381770</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>381770</Sole>
      <Shared>381770</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H5919C104</cusip>
    <value>1710786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48300</Sole>
      <Shared>48300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H5919C104</cusip>
    <value>1328250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37500</Sole>
      <Shared>37500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>682189105</cusip>
    <value>35321657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>373616</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>373616</Sole>
      <Shared>373616</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682189105</cusip>
    <value>7534838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79700</Sole>
      <Shared>79700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682189105</cusip>
    <value>9898338</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104700</Sole>
      <Shared>104700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>682189AU9</cusip>
    <value>1819350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500000</Sole>
      <Shared>1500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Once Upon a Farm PBC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68237F108</cusip>
    <value>2136003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104297</Sole>
      <Shared>104297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ondas Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68236H204</cusip>
    <value>314768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38200</Sole>
      <Shared>38200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>One Gas Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68235P108</cusip>
    <value>7767500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100785</Sole>
      <Shared>100785</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onemain Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68268W103</cusip>
    <value>5275795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86531</Sole>
      <Shared>86531</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onemain Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68268W103</cusip>
    <value>347529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oneok Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682680103</cusip>
    <value>391230</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oneok Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682680103</cusip>
    <value>2938572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33800</Sole>
      <Shared>33800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onewater Marine Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68280L101</cusip>
    <value>1102747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97848</Sole>
      <Shared>97848</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onterris Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>615111101</cusip>
    <value>5768500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>285428</Sole>
      <Shared>285428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onto Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>683344105</cusip>
    <value>9275810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24510</Sole>
      <Shared>24510</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>683712103</cusip>
    <value>231000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>683712137</cusip>
    <value>16439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58128</Sole>
      <Shared>58128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>683712145</cusip>
    <value>13951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58128</Sole>
      <Shared>58128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>683712129</cusip>
    <value>28773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58128</Sole>
      <Shared>58128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Openlane Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48238T109</cusip>
    <value>657077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15933</Sole>
      <Shared>15933</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opko Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68375N103</cusip>
    <value>367232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244821</Sole>
      <Shared>244821</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oppfi Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68386H103</cusip>
    <value>1551989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156293</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156293</Sole>
      <Shared>156293</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Option Care Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68404L201</cusip>
    <value>5041461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>240413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>240413</Sole>
      <Shared>240413</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Option Care Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68404L201</cusip>
    <value>448758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>21400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OR Royalties Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68390D106</cusip>
    <value>408027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68389X105</cusip>
    <value>184946686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1262004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1262004</Sole>
      <Shared>1262004</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68389X105</cusip>
    <value>38293515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261300</Sole>
      <Shared>261300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68389X105</cusip>
    <value>103112580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>703600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>703600</Sole>
      <Shared>703600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orasure Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68554V108</cusip>
    <value>1787697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400829</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400829</Sole>
      <Shared>400829</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'Reilly Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67103H107</cusip>
    <value>64826663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>703949</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>703949</Sole>
      <Shared>703949</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'Reilly Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67103H107</cusip>
    <value>911691</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Organogenesis Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68621F102</cusip>
    <value>58896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24237</Sole>
      <Shared>24237</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Organon &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68622V106</cusip>
    <value>151377</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11180</Sole>
      <Shared>11180</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oric Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68622P109</cusip>
    <value>459289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42409</Sole>
      <Shared>42409</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orion Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68628V308</cusip>
    <value>2509880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>149220</Sole>
      <Shared>149220</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orla Mining Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68634K106</cusip>
    <value>2180076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222684</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222684</Sole>
      <Shared>222684</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ormat Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>686688102</cusip>
    <value>1579050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ormat Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>686688102</cusip>
    <value>446490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orthofix Medical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68752M108</cusip>
    <value>2459007</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269038</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269038</Sole>
      <Shared>269038</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orthopediatrics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68752L100</cusip>
    <value>3252521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170022</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170022</Sole>
      <Shared>170022</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oscar Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>687793109</cusip>
    <value>29055948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1018792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1018792</Sole>
      <Shared>1018792</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oscar Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>687793109</cusip>
    <value>13977652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>490100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>490100</Sole>
      <Shared>490100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oscar Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>687793109</cusip>
    <value>4192440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147000</Sole>
      <Shared>147000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oshkosh Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>688239201</cusip>
    <value>458905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2990</Sole>
      <Shared>2990</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Osi Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>671044105</cusip>
    <value>2733750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Osisko Gold Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68828E809</cusip>
    <value>821854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>334087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>334087</Sole>
      <Shared>334087</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otis Worldwide Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68902V107</cusip>
    <value>38695218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>540436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>540436</Sole>
      <Shared>540436</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otis Worldwide Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68902V107</cusip>
    <value>730320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otis Worldwide Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68902V107</cusip>
    <value>472560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otter Tail Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>689648103</cusip>
    <value>4736457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52639</Sole>
      <Shared>52639</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ouster Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68989M202</cusip>
    <value>500160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Outdoor Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00175J107</cusip>
    <value>133619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58605</Sole>
      <Shared>58605</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Outfront Media Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69007J304</cusip>
    <value>10686443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>326204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>326204</Sole>
      <Shared>326204</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ovintiv Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69047Q102</cusip>
    <value>910845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17300</Sole>
      <Shared>17300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Owens Corning - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>690742101</cusip>
    <value>222544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oxford Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>691497309</cusip>
    <value>2542581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72916</Sole>
      <Shared>72916</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Paccar Inc - US</nameOfIssuer>
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    <cusip>693718108</cusip>
    <value>19070972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158766</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158766</Sole>
      <Shared>158766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pacer US Cash Cows 100 ETF - US ETP</nameOfIssuer>
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    <cusip>69374H881</cusip>
    <value>1399500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22500</Sole>
      <Shared>22500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pacific Biosciences Of California Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69404D108</cusip>
    <value>1150308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>684707</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>684707</Sole>
      <Shared>684707</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Packaging Corp Of America - US</nameOfIssuer>
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    <cusip>695156109</cusip>
    <value>6602501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27709</Sole>
      <Shared>27709</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagaya Technologies Ltd - A - US</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>161811</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161811</Sole>
      <Shared>161811</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagaya Technologies Ltd - A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
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    <value>465375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25500</Sole>
      <Shared>25500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagaya Technologies Ltd - A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64L123</cusip>
    <value>2345125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128500</Sole>
      <Shared>128500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69608A108</cusip>
    <value>143813509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1232652</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1232652</Sole>
      <Shared>1232652</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69608A108</cusip>
    <value>32609265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279500</Sole>
      <Shared>279500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69608A108</cusip>
    <value>129597036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1110800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1110800</Sole>
      <Shared>1110800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palo Alto Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697435105</cusip>
    <value>65441738</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>191900</Sole>
      <Shared>191900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palo Alto Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697435105</cusip>
    <value>44673620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131000</Sole>
      <Shared>131000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palo Alto Networks Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>23248VAD7</cusip>
    <value>116662000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70000000</Sole>
      <Shared>70000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palvella Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>697947109</cusip>
    <value>1208195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7906</Sole>
      <Shared>7906</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pan American Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>697900108</cusip>
    <value>5010478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111866</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111866</Sole>
      <Shared>111866</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pan American Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697900108</cusip>
    <value>8778840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196000</Sole>
      <Shared>196000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pangaea Logistics Solutions Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6891L105</cusip>
    <value>1831382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281751</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>281751</Sole>
      <Shared>281751</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Papa John's International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>698813102</cusip>
    <value>735400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Papa John's International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>698813102</cusip>
    <value>419178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Par Pacific Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69888T207</cusip>
    <value>3544256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63200</Sole>
      <Shared>63200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Par Pacific Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69888T207</cusip>
    <value>229928</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parabilis Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>698955101</cusip>
    <value>1205512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44045</Sole>
      <Shared>44045</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paramount Skydance Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69932A204</cusip>
    <value>11680008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1184585</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1184585</Sole>
      <Shared>1184585</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paramount Skydance Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69932A204</cusip>
    <value>953462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96700</Sole>
      <Shared>96700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paramount Skydance Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69932A204</cusip>
    <value>17912662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1816700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1816700</Sole>
      <Shared>1816700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parker-Hannifin Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>701094104</cusip>
    <value>14318699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14639</Sole>
      <Shared>14639</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parker-Hannifin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>701094104</cusip>
    <value>684684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pathward Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59100U108</cusip>
    <value>4261674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48951</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48951</Sole>
      <Shared>48951</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Patrick Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>703343103</cusip>
    <value>1155648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12872</Sole>
      <Shared>12872</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Patriot Acquisition Corp - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6951A122</cusip>
    <value>7492500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>750000</Sole>
      <Shared>750000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pattern Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70339W104</cusip>
    <value>6883974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273282</Sole>
      <Shared>273282</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paychex Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>704326107</cusip>
    <value>1494616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15200</Sole>
      <Shared>15200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paycom Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70432V102</cusip>
    <value>8207532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65305</Sole>
      <Shared>65305</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paycom Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70432V102</cusip>
    <value>1445320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paylocity Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70438V106</cusip>
    <value>1127879</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10790</Sole>
      <Shared>10790</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paymentus Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70439P108</cusip>
    <value>350320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paypal Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70450Y103</cusip>
    <value>7988300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185000</Sole>
      <Shared>185000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paypal Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70450Y103</cusip>
    <value>30018736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>695200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>695200</Sole>
      <Shared>695200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pbf Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69318G106</cusip>
    <value>11412820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250721</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250721</Sole>
      <Shared>250721</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pbf Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69318G106</cusip>
    <value>609968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDD Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>722304102</cusip>
    <value>11149924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146171</Sole>
      <Shared>146171</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDD Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>722304102</cusip>
    <value>14661016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192200</Sole>
      <Shared>192200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDD Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>722304102</cusip>
    <value>38132372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>499900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>499900</Sole>
      <Shared>499900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peabody Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>704551100</cusip>
    <value>243292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10523</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10523</Sole>
      <Shared>10523</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peabody Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>704551100</cusip>
    <value>386104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peace Acquisition Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6956D105</cusip>
    <value>2976000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peace Acquisition Corp - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>G6956D139</cusip>
    <value>22590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peace Acquisition Corp - US CVR</nameOfIssuer>
    <titleOfClass>Contingent Value Rights</titleOfClass>
    <cusip>G6956D113</cusip>
    <value>141030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peloton Interactive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70614W100</cusip>
    <value>1658937</value>
    <shrsOrPrnAmt>
      <sshPrnamt>280700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>280700</Sole>
      <Shared>280700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peloton Interactive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70614W100</cusip>
    <value>2868714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>485400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>485400</Sole>
      <Shared>485400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penguin Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>706915105</cusip>
    <value>381038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5013</Sole>
      <Shared>5013</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penguin Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>706915105</cusip>
    <value>2234694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>29400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penn Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>707569109</cusip>
    <value>5260199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>246264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>246264</Sole>
      <Shared>246264</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penn Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>707569109</cusip>
    <value>320400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennantpark Investment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>708062104</cusip>
    <value>653828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188423</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>188423</Sole>
      <Shared>188423</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennymac Financial Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70932M107</cusip>
    <value>252590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennymac Financial Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70932M107</cusip>
    <value>270010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pentair Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7S00T104</cusip>
    <value>19788399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>258132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>258132</Sole>
      <Shared>258132</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penumbra Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70975L107</cusip>
    <value>126504922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400649</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400649</Sole>
      <Shared>400649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pepsico Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>713448108</cusip>
    <value>19714240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145600</Sole>
      <Shared>145600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pepsico Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>713448108</cusip>
    <value>974880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Performance Food Group Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71377A103</cusip>
    <value>4812448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43049</Sole>
      <Shared>43049</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Performance Food Group Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71377A103</cusip>
    <value>279475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Permian Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71424F105</cusip>
    <value>489706</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26600</Sole>
      <Shared>26600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perpetua Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>714266103</cusip>
    <value>220056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Personalis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71535D106</cusip>
    <value>3675901</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274321</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>274321</Sole>
      <Shared>274321</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perspective Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46489V302</cusip>
    <value>61741</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18106</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18106</Sole>
      <Shared>18106</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petmed Express Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>716382106</cusip>
    <value>156301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81407</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81407</Sole>
      <Shared>81407</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petmed Express Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>716382106</cusip>
    <value>29568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15400</Sole>
      <Shared>15400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petroleo Brasileiro S.A. - ADR (NYSE)</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71654V408</cusip>
    <value>1564288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96800</Sole>
      <Shared>96800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petroleo Brasileiro S.A. - ADR (NYSE)</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71654V408</cusip>
    <value>2740736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169600</Sole>
      <Shared>169600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pfizer Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>717081103</cusip>
    <value>16783760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>697000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>697000</Sole>
      <Shared>697000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pfizer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>717081103</cusip>
    <value>6660528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276600</Sole>
      <Shared>276600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pfizer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>717081103</cusip>
    <value>4286240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>178000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>178000</Sole>
      <Shared>178000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pg&amp;E Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69331C108</cusip>
    <value>68263415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4058467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4058467</Sole>
      <Shared>4058467</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pg&amp;E Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69331C108</cusip>
    <value>326308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>19400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pg&amp;E Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69331C108</cusip>
    <value>198476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pharvaris Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N69605108</cusip>
    <value>454623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13147</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13147</Sole>
      <Shared>13147</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Philip Morris International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718172109</cusip>
    <value>6132849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33900</Sole>
      <Shared>33900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Philip Morris International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718172109</cusip>
    <value>1175915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips 66 - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>718546104</cusip>
    <value>40002132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>236629</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>236629</Sole>
      <Shared>236629</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips 66 - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718546104</cusip>
    <value>1098825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips 66 - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718546104</cusip>
    <value>4631970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27400</Sole>
      <Shared>27400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips Edison &amp; Co Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71844V201</cusip>
    <value>6308010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151562</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151562</Sole>
      <Shared>151562</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phinia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71880K101</cusip>
    <value>5487325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66618</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66618</Sole>
      <Shared>66618</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Photronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>719405102</cusip>
    <value>234216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phreesia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71944F106</cusip>
    <value>3497530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>339896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>339896</Sole>
      <Shared>339896</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinnacle West Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>723484101</cusip>
    <value>3137240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29320</Sole>
      <Shared>29320</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinterest Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72352L106</cusip>
    <value>2250210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107000</Sole>
      <Shared>107000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinterest Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72352L106</cusip>
    <value>1131414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53800</Sole>
      <Shared>53800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Piper Sandler Cos - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>724078209</cusip>
    <value>281764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3895</Sole>
      <Shared>3895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pitney Bowes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>724479100</cusip>
    <value>20094266</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1146933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1146933</Sole>
      <Shared>1146933</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Plains Gp Holdings Lp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72651A207</cusip>
    <value>441714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Plains Gp Holdings Lp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72651A207</cusip>
    <value>2645430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109000</Sole>
      <Shared>109000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Fitness Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>72703H101</cusip>
    <value>9062086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173703</Sole>
      <Shared>173703</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Fitness Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703H101</cusip>
    <value>573870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>11000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>72703X106</cusip>
    <value>13386309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>404054</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>404054</Sole>
      <Shared>404054</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703X106</cusip>
    <value>1537232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46400</Sole>
      <Shared>46400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703X106</cusip>
    <value>3959035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119500</Sole>
      <Shared>119500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Playstudios Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>72815G108</cusip>
    <value>35365</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70871</Sole>
      <Shared>70871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Plexus Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>729132100</cusip>
    <value>2420995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8052</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8052</Sole>
      <Shared>8052</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pliant Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>729139105</cusip>
    <value>33891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29729</Sole>
      <Shared>29729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pnc Financial Services Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>693475105</cusip>
    <value>27330420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111000</Sole>
      <Shared>111000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pnc Financial Services Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693475105</cusip>
    <value>1846650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pnc Financial Services Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693475105</cusip>
    <value>2191358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>8900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POET Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>73044W302</cusip>
    <value>5969596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>580700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>580700</Sole>
      <Shared>580700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POET Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>73044W302</cusip>
    <value>456432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44400</Sole>
      <Shared>44400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>73278L105</cusip>
    <value>2858170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>73278L105</cusip>
    <value>1719200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Popular Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>733174700</cusip>
    <value>802183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4886</Sole>
      <Shared>4886</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Porch Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>733245104</cusip>
    <value>314832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20933</Sole>
      <Shared>20933</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Portillo's Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73642K106</cusip>
    <value>1135619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>239582</Sole>
      <Shared>239582</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Post Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>737446104</cusip>
    <value>6982337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79111</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79111</Sole>
      <Shared>79111</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Postal Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73757R102</cusip>
    <value>6668225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270626</Sole>
      <Shared>270626</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powell Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>739128106</cusip>
    <value>22168273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77414</Sole>
      <Shared>77414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powell Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>739128106</cusip>
    <value>2634512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powerfleet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73931J109</cusip>
    <value>2460645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>642466</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>642466</Sole>
      <Shared>642466</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppg Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693506107</cusip>
    <value>327483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppg Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693506107</cusip>
    <value>278967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppl Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69351T106</cusip>
    <value>92230891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2537301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2537301</Sole>
      <Shared>2537301</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pra Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69354N106</cusip>
    <value>6155798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>324160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>324160</Sole>
      <Shared>324160</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prairie Operating Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>739650109</cusip>
    <value>29514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40906</Sole>
      <Shared>40906</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Praxis Precision Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74006W207</cusip>
    <value>730847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2183</Sole>
      <Shared>2183</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Praxis Precision Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74006W207</cusip>
    <value>368269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Preferred Bank/Los Angeles Ca - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>740367404</cusip>
    <value>1064513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10018</Sole>
      <Shared>10018</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pricesmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>741511109</cusip>
    <value>1544358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7906</Sole>
      <Shared>7906</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Primerica Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74164M108</cusip>
    <value>3142399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11057</Sole>
      <Shared>11057</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Primo Brands Corp-A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>741623102</cusip>
    <value>19476651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>796917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>796917</Sole>
      <Shared>796917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Principal Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74251V102</cusip>
    <value>5124723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47548</Sole>
      <Shared>47548</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Privia Health Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74276R102</cusip>
    <value>1595929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62026</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62026</Sole>
      <Shared>62026</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procept Biorobotics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74276L105</cusip>
    <value>3832436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169727</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169727</Sole>
      <Shared>169727</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procore Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74275K108</cusip>
    <value>7059228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173787</Sole>
      <Shared>173787</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procore Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74275K108</cusip>
    <value>1137360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28000</Sole>
      <Shared>28000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procore Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74275K108</cusip>
    <value>1003314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24700</Sole>
      <Shared>24700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>742718109</cusip>
    <value>45798165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>312317</Sole>
      <Shared>312317</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>742718109</cusip>
    <value>18520632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126300</Sole>
      <Shared>126300</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>742718109</cusip>
    <value>3900624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26600</Sole>
      <Shared>26600</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ProFrac Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74319N100</cusip>
    <value>2422125</value>
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      <sshPrnamt>416889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>416889</Sole>
      <Shared>416889</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Progressive Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>743315103</cusip>
    <value>786420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Progressive Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>743315103</cusip>
    <value>15313345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70100</Sole>
      <Shared>70100</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Prologis Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74340W103</cusip>
    <value>975384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prologis Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74340W103</cusip>
    <value>270940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Propetro Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74347M108</cusip>
    <value>10586376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>738241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>738241</Sole>
      <Shared>738241</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ProShares S&amp;P 500 Dividend Aristocrats ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>74348A467</cusip>
    <value>915520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16302</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16302</Sole>
      <Shared>16302</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Proshares Ultra S&amp;P500 - US ETP</nameOfIssuer>
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    <cusip>74347R107</cusip>
    <value>497467</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7383</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7383</Sole>
      <Shared>7383</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Proshares Ultrapro Qqq - US ETP</nameOfIssuer>
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    <cusip>74347X831</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>10241</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10241</Sole>
      <Shared>10241</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Proshares Ultrapro Short S&amp;P 500 - US ETP</nameOfIssuer>
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    <cusip>74350P659</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>6582</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6582</Sole>
      <Shared>6582</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PROSHARES TR</nameOfIssuer>
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    <cusip>74347B201</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>6036</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6036</Sole>
      <Shared>6036</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Prospect Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74348T102</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>709303</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>709303</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Protagonist Therapeutics Inc - US</nameOfIssuer>
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      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Protagonist Therapeutics Inc - US</nameOfIssuer>
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    <cusip>74366E102</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Prothena Corp Plc - US</nameOfIssuer>
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    <cusip>G72800108</cusip>
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      <sshPrnamt>24445</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24445</Sole>
      <Shared>24445</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Prudential Financial Inc - US</nameOfIssuer>
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    <cusip>744320102</cusip>
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      <sshPrnamt>19700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19700</Sole>
      <Shared>19700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Ptc Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69370C100</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>326841</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>326841</Sole>
      <Shared>326841</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ptc Therapeutics Inc - US</nameOfIssuer>
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    <cusip>69366J200</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>13739</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13739</Sole>
      <Shared>13739</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Public Service Enterprise Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>744573106</cusip>
    <value>30935920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>381172</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>381172</Sole>
      <Shared>381172</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Public Storage - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74460D109</cusip>
    <value>678637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2132</Sole>
      <Shared>2132</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Public Storage - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74460D109</cusip>
    <value>1368733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pulmonx Corp - US</nameOfIssuer>
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    <cusip>745848101</cusip>
    <value>14336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11028</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11028</Sole>
      <Shared>11028</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pultegroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>745867101</cusip>
    <value>25443948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185438</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185438</Sole>
      <Shared>185438</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pultegroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>745867101</cusip>
    <value>480235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Purecycle Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74623V103</cusip>
    <value>245490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30270</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30270</Sole>
      <Shared>30270</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Purple Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74640Y106</cusip>
    <value>53782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150649</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150649</Sole>
      <Shared>150649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pursuit Attractions and Hospitality Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92552R406</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>4558</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4558</Sole>
      <Shared>4558</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pvh Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>693656100</cusip>
    <value>3507300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47230</Sole>
      <Shared>47230</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pvh Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693656100</cusip>
    <value>861416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qcr Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74727A104</cusip>
    <value>1303030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13385</Sole>
      <Shared>13385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qiagen Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N72482156</cusip>
    <value>1649551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42188</Sole>
      <Shared>42188</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qnity Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74743L100</cusip>
    <value>16209007</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99253</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99253</Sole>
      <Shared>99253</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qnity Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74743L100</cusip>
    <value>2988573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18300</Sole>
      <Shared>18300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qnity Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74743L100</cusip>
    <value>718564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qorvo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74736K101</cusip>
    <value>7209771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77300</Sole>
      <Shared>77300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>747525103</cusip>
    <value>46703640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>252739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>252739</Sole>
      <Shared>252739</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>747525103</cusip>
    <value>114237178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>618200</Sole>
      <Shared>618200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>747525103</cusip>
    <value>83155500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>450000</Sole>
      <Shared>450000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualys Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74758T303</cusip>
    <value>3454436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25125</Sole>
      <Shared>25125</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74758T303</cusip>
    <value>12044124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87600</Sole>
      <Shared>87600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanta Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74762E102</cusip>
    <value>19999111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27775</Sole>
      <Shared>27775</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanta Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74762E102</cusip>
    <value>1944108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanta Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74762E102</cusip>
    <value>1584088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanterix Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74766Q101</cusip>
    <value>1729737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400402</Sole>
      <Shared>400402</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantinuum Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74768A104</cusip>
    <value>14442886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176693</Sole>
      <Shared>176693</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>747906600</cusip>
    <value>114400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantum Leap Acquisition Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G73167101</cusip>
    <value>6951000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700000</Sole>
      <Shared>700000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantum Leap Acquisition Corp - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>G73167127</cusip>
    <value>91000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700000</Sole>
      <Shared>700000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantumscape Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74767V109</cusip>
    <value>2450196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>324100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>324100</Sole>
      <Shared>324100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quest Diagnostics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74834L100</cusip>
    <value>4429755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>20900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quest Diagnostics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74834L100</cusip>
    <value>4260195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QuidelOrtho Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>219798105</cusip>
    <value>3414602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194953</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194953</Sole>
      <Shared>194953</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quince Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22053A305</cusip>
    <value>2106402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115800</Sole>
      <Shared>115800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quince Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22053A305</cusip>
    <value>2142782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117800</Sole>
      <Shared>117800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QXO Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82846H405</cusip>
    <value>2263680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131000</Sole>
      <Shared>131000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QXO Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82846H405</cusip>
    <value>1532736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88700</Sole>
      <Shared>88700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ralph Lauren Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>751212101</cusip>
    <value>280987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ramaco Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75134P600</cusip>
    <value>138915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rambus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>750917106</cusip>
    <value>20860755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>157155</Sole>
      <Shared>157155</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rambus Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>750917106</cusip>
    <value>451316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Range Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75281A109</cusip>
    <value>702891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18900</Sole>
      <Shared>18900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ranpak Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75321W103</cusip>
    <value>3249098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>444473</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>444473</Sole>
      <Shared>444473</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rapid7 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>753422104</cusip>
    <value>90720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>11200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RB Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74935Q107</cusip>
    <value>2597883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22309</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22309</Sole>
      <Shared>22309</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rbc Bearings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75524B104</cusip>
    <value>38414315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59644</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59644</Sole>
      <Shared>59644</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rci Hospitality Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74934Q108</cusip>
    <value>1634556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59830</Sole>
      <Shared>59830</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Re/Max Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75524W108</cusip>
    <value>719770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72999</Sole>
      <Shared>72999</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ready Capital Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75574U101</cusip>
    <value>2262661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1292949</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1292949</Sole>
      <Shared>1292949</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Realreal Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88339P101</cusip>
    <value>8438492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>715733</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>715733</Sole>
      <Shared>715733</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Realty Income Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>756109104</cusip>
    <value>2273932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36700</Sole>
      <Shared>36700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Realty Income Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>756109104</cusip>
    <value>2180992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35200</Sole>
      <Shared>35200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Recursion Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75629V104</cusip>
    <value>1591312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>433600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>433600</Sole>
      <Shared>433600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Red Violet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75704L104</cusip>
    <value>958795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15047</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15047</Sole>
      <Shared>15047</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Reddit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75734B100</cusip>
    <value>16871976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97200</Sole>
      <Shared>97200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Reddit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75734B100</cusip>
    <value>6231522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35900</Sole>
      <Shared>35900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Redwire Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75776W103</cusip>
    <value>5332366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>436007</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>436007</Sole>
      <Shared>436007</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Redwire Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75776W103</cusip>
    <value>201795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16500</Sole>
      <Shared>16500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regal Rexnord Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>758750103</cusip>
    <value>476380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regency Centers Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>758849103</cusip>
    <value>12871232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161415</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161415</Sole>
      <Shared>161415</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regeneron Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75886F107</cusip>
    <value>7981312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regenxbio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75901B107</cusip>
    <value>285771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23854</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23854</Sole>
      <Shared>23854</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regions Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>7591EP100</cusip>
    <value>13754650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>455452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>455452</Sole>
      <Shared>455452</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Reliance Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>759509102</cusip>
    <value>2649945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7093</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7093</Sole>
      <Shared>7093</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Renaissancere Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7496G103</cusip>
    <value>886686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2798</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2798</Sole>
      <Shared>2798</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Repligen Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>759916109</cusip>
    <value>3503506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25678</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25678</Sole>
      <Shared>25678</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Replimune Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76029N106</cusip>
    <value>219186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19800</Sole>
      <Shared>19800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>760759100</cusip>
    <value>25455602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119465</Sole>
      <Shared>119465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>760759100</cusip>
    <value>894936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>760759100</cusip>
    <value>234388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resideo Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76118Y104</cusip>
    <value>3887500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125000</Sole>
      <Shared>125000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resideo Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76118Y104</cusip>
    <value>1200460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38600</Sole>
      <Shared>38600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>761152107</cusip>
    <value>857472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resolute Holdings Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76134H101</cusip>
    <value>4264502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29506</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29506</Sole>
      <Shared>29506</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Restaurant Brands International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76131D103</cusip>
    <value>964383</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Revolution Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76155X100</cusip>
    <value>2996480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Revolution Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76155X100</cusip>
    <value>2565736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>13700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Revolution Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76155X100</cusip>
    <value>2771744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>14800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Revolve Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76156B107</cusip>
    <value>223475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9763</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9763</Sole>
      <Shared>9763</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rexford Industrial Realty Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76169C100</cusip>
    <value>9809604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>292824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>292824</Sole>
      <Shared>292824</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rh - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74967X103</cusip>
    <value>25043902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152030</Sole>
      <Shared>152030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74967X103</cusip>
    <value>10954545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66500</Sole>
      <Shared>66500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74967X103</cusip>
    <value>1581408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rhythm Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76243J105</cusip>
    <value>1541763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13886</Sole>
      <Shared>13886</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Richtech Robotics Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>765504105</cusip>
    <value>1713343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>812011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>812011</Sole>
      <Shared>812011</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ridgepost Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69376K106</cusip>
    <value>192878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24508</Sole>
      <Shared>24508</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rigetti Computing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76655K103</cusip>
    <value>1887564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97700</Sole>
      <Shared>97700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rigetti Computing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76655K103</cusip>
    <value>3514308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181900</Sole>
      <Shared>181900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rio Tinto Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>767204100</cusip>
    <value>23682567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>249474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>249474</Sole>
      <Shared>249474</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rio Tinto Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767204100</cusip>
    <value>16299481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171700</Sole>
      <Shared>171700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rio Tinto Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767204100</cusip>
    <value>5809716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61200</Sole>
      <Shared>61200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Riot Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767292105</cusip>
    <value>599622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21900</Sole>
      <Shared>21900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Riot Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767292105</cusip>
    <value>4832570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176500</Sole>
      <Shared>176500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rivian Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76954A103</cusip>
    <value>8058659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>464476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>464476</Sole>
      <Shared>464476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rivian Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76954A103</cusip>
    <value>7174225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>413500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>413500</Sole>
      <Shared>413500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rivian Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76954A103</cusip>
    <value>3993970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>230200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>230200</Sole>
      <Shared>230200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rmr Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74967R106</cusip>
    <value>1324411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64511</Sole>
      <Shared>64511</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robert Half Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>770323103</cusip>
    <value>3351887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109182</Sole>
      <Shared>109182</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robinhood Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>770700102</cusip>
    <value>77616720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>774000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>774000</Sole>
      <Shared>774000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robinhood Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>770700102</cusip>
    <value>61993096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>618200</Sole>
      <Shared>618200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roblox Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>771049103</cusip>
    <value>13138697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>241609</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>241609</Sole>
      <Shared>241609</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roblox Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>771049103</cusip>
    <value>5508694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101300</Sole>
      <Shared>101300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roblox Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>771049103</cusip>
    <value>10816182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>198900</Sole>
      <Shared>198900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77311W101</cusip>
    <value>4725000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77311W101</cusip>
    <value>3255525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206700</Sole>
      <Shared>206700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77311W101</cusip>
    <value>437850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>27800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>75737FAE8</cusip>
    <value>22674905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23540000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23540000</Sole>
      <Shared>23540000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Lab Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773121108</cusip>
    <value>8680910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85400</Sole>
      <Shared>85400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Lab Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773121108</cusip>
    <value>14647765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144100</Sole>
      <Shared>144100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77313F106</cusip>
    <value>172686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50493</Sole>
      <Shared>50493</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rockwell Automation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773903109</cusip>
    <value>792128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rogers Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>775133101</cusip>
    <value>4072129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24871</Sole>
      <Shared>24871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roivant Sciences Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G76279101</cusip>
    <value>2717952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76800</Sole>
      <Shared>76800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roivant Sciences Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G76279101</cusip>
    <value>647637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18300</Sole>
      <Shared>18300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roku Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77543R102</cusip>
    <value>106985976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>774475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>774475</Sole>
      <Shared>774475</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roku Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77543R102</cusip>
    <value>4627690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33500</Sole>
      <Shared>33500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rollins Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>775711104</cusip>
    <value>24407382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>584748</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>584748</Sole>
      <Shared>584748</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Root Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77664L207</cusip>
    <value>4462696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79805</Sole>
      <Shared>79805</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Root Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77664L207</cusip>
    <value>212496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roper Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>776696106</cusip>
    <value>236873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ross Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>778296103</cusip>
    <value>44693604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209977</Sole>
      <Shared>209977</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ross Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>778296103</cusip>
    <value>1787940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>8400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ross Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>778296103</cusip>
    <value>37525455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176300</Sole>
      <Shared>176300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roundhill Memory ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>77926X320</cusip>
    <value>21844830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>295800</Sole>
      <Shared>295800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roundhill Memory ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>77926X320</cusip>
    <value>9622655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130300</Sole>
      <Shared>130300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roundhill Memory ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>77926X320</cusip>
    <value>10991539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148836</Sole>
      <Shared>148836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Bank Of Canada - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780087102</cusip>
    <value>8133921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39300</Sole>
      <Shared>39300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Bank Of Canada - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780087102</cusip>
    <value>8030436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38800</Sole>
      <Shared>38800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Caribbean Cruises Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>V7780T103</cusip>
    <value>41405912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130400</Sole>
      <Shared>130400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Caribbean Cruises Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>V7780T103</cusip>
    <value>1682909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>780287108</cusip>
    <value>20291355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101655</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101655</Sole>
      <Shared>101655</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780287108</cusip>
    <value>5030172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25200</Sole>
      <Shared>25200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royalty Pharma Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7709Q104</cusip>
    <value>34243968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>610736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>610736</Sole>
      <Shared>610736</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTX Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75513E101</cusip>
    <value>36469521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192218</Sole>
      <Shared>192218</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTX Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75513E101</cusip>
    <value>10454123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55100</Sole>
      <Shared>55100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTX Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75513E101</cusip>
    <value>3585897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18900</Sole>
      <Shared>18900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rubrik Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>781154109</cusip>
    <value>3106836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38700</Sole>
      <Shared>38700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rubrik Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>781154109</cusip>
    <value>5563404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69300</Sole>
      <Shared>69300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rubrik Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>781154AD1</cusip>
    <value>27507600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27000000</Sole>
      <Shared>27000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rush Enterprises Inc - CL A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>781846209</cusip>
    <value>800718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10971</Sole>
      <Shared>10971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rxsight Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78349D107</cusip>
    <value>634968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131736</Sole>
      <Shared>131736</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ryder System Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>783549108</cusip>
    <value>5127425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19439</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19439</Sole>
      <Shared>19439</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ryman Hospitality Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78377T107</cusip>
    <value>952941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7413</Sole>
      <Shared>7413</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78409V104</cusip>
    <value>1466136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78409V104</cusip>
    <value>1751218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sable Offshore Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78574H104</cusip>
    <value>590744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>191800</Sole>
      <Shared>191800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sable Offshore Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78574H104</cusip>
    <value>239008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77600</Sole>
      <Shared>77600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sabra Health Care Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78573L106</cusip>
    <value>12321404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>631543</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>631543</Sole>
      <Shared>631543</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Safe Pro Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78642D101</cusip>
    <value>560557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129459</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129459</Sole>
      <Shared>129459</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Safehold Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78646V107</cusip>
    <value>2757752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>175653</Sole>
      <Shared>175653</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Saia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78709Y105</cusip>
    <value>8798032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20890</Sole>
      <Shared>20890</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SailPoint Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78781J109</cusip>
    <value>431880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Salesforce Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79466L302</cusip>
    <value>219073344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1398400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1398400</Sole>
      <Shared>1398400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Salesforce Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79466L302</cusip>
    <value>83844432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>535200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>535200</Sole>
      <Shared>535200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Samsara Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79589L106</cusip>
    <value>359973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Samsara Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79589L106</cusip>
    <value>269169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8300</Sole>
      <Shared>8300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sana Biotechnology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>799566104</cusip>
    <value>306743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87892</Sole>
      <Shared>87892</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp/DE - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80004C200</cusip>
    <value>183706015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80795</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80795</Sole>
      <Shared>80795</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>80004C200</cusip>
    <value>56843250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>80004C200</cusip>
    <value>176668821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77700</Sole>
      <Shared>77700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandridge Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80007P869</cusip>
    <value>370544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27047</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27047</Sole>
      <Shared>27047</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sanmina Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>801056102</cusip>
    <value>10561028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41730</Sole>
      <Shared>41730</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sanmina Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>801056102</cusip>
    <value>278388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sap Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>803054204</cusip>
    <value>3066789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>19900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sap Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>803054204</cusip>
    <value>7998309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51900</Sole>
      <Shared>51900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Satellogic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80401C100</cusip>
    <value>2345715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>410090</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>410090</Sole>
      <Shared>410090</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sba Communications Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78410G104</cusip>
    <value>18337900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103921</Sole>
      <Shared>103921</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sba Communications Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78410G104</cusip>
    <value>1041114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scage Future-ADR - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>G7840J118</cusip>
    <value>4612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112499</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112499</Sole>
      <Shared>112499</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schmid Group NV - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N68722102</cusip>
    <value>1083024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173007</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173007</Sole>
      <Shared>173007</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scholar Rock Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80706P103</cusip>
    <value>1442430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26226</Sole>
      <Shared>26226</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schrodinger Inc/United States - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80810D103</cusip>
    <value>6647648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>409086</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>409086</Sole>
      <Shared>409086</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Emerging Markets Equity Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524706</cusip>
    <value>450059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12412</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12412</Sole>
      <Shared>12412</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Fundamental U.S. Large Company ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524771</cusip>
    <value>24210324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>778467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>778467</Sole>
      <Shared>778467</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Fundamental U.S. Small Company Index ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524763</cusip>
    <value>512021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13453</Sole>
      <Shared>13453</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab U.S. Large-Cap Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524300</cusip>
    <value>1694301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50068</Sole>
      <Shared>50068</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab U.S. Large-Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524409</cusip>
    <value>23223317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>667145</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>667145</Sole>
      <Shared>667145</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Us Broad Market Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524102</cusip>
    <value>396144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13679</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13679</Sole>
      <Shared>13679</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Us Dividend Equity Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524797</cusip>
    <value>678213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21388</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21388</Sole>
      <Shared>21388</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scorpio Tankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y7542C130</cusip>
    <value>25006323</value>
    <shrsOrPrnAmt>
      <sshPrnamt>361050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>361050</Sole>
      <Shared>361050</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scorpio Tankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y7542C130</cusip>
    <value>290892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scorpio Tankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y7542C130</cusip>
    <value>651044</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>81141R100</cusip>
    <value>6708100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70000</Sole>
      <Shared>70000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81141R100</cusip>
    <value>8672615</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90500</Sole>
      <Shared>90500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81141R100</cusip>
    <value>13090378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136600</Sole>
      <Shared>136600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seabridge Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>811927102</cusip>
    <value>725868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28200</Sole>
      <Shared>28200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seabridge Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>811927102</cusip>
    <value>1750320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68000</Sole>
      <Shared>68000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seagate Technology Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G7997R103</cusip>
    <value>52978500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54900</Sole>
      <Shared>54900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seagate Technology Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G7997R103</cusip>
    <value>26441000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27400</Sole>
      <Shared>27400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEALSQ Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G79483106</cusip>
    <value>1527463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>484909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>484909</Sole>
      <Shared>484909</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEALSQ Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G79483106</cusip>
    <value>1025955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>325700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>325700</Sole>
      <Shared>325700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sei Investments Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>784117103</cusip>
    <value>726940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8288</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8288</Sole>
      <Shared>8288</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Select Medical Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81619Q105</cusip>
    <value>3327888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201568</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>201568</Sole>
      <Shared>201568</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Selectquote Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>816307300</cusip>
    <value>945884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1124580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1124580</Sole>
      <Shared>1124580</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sellas Life Sciences Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81642T209</cusip>
    <value>2069352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140200</Sole>
      <Shared>140200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sellas Life Sciences Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81642T209</cusip>
    <value>3087792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209200</Sole>
      <Shared>209200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sempra - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>816851109</cusip>
    <value>315214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Semtech Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>816850101</cusip>
    <value>19203341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118649</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118649</Sole>
      <Shared>118649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Semtech Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>816850101</cusip>
    <value>841620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>5200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Semtech Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>816850101</cusip>
    <value>4806945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29700</Sole>
      <Shared>29700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sensata Technologies Holding Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8060N102</cusip>
    <value>18255060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>382385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>382385</Sole>
      <Shared>382385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sentinelone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81730H109</cusip>
    <value>19722856</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1162219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1162219</Sole>
      <Shared>1162219</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sentinelone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81730H109</cusip>
    <value>1340630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79000</Sole>
      <Shared>79000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sentinelone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81730H109</cusip>
    <value>1535785</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90500</Sole>
      <Shared>90500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Septerna Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81734D104</cusip>
    <value>970071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28966</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28966</Sole>
      <Shared>28966</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Septerna Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81734D104</cusip>
    <value>6698000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Septerna Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81734D104</cusip>
    <value>3349000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seritage Growth Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81752R100</cusip>
    <value>165724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63013</Sole>
      <Shared>63013</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Serve Robotics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81758H106</cusip>
    <value>1792708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>272448</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>272448</Sole>
      <Shared>272448</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Serve Robotics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81758H106</cusip>
    <value>834344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126800</Sole>
      <Shared>126800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servicenow Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81762P102</cusip>
    <value>65726636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>662033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>662033</Sole>
      <Shared>662033</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servicenow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81762P102</cusip>
    <value>12479496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125700</Sole>
      <Shared>125700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servicenow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81762P102</cusip>
    <value>128239976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1291700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1291700</Sole>
      <Shared>1291700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ServiceTitan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81764X103</cusip>
    <value>1145502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16200</Sole>
      <Shared>16200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servisfirst Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81768T108</cusip>
    <value>3082835</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35537</Sole>
      <Shared>35537</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sezzle Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78435P105</cusip>
    <value>2077238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12103</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12103</Sole>
      <Shared>12103</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sezzle Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78435P105</cusip>
    <value>3089340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>18000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sezzle Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78435P105</cusip>
    <value>2162538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>12600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shake Shack Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>819047101</cusip>
    <value>6361183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113552</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>113552</Sole>
      <Shared>113552</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shake Shack Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>819047101</cusip>
    <value>1406102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25100</Sole>
      <Shared>25100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shake Shack Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>819047101</cusip>
    <value>1971904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35200</Sole>
      <Shared>35200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharkNinja Inc</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8068L108</cusip>
    <value>487264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharkNinja Inc</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8068L108</cusip>
    <value>426356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharonAI Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>778920306</cusip>
    <value>1168308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharonAI Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>778920306</cusip>
    <value>220116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharpLink Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>820014405</cusip>
    <value>211200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44000</Sole>
      <Shared>44000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shell PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780259305</cusip>
    <value>8544908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110200</Sole>
      <Shared>110200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shell PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780259305</cusip>
    <value>3062830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39500</Sole>
      <Shared>39500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sherwin-Williams Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>824348106</cusip>
    <value>44131839</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128171</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128171</Sole>
      <Shared>128171</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sherwin-Williams Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>824348106</cusip>
    <value>3477632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sherwin-Williams Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>824348106</cusip>
    <value>344320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shift4 Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82452J109</cusip>
    <value>2222021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45683</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45683</Sole>
      <Shared>45683</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shift4 Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82452J109</cusip>
    <value>2110976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43400</Sole>
      <Shared>43400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shift4 Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82452J109</cusip>
    <value>977664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shopify Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82509L107</cusip>
    <value>27958115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244860</Sole>
      <Shared>244860</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shopify Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82509L107</cusip>
    <value>9020220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79000</Sole>
      <Shared>79000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shopify Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82509L107</cusip>
    <value>48686352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>426400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>426400</Sole>
      <Shared>426400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sibanye Stillwater Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>82575P107</cusip>
    <value>98433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11594</Sole>
      <Shared>11594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sibanye Stillwater Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82575P107</cusip>
    <value>892299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105100</Sole>
      <Shared>105100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sibanye Stillwater Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82575P107</cusip>
    <value>626562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73800</Sole>
      <Shared>73800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Si-Bone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>825704109</cusip>
    <value>2144676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131414</Sole>
      <Shared>131414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Siga Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>826917106</cusip>
    <value>135543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37237</Sole>
      <Shared>37237</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sigma Lithium Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>826599102</cusip>
    <value>131560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sigma Lithium Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>826599102</cusip>
    <value>137885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sila Realty Trust Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>146280508</cusip>
    <value>1081727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35630</Sole>
      <Shared>35630</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>826919102</cusip>
    <value>20570212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94117</Sole>
      <Shared>94117</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>826919102</cusip>
    <value>19692256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90100</Sole>
      <Shared>90100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>826919102</cusip>
    <value>1748480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Motion Technology Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82706C108</cusip>
    <value>15233181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45700</Sole>
      <Shared>45700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Motion Technology Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82706C108</cusip>
    <value>766659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silvercorp Metals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82835P103</cusip>
    <value>2503103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>247832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>247832</Sole>
      <Shared>247832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simon Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>828806109</cusip>
    <value>1431360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simon Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>828806109</cusip>
    <value>402570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simply Good Foods Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82900L102</cusip>
    <value>1823809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137335</Sole>
      <Shared>137335</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simpson Manufacturing Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>829073105</cusip>
    <value>4293978</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20511</Sole>
      <Shared>20511</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simulations Plus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>829214105</cusip>
    <value>2850904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155702</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155702</Sole>
      <Shared>155702</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sinclair Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>829242106</cusip>
    <value>2393587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167971</Sole>
      <Shared>167971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sionna Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>829401108</cusip>
    <value>993074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22575</Sole>
      <Shared>22575</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sirius Xm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>829933100</cusip>
    <value>251031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8498</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8498</Sole>
      <Shared>8498</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sirius Xm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>829933100</cusip>
    <value>652834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22100</Sole>
      <Shared>22100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sirius Xm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>829933100</cusip>
    <value>617386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>20900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Site Centers Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82981J851</cusip>
    <value>1738789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>437982</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>437982</Sole>
      <Shared>437982</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Siteone Landscape Supply Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82982L103</cusip>
    <value>6574914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57468</Sole>
      <Shared>57468</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Siteone Landscape Supply Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82982L103</cusip>
    <value>240261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sitime Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82982T106</cusip>
    <value>13701902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18378</Sole>
      <Shared>18378</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sitime Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82982T106</cusip>
    <value>223668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Six Flags Entertainment Corporation - US MLP</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83001C108</cusip>
    <value>566452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26594</Sole>
      <Shared>26594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sk Telecom Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>78440P306</cusip>
    <value>413256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12850</Sole>
      <Shared>12850</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sk Telecom Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78440P306</cusip>
    <value>1206000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37500</Sole>
      <Shared>37500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SkinHealth Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88331L108</cusip>
    <value>208634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>301277</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>301277</Sole>
      <Shared>301277</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skywater Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83089J108</cusip>
    <value>2611500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75000</Sole>
      <Shared>75000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skyworks Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83088M102</cusip>
    <value>1315320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>19400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skyworks Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83088M102</cusip>
    <value>996660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SKYX Platforms Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78471E105</cusip>
    <value>127721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115585</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115585</Sole>
      <Shared>115585</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sl Green Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78440X887</cusip>
    <value>3357181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64848</Sole>
      <Shared>64848</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sl Green Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78440X887</cusip>
    <value>859382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>16600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SLB Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>806857108</cusip>
    <value>17366618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>373556</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>373556</Sole>
      <Shared>373556</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SLB Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>806857108</cusip>
    <value>2715016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58400</Sole>
      <Shared>58400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SLB Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>806857108</cusip>
    <value>14769873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>317700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>317700</Sole>
      <Shared>317700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Slm Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78442P106</cusip>
    <value>5232202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>201704</Sole>
      <Shared>201704</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sm Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78454L100</cusip>
    <value>28331628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1085503</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1085503</Sole>
      <Shared>1085503</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sm Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78454L100</cusip>
    <value>882180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33800</Sole>
      <Shared>33800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sm Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78454L100</cusip>
    <value>1007460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38600</Sole>
      <Shared>38600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Smith &amp; Wesson Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>831754106</cusip>
    <value>1890122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125673</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125673</Sole>
      <Shared>125673</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Smith Douglas Homes Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83207R107</cusip>
    <value>331049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21303</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21303</Sole>
      <Shared>21303</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snap Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83304A106</cusip>
    <value>3519144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>792600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>792600</Sole>
      <Shared>792600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snap Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83304A106</cusip>
    <value>825396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185900</Sole>
      <Shared>185900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snap-On Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>833034101</cusip>
    <value>7867322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19551</Sole>
      <Shared>19551</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snowflake Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>833445109</cusip>
    <value>106788200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>419600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>419600</Sole>
      <Shared>419600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snowflake Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>833445109</cusip>
    <value>45148300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177400</Sole>
      <Shared>177400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sofi Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83406F102</cusip>
    <value>2608528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145484</Sole>
      <Shared>145484</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sofi Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83406F102</cusip>
    <value>3446146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192200</Sole>
      <Shared>192200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sofi Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83406F102</cusip>
    <value>20537022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1145400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1145400</Sole>
      <Shared>1145400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaredge Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83417M104</cusip>
    <value>19899580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>340513</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>340513</Sole>
      <Shared>340513</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaredge Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83417M104</cusip>
    <value>3687564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63100</Sole>
      <Shared>63100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaredge Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83417M104</cusip>
    <value>1507752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>25800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaris Energy Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83418M103</cusip>
    <value>225288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solidion Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>834212201</cusip>
    <value>111211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11971</Sole>
      <Shared>11971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solstice Advanced Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83443Q103</cusip>
    <value>203780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solv Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78475V103</cusip>
    <value>3875707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>113824</Sole>
      <Shared>113824</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solventum Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83444M101</cusip>
    <value>9107558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118050</Sole>
      <Shared>118050</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solventum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83444M101</cusip>
    <value>223735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Somnigroup International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88023U101</cusip>
    <value>10390195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132528</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132528</Sole>
      <Shared>132528</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Somnigroup International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88023U101</cusip>
    <value>250880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sony Group Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>835699307</cusip>
    <value>1731178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86300</Sole>
      <Shared>86300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sony Group Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>835699307</cusip>
    <value>599794</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>29900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sotera Health Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83601L102</cusip>
    <value>17485880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>985120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>985120</Sole>
      <Shared>985120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SoundHound AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>836100107</cusip>
    <value>728522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112600</Sole>
      <Shared>112600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>842587107</cusip>
    <value>1253801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13100</Sole>
      <Shared>13100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>842587107</cusip>
    <value>736967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84265V105</cusip>
    <value>2484599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14258</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14258</Sole>
      <Shared>14258</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>84265V105</cusip>
    <value>3415496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19600</Sole>
      <Shared>19600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>84265V105</cusip>
    <value>5192948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>29800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southland Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>84445C118</cusip>
    <value>1913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75000</Sole>
      <Shared>75000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SouthState Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84472E102</cusip>
    <value>9895894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99058</Sole>
      <Shared>99058</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Airlines Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>844741108</cusip>
    <value>6377828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124034</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124034</Sole>
      <Shared>124034</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Airlines Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>844741108</cusip>
    <value>6612612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128600</Sole>
      <Shared>128600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Airlines Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>844741108</cusip>
    <value>3481134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67700</Sole>
      <Shared>67700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Space Exploration Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84615Q103</cusip>
    <value>199367137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1166845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1166845</Sole>
      <Shared>1166845</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Space Exploration Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>84615Q103</cusip>
    <value>19700158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115300</Sole>
      <Shared>115300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Space Exploration Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>84615Q103</cusip>
    <value>46559350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>272500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>272500</Sole>
      <Shared>272500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spartacus Acquisition Corp II - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8303R126</cusip>
    <value>3817500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>375000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>375000</Sole>
      <Shared>375000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR Gold MiniShares Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>98149E303</cusip>
    <value>5668523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71374</Sole>
      <Shared>71374</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spdr Gold Shares - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78463V107</cusip>
    <value>1078579802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2927900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2927900</Sole>
      <Shared>2927900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spdr Gold Shares - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78463V107</cusip>
    <value>570731134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1549300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1549300</Sole>
      <Shared>1549300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spdr Gold Shares - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78463V107</cusip>
    <value>96910832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>263073</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>263073</Sole>
      <Shared>263073</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spectrum Brands Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84790A105</cusip>
    <value>2933508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34210</Sole>
      <Shared>34210</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sphere Entertainment Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55826T102</cusip>
    <value>2318602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spire Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>848560306</cusip>
    <value>622058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33444</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33444</Sole>
      <Shared>33444</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spire Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84857L101</cusip>
    <value>1642936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21039</Sole>
      <Shared>21039</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sportradar Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H8088L103</cusip>
    <value>13282282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>887260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>887260</Sole>
      <Shared>887260</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spotify Technology Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>L8681T102</cusip>
    <value>86454179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>188300</Sole>
      <Shared>188300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spotify Technology Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>L8681T102</cusip>
    <value>3443475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprinklr Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85208T107</cusip>
    <value>2657400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>515000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>515000</Sole>
      <Shared>515000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprott Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852066208</cusip>
    <value>303345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprott Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852066208</cusip>
    <value>235935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprouts Farmers Market Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85208M102</cusip>
    <value>3078712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36400</Sole>
      <Shared>36400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprouts Farmers Market Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85208M102</cusip>
    <value>372152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spyre Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00773J202</cusip>
    <value>234823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2645</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2645</Sole>
      <Shared>2645</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ss&amp;C Technologies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78467J100</cusip>
    <value>23034635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>371227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>371227</Sole>
      <Shared>371227</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ssr Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>784730103</cusip>
    <value>423436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14973</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14973</Sole>
      <Shared>14973</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ssr Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>784730103</cusip>
    <value>1312192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46400</Sole>
      <Shared>46400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stag Industrial Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85254J102</cusip>
    <value>3789863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99576</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99576</Sole>
      <Shared>99576</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Standard Lithium Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>853606101</cusip>
    <value>5536809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2013385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2013385</Sole>
      <Shared>2013385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stanley Black &amp; Decker Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>854502101</cusip>
    <value>2004474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21297</Sole>
      <Shared>21297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stanley Black &amp; Decker Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>854502101</cusip>
    <value>2418884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25700</Sole>
      <Shared>25700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stanley Black &amp; Decker Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>854502101</cusip>
    <value>1214148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Star Bulk Carriers Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y8162K204</cusip>
    <value>7628085</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>305490</Sole>
      <Shared>305490</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starbucks Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>855244109</cusip>
    <value>9605860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94000</Sole>
      <Shared>94000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starbucks Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>855244109</cusip>
    <value>1113871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starwood Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85571B105</cusip>
    <value>3518637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214813</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>214813</Sole>
      <Shared>214813</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starwood Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85571B105</cusip>
    <value>163800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starwood Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85571B105</cusip>
    <value>183456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>11200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Communication Services Select Sector</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y852</cusip>
    <value>1071300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Communication Services Select Sector</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y852</cusip>
    <value>1006379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9394</Sole>
      <Shared>9394</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Discretionary Select Sector</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y407</cusip>
    <value>9147840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78000</Sole>
      <Shared>78000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Discretionary Select Sector</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y407</cusip>
    <value>17920384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152800</Sole>
      <Shared>152800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Discretionary Select Sector</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y407</cusip>
    <value>21957513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187223</Sole>
      <Shared>187223</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Staples Select Sector SPDR E</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y308</cusip>
    <value>11214450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135000</Sole>
      <Shared>135000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Staples Select Sector SPDR E</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y308</cusip>
    <value>27572594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>331920</Sole>
      <Shared>331920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>857477103</cusip>
    <value>3035840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>17900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>857477103</cusip>
    <value>508800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Energy Select Sector SPDR ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y506</cusip>
    <value>223948937</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4216700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4216700</Sole>
      <Shared>4216700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Energy Select Sector SPDR ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y506</cusip>
    <value>473454406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8914600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8914600</Sole>
      <Shared>8914600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Energy Select Sector SPDR ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y506</cusip>
    <value>8434027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158803</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158803</Sole>
      <Shared>158803</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Financial Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y605</cusip>
    <value>213453576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3981600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3981600</Sole>
      <Shared>3981600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Financial Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y605</cusip>
    <value>468095715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8731500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8731500</Sole>
      <Shared>8731500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Financial Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y605</cusip>
    <value>5124419</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95587</Sole>
      <Shared>95587</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Health Care Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y209</cusip>
    <value>71809516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>452600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>452600</Sole>
      <Shared>452600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Health Care Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y209</cusip>
    <value>16373712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103200</Sole>
      <Shared>103200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Health Care Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y209</cusip>
    <value>156031956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>983436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>983436</Sole>
      <Shared>983436</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Industrial Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y704</cusip>
    <value>66682800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>360000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>360000</Sole>
      <Shared>360000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Industrial Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y704</cusip>
    <value>15355567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82900</Sole>
      <Shared>82900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Industrial Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y704</cusip>
    <value>1289756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6963</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6963</Sole>
      <Shared>6963</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Materials Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y100</cusip>
    <value>1555398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30600</Sole>
      <Shared>30600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Materials Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y100</cusip>
    <value>960687</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18900</Sole>
      <Shared>18900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Materials Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y100</cusip>
    <value>7841188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154263</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154263</Sole>
      <Shared>154263</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Real Estate Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y860</cusip>
    <value>8575855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194773</Sole>
      <Shared>194773</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Dow Jones Industrial Average ETF</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78467X109</cusip>
    <value>39492684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75600</Sole>
      <Shared>75600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Dow Jones Industrial Average ETF</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78467X109</cusip>
    <value>21208512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40599</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40599</Sole>
      <Shared>40599</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR EURO STOXX 50 ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78463X202</cusip>
    <value>2747200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR EURO STOXX 50 ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78463X202</cusip>
    <value>980476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14276</Sole>
      <Shared>14276</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio Long Term Treasury ETF</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A664</cusip>
    <value>734230</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27992</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27992</Sole>
      <Shared>27992</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 1500 Composite Sto</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A805</cusip>
    <value>458580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5051</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5051</Sole>
      <Shared>5051</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 400 Mid Cap ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A847</cusip>
    <value>436640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6463</Sole>
      <Shared>6463</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 500 High Dividend</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78468R788</cusip>
    <value>2768277</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58023</Sole>
      <Shared>58023</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 500 Value ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A508</cusip>
    <value>2760899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45417</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45417</Sole>
      <Shared>45417</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P 500 ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78462F103</cusip>
    <value>112015500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P 500 ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78462F103</cusip>
    <value>312837635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>418921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>418921</Sole>
      <Shared>418921</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Bank ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A797</cusip>
    <value>6822000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Biotech ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A870</cusip>
    <value>14922975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94300</Sole>
      <Shared>94300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Biotech ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A870</cusip>
    <value>62429625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>394500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>394500</Sole>
      <Shared>394500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Biotech ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A870</cusip>
    <value>79441500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>502000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>502000</Sole>
      <Shared>502000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Dividend ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A763</cusip>
    <value>1967535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12929</Sole>
      <Shared>12929</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Homebuilders ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A888</cusip>
    <value>1964520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>17000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Homebuilders ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A888</cusip>
    <value>3156175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27312</Sole>
      <Shared>27312</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Insurance ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A789</cusip>
    <value>914850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Metals &amp; Mining ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A755</cusip>
    <value>89457638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>836600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>836600</Sole>
      <Shared>836600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Metals &amp; Mining ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A755</cusip>
    <value>1603950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P MidCap 400 ETF Trust - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78467Y107</cusip>
    <value>975533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1387</Sole>
      <Shared>1387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78468R556</cusip>
    <value>4488966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29100</Sole>
      <Shared>29100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78468R556</cusip>
    <value>45830646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>297100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>297100</Sole>
      <Shared>297100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78468R556</cusip>
    <value>16276744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105515</Sole>
      <Shared>105515</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Regional Banking ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A698</cusip>
    <value>78996690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1055400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1055400</Sole>
      <Shared>1055400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Regional Banking ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A698</cusip>
    <value>382453560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5109600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5109600</Sole>
      <Shared>5109600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Technology Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y803</cusip>
    <value>16194200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85000</Sole>
      <Shared>85000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Technology Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y803</cusip>
    <value>244151380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1281500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1281500</Sole>
      <Shared>1281500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Technology Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y803</cusip>
    <value>29810474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156469</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156469</Sole>
      <Shared>156469</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Utilities Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y886</cusip>
    <value>62351568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1375200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1375200</Sole>
      <Shared>1375200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Utilities Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y886</cusip>
    <value>331734644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7316600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7316600</Sole>
      <Shared>7316600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Utilities Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y886</cusip>
    <value>29023268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>640125</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>640125</Sole>
      <Shared>640125</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steel Dynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>858119100</cusip>
    <value>1973356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steel Dynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>858119100</cusip>
    <value>4956336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21600</Sole>
      <Shared>21600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steris Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8473T100</cusip>
    <value>22902857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108766</Sole>
      <Shared>108766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sterling Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>859241101</cusip>
    <value>35993436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42882</Sole>
      <Shared>42882</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sterling Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>859241101</cusip>
    <value>251808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sterling Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>859241101</cusip>
    <value>1007232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steven Madden Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>556269108</cusip>
    <value>2741089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65109</Sole>
      <Shared>65109</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stifel Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>860630102</cusip>
    <value>32827832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>470515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>470515</Sole>
      <Shared>470515</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stmicroelectronics Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>861012102</cusip>
    <value>22736604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>303600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>303600</Sole>
      <Shared>303600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stmicroelectronics Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>861012102</cusip>
    <value>7474022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99800</Sole>
      <Shared>99800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stock Yards Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>861025104</cusip>
    <value>15152378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198148</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>198148</Sole>
      <Shared>198148</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stoneridge Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86183P102</cusip>
    <value>1036702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141626</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141626</Sole>
      <Shared>141626</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stratasys Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M85548101</cusip>
    <value>6383303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>745713</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>745713</Sole>
      <Shared>745713</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategic Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86272C103</cusip>
    <value>5480935</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71534</Sole>
      <Shared>71534</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594972408</cusip>
    <value>45290530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>521000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>521000</Sole>
      <Shared>521000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594972408</cusip>
    <value>37145189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>427300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>427300</Sole>
      <Shared>427300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stride Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86333M108</cusip>
    <value>6026710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69883</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69883</Sole>
      <Shared>69883</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strive Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>862945300</cusip>
    <value>1922342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176200</Sole>
      <Shared>176200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strive Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>862945300</cusip>
    <value>565138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51800</Sole>
      <Shared>51800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Structure Therapeutics Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>86366E106</cusip>
    <value>2879718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53656</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53656</Sole>
      <Shared>53656</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Structure Therapeutics Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86366E106</cusip>
    <value>214680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stryker Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>863667101</cusip>
    <value>9508168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30200</Sole>
      <Shared>30200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stryker Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>863667101</cusip>
    <value>661164</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sturm Ruger &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>864159108</cusip>
    <value>4735035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125100</Sole>
      <Shared>125100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Summit Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86627T108</cusip>
    <value>304513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>20900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Summit Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86627T108</cusip>
    <value>246233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>16900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sun Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>866674104</cusip>
    <value>922827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7696</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7696</Sole>
      <Shared>7696</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncoke Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86722A103</cusip>
    <value>5535655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>687659</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>687659</Sole>
      <Shared>687659</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>867224107</cusip>
    <value>1525800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28424</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28424</Sole>
      <Shared>28424</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>867224107</cusip>
    <value>531432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>867224107</cusip>
    <value>2474648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46100</Sole>
      <Shared>46100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunococorp LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86765Q106</cusip>
    <value>14736225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>217766</Sole>
      <Shared>217766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86771W105</cusip>
    <value>5722305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>427676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>427676</Sole>
      <Shared>427676</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86771W105</cusip>
    <value>3022542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225900</Sole>
      <Shared>225900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86771W105</cusip>
    <value>5281086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>394700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>394700</Sole>
      <Shared>394700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunstone Hotel Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>867892101</cusip>
    <value>1195082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104374</Sole>
      <Shared>104374</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Group Sghc Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8588X103</cusip>
    <value>7801643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>575767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>575767</Sole>
      <Shared>575767</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Group Sghc Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8588X103</cusip>
    <value>169375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>86800U500</cusip>
    <value>51185000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000000</Sole>
      <Shared>1000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86800U302</cusip>
    <value>17861970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>609000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>609000</Sole>
      <Shared>609000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86800U302</cusip>
    <value>13075314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>445800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>445800</Sole>
      <Shared>445800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>86800UAB0</cusip>
    <value>59549750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65000000</Sole>
      <Shared>65000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Supernus Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>868459108</cusip>
    <value>1150936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24746</Sole>
      <Shared>24746</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Surgery Partners Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86881A100</cusip>
    <value>2585957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153926</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>153926</Sole>
      <Shared>153926</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sweetgreen Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87043Q108</cusip>
    <value>9101285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1033063</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1033063</Sole>
      <Shared>1033063</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Symbotic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87151X101</cusip>
    <value>5452974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121312</Sole>
      <Shared>121312</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Symbotic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87151X101</cusip>
    <value>840565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Symbotic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87151X101</cusip>
    <value>436015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synaptics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87157D109</cusip>
    <value>347844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synchrony Financial - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87165B103</cusip>
    <value>27181791</value>
    <shrsOrPrnAmt>
      <sshPrnamt>357420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>357420</Sole>
      <Shared>357420</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synchrony Financial - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87165B103</cusip>
    <value>684450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synopsys Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>871607107</cusip>
    <value>72818251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163244</Sole>
      <Shared>163244</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synopsys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871607107</cusip>
    <value>312249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synopsys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871607107</cusip>
    <value>9590505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>21500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sysco Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>871829107</cusip>
    <value>35585606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>425767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>425767</Sole>
      <Shared>425767</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sysco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871829107</cusip>
    <value>660282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sysco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871829107</cusip>
    <value>994602</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T Rowe Price Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74144T108</cusip>
    <value>26448842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232640</Sole>
      <Shared>232640</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T Rowe Price Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74144T108</cusip>
    <value>1796302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>874039100</cusip>
    <value>653938511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1369304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1369304</Sole>
      <Shared>1369304</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874039100</cusip>
    <value>138686328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>290400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>290400</Sole>
      <Shared>290400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874039100</cusip>
    <value>1045018674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2188200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2188200</Sole>
      <Shared>2188200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Takeda Pharmaceutical Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>874060205</cusip>
    <value>1605388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100149</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100149</Sole>
      <Shared>100149</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Take-Two Interactive Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874054109</cusip>
    <value>5049596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20200</Sole>
      <Shared>20200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Take-Two Interactive Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874054109</cusip>
    <value>34922206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139700</Sole>
      <Shared>139700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tal Education Group - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>874080104</cusip>
    <value>116524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12176</Sole>
      <Shared>12176</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Talen Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87422Q109</cusip>
    <value>2382412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Talen Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87422Q109</cusip>
    <value>1152780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Talos Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87484T108</cusip>
    <value>3891268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>301415</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>301415</Sole>
      <Shared>301415</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tandem Diabetes Care Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>875372203</cusip>
    <value>5473264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>362708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>362708</Sole>
      <Shared>362708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tanger Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>875465106</cusip>
    <value>502927</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12742</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12742</Sole>
      <Shared>12742</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tapestry Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>876030107</cusip>
    <value>878280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Targa Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612G101</cusip>
    <value>723978</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Target Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612E106</cusip>
    <value>48351822</value>
    <shrsOrPrnAmt>
      <sshPrnamt>370200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>370200</Sole>
      <Shared>370200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Target Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612E106</cusip>
    <value>4806448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36800</Sole>
      <Shared>36800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tarsus Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87650L103</cusip>
    <value>600511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9541</Sole>
      <Shared>9541</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taylor Morrison Home Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87724P106</cusip>
    <value>7174000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tc Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87807B107</cusip>
    <value>935020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14105</Sole>
      <Shared>14105</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tc Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87807B107</cusip>
    <value>218757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tc Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87807B107</cusip>
    <value>258531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Td Synnex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87162W100</cusip>
    <value>908956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Te Connectivity Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G87052109</cusip>
    <value>59018303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>292735</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>292735</Sole>
      <Shared>292735</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Te Connectivity Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G87052109</cusip>
    <value>221771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Technipfmc Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G87110105</cusip>
    <value>5317260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80200</Sole>
      <Shared>80200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Technipfmc Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G87110105</cusip>
    <value>4123860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62200</Sole>
      <Shared>62200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TechTarget Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87874R308</cusip>
    <value>94381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26217</Sole>
      <Shared>26217</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teck Resources Ltd - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>878742204</cusip>
    <value>169212279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2845817</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2845817</Sole>
      <Shared>2845817</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teck Resources Ltd - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>878742204</cusip>
    <value>1783800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>30000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teekay Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8726T105</cusip>
    <value>2882590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>288259</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>288259</Sole>
      <Shared>288259</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teekay Tankers Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8726X106</cusip>
    <value>19070483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>293980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>293980</Sole>
      <Shared>293980</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teladoc Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87918A105</cusip>
    <value>3288603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>387807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>387807</Sole>
      <Shared>387807</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teladoc Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87918A105</cusip>
    <value>133136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teledyne Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>879360105</cusip>
    <value>2607579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3910</Sole>
      <Shared>3910</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telefonaktiebolaget Lm Ericsson - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>294821608</cusip>
    <value>181745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telephone And Data Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>879433829</cusip>
    <value>9860315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266423</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266423</Sole>
      <Shared>266423</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telus Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87971M103</cusip>
    <value>394652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37337</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37337</Sole>
      <Shared>37337</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tempus AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88023B103</cusip>
    <value>45758907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>789900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>789900</Sole>
      <Shared>789900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tempus AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88023B103</cusip>
    <value>724125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tencent Music Entertainment Group - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88034P109</cusip>
    <value>294755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35300</Sole>
      <Shared>35300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88033G407</cusip>
    <value>16631412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88900</Sole>
      <Shared>88900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88033G407</cusip>
    <value>16294668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87100</Sole>
      <Shared>87100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradata Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88076W103</cusip>
    <value>713790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20600</Sole>
      <Shared>20600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradyne Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>880770102</cusip>
    <value>13015296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26900</Sole>
      <Shared>26900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradyne Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>880770102</cusip>
    <value>4209408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terawulf Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88080T104</cusip>
    <value>29054610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1176300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1176300</Sole>
      <Shared>1176300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terawulf Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88080T104</cusip>
    <value>3672890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148700</Sole>
      <Shared>148700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terreno Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88146M101</cusip>
    <value>28054737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>433144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>433144</Sole>
      <Shared>433144</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terrestrial Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>881454102</cusip>
    <value>298953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42225</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42225</Sole>
      <Shared>42225</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesla Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88160R101</cusip>
    <value>319328773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>759222</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>759222</Sole>
      <Shared>759222</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesla Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88160R101</cusip>
    <value>119786880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>284800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>284800</Sole>
      <Shared>284800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesla Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88160R101</cusip>
    <value>420137340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>998900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>998900</Sole>
      <Shared>998900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tetra Tech Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>88162GAB9</cusip>
    <value>31686240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30120000</Sole>
      <Shared>30120000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tetra Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88162F105</cusip>
    <value>121344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10710</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10710</Sole>
      <Shared>10710</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teucrium Corn Fund - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>88166A102</cusip>
    <value>3350000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical Industries Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>881624209</cusip>
    <value>16601200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>490000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>490000</Sole>
      <Shared>490000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical Industries Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>881624209</cusip>
    <value>945252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27900</Sole>
      <Shared>27900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical Industries Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>881624209</cusip>
    <value>2720564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80300</Sole>
      <Shared>80300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Capital Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88224Q107</cusip>
    <value>946275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9164</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9164</Sole>
      <Shared>9164</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Instruments Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>882508104</cusip>
    <value>83240220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279264</Sole>
      <Shared>279264</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Instruments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>882508104</cusip>
    <value>17407288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58400</Sole>
      <Shared>58400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Instruments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>882508104</cusip>
    <value>29032018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97400</Sole>
      <Shared>97400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Pacific Land Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88262P102</cusip>
    <value>18875413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43130</Sole>
      <Shared>43130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Pacific Land Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88262P102</cusip>
    <value>1881852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Pacific Land Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88262P102</cusip>
    <value>1094100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Roadhouse Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>882681109</cusip>
    <value>8308890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43000</Sole>
      <Shared>43000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Textron Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>883203101</cusip>
    <value>4075380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44428</Sole>
      <Shared>44428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Textron Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>883203101</cusip>
    <value>5889066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64200</Sole>
      <Shared>64200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tg Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88322Q108</cusip>
    <value>5159965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93920</Sole>
      <Shared>93920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tg Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88322Q108</cusip>
    <value>351616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tg Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88322Q108</cusip>
    <value>3999632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72800</Sole>
      <Shared>72800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Campbell's Company - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>134429109</cusip>
    <value>1298341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58300</Sole>
      <Shared>58300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Campbell's Company - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>134429109</cusip>
    <value>1692520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76000</Sole>
      <Shared>76000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Theravance Biopharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8807B106</cusip>
    <value>1027225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60425</Sole>
      <Shared>60425</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>883556102</cusip>
    <value>35718892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71244</Sole>
      <Shared>71244</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>883556102</cusip>
    <value>16344336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>32600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>883556102</cusip>
    <value>7069176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14100</Sole>
      <Shared>14100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Third Coast Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88422P109</cusip>
    <value>213514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5285</Sole>
      <Shared>5285</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thomson Reuters Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>884903881</cusip>
    <value>1004541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thomson Reuters Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>884903881</cusip>
    <value>882036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thor Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>885160101</cusip>
    <value>7379359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98182</Sole>
      <Shared>98182</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thor Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>885160101</cusip>
    <value>323188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thredup Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88556E102</cusip>
    <value>6067764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>885805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>885805</Sole>
      <Shared>885805</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thryv Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>886029206</cusip>
    <value>1186830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>301226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>301226</Sole>
      <Shared>301226</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Titan International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88830M102</cusip>
    <value>4096346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>531303</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>531303</Sole>
      <Shared>531303</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Titan Machinery Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88830R101</cusip>
    <value>491103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23253</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23253</Sole>
      <Shared>23253</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tjx Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>872540109</cusip>
    <value>6507228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42952</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42952</Sole>
      <Shared>42952</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tjx Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872540109</cusip>
    <value>681750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tjx Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872540109</cusip>
    <value>1045350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TKO Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87256C101</cusip>
    <value>15278422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75895</Sole>
      <Shared>75895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TKO Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87256C101</cusip>
    <value>382489</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tmc The Metals Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87261Y106</cusip>
    <value>7494461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1691752</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1691752</Sole>
      <Shared>1691752</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T-Mobile Us Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872590104</cusip>
    <value>2952048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17600</Sole>
      <Shared>17600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T-Mobile Us Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872590104</cusip>
    <value>3103005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18500</Sole>
      <Shared>18500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toast Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>888787108</cusip>
    <value>7644936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>274800</Sole>
      <Shared>274800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toast Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>888787108</cusip>
    <value>397826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14300</Sole>
      <Shared>14300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>889478103</cusip>
    <value>2289366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13896</Sole>
      <Shared>13896</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>889478103</cusip>
    <value>1729875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>889478103</cusip>
    <value>6425250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39000</Sole>
      <Shared>39000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tootsie Roll Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>890516107</cusip>
    <value>2843447</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71895</Sole>
      <Shared>71895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Topbuild Corp - US</nameOfIssuer>
    <titleOfClass>Equity (When-Issued)</titleOfClass>
    <cusip>89055F103</cusip>
    <value>116460128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273295</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273295</Sole>
      <Shared>273295</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TORM PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G89479102</cusip>
    <value>2371851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91015</Sole>
      <Shared>91015</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TORM PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G89479102</cusip>
    <value>229328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>8800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toro Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>891092108</cusip>
    <value>484470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4973</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4973</Sole>
      <Shared>4973</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toronto-Dominion Bank/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>891160509</cusip>
    <value>13272299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109300</Sole>
      <Shared>109300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toronto-Dominion Bank/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>891160509</cusip>
    <value>11147274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91800</Sole>
      <Shared>91800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Totalenergies Se - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>F92124100</cusip>
    <value>10034228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129041</Sole>
      <Shared>129041</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Totalenergies Se - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>F92124100</cusip>
    <value>2387232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30700</Sole>
      <Shared>30700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Totalenergies Se - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>F92124100</cusip>
    <value>1220832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tower Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M87915274</cusip>
    <value>722233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2771</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2771</Sole>
      <Shared>2771</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tower Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M87915274</cusip>
    <value>4144176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tower Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M87915274</cusip>
    <value>1120752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toyota Motor Corp - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>892331307</cusip>
    <value>19681898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116862</Sole>
      <Shared>116862</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toyota Motor Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>892331307</cusip>
    <value>471576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TPG Partners LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>872657101</cusip>
    <value>1650061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40692</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40692</Sole>
      <Shared>40692</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TPG Partners LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872657101</cusip>
    <value>608250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TPG Partners LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872657101</cusip>
    <value>523095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tractor Supply Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>892356106</cusip>
    <value>3360143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106300</Sole>
      <Shared>106300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tractor Supply Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>892356106</cusip>
    <value>290812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trade Desk Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88339J105</cusip>
    <value>5625628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311152</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>311152</Sole>
      <Shared>311152</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trade Desk Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88339J105</cusip>
    <value>7897344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>436800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>436800</Sole>
      <Shared>436800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trade Desk Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88339J105</cusip>
    <value>10365264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>573300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>573300</Sole>
      <Shared>573300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tradeweb Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>892672106</cusip>
    <value>16985054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170430</Sole>
      <Shared>170430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trane Technologies Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8994E103</cusip>
    <value>49137611</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100044</Sole>
      <Shared>100044</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trane Technologies Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8994E103</cusip>
    <value>2603148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transdigm Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>893641100</cusip>
    <value>42123101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31623</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31623</Sole>
      <Shared>31623</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transdigm Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>893641100</cusip>
    <value>4662140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transmedics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89377M109</cusip>
    <value>1381536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>20800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transmedics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89377M109</cusip>
    <value>571212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transocean Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H8817H100</cusip>
    <value>3751608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>767200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>767200</Sole>
      <Shared>767200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transocean Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H8817H100</cusip>
    <value>10201029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2086100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2086100</Sole>
      <Shared>2086100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transunion - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89400J107</cusip>
    <value>1082100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travelers Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89417E109</cusip>
    <value>924336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travere Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89422G107</cusip>
    <value>338304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5955</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5955</Sole>
      <Shared>5955</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travere Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89422G107</cusip>
    <value>329498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trekor Metals Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89472Y107</cusip>
    <value>1172875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170476</Sole>
      <Shared>170476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trevi Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89532M101</cusip>
    <value>1379690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73978</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73978</Sole>
      <Shared>73978</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trimas Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>896215209</cusip>
    <value>3073478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68254</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68254</Sole>
      <Shared>68254</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trimble Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>896239100</cusip>
    <value>14275996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>278937</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>278937</Sole>
      <Shared>278937</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trinity Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>896522109</cusip>
    <value>769059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22240</Sole>
      <Shared>22240</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trip.Com Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>89677Q107</cusip>
    <value>6682244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167727</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167727</Sole>
      <Shared>167727</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trip.Com Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89677Q107</cusip>
    <value>8119392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203800</Sole>
      <Shared>203800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tripadvisor Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>896945201</cusip>
    <value>921312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67200</Sole>
      <Shared>67200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Triumph Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89679E300</cusip>
    <value>6214915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81443</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81443</Sole>
      <Shared>81443</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tronox Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9087Q102</cusip>
    <value>8542195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1355904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1355904</Sole>
      <Shared>1355904</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trueblue Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89785X101</cusip>
    <value>553627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79430</Sole>
      <Shared>79430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Truist Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89832Q109</cusip>
    <value>3039020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61000</Sole>
      <Shared>61000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Truist Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89832Q109</cusip>
    <value>3382778</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67900</Sole>
      <Shared>67900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trump Media &amp; Technology Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25400Q105</cusip>
    <value>77400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trupanion Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>898202106</cusip>
    <value>8835385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>356697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>356697</Sole>
      <Shared>356697</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tsakos Energy Navigation Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9108L173</cusip>
    <value>9065013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256291</Sole>
      <Shared>256291</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TSS Inc/MD - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87288V101</cusip>
    <value>123000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ttm Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87305R109</cusip>
    <value>243126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ttm Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87305R109</cusip>
    <value>1327842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TuHURA Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>898920103</cusip>
    <value>105569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45115</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45115</Sole>
      <Shared>45115</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Turning Point Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90041L105</cusip>
    <value>889318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10486</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10486</Sole>
      <Shared>10486</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tutor Perini Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>901109108</cusip>
    <value>11470022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138243</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>138243</Sole>
      <Shared>138243</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWFG Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87318A101</cusip>
    <value>2467314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102591</Sole>
      <Shared>102591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Twilio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90138F102</cusip>
    <value>1628563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7893</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7893</Sole>
      <Shared>7893</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Twilio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90138F102</cusip>
    <value>13328918</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64600</Sole>
      <Shared>64600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Twilio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90138F102</cusip>
    <value>3755206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Twist Bioscience Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90184D100</cusip>
    <value>3200494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31109</Sole>
      <Shared>31109</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Two Harbors Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90187B804</cusip>
    <value>620500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TXNM Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69349H107</cusip>
    <value>13320758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>234603</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>234603</Sole>
      <Shared>234603</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tyson Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902494103</cusip>
    <value>3290558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57477</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57477</Sole>
      <Shared>57477</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tyson Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>902494103</cusip>
    <value>229000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U Haul Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023586100</cusip>
    <value>2034857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31095</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31095</Sole>
      <Shared>31095</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90353T100</cusip>
    <value>21650959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300041</Sole>
      <Shared>300041</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90353T100</cusip>
    <value>3773968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52300</Sole>
      <Shared>52300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90353T100</cusip>
    <value>24411728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>338300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>338300</Sole>
      <Shared>338300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>90353TAM2</cusip>
    <value>74300800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62000000</Sole>
      <Shared>62000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubiquiti Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90353W103</cusip>
    <value>7748241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14509</Sole>
      <Shared>14509</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubs Group Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H42097107</cusip>
    <value>12296381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>248111</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>248111</Sole>
      <Shared>248111</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubs Group Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H42097107</cusip>
    <value>5555676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112100</Sole>
      <Shared>112100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubs Group Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H42097107</cusip>
    <value>5451600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110000</Sole>
      <Shared>110000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Udr Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902653104</cusip>
    <value>7629870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191129</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>191129</Sole>
      <Shared>191129</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uipath Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90364P105</cusip>
    <value>1264181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116300</Sole>
      <Shared>116300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uipath Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90364P105</cusip>
    <value>1604412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147600</Sole>
      <Shared>147600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90384S303</cusip>
    <value>4806545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10658</Sole>
      <Shared>10658</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90384S303</cusip>
    <value>4374506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90384S303</cusip>
    <value>1217646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ultra Clean Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90385V107</cusip>
    <value>6309465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44249</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44249</Sole>
      <Shared>44249</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Umb Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902788108</cusip>
    <value>4927076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34513</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34513</Sole>
      <Shared>34513</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Umh Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>903002103</cusip>
    <value>5037850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>332751</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>332751</Sole>
      <Shared>332751</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Under Armour Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904311107</cusip>
    <value>447300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70000</Sole>
      <Shared>70000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Under Armour Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904311107</cusip>
    <value>1182150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185000</Sole>
      <Shared>185000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unifi Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>904677200</cusip>
    <value>130459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27465</Sole>
      <Shared>27465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unifirst Corp/Ma - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>904708104</cusip>
    <value>997279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3771</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3771</Sole>
      <Shared>3771</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unilever Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>904767803</cusip>
    <value>3704414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61617</Sole>
      <Shared>61617</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unilever Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904767803</cusip>
    <value>4947876</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82300</Sole>
      <Shared>82300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unilever Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904767803</cusip>
    <value>5789556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96300</Sole>
      <Shared>96300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Union Pacific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>907818108</cusip>
    <value>1931200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Union Pacific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>907818108</cusip>
    <value>7208000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26500</Sole>
      <Shared>26500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uniqure Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N90064101</cusip>
    <value>15148627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>328889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>328889</Sole>
      <Shared>328889</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uniqure Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N90064101</cusip>
    <value>25254698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>548300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>548300</Sole>
      <Shared>548300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uniqure Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N90064101</cusip>
    <value>9396240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204000</Sole>
      <Shared>204000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Airlines Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>910047109</cusip>
    <value>10317697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75871</Sole>
      <Shared>75871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Airlines Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>910047109</cusip>
    <value>16087617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118300</Sole>
      <Shared>118300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Airlines Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>910047109</cusip>
    <value>2053449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15100</Sole>
      <Shared>15100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Bankshares Inc/Wv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>909907107</cusip>
    <value>7800037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170195</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170195</Sole>
      <Shared>170195</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Microelectronics Corp - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>910873405</cusip>
    <value>595953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21902</Sole>
      <Shared>21902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Microelectronics Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>910873405</cusip>
    <value>2174079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79900</Sole>
      <Shared>79900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Microelectronics Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>910873405</cusip>
    <value>1393152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51200</Sole>
      <Shared>51200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Natural Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911163103</cusip>
    <value>1389510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30425</Sole>
      <Shared>30425</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Parcel Service Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911312106</cusip>
    <value>3321750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Parcel Service Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911312106</cusip>
    <value>17458000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162400</Sole>
      <Shared>162400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Parks &amp; Resorts Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81282V100</cusip>
    <value>2049287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42926</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42926</Sole>
      <Shared>42926</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Rentals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911363109</cusip>
    <value>2945514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Rentals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911363109</cusip>
    <value>1925913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United States Antimony Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911549103</cusip>
    <value>356466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49100</Sole>
      <Shared>49100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United States Lime &amp; Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911922102</cusip>
    <value>1920066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18344</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18344</Sole>
      <Shared>18344</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Therapeutics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91307C102</cusip>
    <value>6863361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12667</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12667</Sole>
      <Shared>12667</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitedhealth Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91324P102</cusip>
    <value>125597152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>302185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>302185</Sole>
      <Shared>302185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitedhealth Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91324P102</cusip>
    <value>107814422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>259400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>259400</Sole>
      <Shared>259400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitedhealth Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91324P102</cusip>
    <value>211555670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>509000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>509000</Sole>
      <Shared>509000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uniti Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>912932100</cusip>
    <value>119288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>913290102</cusip>
    <value>316398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5391</Sole>
      <Shared>5391</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91332U101</cusip>
    <value>2844825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99539</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99539</Sole>
      <Shared>99539</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91332U101</cusip>
    <value>4041212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141400</Sole>
      <Shared>141400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91332U101</cusip>
    <value>14484344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>506800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>506800</Sole>
      <Shared>506800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Display Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91347P105</cusip>
    <value>233793</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Health Realty Income Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91359E105</cusip>
    <value>2669013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60853</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60853</Sole>
      <Shared>60853</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Health Services Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>913903100</cusip>
    <value>4472744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30081</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30081</Sole>
      <Shared>30081</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Health Services Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>913903100</cusip>
    <value>327118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Insurance Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91359V107</cusip>
    <value>1816118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43910</Sole>
      <Shared>43910</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Univest Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>915271100</cusip>
    <value>5620125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128460</Sole>
      <Shared>128460</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unum Group - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91529Y106</cusip>
    <value>6127655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68542</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68542</Sole>
      <Shared>68542</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unusual Machines Inc /US - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91532F102</cusip>
    <value>5070173</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227362</Sole>
      <Shared>227362</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unusual Machines Inc /US - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91532F102</cusip>
    <value>499520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22400</Sole>
      <Shared>22400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Up Fintech Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>91531W106</cusip>
    <value>721160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163900</Sole>
      <Shared>163900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Up Fintech Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91531W106</cusip>
    <value>487960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110900</Sole>
      <Shared>110900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Up Fintech Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91531W106</cusip>
    <value>1767920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>401800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>401800</Sole>
      <Shared>401800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upstart Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91680M107</cusip>
    <value>4170111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117700</Sole>
      <Shared>117700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upwork Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91688F104</cusip>
    <value>549252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65700</Sole>
      <Shared>65700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uranium Royalty Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91702V101</cusip>
    <value>849493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305573</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>305573</Sole>
      <Shared>305573</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uranium Royalty Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91702V101</cusip>
    <value>139000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Urban Edge Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91704F104</cusip>
    <value>803225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35106</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35106</Sole>
      <Shared>35106</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902973304</cusip>
    <value>15140589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250672</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250672</Sole>
      <Shared>250672</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>902973304</cusip>
    <value>1866360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>902973304</cusip>
    <value>1063040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17600</Sole>
      <Shared>17600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Global Jets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>26922A842</cusip>
    <value>2543689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76571</Sole>
      <Shared>76571</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Physical Therapy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90337L108</cusip>
    <value>1502512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21877</Sole>
      <Shared>21877</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>USA Rare Earth Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91733P107</cusip>
    <value>4095884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>189800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>189800</Sole>
      <Shared>189800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uwm Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91823B109</cusip>
    <value>4704420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2054332</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2054332</Sole>
      <Shared>2054332</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>V2X Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92242T101</cusip>
    <value>260140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3489</Sole>
      <Shared>3489</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vail Resorts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91879Q109</cusip>
    <value>1524880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>11200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vail Resorts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91879Q109</cusip>
    <value>558215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valaris Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9460G101</cusip>
    <value>12480448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171907</Sole>
      <Shared>171907</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valaris Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9460G101</cusip>
    <value>16305960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224600</Sole>
      <Shared>224600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valaris Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9460G101</cusip>
    <value>8167500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112500</Sole>
      <Shared>112500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vale Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>91912E105</cusip>
    <value>395146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26273</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26273</Sole>
      <Shared>26273</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vale Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91912E105</cusip>
    <value>171456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vale Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91912E105</cusip>
    <value>1189664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79100</Sole>
      <Shared>79100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valens Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M9607U115</cusip>
    <value>288376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127600</Sole>
      <Shared>127600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91913Y100</cusip>
    <value>13452247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51652</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51652</Sole>
      <Shared>51652</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91913Y100</cusip>
    <value>6250560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>24000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91913Y100</cusip>
    <value>3802424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valvoline Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92047W101</cusip>
    <value>7793729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>197110</Sole>
      <Shared>197110</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck BDC Income ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F411</cusip>
    <value>316500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Gold Miners Etf/Usa - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F106</cusip>
    <value>23623395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>313100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>313100</Sole>
      <Shared>313100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Gold Miners Etf/Usa - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F106</cusip>
    <value>114020040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1511200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1511200</Sole>
      <Shared>1511200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Gold Miners Etf/Usa - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F106</cusip>
    <value>12017676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159280</Sole>
      <Shared>159280</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Junior Gold Miners Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F791</cusip>
    <value>2154328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21927</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21927</Sole>
      <Shared>21927</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck Morningstar Wide Moat ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F643</cusip>
    <value>10103353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97185</Sole>
      <Shared>97185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Oil Services Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189H607</cusip>
    <value>9300750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Oil Services Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189H607</cusip>
    <value>1924883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5174</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5174</Sole>
      <Shared>5174</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Pharmaceutical Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F692</cusip>
    <value>859491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7860</Sole>
      <Shared>7860</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck Rare Earth and Strategic Metals ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189H805</cusip>
    <value>13869720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156720</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156720</Sole>
      <Shared>156720</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F676</cusip>
    <value>80674470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123000</Sole>
      <Shared>123000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F676</cusip>
    <value>358706241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>546900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>546900</Sole>
      <Shared>546900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F676</cusip>
    <value>21594522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32924</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32924</Sole>
      <Shared>32924</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Dividend Appreciation Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>921908844</cusip>
    <value>654964</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2768</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2768</Sole>
      <Shared>2768</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Extended Duration Treasury Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>921910709</cusip>
    <value>202919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3118</Sole>
      <Shared>3118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Ftse Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922042858</cusip>
    <value>2854018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47814</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47814</Sole>
      <Shared>47814</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Information Technology Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92204A702</cusip>
    <value>11832480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99000</Sole>
      <Shared>99000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Information Technology Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92204A702</cusip>
    <value>10919825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91364</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91364</Sole>
      <Shared>91364</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Long-Term Treasury ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92206C847</cusip>
    <value>478411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8670</Sole>
      <Shared>8670</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Morningstar Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908736</cusip>
    <value>818933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9507</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9507</Sole>
      <Shared>9507</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Morningstar Mega Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>921910840</cusip>
    <value>17356919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106191</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106191</Sole>
      <Shared>106191</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Morningstar Mid Cap ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908629</cusip>
    <value>3239317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40205</Sole>
      <Shared>40205</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Morningstar Small-Cap ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908751</cusip>
    <value>1170953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3863</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3863</Sole>
      <Shared>3863</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Morningstar Total Stock Market ETF - US E</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908769</cusip>
    <value>2097757</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5669</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5669</Sole>
      <Shared>5669</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Morningstar Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908744</cusip>
    <value>36648852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168168</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168168</Sole>
      <Shared>168168</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Real Estate Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908553</cusip>
    <value>973172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10092</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10092</Sole>
      <Shared>10092</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard Russell 1000 Value - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92206C714</cusip>
    <value>15650320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147214</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147214</Sole>
      <Shared>147214</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard S&amp;P 500 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908363</cusip>
    <value>4957395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7218</Sole>
      <Shared>7218</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanguard S&amp;P 500 Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>921932505</cusip>
    <value>313378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3793</Sole>
      <Shared>3793</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaxcyte Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92243G108</cusip>
    <value>1865973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32100</Sole>
      <Shared>32100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Veeva Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>922475108</cusip>
    <value>2236122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>12600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Veeva Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>922475108</cusip>
    <value>1082567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Velo3D Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92259N302</cusip>
    <value>1669777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95144</Sole>
      <Shared>95144</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Velocity Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92262D101</cusip>
    <value>1683903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91219</Sole>
      <Shared>91219</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Velocity Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92262D101</cusip>
    <value>204906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ventas Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92276F100</cusip>
    <value>222000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Venture Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92333F101</cusip>
    <value>30893118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2775662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2775662</Sole>
      <Shared>2775662</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Venture Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92333F101</cusip>
    <value>11567409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1039300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1039300</Sole>
      <Shared>1039300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Venture Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92333F101</cusip>
    <value>5898900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>530000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>530000</Sole>
      <Shared>530000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisign Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92343E102</cusip>
    <value>32357408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128627</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128627</Sole>
      <Shared>128627</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisign Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92343E102</cusip>
    <value>679212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisk Analytics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92345Y106</cusip>
    <value>12333891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68701</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68701</Sole>
      <Shared>68701</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisk Analytics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92345Y106</cusip>
    <value>1454193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisk Analytics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92345Y106</cusip>
    <value>341107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Veritone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92347M100</cusip>
    <value>54800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92343V104</cusip>
    <value>2828312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66800</Sole>
      <Shared>66800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92343V104</cusip>
    <value>5377180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127000</Sole>
      <Shared>127000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verra Mobility Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92511U102</cusip>
    <value>4614221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1085699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1085699</Sole>
      <Shared>1085699</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Versant Media Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>925283103</cusip>
    <value>7586047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>210665</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>210665</Sole>
      <Shared>210665</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Versant Media Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925283103</cusip>
    <value>1440400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92538J106</cusip>
    <value>3199694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>278719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>278719</Sole>
      <Shared>278719</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92532F100</cusip>
    <value>14989324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30176</Sole>
      <Shared>30176</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92532F100</cusip>
    <value>2682342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92532F100</cusip>
    <value>596076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertical Aerospace Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9471C206</cusip>
    <value>346796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199308</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>199308</Sole>
      <Shared>199308</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92537N108</cusip>
    <value>13552174</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40476</Sole>
      <Shared>40476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92537N108</cusip>
    <value>9843708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>29400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92537N108</cusip>
    <value>20926250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62500</Sole>
      <Shared>62500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vestis Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29430C102</cusip>
    <value>3310545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227999</Sole>
      <Shared>227999</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vf Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>918204108</cusip>
    <value>17719531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1062322</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1062322</Sole>
      <Shared>1062322</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vf Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>918204108</cusip>
    <value>448692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26900</Sole>
      <Shared>26900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viant Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92557A101</cusip>
    <value>251934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>19900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viasat Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92552V100</cusip>
    <value>2523661</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28100</Sole>
      <Shared>28100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viasat Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92552V100</cusip>
    <value>4553367</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50700</Sole>
      <Shared>50700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viatris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92556V106</cusip>
    <value>285840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>18000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viavi Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>925550105</cusip>
    <value>28980478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>606921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>606921</Sole>
      <Shared>606921</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viavi Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925550105</cusip>
    <value>1795400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37600</Sole>
      <Shared>37600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viavi Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925550105</cusip>
    <value>2440025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51100</Sole>
      <Shared>51100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vici Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>925652109</cusip>
    <value>25456246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>958804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>958804</Sole>
      <Shared>958804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vici Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925652109</cusip>
    <value>626580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23600</Sole>
      <Shared>23600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>925815102</cusip>
    <value>31783788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83690</Sole>
      <Shared>83690</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925815102</cusip>
    <value>531692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925815102</cusip>
    <value>873494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Victoria's Secret &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>926400102</cusip>
    <value>5532720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66276</Sole>
      <Shared>66276</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Victoria's Secret &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>926400102</cusip>
    <value>525924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Victory Capital Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92645B103</cusip>
    <value>8218294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97767</Sole>
      <Shared>97767</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G93A5A101</cusip>
    <value>889695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>8500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G93A5A101</cusip>
    <value>230274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92686J106</cusip>
    <value>7697882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197331</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>197331</Sole>
      <Shared>197331</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92686J106</cusip>
    <value>3510900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90000</Sole>
      <Shared>90000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Village Farms International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92707Y108</cusip>
    <value>100000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viper Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64361Q101</cusip>
    <value>12380800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>292000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>292000</Sole>
      <Shared>292000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vipshop Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>92763W103</cusip>
    <value>331500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virgin Galactic Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92766K403</cusip>
    <value>120065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41545</Sole>
      <Shared>41545</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virgin Galactic Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92766K403</cusip>
    <value>502571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173900</Sole>
      <Shared>173900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viridian Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92790C104</cusip>
    <value>1142320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62184</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62184</Sole>
      <Shared>62184</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virtu Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>928254101</cusip>
    <value>473998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7957</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7957</Sole>
      <Shared>7957</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virtu Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>928254101</cusip>
    <value>947163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virtu Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>928254101</cusip>
    <value>2144520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36000</Sole>
      <Shared>36000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92826C839</cusip>
    <value>22884103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66700</Sole>
      <Shared>66700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92826C839</cusip>
    <value>9469284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vishay Intertechnology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>928298108</cusip>
    <value>34868048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>648346</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>648346</Sole>
      <Shared>648346</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vishay Intertechnology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>928298108</cusip>
    <value>596958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vista Energy SAB de CV - US ADR Series A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92837L109</cusip>
    <value>248820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistagen Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92840H400</cusip>
    <value>37742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167000</Sole>
      <Shared>167000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistra Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92840M102</cusip>
    <value>35463799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>223563</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>223563</Sole>
      <Shared>223563</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistra Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92840M102</cusip>
    <value>8597746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54200</Sole>
      <Shared>54200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistra Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92840M102</cusip>
    <value>11199278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70600</Sole>
      <Shared>70600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vita Coco Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92846Q107</cusip>
    <value>1135888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17174</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17174</Sole>
      <Shared>17174</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vital Farms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92847W103</cusip>
    <value>365182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31400</Sole>
      <Shared>31400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vital Farms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92847W103</cusip>
    <value>353552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30400</Sole>
      <Shared>30400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vitesse Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92852X103</cusip>
    <value>2674907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169620</Sole>
      <Shared>169620</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vivani Medical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92854B109</cusip>
    <value>509518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>410902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>410902</Sole>
      <Shared>410902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VivoPower PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9376R209</cusip>
    <value>1163250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225000</Sole>
      <Shared>225000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vizsla Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92859G608</cusip>
    <value>363330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110100</Sole>
      <Shared>110100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vnet Group Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90138A103</cusip>
    <value>402804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50100</Sole>
      <Shared>50100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vodafone Group Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92857W308</cusip>
    <value>420558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vodafone Group Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92857W308</cusip>
    <value>334596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25300</Sole>
      <Shared>25300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vontier Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>928881101</cusip>
    <value>4995830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>172270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>172270</Sole>
      <Shared>172270</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vor Biopharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929033207</cusip>
    <value>361204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19620</Sole>
      <Shared>19620</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vornado Realty Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929042109</cusip>
    <value>5059364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128737</Sole>
      <Shared>128737</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vornado Realty Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>929042109</cusip>
    <value>212220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Voya Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929089100</cusip>
    <value>12130205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133991</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133991</Sole>
      <Shared>133991</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Voyager Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92892B103</cusip>
    <value>5284001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163845</Sole>
      <Shared>163845</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Voyager Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92892B103</cusip>
    <value>270900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>8400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Voyager Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92892B103</cusip>
    <value>209625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vtex - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9470A102</cusip>
    <value>357444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89361</Sole>
      <Shared>89361</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vulcan Materials Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>929160109</cusip>
    <value>354012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vulcan Materials Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>929160109</cusip>
    <value>295010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>W R Berkley Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>084423102</cusip>
    <value>40289416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>571238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>571238</Sole>
      <Shared>571238</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>W&amp;T Offshore Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92922P106</cusip>
    <value>3996121</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1268610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1268610</Sole>
      <Shared>1268610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wabash National Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929566107</cusip>
    <value>4428189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>328014</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>328014</Sole>
      <Shared>328014</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wafd Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>938824109</cusip>
    <value>1581688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41222</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41222</Sole>
      <Shared>41222</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>931142103</cusip>
    <value>283150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>931142103</cusip>
    <value>8698368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76800</Sole>
      <Shared>76800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>931142103</cusip>
    <value>17668560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156000</Sole>
      <Shared>156000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>254687106</cusip>
    <value>10596451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110093</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110093</Sole>
      <Shared>110093</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>254687106</cusip>
    <value>1174250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>254687106</cusip>
    <value>10616375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110300</Sole>
      <Shared>110300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Bros Discovery Inc - A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>934423104</cusip>
    <value>194247026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7286085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7286085</Sole>
      <Shared>7286085</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Music Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>934550203</cusip>
    <value>7668606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>283288</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>283288</Sole>
      <Shared>283288</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warrior Met Coal Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>93627C101</cusip>
    <value>842847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10385</Sole>
      <Shared>10385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Washington Trust Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>940610108</cusip>
    <value>2089356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57274</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57274</Sole>
      <Shared>57274</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94106L109</cusip>
    <value>1225840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94106L109</cusip>
    <value>824656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waters Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>941848103</cusip>
    <value>62406656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166400</Sole>
      <Shared>166400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Watsco Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>942622200</cusip>
    <value>5035349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12083</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12083</Sole>
      <Shared>12083</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Watts Water Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>942749102</cusip>
    <value>965316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2466</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2466</Sole>
      <Shared>2466</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wayfair Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>94419L101</cusip>
    <value>6068482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65662</Sole>
      <Shared>65662</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wayfair Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94419L101</cusip>
    <value>5646862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61100</Sole>
      <Shared>61100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Webster Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>947890109</cusip>
    <value>179425295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2347884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2347884</Sole>
      <Shared>2347884</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBULL CORP - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9572D103</cusip>
    <value>2377335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>364622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>364622</Sole>
      <Shared>364622</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBULL CORP - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9572D103</cusip>
    <value>326000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wec Energy Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92939U106</cusip>
    <value>3358305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28760</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28760</Sole>
      <Shared>28760</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weis Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>948849104</cusip>
    <value>7981355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101920</Sole>
      <Shared>101920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>949746101</cusip>
    <value>147350012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1783035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1783035</Sole>
      <Shared>1783035</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>949746101</cusip>
    <value>27486064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>332600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>332600</Sole>
      <Shared>332600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>949746101</cusip>
    <value>19627000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>237500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>237500</Sole>
      <Shared>237500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Welltower Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>95040Q104</cusip>
    <value>2315094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wesco International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>95082P105</cusip>
    <value>5847784</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16929</Sole>
      <Shared>16929</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wesco International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>95082P105</cusip>
    <value>310887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>West Enclave Merger Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9600E107</cusip>
    <value>1984000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>West Enclave Merger Corp - US CVR</nameOfIssuer>
    <titleOfClass>Contingent Value Rights</titleOfClass>
    <cusip>G9600E115</cusip>
    <value>36000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>West Pharmaceutical Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>955306105</cusip>
    <value>8562509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23851</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23851</Sole>
      <Shared>23851</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>West Pharmaceutical Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>955306105</cusip>
    <value>430800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>957638109</cusip>
    <value>7123534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86661</Sole>
      <Shared>86661</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>957638109</cusip>
    <value>1142580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>957638109</cusip>
    <value>3246900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39500</Sole>
      <Shared>39500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Copper &amp; Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>95805V108</cusip>
    <value>539305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>240761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>240761</Sole>
      <Shared>240761</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>958102105</cusip>
    <value>46408118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72658</Sole>
      <Shared>72658</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>958102105</cusip>
    <value>37939968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59400</Sole>
      <Shared>59400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>958102105</cusip>
    <value>38450944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60200</Sole>
      <Shared>60200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Westinghouse Air Brake Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929740108</cusip>
    <value>2435027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9032</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9032</Sole>
      <Shared>9032</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Westlake Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>960413102</cusip>
    <value>8081830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110710</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110710</Sole>
      <Shared>110710</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Westrock Coffee Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>96145W103</cusip>
    <value>2403820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>296402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>296402</Sole>
      <Shared>296402</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weyerhaeuser Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>962166104</cusip>
    <value>7289922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>304508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>304508</Sole>
      <Shared>304508</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weyerhaeuser Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962166104</cusip>
    <value>715806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29900</Sole>
      <Shared>29900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>962879102</cusip>
    <value>2772170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24681</Sole>
      <Shared>24681</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962879102</cusip>
    <value>505440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962879102</cusip>
    <value>6278688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55900</Sole>
      <Shared>55900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>963320205</cusip>
    <value>333308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9500</Sole>
      <Shared>9500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>963320106</cusip>
    <value>16462541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>417619</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>417619</Sole>
      <Shared>417619</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>963320106</cusip>
    <value>5270454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133700</Sole>
      <Shared>133700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>963320106</cusip>
    <value>1951290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49500</Sole>
      <Shared>49500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Willdan Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>96924N100</cusip>
    <value>2011117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25425</Sole>
      <Shared>25425</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>969457100</cusip>
    <value>16396951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220567</Sole>
      <Shared>220567</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969457100</cusip>
    <value>1182006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969457100</cusip>
    <value>3940020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53000</Sole>
      <Shared>53000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams-Sonoma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969904101</cusip>
    <value>1701630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>7300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Willis Lease Finance Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>970646105</cusip>
    <value>3633573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15881</Sole>
      <Shared>15881</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WillScot Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>971378104</cusip>
    <value>501529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17378</Sole>
      <Shared>17378</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wingstop Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>974155103</cusip>
    <value>9687723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55866</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55866</Sole>
      <Shared>55866</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wingstop Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>974155103</cusip>
    <value>4630047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26700</Sole>
      <Shared>26700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wingstop Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>974155103</cusip>
    <value>1994215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Winnebago Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>974637100</cusip>
    <value>1441164</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46132</Sole>
      <Shared>46132</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wintrust Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>97650W108</cusip>
    <value>17591929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109457</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109457</Sole>
      <Shared>109457</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WisdomTree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>97717P104</cusip>
    <value>4033414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238100</Sole>
      <Shared>238100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WisdomTree U.S. Quality Dividend Growth Fund - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>97717X669</cusip>
    <value>10102253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105650</Sole>
      <Shared>105650</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wix.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M98068105</cusip>
    <value>2353614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51876</Sole>
      <Shared>51876</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wix.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M98068105</cusip>
    <value>3547934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78200</Sole>
      <Shared>78200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wix.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M98068105</cusip>
    <value>4223947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93100</Sole>
      <Shared>93100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolfspeed Inc/DE - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>97785W106</cusip>
    <value>6223044</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128975</Sole>
      <Shared>128975</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolfspeed Inc/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>97785W106</cusip>
    <value>3498125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72500</Sole>
      <Shared>72500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolfspeed Inc/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>97785W106</cusip>
    <value>525925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolverine World Wide Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>978097103</cusip>
    <value>3048826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184442</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184442</Sole>
      <Shared>184442</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workday Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98138H101</cusip>
    <value>7459418</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60933</Sole>
      <Shared>60933</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workday Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98138H101</cusip>
    <value>14763852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120600</Sole>
      <Shared>120600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workday Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98138H101</cusip>
    <value>22194746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181300</Sole>
      <Shared>181300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workiva Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98139A105</cusip>
    <value>713485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14708</Sole>
      <Shared>14708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>World Kinect Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>981475106</cusip>
    <value>1330249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40384</Sole>
      <Shared>40384</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wp Carey Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92936U109</cusip>
    <value>2484339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34746</Sole>
      <Shared>34746</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wp Carey Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92936U109</cusip>
    <value>286000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wsfs Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929328102</cusip>
    <value>8097931</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105538</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105538</Sole>
      <Shared>105538</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ww Grainger Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384802104</cusip>
    <value>952280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ww Grainger Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384802104</cusip>
    <value>408120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300</Sole>
      <Shared>300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wynn Resorts Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983134107</cusip>
    <value>29321180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>302000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>302000</Sole>
      <Shared>302000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wynn Resorts Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983134107</cusip>
    <value>844683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xcel Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98389B100</cusip>
    <value>546040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>6800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xcf Global Inc-A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98400U103</cusip>
    <value>51177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115942</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115942</Sole>
      <Shared>115942</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xencor Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98401F105</cusip>
    <value>1173964</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72917</Sole>
      <Shared>72917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>X-Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98386P102</cusip>
    <value>2233971</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121676</Sole>
      <Shared>121676</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>X-Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98386P102</cusip>
    <value>918000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xenon Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98420N105</cusip>
    <value>32919559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>545387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>545387</Sole>
      <Shared>545387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xeris Biopharma Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98422E103</cusip>
    <value>175713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22186</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22186</Sole>
      <Shared>22186</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XOMA Royalty Corporation - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98419J206</cusip>
    <value>3586618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84391</Sole>
      <Shared>84391</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xpel Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98379L100</cusip>
    <value>2886026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58186</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58186</Sole>
      <Shared>58186</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xpeng Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98422D105</cusip>
    <value>5955352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>449800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>449800</Sole>
      <Shared>449800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xpeng Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98422D105</cusip>
    <value>1861544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140600</Sole>
      <Shared>140600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPLR Infrastructure LP - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65341B106</cusip>
    <value>5357075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>453605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>453605</Sole>
      <Shared>453605</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO, Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983793100</cusip>
    <value>1231740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO, Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983793100</cusip>
    <value>574812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xtrackers Harvest Csi 300 China A-Shares Etf - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>233051879</cusip>
    <value>6279858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171300</Sole>
      <Shared>171300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xylem Inc/Ny - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98419M100</cusip>
    <value>236420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yeti Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98585X104</cusip>
    <value>1309078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26414</Sole>
      <Shared>26414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yeti Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98585X104</cusip>
    <value>2036916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41100</Sole>
      <Shared>41100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yext Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98585N106</cusip>
    <value>1078588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>230961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>230961</Sole>
      <Shared>230961</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>York Space Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>987084100</cusip>
    <value>566408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23006</Sole>
      <Shared>23006</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ypf Sa - US ADR Class D</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>984245100</cusip>
    <value>1755142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38600</Sole>
      <Shared>38600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ypf Sa - US ADR Class D</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>984245100</cusip>
    <value>759349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yum! Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>988498101</cusip>
    <value>511552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zeta Global Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98956A105</cusip>
    <value>794659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40379</Sole>
      <Shared>40379</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98956A105</cusip>
    <value>848208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43100</Sole>
      <Shared>43100</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>488445206</cusip>
    <value>5951932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>415058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>415058</Sole>
      <Shared>415058</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
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    <titleOfClass>Equity Option</titleOfClass>
    <cusip>488445206</cusip>
    <value>1302072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90800</Sole>
      <Shared>90800</Shared>
      <None>0</None>
    </votingAuthority>
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    <titleOfClass>Equity</titleOfClass>
    <cusip>98954M200</cusip>
    <value>34661220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1099658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1099658</Sole>
      <Shared>1099658</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zillow Group Inc - C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98954M200</cusip>
    <value>1408944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44700</Sole>
      <Shared>44700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zillow Group Inc - C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98954M200</cusip>
    <value>1292320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41000</Sole>
      <Shared>41000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zim Integrated Shipping Services Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M9T951109</cusip>
    <value>7117630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273755</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273755</Sole>
      <Shared>273755</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zim Integrated Shipping Services Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M9T951109</cusip>
    <value>1222000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47000</Sole>
      <Shared>47000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zimmer Biomet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98956P102</cusip>
    <value>6198136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71996</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71996</Sole>
      <Shared>71996</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zimmer Biomet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98956P102</cusip>
    <value>499322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zions Bancorp Na - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>989701107</cusip>
    <value>678062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9800</Sole>
      <Shared>9800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ziprecruiter Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98980B103</cusip>
    <value>1548806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>413015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>413015</Sole>
      <Shared>413015</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoetis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98978V103</cusip>
    <value>14964558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208246</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>208246</Sole>
      <Shared>208246</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoetis Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98978V103</cusip>
    <value>8041134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111900</Sole>
      <Shared>111900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoetis Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98978V103</cusip>
    <value>5015828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69800</Sole>
      <Shared>69800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoom Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980L101</cusip>
    <value>11729529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135900</Sole>
      <Shared>135900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoom Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980L101</cusip>
    <value>7776531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90100</Sole>
      <Shared>90100</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zoominfo Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98980F104</cusip>
    <value>4532701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1546997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1546997</Sole>
      <Shared>1546997</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zscaler Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98980G102</cusip>
    <value>6119982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43358</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43358</Sole>
      <Shared>43358</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zscaler Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980G102</cusip>
    <value>6337635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44900</Sole>
      <Shared>44900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zscaler Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980G102</cusip>
    <value>26451510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187400</Sole>
      <Shared>187400</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Zurn Elkay Water Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98983L108</cusip>
    <value>8290609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>164073</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>164073</Sole>
      <Shared>164073</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zymeworks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98985Y108</cusip>
    <value>953352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36471</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36471</Sole>
      <Shared>36471</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
